证券的收盘价无论在学术研究还是实际应用中都有重要的意义。本文介绍了国内外证券交易所采用的主要收盘价决定方式,并对各种方式进行了比较。集合竞价方式在避免收盘价被操纵,维持收盘价的稳定性、连续性和代表性上的优势,使得越来越多的交易所采取这种方式决定收盘价,而单笔交易价格方式有被淘汰的趋势。 The closing price of securities is of great significance both in academic research and in practical application. This article introduces the major closing prices adopted by stock exchanges both at home and abroad and compares them in various ways. Collective bidding approach to avoid the closing price is manipulated to maintain the stability of the closing price, continuity and representation advantages, making more and more exchanges take this approach to determine the closing price, and the single transaction price has been Out of the trend.