(I)Different underlying
The underlying asset are Huatai PinBridge CSI300 ETF (Shanghai stock market) and Harvest CSI300 ETF (Shenzhen stock market)

(II)Different trading orders
There are five order sending methods in Shanghai stock market (general limit order, market order with surplus to limit, market order with surplus cancellation, full amount of real-time limit order, full amount of real-time market order); there are seven order sending methods in Shenzhen stock market (general limit order, limit order with full amount of filling or cancellation, market order with counterparty's best price, market order with own side best price, market order with optimal five levels of filling and surplus cancellation, market order with real-time filling and surplus cancellation, market order with full filling or cancellation) there are two more kinds in Shenzhen stock market.

(III) Different fund scale and liquidity
As of last Friday, Huatai PinBridge CSI300 ETF had a fund scale of 8.429 billion shares, an average daily turnover of about 3.5%, an average monthly turnover of 27.3 billion yuan, Harvest CSI300 ETF had a fund scale of 5.849 billion shares, an average daily turnover of about 2%, and an average monthly turnover of 5.56 billion yuan. The fund scale and trading volume of the Shanghai stock market were larger than that of the Shenzhen stock market. Huatai PinBridg CSI300 ETF had better market capacity and liquidity.

(IV) Different number of single declaration
The maximum size of one limit order is 30 lots and the maximum size of one market order is 10 lots in Shanghai Stock market.The number is 50 and 10, respectively, in Shenzhen stock market. For investors with large trading volume, it is more convenient to place orders in Shenzhen stock market.

(V) Different methods of opening, locking or unlocking with reserved positions,
When opening with reserved positions in Shanghai stock market, it is necessary to lock the securities first and then open the position. When closing a position, it is necessary to unlock and then close the position. Opening and closing a position need to be operated in two steps. When opening and closing positions in Shenzhen stock market, the securities are automatically locked and unlocked in one step. It is easier to open and close positions with reserved positions in Shenzhen market

(VI) Different ways to deal with the shortage of reserved securities
In view of the shortage of reserved securities, the Shanghai stock market adopts compulsory closing position, and the Shenzhen stock market adopts transferring reserved securities to an ordinary position. When the margin is sufficient, it will not trigger compulsory closing positions in Shenzhen market.

(VII) Difference in declaration time of portfolio strategy
The declaration time of composite strategy in Shanghai Stock market is 9:30-11:30, 13:00-15:00, while for Shenzhen Stock market it is 9:15-9:25, 9:30-11:30, 13:00-15:00. That is to say, Shenzhen stock market allows declaring the composite strategy in the call auction stage, so that the declaration period is longer.

(一)标的不同
期权标的分别为华泰柏瑞沪深300 ETF(沪市)和嘉实沪深300ETF(深市)
(二)交易指令不同
沪市有5种申报方式(普通限价委托、市价剩余转限价委托、市价剩余撤销委托全额即时限价委托、全额即时市价委托);深市有7种申报方式(普通限价申报、全额成交或撤销限价申报、对手方最优价格市价申报、本方最优价格市价申报、最优五档は时成交剩余撤销市价申报、即时成交剩余撤销市价申报、全额成交或撤销市价申报)深市多2种,交易指令更丰富)
（三）基金规模与流动性不同
截止周五,华泰柏瑞沪深300ETF的基金规模84.29亿份、日均换手率约3.5%月均成交额273亿元，嘉实沪深300ETF的基金规模58,49亿份、日均换手率约2%、月均成交额55.6亿元,沪市标的在基金规模和交易量上均大于深市标的,华泰柏瑞沪深300ETF无论在市场容量还是流动性方面均表现更优.
(四)单笔申报数量不同
沪市单笔申报限价30张、市价10张。深市限价50张,市价10张。
对于交易量大的投资者,深市下单更方便
(五)备兑开仓锁券或解锁方式不同
沪市在开仓时,需先锁券、再开仓,在平仓时,需先解锁、再平仓,开仓平仓均需分两步操作。深市开仓和平仓时,均是自动锁券和解锁,仅一步操作。深市备兑开仓平仓更加简便
(六)备兑券不足处理方式不同
针对备兑券不足情形,沪市采取强平,深市采取备兑仓转普通仓。在保证金充足的情况下,深市不易触发强平
(七)组合策略申报时间差异
沪市组合策略申报时间为9:30-11:30、13:00-15:00,深市为9:15-9:25、9:30-11:30、13:00-15:00。深市在集合竞价阶段可以申报组合,申报时间段更长