Chapter 1 General Provisions

Article 1 These Delivery Rules of the Shanghai International Energy Exchange (hereinafter referred to as the “Delivery Rules”) are formulated, in accordance with the General Exchange Rules of the Shanghai International Energy Exchange and the relevant implementing rules, to ensure the normal operations of futures delivery at the Shanghai International Energy Exchange (hereinafter referred to as “the Exchange”), strengthen the management of the Designated Delivery Storage Facilities, standard warrants and commodity registration, and regulate the delivery operations.

Article 2 The Exchange’s delivery operations shall follow these Delivery Rules. The participants involved in the delivery operations including the Exchange, Members, Overseas Special Participants (hereinafter referred to as the “OSPs”), Overseas Intermediaries, Clients, Designated Delivery Storage Facilities and Designated Inspection Agencies, shall abide by these Delivery Rules.

Article 3 The delivery of a futures contract may take the form of physical delivery or other delivery methods prescribed by the Exchange.

Article 4 Physical delivery refers to the settlement of open positions in a futures contract by the buyer and seller through an ownership transfer of the underlying commodity of the contract in accordance with the rules and procedures of the Exchange.
The physical delivery of a futures contract is divided into bonded delivery and duty-paid delivery based on different duty payment statuses of the delivery commodities. Bonded delivery means the physical delivery of the underlying commodity of a futures contract in bonded status within the Customs Special Supervision Areas or the Bonded Supervision Premises. Duty-paid delivery means that the physical delivery of the underlying commodity has been cleared through the customs and its taxes such as the customs duties and VATs have been paid. The physical delivery of the futures contract is divided into warehouse delivery, factory delivery and other delivery methods based on different natures of the delivery venues. Warehouse delivery is a process of physical delivery where the buyer and the seller perform delivery in accordance with the required procedures by transferring the ownership of warehouse standard warrants. Factory delivery is a process of physical delivery where the buyer and the seller perform delivery in accordance with the required procedures by transferring the ownership of factory standard warrants.

Article 5 The Designated Delivery Storage Facilities include the warehouses and the factories. Warehouse refers to a facility of a licensed commodity storage enterprise which has been approved and designated by the Exchange for the physical delivery of a commodity futures. Factory refers to a facility of a producer which has been approved and designated by the Exchange for the physical delivery of a commodity futures.
The Designated Delivery Storage Facilities shall be announced separately upon the verification and approval of the Exchange.

Article 6 The standard warrant refers to the receipt entitling the holder thereof to take delivery of the physical commodity issued by the Designated Delivery Storage Facility in accordance with the procedures prescribed by the Exchange, and generated in the Standard Warrant Management System of the Exchange. Other receipts entitling physical delivery except the standard warrants are classified as non-standard warrants.
The standard warrant is divided into the bonded standard warrant and duty-paid standard warrant based on different duty payment statuses of the futures commodities.
The standard warrant is divided into warehouse standard warrant and factory standard warrant based on different natures of the delivery venues.

Article 7 For physically delivered futures contracts, delivery for all the open positions at expiry shall be conducted according to the standard delivery procedures, whereas the delivery of immature contracts may be conducted according to the procedures of Exchange for Physical (hereinafter referred to as the “EFP”).

Article 8 Members shall perform the physical delivery with the Exchange directly.
Members’ Clients, OSPs who authorize Members to clear, and Overseas Intermediaries who authorize Members to trade and clear (the aforementioned Clients, OSPs and Overseas Intermediaries are collectively referred to as the “Clearing Delivery Principals”) shall perform the physical delivery via their Members at the Exchange.
The Clients of Overseas Special Brokerage Participants (hereinafter referred to as the “OSBPs”) and Overseas Intermediaries shall perform the physical delivery via those OSBPs and Overseas Intermediaries respectively.
Unless otherwise prescribed by the Exchange, the Clients who cannot issue or accept the prescribed invoices of the Exchange shall not make or take delivery.

Article 9 The grades and quality specifications shall be set forth in the futures contract.

Article 10 The Exchange may implement commodity registration for delivery commodities.

Article 11 The Exchange may charge delivery fees from buyers and sellers of the physical delivery. The fee standard shall refer to the specific provisions of the corresponding listed futures contracts in these Delivery Rules.

Chapter 2 Standard Delivery

Article 12 The physical delivery of a matured futures contract shall be completed within the delivery period provided by the futures contract. The delivery period refers to the five (5) consecutive trading days immediately after the last trading day of the futures contract. These five (5) consecutive trading days are called the First, Second, Third, Fourth and Fifth Delivery Day respectively. The Fifth Delivery Day is the last delivery day.
1. The First Delivery Day (Application)
(1) Buyers submit notice of intentions. Buyers submit a notice of intention to accept the required commodities to the Exchange via the Standard Warrant Management System, including information such as the products, quantities, the names of the Designated Delivery Storage Facilities, etc.
(2) Sellers submit standard warrants. Sellers submit the valid standard warrants for which storage fees have been paid in full to the Exchange via the Standard Warrant Management System. Sellers are responsible for the storage fees before the Fifth Delivery Day (including that day), while the buyers are responsible for the storage fees after the Fifth Delivery Day.
2. The Second Delivery Day (Matching)
The Exchange matches and allocates available standard warrants in accordance with the principles of “time priority, quantity rounding, nearest matching, and overall arrangement”.
The Exchange allocates the standard warrants that cannot be used for the physical delivery of the futures contract in the next month to the buyers according to the proportion of each buyer’s delivery volume in the total delivery volume of the month.
3. The Third Delivery Day (Payment and obtaining the warrant)
(1) Buyers pay and obtain the warrants. Buyers shall make the payment to the Exchange before 14:00 on the Third Delivery Day and obtain the standard warrants.
(2) Sellers receive the payment. The Exchange shall transfer the payment to the sellers before 16:00 on the Third Delivery Day. This time limit may be extended by the Exchange under special circumstances.
4. The Fourth and Fifth Delivery Day (Submitting invoices and returning margin)
Sellers shall submit all the invoices corresponding to the delivery commodities to the Exchange. The format and content of the invoices shall follow the provisions of the Exchange. Other matters regarding the returning of margin and the submission of invoices shall follow the relevant provisions of the Clearing Rules of the Shanghai International Energy Exchange.

Article 13 When the Members perform physical delivery at the Exchange, the standard warrant shall be transferred in the following procedure:
1. The Members as sellers submit the standard warrants to the Exchange.
2. The Exchange allocates the standard warrants to the Members as buyers.

Article 14 When the Clearing Delivery Principals perform physical delivery at the Exchange, the standard warrant shall be transferred in the following procedure:
1. The Clearing Delivery Principals of Members as sellers authorize the Members as sellers to take the standard warrants for physical delivery.
2. The Members as sellers submit the standard warrants to the Exchange.
3. The Exchange allocates the standard warrants to the Members as buyers.
4. The Members as buyers allocate the standard warrants to the Clearing Delivery Principals.
The Members as buyers shall allocate the standard warrants that are allocated to them to their Clearing Delivery Principals before the last delivery day (including that day). The OSBPs or Overseas Intermediaries shall decide when to allocate the standard warrants with the Members as buyers, and then allocate the standard warrants to their Clients before the last delivery day (including that day). The Members as buyers or OSBPs shall promptly report the reasons to the Exchange when they fail to allocate the standard warrants within the prescribed time.
The Clients shall comply with the third paragraph of Article 8 during the circulation of the standard warrants when their OSBPs or Overseas Intermediaries conduct the physical delivery on their behalf.

Article 15 Unless otherwise prescribed by the Exchange or relevant institutions, the circulation procedures of the Members’ invoices are as follows:
1. The Members as sellers issue the invoices to the Exchange.
2. The Exchange issues the invoices to the Members as buyers.

Article 16 Unless otherwise prescribed by the Exchange or relevant institutions, the circulation procedures of the invoices of the Clearing Delivery Principals are as follows:
1. The Clearing Delivery Principals of the Members as sellers issue the invoices to their Members as sellers.
2. The Members as sellers issue the invoices to the Exchange.
3. The Exchange issues the invoices to the Members as buyers.
4. The Members as buyers issue the invoices to their Clearing Delivery Principals.
When the OSBPs or Overseas Intermediaries perform the physical delivery for their Clients, they shall directly issue or receive the invoices to or from the Members that provide clearing services to them; the Clients shall issue or receive the invoices by reference to the third paragraph of Article 8.

Article 17 Any “loss compensation” or “overfill and underfill” that occurs within the permissible range of a futures contract shall follow the specific provisions regarding the listed futures contract in these Delivery Rules.

Article 18 The final settlement price of a futures contract is the benchmark price for the delivery of such futures contract, and shall follow the specific provisions regarding the listed futures contract in these Delivery Rules.
At the time of delivery settlement, the buyer and the seller shall calculate payment based on the final settlement price of the futures contract, and add premiums or discounts determined by the Exchange based on different grades, qualities, places of production, delivery venues, etc. of the delivery commodities.

Chapter 3 Exchange of Futures for Physicals

Article 19 The exchange of futures for physicals, or the EFP, is the process where the buyers and the sellers who hold opposite positions of a futures contract expiring in the same month reach an agreement through negotiation to, upon approval of the Exchange, tender a notice of EFP to have their respective positions in such contract closed out by the Exchange at the price prescribed by the Exchange, and exchange, at the price mutually agreed upon, the warrant of the underlying commodity which has a quantity equivalent to and is identical to or similar with the underlying commodity of the futures contract.

Article 20 The EFP application period is from the listing day of a futures contract to the second trading day (including that day) prior to the last trading day of the contract.

Article 21 The Members, OSPs, Overseas Intermediaries and Clients may tender their EFP intentions via the Exchange’s Standard Warrant Management System. The contents of the intentions shall include the Clients’ trading codes, the products, the contract months, the directions of the transactions, the delivery methods of the EFPs, quantities, the contact information, etc. The buyers and sellers may reach an agreement on their own initiatives based on the EFP intentions published by the Exchange.

Article 22 After the buyers and the sellers who hold opposite positions of a futures contract expiring in the same month reach an agreement, either party may submit the EFP application to the Exchange via the Standard Warrant Management System before 14:00 of any trading day (the application day) within the EFP application period, and perform the EFPs upon the approval of the Exchange.
The Members, OSPs, Overseas Intermediaries and Clients shall perform the EFPs according to the procedures prescribed in Article 8 of these Delivery Rules.

Article 23 If standard warrants are used for the EFPs and the EFPs are settled via the Exchange, the EFP application shall be submitted by the Members to the Exchange.

Article 24 The operational procedures that the Clearing Delivery Principals use the standard warrants for the EFPs and settle the EFPs via the Exchange are as follows:
1. The Clearing Delivery Principals of Members as sellers authorize the Members as sellers to take the standard warrants for the EFPs.
2. The Members as sellers submit the standard warrants to the Exchange within the prescribed time.
3. The Exchange allocates the standard warrants to the Members as buyers.
4. After the Members as buyers make payment, the Exchange releases the standard warrants that have been allocated to the Members as buyers, and transfer the payment to the Members as sellers.
5. The Members as buyers allocate the standard warrants to their Clearing Delivery Principals.
The Members as buyers shall allocate the standard warrants to their Clearing Delivery Principals within three (3) business days after they receive them. The OSBPs or Overseas Intermediaries shall decide when to allocate the standard warrants with the Members as buyers, and then allocate the standard warrants to their Clients within three (3) business days after they receive them. The Members as buyers or OSBPs shall promptly report the reasons to the Exchange when they fail to allocate the standard warrants within the prescribed time.
The Clients of OSBPs or Overseas Intermediaries shall perform the EFPs according to the procedures prescribed in the third paragraph of Article 8 of these Delivery Rules.

Article 25 The final settlement price of the EFPs is the price agreed by the buyer and the seller, while in case the bonded standard warrant is used and the settlement is conducted through the Exchange, the final settlement price of the EFPs shall be calculated according to the specific provisions regarding the listed futures contract in these Delivery Rules.

Article 26 If the standard warrants are used for the EFPs and the settlement is conducted via the Exchange, the trading margin shall be calculated based on the settlement price of the trading day before the application day for the corresponding delivery month contract. The exchange of the payment for the underlying commodities and the standard warrants shall be completed through the Exchange within the time agreed upon by the buyer and the seller.

Article 27 If the standard warrants are used for the EFPs and the settlement is conducted directly between the buyer and the seller, the buyer and the seller shall make payment on their own, and transfer privately settled standard warrants outside the Exchange in accordance with the procedures prescribed in these Delivery Rules, or transfer the standard warrants on their own after they make or take delivery.

Article 28 If the standard warrants are used for the EFPs and the settlement is conducted via the Exchange, the seller shall submit the invoices to the Exchange within five (5) trading days immediately after exchanging the payment for underlying commodities and the standard warrants. If the seller submits the invoices before 14:00, the Exchange shall return the corresponding margin during the settlement of the day to the seller after verification. If the seller submits the invoices after 14:00, the Exchange shall return the corresponding margin during the settlement on the next trading day to the seller after verification. After receiving the invoices from the seller, the Exchange shall issue the invoices to the buyer on the next trading day. If the seller fails to submit the invoices within the prescribed time, it shall be subject to the relevant provisions of the Clearing Rules of the Shanghai International Energy Exchange.

Article 29 All delivery payments of the EFP settled through the Exchange shall be handled through internal transfer, bank transfer, etc.

Article 30 If the standard warrants are used for the EFPs and the settlement is conducted via the Exchange, and if the delivery is not completed within the prescribed time, the relevant rules of delivery default shall apply. If there are disputes over the quality of the delivery commodities, the buyer shall submit a complaint and provide the quality inspection report issued by the Exchange’s Designated Inspection Agencies within ten (10) business days after the report is issued.

Article 31 If the non-standard warrants are used for the EFPs, the buyer and the seller shall abide by the relevant laws and regulations, and provide the relevant agreement for sale and purchase, the non-standard warrants and other materials. The payment for underlying commodities, the non-standard warrants and the invoices shall be transferred directly between the buyer and the seller. If there are disputes over the quality of the delivery commodities while non-standard warrants are used during the delivery, the relevant Members, OSPs and Overseas Intermediaries shall coordinate and resolve the disputes. The Exchange will be exempt from any responsibilities of guaranty thereof.

Article 32 The non-bona fide EFPs shall be subject to the relevant provisions of the Enforcement Rules of the Shanghai International Energy Exchange.

Article 33 The Exchange shall timely publish relevant information on EFPs.

Chapter 4 Warehouse Delivery
Article 34 Before applying for the issuance of warehouse standard warrants, the owners of the commodity shall submit a load-in application to the Exchange. The load-in application shall specify information including the products, the quantities, the names of the owners, the proposed load-in dates and names of the proposed Designated Delivery Storage Facilities, along with various documents and certificates.
The Members, OSPs, Overseas Intermediaries and Clients shall perform the load-in application according to the procedures prescribed in Article 8 of these Delivery Rules.
The information for the load-in application shall be true and accurate.

Article 35 The Exchange shall consider the willingness of the owners and the storage capacity to decide whether to approve the load-in application, and to determine the valid load-in period within three (3) trading days after it receives the required materials for the load-in application. Upon the approval of the Exchange, the owners shall transport the commodities to the Designated Delivery Storage Facilities within the valid load-in period. The valid load-in period comes into effect on the day of the Exchange’s approval. The Exchange may adjust the valid load-in period based on different circumstances. The valid load-in period shall follow the specific provisions regarding the listed futures contract in these Delivery Rules.
Standard warrants shall not be issued for the commodities if the load-in has not been approved or completed within the stipulated valid period.

Article 36 The owners shall pay a deposit for load-in according to the standards specified in the corresponding section of the listed futures contract in these Delivery Rules. The deposit for load-in shall be transferred from the Members’ clearing deposit by the Exchange.
Within two (2) trading days after the owner of the commodity completes load-in and obtains the warehouse standard warrants, the Exchange shall return the deposit for load-in to the Members’ clearing deposit. In case of partial load-in, the deposit in proportion to the quantity unloaded shall be paid to the Designated Delivery Storage Facilities as compensation; in case of load-in failure, all the deposit for load-in shall be paid to the Designated Delivery Storage Facilities as compensation. If the actual load-in quantity falls within the allowed tolerance of the futures contract, all the deposit for load-in shall be returned.
If the owners are Clearing Delivery Principals, the Exchange shall transfer the deposit from or to the clearing deposit of the Members that provide clearing services to such owners.

Article 37 The load-in and load-out inspection of futures commodities shall be conducted by the Designated Inspection Agencies in accordance with the inspection standards and methods specified in the Inspection Rules of corresponding futures products.
The seller may select an inspection agency among the Exchange’s Designated Inspection Agencies at the time of load-in, while the buyer may select an inspection agency among the Exchange’s Designated Inspection Agencies at the time of load-out. Should the Designated Delivery Storage Facilities have a dispute against the inspection agency selected by the buyer or the seller, they may negotiate with the buyer or the seller to select another Designated Inspection Agency. If the negotiation fails, the Designated Delivery Storage Facilities may appeal to the Exchange to select another Designated Inspection Agency.
The buyer, the seller and the Designated Delivery Storage Facilities shall cooperate with the Designated Inspection Agencies for their inspection. The inspection fees shall be paid by the seller at the time of load-in, and be paid by the buyer at the time of load-out, unless otherwise prescribed in these Delivery Rules.

Article 38 The minimum quantity of load-in and load-out for the futures commodities shall follow the specific requirements regarding the listed futures contract in these Delivery Rules. The means of transportation shall meet the requirements on loading, unloading, measurement, etc. of the ports, the terminals, the Designated Delivery Storage Facilities, etc., and shall strictly satisfy the safety operation standards of the Designated Delivery Storage Facilities.

Article 39 The Designated Delivery Storage Facilities shall verify the futures commodities and the relevant documents and certificates upon the arrival of such commodities.
The applied load-in futures commodities shall be shipped directly from the port of the place of origin, or from the registered producer to the Designated Delivery Storage Facilities. No blending shall be allowed during the loading and storage, unless otherwise prescribed by the Exchange.
The Designated Delivery Storage Facilities have the rights to supervise and manage the transportation of commodities.

Article 40 The load-in inspection of futures commodities is classified into quality inspection and quantity inspection.
1. The load-in quality inspection
Before the load-in, the Designated Inspection Agency shall take samples of the commodities from the ship tanks or other transport containers (Sample A) and from the Designated Delivery Storage Facility (Sample B), and have them sealed. Sample A shall be classified into Sample A1 and Sample A2, where Sample A1 shall contain multiple samples taken from each single ship tank or single container of the load-in commodities, and Sample A2 shall contain the proportioning mixture of all the samples of A1. After load-in, the Designated Inspection Agency shall take another sample from the depot of the Designated Delivery Storage Facility (Sample C), conduct the inspection, and issue an inspection report. If Sample C passes the inspection, it means the commodities delivered by their owner are qualified. The quality inspection report of the commodities delivered by the owner is the inspection report based on Sample C.
If Sample C fails the inspection, the Designated Inspection Agency shall conduct inspection on Sample A and Sample B, and may result in one of the following four scenarios:
(1) If Sample A passes but Sample B fails the inspection, it means the commodities delivered by the owner are qualified. The Designated Delivery Storage Facility shall be liable for the disqualification of the commodities in the depot after the load-in. The inspection fees for Sample A and Sample B shall be borne by the Designated Delivery Storage Facility.
(2) If Sample B passes but Sample A fails the inspection, it means the commodities delivered by the owner are unqualified. The owner shall be liable for the disqualification of the commodities in the depot after the load-in. The inspection fees for Sample A and Sample B shall be borne by the owner.
(3) If both Sample A and Sample B pass the inspection, it means the commodities delivered by the owner are qualified. The Designated Delivery Storage Facility shall be liable for the disqualification of the commodities in the depot after the load-in. The inspection fees for Sample A and Sample B shall be borne by the Designated Delivery Storage Facility.
(4) If both Sample A and Sample B fail the inspection, it means the commodities delivered by the owner and those originally in the depot are both unqualified. Both the owner and the Designated Delivery Storage Facility shall be liable for the disqualification of the commodities in the depot after the load-in. The inspection fees for Sample A shall be borne by the owner and that for Sample B shall be borne by the Designated Delivery Storage Facility.
Under any of the above mentioned four scenarios, if either of Sample A1 or Sample A2 is unqualified, Sample A is considered unqualified. The quality inspection reports of the commodities delivered by the owner are all from Sample A.
2. The quality inspection shall be subject to the quality inspection report issued by the Designated Inspection Agency. Only if the quality inspection report satisfies the Exchange’s quality standards of the delivery commodities may the standard warrants be generated. The quantity inspection shall be subject to the quantity inspection report issued by the Designated Inspection Agency, and abide by the specific provisions regarding the corresponding listed futures contract in these Delivery Rules.
3. The owners’ liabilities for quality
The owners shall ensure that the delivered commodities satisfy the quality standards provided by the Exchange. If the owner’s delivered commodities do not satisfy the quality standards which makes other futures commodities non-deliverable (failing to satisfy the quality standards provided by the Exchange), the owners shall assume full liabilities.
4. The supervision of load-in
The owners shall supervise the load-in of commodities at the Designated Delivery Storage Facilities. Otherwise, the owner is deemed to agree with the inspection results issued by the Designated Inspection Agencies.

Article 41 Necessary documents and certificates of delivery such as quality certificates and inspection certificates shall be provided together with the delivery commodities of the futures contract. Such documents and certificates shall follow the specific requirements regarding the listed futures contract in these Delivery Rules.

Article 42 After the futures commodities have been loaded in and passed the inspection, the Designated Delivery Storage Facilities shall input the load-in inspection results into the Standard Warrant Management System, and the owners shall apply to the Exchange to issues standard warrants via Members, OSPs or Overseas Intermediaries. The Members, OSPs or Overseas Intermediaries shall apply to the Exchange to verify the necessary documents and certificates of delivery. After such documents and certificates are verified, the Exchange shall notice the Designated Delivery Storage Facilities to issue the standard warrants in the Standard Warrant Management System.

Article 43 After an Designated Delivery Storage Facility receives the Exchange’s notice, it shall issue the standard warrants in the Standard Warrant Management System according to the following requirements:
1. The number of the standard warrants as well as the relevant documents and certificates shall satisfy the Exchange’s requirements for load-in application;
2. The conditions of the commodities indicated in the standard warrants such as the quality, the package, etc. shall satisfy relevant provisions of the Exchange.

Article 44 When the legitimate holder of standard warrant applies to takes commodities, the Designated Delivery Storage Facilities shall deliver the commodities after verifying the standard warrant is valid. The owner may personally or authorize others to take commodities, or authorize the Designated Delivery Storage Facilities to take and deliver the commodities.
When the legitimate holder of standard warrant takes commodities, he/she shall authorize the Exchange’s Designated Inspection Agency to perform an on-site inspection of the quality and quantity of the delivery commodities. The quality and quantity of the load-out commodities shall be subject to the inspection report issued by the Designated Inspection Agency, and the inspection shall follow the specific provisions regarding the listed futures contract in these Delivery Rules. Samples shall be taken from the Designated Delivery Storage Facility for quality inspection. When the legitimate holder of standard warrant does not authorize the Exchange’s Designated Inspection Agency to perform the inspection, it is deemed that the Designated Delivery Storage Facility has delivered the commodities without any dispute. The Designated Delivery Storage Facility and the Exchange will no longer accept requests for dispute resolution against the delivered commodities.
When the legitimate holder of the standard warrant has any dispute against the delivered commodities, he/she shall apply in writing for dispute resolution to the Designated Delivery Storage Facility within ten (10) business days after the Designated Inspection Agency issues the inspection reports. The quality inspection conclusion issued by the Designated Inspection Agency shall also be provided with the application. If the application is not submitted within the specified time period, it is deemed that there is no dispute against the delivered commodities, and the Designated Delivery Storage Facility and the Exchange will no longer accept requests for dispute resolution against the delivered commodities.

Article 45 If the holder of the bonded standard warrants needs to make customs declaration in order to import the commodities, the relevant state provisions for bonded commodities shall be followed.
The bonded delivery settlement statement and the bonded standard warrant list for customs declaration shall be issued to the holder of the bonded standard warrant at the same time when such warrant is cancelled. The commodities for the customs declaration and their quantities shall be consistent with those specified in the bonded delivery settlement statement and the bonded standard warrant list.

Article 46 The transportation of the delivery commodities into and out of the Designated Delivery Storage Facilities shall be arranged by the buyers and the sellers.

Article 47 After the futures commodities pass the inspection, the Designated Delivery Storage Facilities shall undertake full responsibilities for their quality, safety, and other aspects from the load-in to the load-out of such commodities.. The Exchange shall examine and verify the stored commodities annually.

Chapter 5 Factory Delivery

Article 48 A factory shall apply to the Exchange for permission before issuing a factory standard warrant. The application shall include the product name, the name of the institution, the name of the owner, and the proposed number of the warrants to be issued.

Article 49 Before or at the time when the factory submits an application for issuing the factory standard warrant, the factory shall, according to relevant provisions, provide the performance bonds from the banks which correspond with the number of factory standard warrants to be issued and are recognized by the Exchange, or provide other guarantees recognized by the Exchange.
When the price of a futures contract greatly fluctuates, the Exchange may require the factory to adjust its guarantees based on the market changes.

Article 50 When the approved factory storage capacity is available and the required guarantee is provided, the Exchange shall decide whether to approve the factory to issue factory standard warrants within three (3) trading days after receiving the required application materials.

Article 51 The approved factory storage capacity means the maximum quantities specified in the factory standard warrants that the factory may issue (including those that have been issued but not yet been cancelled).
The confirmation of and adjustment to the approved storage capacity of each factory shall be approved and announced by the Exchange.
The approved factory storage capacity is determined by the Exchange based on its daily production capacity, factory storage capacity, daily delivery amount, credit of the factory, etc.

Article 52 After the factory submits the performance bonds, a Member, OSP or Overseas Intermediary shall submit relevant necessary documents and certificates, such as certificates showing payment is settled between the owner and the factory, to the Exchange for verification. After verifying and approving such documents and certificates, the Exchange shall notify the factory to issue a factory standard warrant in the Standard Warrant Management System.
The factory shall issue the factory standard warrant in the Standard Warrant Management System after receiving the Exchange’s notice.

Article 53 The factory standard warrants issued by the factory which is also the owner of such warrants shall not be collateralized as margin.

Article 54 The legitimate holder of the factory standard warrants shall pay storage fees to the factory during the period holding the standard warrants.

Article 55 The daily delivery amount of the factory refers to the minimum quantities of commodities that the factory shall arrange to deliver within twenty-four (24) hours. The confirmation of and adjustment to the daily delivery amount of the factory shall be approved and announced by the Exchange. The factory shall not change the daily delivery amount without approval. The manufacturer shall seek prior approval from the Exchange if it needs to adjust the daily delivery amount due to normal maintenance or other reasons.

Article 56 Defaults during factory delivery of different futures commodities shall be subject to specific provisions regarding the listed futures contracts prescribed in these Delivery Rules.

Chapter 6 Delivery Default

Article 57 Any of the following conducts constitutes delivery default:
1. The seller fails to deliver the required number of standard warrants within the prescribed delivery period;
2. The buyer fails to make the payment as required within the prescribed delivery period;
3. Other conducts the Exchange deems as delivery default.

Article 58 The following formulas shall be used to calculate the delivery default quantities of the buyer or the seller in a futures contract:
The delivery default quantity of the seller (lots) = the standard warrant quantities due (lots) – the standard warrant quantities delivered (lots)
The delivery default quantity of the buyer (lots) = (payment due – payment made) ÷ the final settlement price ÷ contract size
In calculating the delivery default quantity of the buyer in a futures contract, a deposit of twenty percent (20%) of the value of the contract shall be reserved for penalties and compensation.

Article 59 Once a delivery default occurs, the Exchange shall notify the defaulting party (the defaulter) and the non-defaulting party (the non-defaulter) before 16:30 on the day of default.

Article 60 In case only one party defaults, the defaulter shall pay the non-defaulter a penalty of twenty percent (20%) of the delivery default quantity multiplied by the contract size and the final settlement price. The Exchange returns the payment for commodities or the standard warrants to the non-defaulter to terminate the delivery.

Article 61 In case both the buyer and the seller default, the Exchange shall terminate the delivery, and impose a fine of five per cent (5%) of the contract value subject to default against the buyer and the seller respectively.

Article 62 When a delivery is terminated, the Exchange’s obligations to guarantee the delivery shall be dismissed.

Article 63 If a Member commits a partial delivery default, the Exchange may use the standard warrants or the payment for commodities received by the Member for default resolution.

Article 64 When a Clearing Delivery Principal fails to perform the physical delivery but the Member he/she authorizes performs the delivery on his/her behalf , the Exchange may, after reviewing and approving the Member’ application, transfer the corresponding standard warrants to the standard warrant account of the Member. The Member may deal with such standard warrants in accordance with the law.

Article 65 If a Member, an OSP, an Overseas Intermediary or a Client deliberately defaults on physical delivery, it shall be subject to the provisions prescribed in the Enforcement Rules of the Shanghai International Energy Exchange.

Article 66 A Member, an OSP, an Overseas Intermediary, a Client and a Designated Delivery Storage Facility that has defaulted on delivery shall be obliged to provide relevant supporting materials regarding such default.

Article 67 Any delivery dispute between a buyer or a seller and a Designated Delivery Storage Facility shall be timely reported to the Exchange by the Designated Delivery Storage Facility. The two disputing parties concerned may negotiate and settle the dispute between themselves. If the negotiation fails, either party may apply to an arbitral institution for arbitration according to their arbitration agreement, or bring suit in court if there is no arbitration agreement or the arbitration agreement is invalid.

Chapter 7 Management of Designated Delivery Storage Facilities

Article 68 An applicant applying to be a Designated Delivery Storage Facility shall meet the following criteria:
1. Having corresponding commodity storage business qualification which satisfies the local laws and regulations; having bonded storage business qualification if applying for the bonded delivery business;
2. Having sound financial condition and comparatively strong risk resistance capacity; having the amount of registered capital and net assets as prescribed by the Exchange;
3. Its warehouse storage capacity or factory production capacity satisfying the requirements prescribed by the Exchange;
4. Having good business reputation and no record of severe violations or disqualification of the Designated Delivery Storage Facility within the last three (3) years;
5. Having complete rules and sound systems for the production of relevant commodities, and the management of their load-in, load-out and storage; security and measurement of such commodities satisfying the requirements of relevant laws, regulations and industry rules;
6. Having a professional management team in which the senior managers shall have over five (5) years of production or storage facility management experience;
7. Having sound transportation, as well as sound and complete terminal facilities, ports and equipment thereof;
8. Recognizing and undertaking to abide by the General Exchange Rules, these Delivery Rules, etc.; and
9. Other requirements prescribed by the Exchange.
The Exchange is entitled to waive one or more conditions above depending on the financial condition, risk management capabilities and soundness of operation of the applicant.

Article 69 An applicant applying to be a Designated Delivery Storage Facility shall submit the following materials:
1. An application letter with valid signatures.
2. Certificates proving the establishment of enterprises such as the Business License, the Organization Code Certificate and the Tax Registration Certificate, qualification certificates for commodity storage business, and qualification certificates of metrology personnel.
3. Audit reports in the past two years issued by a Certified Public Accountant (CPA) firm.
4. Land use certificates (or Land lease contracts), terminal use certificates (or terminal lease contracts), and relevant supporting documents about port conditions and equipment.
5. Approval documents on the application for the Designated Delivery Storage Facility issued by the superior authority or the Board of directors of the applicant.
6. A guarantee letter of joint liability that satisfies the Exchange’s requirements.
7. Rules, systems and introductions of commodity load-in, load-out and storage management; resumes of the persons in charge and the management team.
8. Other documents required by the Exchange.
Relevant documents and materials may be waived at the Exchange’s discretion.

Article 70 The review and approval of the Designated Delivery Storage Facilities shall follow the following procedures:
1. The Exchange conducts a preliminary examination.
2. After the preliminary examination, the Exchange is entitled to conduct an on-site investigation and assessment.
3. Based on the results of the on-site investigation and assessment, and the provisions of the laws and regulations, the Exchange selects the best applicants and enters into an agreement of Designated Delivery Storage Facility with the candidate.

Article 71 After becoming a Designated Delivery Storage Facility as approved by the Exchange, the Designated Delivery Storage Facility shall:
1. Pay the performance deposit according to the requirements stipulated in the agreement of Designated Delivery Storage Facility.
2. Appoint one supervisor in charge of the futures delivery business and appoint designated personnel in charge of managing the delivery commodities and conducting the standard warrant businesses. The management shall be trained by the Exchange for delivery businesses.
3. Formulate operation instructions according to these Delivery Rules, and develop relevant futures delivery businesses only after the Exchange’s verification and approval.
4. Satisfy other requirements prescribed by the Exchange.

Article 72 The Exchange may use back-up delivery storage facilities when it deems necessary. As the back-up storage for Designated Delivery Storage Facilities, back-up delivery storage facilities include back-up warehouses and back-up factories.
The application and approval of back-up delivery storage facilities shall be processed according to the requirements and procedures for the Designated Delivery Storage Facilities prescribed in Articles 68, 69 and 70 of these Delivery Rules. The Exchange shall enter into an agreement with back-up delivery storage facilities that pass verifications. But before the back-up delivery storage facilities formally come into use, the Exchange is entitled to require the storage facilities to provide relevant updated application materials in accordance with Article 69 depending on specific circumstances.
After the Exchange officially announces to use the back-up delivery storage facilities, the back-up delivery storage facilities will become the Designated Delivery Storage Facilities and shall conduct businesses according to the stipulations in Article 71 of these Delivery Rules.

Article 73 A storage facility shall submit an application to the Exchange to give up its Designated Delivery Storage Facility qualification, and the application shall be reviewed and approved by the Exchange.

Article 74 The Designated Delivery Storage Facilities shall not conduct the following activities:
1. Issuing fake warrants;
2. Violating the business rules of the Exchange and restricting the load-in or load-out of delivery commodities;
3. Disclosing business secrets regarding futures trading;
4. Violating relevant State regulations to engage in futures trading;
5. Failing to deliver commodities on time or to cooperate with Designated Inspection Agencies on their inspections without justified reasons;
6. Other activities violating the Exchange’s provisions.

Article 75 If a Designated Delivery Storage Facility does not meet the application requirements or seriously violates the Exchange’s rules and regulations, the Exchange may disqualify the Designated Delivery Storage Facility.

Article 76 A Designated Delivery Storage Facility shall complete the following matters if it has given up its qualification or been disqualified:
1. Moving out all delivery commodities or convert them into physicals.
2. Settling all credits and debts with the Exchange.
3. Refunding performance deposit.

Article 77 The approval, give-up or disqualification of a Designated Delivery Storage Facility shall be timely announced by the Exchange and reported to the China Securities Regulatory Commission.

Article 78 A Designated Delivery Storage Facility is entitled to the following rights:
1. Issuing standard warrants in compliance with the Exchange’s rules.
2. Charging relevant fees according to the service items, fee schedules and methods approved by the Exchange.
3. Advising the Exchange on its relevant provisions regarding physical delivery.
4. Other rights provided in these Delivery Rules and the agreement of Designated Delivery Storage Facilities.

Article 79 A Designated Delivery Storage Facility shall perform the following obligations:
1. Abiding by the General Exchange Rules, these Delivery Rules and other relevant rules of the Exchange, accepting the Exchange’s supervision and management, and timely informing the Exchange of relevant situations.
2. Inspecting and accepting futures delivery commodities according to the quality standards provided in the futures contract, and cooperating with the Designated Inspection Agencies in the quality and quantity inspections of delivery commodities.
3. Safely keeping commodities in the Designated Delivery Storage Facility according to relevant provisions to ensure the safety of such commodities, and that the quantities and qualities of such commodities meet the relevant requirements.
4. Specifying the locations to store the futures delivery commodities based on the approved storage capacity, and ensuring that the futures commodities and physical commodities are stored separately; setting an independent account book for the futures delivery commodities.
5. Keeping business secrets regarding futures trading.
6. Engaging in the Exchange’s annual audit.
7. Fully paying the performance deposit.
8. Timely reporting to the Exchange about any changes to its legal representatives, registered capital, shareholders or equity structure, storage venues, authorized personnel, terminal facilities, port conditions, charging items, etc.
9. Abiding by the provisions of all applicable laws and regulations (including the laws and regulations regarding environmental protection; if a Designated Delivery Storage Facility engages in bonded delivery business, it shall comply with relevant requirements of the Customs) and fulfilling other obligations provided in these Delivery Rules and the agreement of Designated Delivery Storage Facilities.

Article 80 A Designated Delivery Storage Facility shall cooperate with the owners to coordinate relevant agencies including the terminals, ports, pipeline companies, customs and commodity inspection agencies, etc., and ensure the prioritized load-in and load-out of futures delivery commodities.

Article 81 When an owner conducts the load-in of commodities, the Designated Delivery Storage Facility shall perform the following obligations:
1. Assisting the owners to timely and accurately load in commodities and ensuring the clarity of the formalities and responsibilities.
2. According to the Exchange’s provisions, examining and verifying relevant certificates and documents for the commodities and cooperating with the Designated Inspection Agencies to inspect the quality and quantity of such commodities.
3. After the commodities pass the inspection, confirming information on the quantity, quality, storage venue, etc. of the commodities during the generation of standard warrants; issuing the standard warrants after receiving the Exchange’s approval.

Article 82 After the commodities pass the inspection and are loaded in, a Designated Delivery Storage Facility shall store and safely keep the commodities according to the relevant rules of the State and the Exchange.

Article 83 When an owner requests to load out commodities, the Designated Delivery Storage Facility shall verify the load-out certificates and conduct the load-out if no problems are identified after the verification.

Article 84 A Designated Delivery Storage Facility shall record the commodity ownership transfer, as well as record and write off such information in the documents and account books.

Article 85 When conducting the formalities for commodities load-in and load-out, a Designated Delivery Storage Facility shall enter the corresponding data into the Standard Warrant Management System within twenty four (24) hours after the Designated Inspection Agency issues the inspection report.

Article 86 A Designated Delivery Storage Facility shall conduct measurement in accordance with the Metrology Law of the People's Republic of China, the Rules for the Implemention of the Metrology Law of the People's Republic of China, the Administrative Measures on Verification of Measuring Instruments for Compulsory Verification of the People’s Republic of China, and other rules and regulations on metrology.

Article 87 All the measuring instruments for compulsory verification used for futures delivery such as the flow meter, thermometer, density meter, oil (water) dip ruler, oil storage tanks, and measuring instruments and meters for ensuring safety, shall have valid and qualified certificates of verification. The metrology personnel of a Designated Delivery Storage Facility shall have legally obtained the qualification certificates issued by the local metrology authorities and abide by the metrology regulations.

Article 88 A Designated Inspection Agency shall formulate Inspection Rules for commodity futures based on the features of different futures commodities. These Inspection Rules shall be published by the Designated Inspection Agencies separately.

Article 89 During the operation of a Designated Delivery Storage Facility, the staff thereof, together with the Designated Inspection Agencies, the owners and transportation representatives, shall examine the quantity and quality of commodities and the speed of receiving and delivering such commodities, take and seal the samples according to the provisions, and complete the handover for measurement properly.

Article 90 A Designated Delivery Storage Facility shall assume the responsibilities for the disqualification caused by mixing different batches of qualified futures commodities.

Article 91 A Designated Delivery Storage Facility shall assume the losses due to pipeline transportation, pump losses and volatilization during the load-in, load-out and storage of commodities. An owner shall compensate the Designated Delivery Storage Facility according to the loss compensation standards prescribed in the provisions regarding listed futures contracts in these Delivery Rules.

Article 92 The service items and fee schedules during the load-in, load-out and storage of the futures commodities shall be verified, approved and announced by the Exchange. An owner shall pay corresponding storage fees to a Designated Delivery Storage Facility before the 25th (or the previous business day if the 25th is a national holiday) of each month.

Article 93 An owner shall pay the deficiency in load-in deposit to the Designated Delivery Storage Facility based on the difference between the applied load-in quantity and the actual load-in quantity, unless otherwise prescribed.

Article 94 A Designated Delivery Storage Facility shall purchase relevant commercial insurance for the futures commodities stored within the approved storage capacity.

Article 95 A Designated Delivery Storage Facility shall make contingency plans. When accidents happen at the Designated Delivery Storage Facilities that may affect the safety of the futures commodities and the load-in and load-out operations, or have an adverse impact on the society, the Designated Delivery Storage Facility shall immediately notify the Exchange.
If there are overflow, leak, and discharge of commodities or any other environmental pollution during the load-in, load-out, and storage of futures commodities, the Designated Delivery Storage Facility shall perform necessary control and cleaning work according to the laws, regulations, and the requirements of government authorities, and inform relevant environmental protection authorities and the Exchange of the status of the above-mentioned overflow, leak, discharge as well as the control and cleaning work. The Designated Delivery Storage Facility shall be fully liable for any judgment, claim, or cost resulting from the environmental pollution.

Article 96 The Exchange implements random checks and annual examinations. Items of examination include the storage facilities, storage capacity, storage appearance, operational capacity, business performance, account management, owners satisfaction and other items the Exchange deems necessary.
1. The Exchange may carry out random checks at any time on one or more aspects of the work of the Designated Delivery Storage Facilities and make detailed records, in order to ensure the implementation of the Exchange’s provisions in the daily operation of the Designated Delivery Storage Facilities.
2. The Exchange implements an annual examination of the Designated Delivery Storage Facilities each year, conducts assessment and evaluation, and proposes requirements for the next year. For the Designated Delivery Storage Facilities that do not meet the requirements, the Exchange may reduce their approved storage capacity, suspend their delivery business or even remove their qualifications as Designated Delivery Storage Facilities.

Article 97 A Designated Delivery Storage Facility shall conduct monthly self-examinations and keep the records thereof according to these Delivery Rules and its actual situations.

Article 98 The specific amount and payment method of the performance deposit shall be specified in the agreement of the Designated Delivery Storage Facility. If no economic compensation liabilities due to default or other reasons occur to the Designated Delivery Storage Facility, the Exchange shall return the interests of the performance deposit to the Designated Delivery Storage Facility before the end of each year (The interests are calculated at the demand deposit rate published by the People’s Bank of China). If a Designated Delivery Storage Facility is required to pay economic compensation and has not paid in full, the Exchange shall pay the compensation with the performance deposit of the Designated Delivery Storage Facility, and if such deposit is not sufficient for the compensation, the Exchange has the right to recourse the compensation from the Designated Delivery Storage Facility.

Article 99 If a standard warrant holder cannot fully or partially exercise the right of using the standard warrants because of the faults of the Designated Delivery Storage Facility, the Designated Delivery Storage Facility shall assume the compensation liabilities.
If the Designated Delivery Storage Facility is not the legitimate holder of the standard warrants, it shall not claim ownership of the futures commodities, or place any mortgage or other security interests on the futures commodities. If the Designated Delivery Storage Facility enters into bankruptcy or other credit and debt disputes, the futures commodities, which are deposited in the Designated Delivery Storage Facility by futures market participants but do not belong to the Designated Delivery Storage Facility, shall not be classified as the bankruptcy property or the sealed-up or distrained property of the Designated Delivery Storage Facility.

Chapter 8 Management of Standard Warrants

Article 100 The Exchange shall establish, maintain and manage the Standard Warrant Management System, and manage the standard warrant related businesses prescribed in these Delivery Rules.
The standard warrant business participants such as the Exchange, Members, OSPs, Overseas Intermediaries, Clients and Designated Delivery Storage Facilities shall use the Exchange’s Standard Warrant Management System for all businesses related to standard warrants.

Article 101 A Member, an OSP or an Overseas Intermediary shall appoint designated personnel to conduct delivery, clearing and settlement, and other standard warrant businesses through the Standard Warrant Management System.

Article 102 A standard warrant business participant shall submit application materials through the Standard Warrant Management System and open a standard warrant account before holding standard warrants and engaging in the standard warrant businesses. The materials for account opening shall be authentic, complete and valid.
The standard warrant account follows the trading code system; i.e. each standard warrant business participant shall have one exclusive standard warrant account.
A Member, an OSBP and an Overseas Intermediary shall assist its Clients in opening standard warrant accounts and be responsible for verifying the authenticity, completeness and validity of the provided materials.
The opening procedures of standard warrant account and the operation details of the Standard Warrant Management System shall be prescribed by the Exchange separately in accordance with these Delivery Rules.

Article 103 Once a standard warrant is created in the Standard Warrant Management System, it will exist electronically and include the following items:
1. The (full) name of owner;
2. The product name, quantity and quality of the commodities;
3. The storage venues;
4. The storage fees;
5. The amount and period of insurance, and the name of the insurer, if the stored commodities are insured;
6. The issuer of the warrant and the date of issuance;
7. Other information the standard warrants shall record.

Article 104 A standard warrant may be used for physical delivery, margin collateral, pledge, transfer, taking delivery and other purposes prescribed by the Exchange.

Article 105 Procedures of creating a warehouse standard warrant include load-in application, review and approval of the load-in application, commodity load-in, inspection and acceptance, review and approval of warrant issuance application, warrant issuance by the warehouse, final confirmation, etc.; the procedures of creating a factory standard warrant include submission of the issuance application, verification by the Exchange, issuance by the factory, final confirmation, etc.
The procedures regarding warehouse standard warrants such as load-in application, review and approval of load-in application, commodity load-in, inspection and acceptance, review and approval of the warrant issuance application, warrant issuance by the warehouse, etc. shall follow the provisions in Chapter 4 of these Delivery Rules. The procedures regarding factory standard warrants such as the submission of the issuance application, verification by the Exchange, issuance by the factory, etc. shall follow the provisions in Chapter 5 of these Delivery Rules.

Article 106 An owner shall conduct final confirmation of the standard warrants created by the Designated Delivery Storage Facilities. If the owner does not check and confirm the standard warrants within three (3) days after receiving the notice of inspection and acceptance for the standard warrants, it is deemed that the final confirmation has been made and the standard warrants shall enter into force automatically.

Article 107 The valid periods of standard warrants shall be prescribed by the Exchange based on the different features of futures commodities. The expired standard warrants shall not be used for futures delivery. The valid periods for the standard warrants shall follow the specific provisions regarding the listed futures contract in these Delivery Rules.

Article 108 A Member shall directly apply to the Exchange for using standard warrants as margin collaterals.
Procedures for a Clearing Delivery Principal to authorize a Member to use standard warrants as margin collaterals are as follows:
1. The Clearing Delivery Principal shall authorize the Member to use the designated standard warrant as the Members’ own margin collateral.
2. The Member shall select the standard warrants authorized by the Clearing Delivery Principal and submit them to the Exchange. When the Member submits the standard warrants, it shall indicate whether the standard warrants shall be used as margin collateral, or as the performance bonds for the positions of the futures contract of the same product and quantity as indicated on the warrant.
3. Only after the Exchange’s verification and approval may the standard warrants be used as margin collateral.
When a Client of OSBPs or Overseas Intermediaries deposits the standard warrants to the Exchange to serve as margin collateral, he/she shall authorize his/her OSBPs or Overseas Intermediaries to complete relevant procedures.

Article 109 In case the Clearing Delivery Principal authorize the Member to use the standard warrants as margin collateral, the Member may apply to the Exchange to redeem the standard warrants after its required margin is fully paid.
If a dispute over the redemption of the standard warrants arises between the Member, OSBP, Overseas Intermediary and its Client, the Exchange may reassign the corresponding standard warrants to the standard warrant accounts as provided in the agreement entered into by the Member, OSBP, Overseas Intermediary and its Client, or resort to legal documents that have entered into force.

Article 110 A Member shall directly apply to the Exchange to redeem the standard warrants which are served as margin collaterals.
Procedures for a Clearing Delivery Principal to redeem the standard warrants which are served as margin collaterals are as follows:
1. The Clearing Delivery Principals shall submit an application.
2. After the Member receives the application, it shall timely submit the application to the Exchange to redeem the standard warrants.
3. The Exchange shall verify the application. After the Exchange approves the application, it shall return the corresponding standard warrants to the Member.
4. The Member shall timely return the corresponding standard warrants to the Clearing Delivery Principal; if the Member fails to return the warrants in time, it shall report the reasons to the Exchange.
When a Client of an OSBP or Overseas Intermediary redeems the standard warrants which are served as margin collaterals, he/she shall authorize his/her OSBP or Overseas Intermediary to complete relevant procedures.

Article 111 Other matters related to the standard warrants served as margin collaterals shall follow the relevant provisions of the Clearing Rules of the Shanghai International Energy Exchange.

Article 112 The use of a standard warrant as pledge allows the pledger (the debtor or the third person) to place the standard warrant in the possession of the pledgee (the creditor) to guarantee the performance of its obligation. In the event the debtor fails to perform its obligations or the stipulated conditions for enforcing the pledge occur, the pledgee has the right to be paid in priority at a price equivalent to the value of the standard warrant, or out of the proceeds of auction or sale of the standard warrant in accordance with laws or agreements.

Article 113 The pledger shall indicate the information of the standard warrants to be used as pledge in the pledge agreement that it enters into with the pledgee, and provide a duplicate copy of the pledge agreement to the Designated Delivery Storage Facility for record.

Article 114 The pledge registration procedure of the standard warrants in the Standard Warrant Management System is as follows:
1. If the pledger uses the standard warrants for pledge, it shall submit a pledge registration application to the Designated Delivery Storage Facilities via the Standard Warrant Management System.
2. The Designated Delivery Storage Facilities verify the pledge registration application according to the duplicate copy of the pledge agreement.
3. The pledgee confirms the standard warrants submitted for pledge registration via the Standard Warrant Management System.
4. The Designated Delivery Storage Facilities shall register and manage the pledged standard warrants, and shall not perform physical delivery, transfer, taking delivery, etc.
If the bonded standard warrant is to be pledged, the filing procedure shall be conducted with the competent customs authority in advance.

Article 115 The Designated Delivery Storage Facilities shall register and manage the standard warrants used as pledge, and safely keep the warranted commodities.

Article 116 The procedure of discharging a standard warrant as pledge is as follows:
1. The pledgee shall submit a discharge application to the Designated Delivery Storage Facility via the Standard Warrant Management System to discharge a standard warrant.
2. The Designated Delivery Storage Facility verifies the discharge application.
3. The pledger confirms the standard warrant submitted for the discharge via the Standard Warrant Management System.
If the bonded standard warrant is to be discharged, the filing procedure shall be conducted with the competent customs authority in advance.

Article 117 The Designated Delivery Storage Facility shall provide the pledger and the pledgee the standard warrant pledge checklist and the standard warrant discharge checklist with its signature and corporate seal.

Article 118 The standard warrants may be transferred off the Exchange and settled either between a buyer and a seller, or via the Exchange. If the settlement is via the Exchange the Exchange will charge delivery fees based on the fee standards.

Article 119 The procedure of transferring standard warrants settled between a buyer and a seller is as follows:
1. The seller inputs the name of the products, names of the Designated Delivery Storage Facilities, trading code and name of the buyer, the details of the corresponding standard warrants and other relevant information into the Standard Warrant Management System, and then submits the application for transfer.
2. The buyer confirms the application for transfer via the Standard Warrant Management System.
3. The Designated Delivery Storage Facilities verify the application for transfer.
4. The buyer makes the payment as bilaterally agreed.
5. Upon receiving the payment, the seller releases the standard warrants to the buyers’ standard warrant accounts.

Article 120 The procedure of transferring standard warrants settled by the Members via the Exchange is as follows:
1. The seller inputs the name of products, names of the Designated Delivery Storage Facilities, trading code and name of the buyer, transfer price, the details of the corresponding standard warrants and other relevant information into the Standard Warrant Management System, and then submits the application for transfer.
2. The buyer confirms the application for transfer via the Standard Warrant Management System, and deposits the payment into the Member’s dedicated margin account.
3. The Designated Delivery Storage Facilities verify the application of transfer and notify the buyer, the seller and the Exchange thereof.
4. The Exchange prints the settlement statements for transferring the standard warrants, and collects and remits the payment.
5. The Exchange releases the standard warrants, and transfer the corresponding standard warrants to the buyer’s standard warrant account.
A Clearing Delivery Principal shall conduct the transfer of standard warrants settled via the Exchange through the Member according to the preceding paragraph.
When a Client of an OSBP or Overseas Intermediary transfers the standard warrants settled via the Exchange, he/she shall authorize the OSBP or Overseas Intermediary to complete relevant procedures.
The Exchange shall complete the transfer procedures by the end of the day if the application for transferring the standard warrants is submitted before 14:00 of the day. The Exchange shall complete the transfer procedures on the next trading day if the application for transferring the standard warrants is submitted after 14:00 of the day

Article 121 If an owner needs to modify any data within the permissible range of the Exchange, such as the storage venues of standard warrants, it shall submit a modification application the standard warrants via the Standard Warrant Management System. The data will be modified upon the verification by the Designated Delivery Storage Facilities and the Exchange.

Article 122 If a Designated Delivery Storage Facility needs to change the storage venue for the underlying commodities of the standard warrants, it shall apply to the Exchange in advance. The Exchange shall respond to the application within ten (10) trading days. The Designated Delivery Storage Facility shall notify the owner after the change is completed, and timely modify the venue data of the corresponding standard warrants in the Standard Warrant Management System.

Article 123 For the futures commodities subject to valid quality inspection period, when the quality inspection report for the corresponding commodities of standard warrants expires, the owners shall have the commodities re-inspected, and apply to the Exchange for changing the quality inspection report. After the Exchange verifies the revised quality inspection report, the Designated Delivery Storage Facilities shall change the corresponding quality inspection report and the quality inspection date as shown in the Standard Warrant Management System.

Article 124 In the event that a dispute regarding standard warrants arises between the standard warrant business participants, such as a dispute over the ownership of the standard warrants, the Exchange may, either at the request of the interested parties or at its sole discretion, freeze the corresponding standard warrants until the dispute is resolved.

Article 125 An applicant for freezing or unfreezing the standard warrants shall have valid legal documents and other supporting materials. Once the Designated Delivery Storage Facility verifies the application, it may freeze or unfreeze the standard warrants through the Standard Warrant Management System.
The Designated Delivery Storage Facility shall notify and report to the Exchange for the freezing and unfreezing of standard warrants.
During the freezing period of the standard warrants, the Designated Delivery Storage Facility shall take good care of the relevant commodities. After the standard warrant is unfrozen, the Designated Delivery Storage Facility shall dispose of relevant commodities pursuant to valid legal documents.

Article 126 The revocation of standard warrants refers to the process when the owners have objections against the data of the standard warrants issued by the Designated Delivery Storage Facilities that have entered into force, except for the data that the Exchange allows to be adjusted such as the storage venues and the quality inspection dates, the owners shall submit an application for revoking the standard warrants, and the standard warrants will be cancelled after being verified by the Designated Delivery Storage Facilities and the Exchange.
If the revoked standard warrants need to be renewed as a corresponding new standard warrant, a new load-in application shall be conducted with the Exchange.

Article 127 The load-out of standard warrants refers to the process where the legal holders of the standard warrants apply to the Designated Delivery Storage Facilities via the Standard Warrant Management System for taking delivery or for converting the standard warrants into physical delivery order, and the Designated Delivery Storage Facilities complete the above process. The standard warrants shall be cancelled upon the completion of load-out.

Article 128 When a legal holder of standard warrants takes delivery, he/she shall submit a load-out application of standard warrants to the Designated Delivery Storage Facility. After the Designated Delivery Storage Facility verifies the application, its shipping department shall deliver the commodities according to the load-out checklist of standard warrants and the relevant documents and certificates.

Article 129 A legal holder of standard warrants shall indicate the ways of taking delivery in the load-out application.
1. If the owner takes delivery at a storage facility in person, the Designated Delivery Storage Facility shall release the commodities after verifying the standard warrant. The owner shall supervise the delivery at the storage facilities. Otherwise, it shall be deemed that the owner has confirmed the delivery by the Designated Delivery Storage Facility.
2. If another party is authorized to take delivery, the owner shall submit a power of attorney, and indicate the authorized person, password for taking the delivery, the contact persons and telephone numbers in the load-out application. The Designated Delivery Storage Facility shall release the commodities after verifying the standard warrant. The authorized person shall supervise the delivery at the storage facility. Otherwise, it shall be deemed that the owner has confirmed the delivery by the Designated Delivery Storage Facility.
3. If the owner authorizes the Designated Delivery Storage Facility to take delivery and dispatch commodities, the owner shall submit a power of attorney, and indicate the shipping address, the contact persons and telephone numbers in the load-out application. The Designated Delivery Storage Facility shall release the commodities after verifying the standard warrant. It shall be deemed that the owner has confirmed the delivery by the Designated Delivery Storage Facility.

Article 130 At the time of commodity load-out, the Designated Delivery Storage Facility shall timely fill in the Load-out Confirmation Form for Standard Warrant, which shall be signed and confirmed by the persons who take the delivery, and keep it safe for further examinations.

Chapter 9 Management of Commodity Registration

Article 131 The Exchange may implement commodity registration management on the delivery commodities. If a futures contract of the listed products is subject to commodity registration management, the commodities used for the physical delivery must be approved for registration by the Exchange. The registered commodities approved by the Exchange for exemption from inspection may be exempted from quality inspection at the delivery.

Article 132 The delivery commodities for the commodity registration application shall meet the following requirements. The specific requirements are separately prescribed in the provisions regarding the listed futures contract in these Delivery Rules.
1. An enterprise that applies for commodity registration shall be a domestic or foreign manufacturer of the relevant commodities and comply with the following requirements:
(1) The enterprise shall meet the Exchange’s requirements for production capacity and outputs, and have been operating continuously and smoothly for no less than two (2) years;
(2) The enterprise has considerable popularity and reputation and holds relevant certificates for quality, environmental management, security, etc.;
(3) Its production process satisfies the relevant domestic and foreign industry standards.
2. The commodities applied for registration shall meet the following requirements:
(1) The quality standard shall meet the national standards and the Exchange’s technical requirements;
(2) The commodities are widely used for the last three (3) years in the relevant fields;
(3) The commodities the enterprises apply for registration shall have a considerable share in the physical market, and have considerable popularity in the industry.
3. The commodities are recommended by more than one (1) Member or OSP of the Exchange.
4. Other requirements prescribed by the Exchange.

Article 133 The following materials shall be provided for commodity registration:
1. An application letter for registration and an undertaking letter that both have been signed with validity;
2.The documents proving the establishment of the company, including the business license, organization code certificate, tax registration certificate, business registration certificate, etc.;
3. The corporate shareholders and ownership structure, the corporate structure and its branches;
4. The commodity registration forms;
5. The documents proving the quality of the commodities;
6. The accreditation documents for quality, environment, security, etc.;
7. The documents proving the major production equipment and facilities of the enterprise meet the requirements;
8. The latest audited annual financial report;
9. The recommendation letters for the commodity registration from more than one (1) Members or OSPs of the Exchange. The recommenders shall be responsible for the accuracy and completeness of the application materials, as well as the qualification, credit, production capacity, etc. of the applicant;
10. Other documents required by the Exchange.
If the commodities for registration have registered trademarks, the certificates of trademark registration shall also be provided.

Article 134 The procedure of registration is as follows:
1. Pre-review
The Exchange pre-reviews the written materials provided by the enterprises applying for commodity registration. The applicants shall pass the pre-review in order to enter the next stage of registration.
2. Quality supervision and inspection
The Exchange shall designate inspection agencies and relevant personnel to conduct the quality supervision and inspection on the domestic and foreign commodities according to the relevant provisions of the State and the Exchange.
3. Approval of registration
The Exchange shall determine whether to approve the commodity registration based on the application materials, the quality supervision and inspection of the commodities, etc. If the registration is approved, the Exchange shall publicly announce the registration.

Article 135 The applicants for the commodity registration shall pay the following fees:
1. The commodity registration fee for each brand is RMB one hundred thousand (¥100,000);
2. The commodity inspection fee for each manufacturer is RMB fifty thousand (¥50,000).
The Exchange may adjust the relevant fee standards based on the actual situations. The registration fee shall be paid before the approval of registration.

Article 136 The Exchange performs routine checks and annual inspections over the registered commodities to ensure the quality of the delivery commodities.
1. The Exchange selectively conducts quality checks at any time over the delivery commodities stored in each Designated Delivery Storage Facility.
2. The Exchange authorizes the Designated Inspection Agencies to conduct an annual inspection over the registered commodities. The manufacturers of the registered commodities shall provide the annual inspection reports of the enterprises to the Exchange before the end of each year, covering the continuous operations of the enterprises, the major changes in production and operations, and other information.
The fees for the routine checks and annual inspections shall be paid by the manufacturers of the registered commodities. The Exchange may issue the notice for rectification to the manufacturers of the registered commodities according to the results of the routine checks and annual inspections.

Article 137 If any of the following circumstances occurs to the registered commodities, the Exchange may suspend or revoke the registration:
1. Division, merger, change of name, or change of organizational structure of the manufacturers of the registered commodities;
2. Transfer of the registered trademark of the commodity;
3. Dissolution or bankruptcy of the manufacturers of the registered commodities;
4. The quality of the registered commodities still fails to meet standards after the rectification, in case the registered commodities fail the routine checks or annual inspections,;
5. More than two cases of complaints in the last year about the failure to pass inspections which have been verified by the Exchange;
6. The manufacturer poorly performs in production and operation, or its annual outputs do not meet the requirements prescribed by these Delivery Rules, and no explanation has been made to the Exchange;
7. The manufacturer of the registered commodities does not report the major changes in the production or operation to the Exchange according to the relevant provisions;
8. Other circumstances determined by the Exchange.
When the first or the second circumstance mentioned above occurs, the commodities shall be re-registered.

Article 138 If any quality dispute of the delivery commodities arises during the delivery, the manufacturer of the registered commodities shall cooperate with the Exchange to properly resolve the dispute. If the quality problems of the delivery commodities are caused by the manufacturer of the registered commodities, the manufacturer shall assume the compensation liabilities.

Chapter 10 Delivery of Crude Oil Futures Contract

Article 139 The crude oil futures contract implements physical delivery. Matured crude oil futures contracts shall adopt physical delivery according to the standard delivery procedures, while the immature crude oil futures contracts may adopt EFP delivery procedures.

Article 140 The delivery of the crude oil futures contract implements bonded delivery, which refers to the delivery of crude oil for the futures contract in bonded status and in bonded oil tanks at the Designated Delivery Storage Facilities.

Article 141 The delivery of the crude oil futures contract implements warehouse delivery. The specific procedures shall follow the provisions in Chapter 4 of these Delivery Rules.

Article 142 After the market close on the eighth trading day prior to the last trading day of a crude oil futures contract, the positions in such futures contract held by a natural person as a Client that may not deliver or receive the invoices prescribed by the Exchange shall be zero (0) lot. From the seventh trading day prior to the last trading day onwards, the positions held by such Client in the delivery month shall be directly liquidated by the Exchange.

Article 143 The delivery unit of a crude oil futures contract is one thousand (1000) barrels. The actual delivery amount shall be the integral multiple(s) of the delivery unit.

Article 144 Delivery grades are prescribed in the Standard Crude Oil Futures Contract of the Shanghai International Energy Exchange. The crude oil is not subject to commodity registration.

Article 145 The minimum load-in amount of the crude oil is two hundred thousand (200,000) barrels. The minimum load-out amount of the crude oil is two hundred thousand (200,000) barrels. If the load-out amount is less than two hundred thousand (200,000) barrels, the load-out operations may only be performed after the deficiency is supplemented by physicals, etc., unless otherwise agreed between the owners and the Designated Delivery Storage Facilities.

Article 146 The load-in deposit of crude oil is RMB one point five (1.5) yuan / barrel.

Article 147 Before submitting a load-in application, an owner shall properly coordinate with relevant agencies such as terminals, ports, pipeline companies, customs, commodity inspection agencies, etc. The owner shall submit the load-in application to the Exchange no less than thirty (30) days prior to the proposed load-in date for the crude oil to be loaded into the Designated Delivery Storage Facilities. The valid period for crude oil load-in is five (5) days before and after the proposed load-in date for the crude oil.

Article 148 The crude oil being loaded in shall be the crude oil that is shipped from the loading port in the country or region of origin, or stored in the bonded oil tanks in the Designated Delivery Storage Facilities recognized by the Exchange, and shall not be mixed with other oil during the loading and storage. One bonded oil tank in the Designated Delivery Storage Facilities shall not contain a mixture of crude oil of different deliverable types.

Article 149 When the bonded standard warrants are created at the time of crude oil load-in, the inspection reports issued by the Designated Inspection Agencies, bill of lading, certificate of origin, approval of load-in by the customs and other relevant documents shall be provided to the Exchange for verification.
The bonded standard warrants for crude oil are not subject to the valid period requirement.

Article 150 The load-in and load-out operations at the Designated Delivery Storage Facilities shall not affect the quality and quantity of the loaded crude oil. Before and after the crude oil load-in or load-out operations, the Designated Delivery Storage Facilities shall ensure that the oil pipelines are either fully filled or emptied, the oil quality in the pipelines does not affect the quality of loaded or unloaded oil, and the oil in the pipelines is in full liquidity.

Article 151 The amount of crude oil at load-in or load-out is subject to the quantity of crude oil net-volume barrels measured by the Designated Inspection Agencies based on the shore tanks of the Designated Delivery Storage Facilities. Quantity inspection shall be measured by the tank capacity gauge. If the load-out amount is below the standard of the Exchange, the inspection agencies may choose flow meter or other measurement tools in measuring.
The formula for the quantity of crude oil net-volume barrel is:
Crude Oil Net-Volume Barrel Quantity = Crude Oil Gross-Volume Barrel Quantity × (1 – the Percentage of Basic Sediment and Water (BSW))
Crude Oil Gross-Volume Barrel Quantity = Crude Oil Total Measured Volume – Water Content Volume

Article 152 The loss compensation at load-in or load-out of crude oil shall be made by the owners to the Designated Delivery Storage Facilities according to the following formula, and shall be settled between the owners and the Designated Delivery Storage Facilities within three (3) business days after the inspection reports are issued by the Designated Inspection Agencies:
Loss compensation at load-in = quantities of issued crude oil bonded standard warrants × 0.6‰ × (settlement price of the previous trading day prior to the load-in completion day of the first-nearby crude oil futures contract + premiums or discounts of the delivery)
Loss compensation at load-out = quantities of cancelled crude oil bonded standard warrants × 0.6‰ × (settlement price of the previous trading day prior to the load-out completion day of the first-nearby crude oil futures contract + premiums or discounts of the delivery)

Article 153 The “overfill or underfill” during crude oil load-in is the difference between the quantity specified on the quantity certificates issued by the Designated Inspection Agencies and the issued quantity on the bonded standard warrants. Crude oil “overfill or underfill” quantity during the load-in shall not exceed ±2% of the applied quantity. Within the allowed tolerance, bonded standard warrants are created with quantity rounded into thousand barrels. The owners shall directly settle with the Designated Delivery Storage Facilities according to the following formula within three (3) business days after the inspection reports are issued by the Designated Inspection Agencies:
The payment for overfill or underfill during load-in = crude oil “overfill or underfill” quantity within tolerance × (settlement price of the first-nearby crude oil futures contract of the previous trading day prior to load-in completion day + premiums or discounts of the delivery)
The “overfill or underfill” during crude oil load-out is the difference between the quantity specified on the quantity certificates issued by the Designated Inspection Agencies and the cancelled quantity on the bonded standard warrants. The crude oil “overfill or underfill” quantity during load-out shall not exceed ±2% of the quantity on bonded standard warrants. The owner shall directly settle with the Designated Delivery Storage Facilities according to the following formula within three (3) business days after the inspection reports are issued by the Designated Inspection Agencies:
The payment for overfill and underfill during load-out= crude oil “overfill and underfill” quantity within tolerance × (settlement price of the first-nearby crude oil futures contract of the previous trading day prior to load-out completion day + premiums or discounts of the delivery)

Article 154 The final settlement price of the crude oil futures is the benchmark price for the delivery settlement of crude oil futures, and is calculated as the arithmetic mean value of the settlement prices of that contract during the last five (5) trading days with executed transactions of the futures contract. At the delivery settlement, the buyers and the sellers shall settle based on the final settlement price of the crude oil futures contract and then add premiums or discounts of the delivery.
1. The bonded final settlement price is the calculation and assessment basis of the duty-paid price after customs declaration by the holders of crude oil bonded standard warrant. The formula for the bonded final settlement price of the matured contract is:
Bonded Final Settlement Price = Final Settlement Price
2. When the bonded standard warrant is used for EFPs, the formula for the EFP bonded final settlement price is:
EFP Bonded Final Settlement Price = Settlement price of the previous trading day immediately before the EFP application day of the delivery month contract
3. When non-standard warrants are used for the EFPs, the final settlement price shall be negotiated by both parties.

Article 155 The formula of delivery payment with crude oil bonded standard warrant is:
Delivery Payment for Matured Contract = (Bonded Final Settlement Price + Premiums and Discounts of the Delivery) × Delivery Quantity
EFP Delivery Payment = (EFP Bonded Final Settlement Price + Premiums and Discounts of the Delivery) × Delivery Quantity
The requirements and management of the invoice for crude oil futures contract shall be announced separately by the Exchange. The circulation procedure of the invoice shall follow the provision in Chapter 2 of these Delivery Rules.

Article 156 The buyers and sellers of the physical delivery shall pay a delivery fee of RMB zero point zero five (0.05) yuan/barrel to the Exchange respectively.

Article 157 The delivery venues are the Designated Delivery Storage Facilities announced separately by the Exchange.
The charging items and standards of the Designated Delivery Storage Facilities shall be announced separately by the Exchange.

Article 158 The Designated Inspection Agencies shall be announced separately by the Exchange.

Article 159 Definitions in the crude oil futures delivery:
1. “Crude oil” in these Delivery Rules refers to the liquid hydrocarbons exploited directly from underground natural reservoirs, or a mixture of its natural forms. The influence of volatilization of light hydrocarbons, hydrogen sulfide, mercaptan, etc. on atmospheric environment during the loading and unloading of crude oil shall conform to the local regulatory requirements.
2. “Water Content” means the free water, which is separated from the oil layer and generally stays below the oil layer.
3. “Basic Sediment and Water” means the suspended sediments, dissolved water and suspended water in the oil. The water and sediments shall be identified respectively according to ASTM D4006 and ASTM D473. The amount of basic sediment and water is the sum of the two and shall be generally shown in percentage.

Chapter 11 Miscellaneous

Article 160 The buyers and sellers in these Delivery Rules include Members, OSPs, Overseas Intermediaries or Clients. The owners in these Delivery Rules mean the persons who have the legal ownership of the commodities.

Article 161 All written materials submitted to the Exchange by the relevant entities prescribed by these Delivery Rules shall have Chinese versions and the Chinese versions shall prevail, unless otherwise recognized by the Exchange.

Article 162 Any matters not provided in these Delivery Rules shall be governed by the Articles of Association, the General Exchange Rules and other implementing rules of the Shanghai International Energy Exchange.

Article 163 The Exchange reserves the right to interpret these Delivery Rules.

Article 164 These Delivery Rules are effective as of May 11th, 2017.

上海国际能源交易中心交割细则

第一条 为了保证上海国际能源交易中心（以下简称能源中心）期货交割业务的正常进行，加强指定交割仓库、标准仓单和商品注册的管理，规范交割行为，根据《上海国际能源交易中心交易规则》和有关实施细则，制定本细则。

第二条 能源中心交割业务适用本细则。能源中心、会员、境外特殊参与者、境外中介机构、客户、指定交割仓库、指定检验机构等交割业务参与者应当遵守本细则。

第三条 期货合约的交割可以采用实物交割或者能源中心规定的其他交割方式。

第四条 实物交割是指根据能源中心的规则和程序，买方、卖方通过该期货合约所载商品所有权的转移，了结未平仓期货合约的过程。

期货合约的实物交割按照交割商品完税状态不同，可以分为保税交割和完税交割。保税交割是指以海关特殊监管区域或者保税监管场所内处于保税监管状态的、期货合约所载商品作为交割标的物进行实物交割的方式。完税交割是指已进入国内贸易流通的，已缴纳关税、增值税等税款的期货合约所载商品作为交割标的物进行实物交割的方式。

期货合约的实物交割按照交割场所性质的不同，可以分为仓库交割、厂库交割等交割方式。仓库交割是指买卖双方以仓库标准仓单形式，按规定程序履行实物交割的方式。厂库交割是指买卖双方以厂库标准仓单形式，按规定程序履行实物交割的方式。

第五条 指定交割仓库包括仓库和厂库。仓库是指具备商品仓储资质的企业所使用的，经能源中心批准并指定为某一商品期货履行实物交割的地点。厂库是指商品生产企业所使用的，经能源中心批准并指定为某一商品期货履行实物交割的地点。

指定交割仓库经能源中心审定批准后另行公布。

第六条 标准仓单是指定交割仓库按照能源中心规定程序签发的、在能源中心标准仓单管理系统生成的提货凭证。标准仓单以外的提货凭证属于非标准仓单。

标准仓单按照期货商品完税状态不同，分为保税标准仓单和完税标准仓单。

标准仓单按照指定交割仓库性质不同，分为仓库标准仓单和厂库标准仓单。

第七条 采用实物交割的期货合约，到期后所有未平仓合约应当按照标准交割流程进行交割，未到期期货合约可以按照期货转现货（以下简称期转现）流程进行交割。

第八条 会员应当直接在能源中心办理实物交割。

会员的客户、委托会员结算的境外特殊参与者、委托会员交易结算的境外中介机构（前述客户、境外特殊参与者和境外中介机构统称为结算交割委托人）应当通过会员在能源中心办理实物交割。

境外特殊经纪参与者、境外中介机构的客户，应当分别通过该境外特殊经纪参与者、境外中介机构办理实物交割。

除能源中心另有规定外，不能交付或者接受能源中心规定发票的客户不得参与实物交割。

第九条 交割品质在期货合约中载明。

第十条 能源中心可以对交割商品实行商品注册管理。

第十一条 能源中心可以向实物交割的买方、卖方收取交割手续费。收取标准按照本细则上市品种期货合约部分的具体规定执行。

第二章 标准交割

第十二条 到期期货合约的实物交割应当在期货合约规定的交割期内完成。交割期是指该期货合约最后交易日后的连续五个交易日。该五个连续交易日分别称为第一、第二、第三、第四、第五交割日。第五交割日为最后交割日。

（一） 第一交割日（申请）

1、买方申报意向。买方通过标准仓单管理系统向能源中心提交所需商品的买入意向书，内容包括品种、数量及指定交割仓库名称等。

2、卖方提交标准仓单。卖方通过标准仓单管理系统向能源中心提交已付清仓储费用的有效标准仓单。第五交割日之前（含当日）的仓储费用由卖方支付，第五交割日之后的仓储费用由买方支付。

（二） 第二交割日（配对）

能源中心根据已有资源，按照“时间优先、数量取整、就近配对、统筹安排”的原则对标准仓单进行配对后分配。

标准仓单不能用于下一月份期货合约实物交割的，能源中心按各买方交割量占当月交割总量的比例原则向买方分摊标准仓单。

（三） 第三交割日（交款取单）

1、买方交款、取单。买方应当在第三交割日14:00之前向能源中心交付货款并取得标准仓单。

2、卖方收款。能源中心应当在第三交割日16:00之前将货款支付给卖方，遇特殊情况能源中心可以延长货款给付时间。

（四） 第四、第五交割日（交票退款）

卖方向能源中心提交交割商品所对应的全部发票。发票的格式和内容应当符合能源中心的规定。保证金清退和发票提交等其他事宜，按照《上海国际能源交易中心结算细则》的有关规定处理。

第十三条 会员在能源中心进行实物交割的，标准仓单流转程序如下：

1. 卖方会员将标准仓单提交给能源中心
2. 能源中心将标准仓单分配给买方会员。

第十四条 结算交割委托人在能源中心进行实物交割的，标准仓单流转程序如下：

（一）卖方会员的结算交割委托人将标准仓单授权给卖方会员以办理实物交割业务。

（二）卖方会员将标准仓单提交给能源中心。

（三）能源中心将标准仓单分配给买方会员。

（四）买方会员将标准仓单分配给结算交割委托人。

买方会员应当在最后交割日之前（含最后交割日）将分配到其名下的标准仓单分配给结算交割委托人。境外特殊经纪参与者或者境外中介机构应当与买方会员约定标准仓单的分配时间，并在最后交割日之前（含最后交割日）将标准仓单再分配给客户。买方会员或者境外特殊经纪参与者不能按时分配标准仓单的，应当及时向能源中心报告原因。

境外特殊经纪参与者或者境外中介机构为其客户办理实物交割手续的，客户参照第八条第三款执行标准仓单流转程序。

第十五条 会员的发票流转程序如下：

（一）卖方会员向能源中心开具发票。

（二）能源中心向买方会员开具发票。

能源中心或者相关机构另有规定的除外。

第十六条 结算交割委托人的发票流转程序如下：

（一）卖方会员的结算交割委托人向卖方会员开具发票。

（二）卖方会员向能源中心开具发票。

（三）能源中心向买方会员开具发票。

（四）买方会员向其结算交割委托人开具发票。

境外特殊经纪参与者或者境外中介机构为客户办理实物交割手续的，应当向为其结算的会员直接开具或者收取发票；客户应当参照第八条第三款开具或者收取发票。

能源中心或者相关机构另有规定的除外。

第十七条 某期货合约允许范围内的数量损耗补偿和溢短，按照本细则上市品种期货合约部分的具体规定执行。

第十八条 某期货合约的交割结算价是期货合约交割结算的基准价，按照本细则上市品种期货合约部分的具体规定执行。
交割结算时，买方、卖方以期货合约的交割结算价为基础，再加上因交割商品的品质、质量、产地、交割地等不同由能源中心确定的交割升贴水。

第三章 期货转现货

第十九条 期转现是指持有方向相反的同一月份期货合约的买方和卖方协商一致并向能源中心提出申请，获得批准后，将各自持有的期货合约按照能源中心规定的价格由能源中心代为平仓，按双方协议价格进行与期货合约标的物数量相当、品种相同或者相近的仓单等交换的过程。

第二十条 期转现的申请期限该期货合约上市之日起至最后交易日前二个交易日（含当日）止。

第二十一条 会员、境外特殊参与者、境外中介机构、客户可以通过能源中心标准仓单管理系统发布期转现意向。发布内容包括客户编码、品种、合约月份、买卖方向、期转现交割方式、数量、联系方式等。买方和卖方可以根据能源中心公布的期转现意向主动达成协议。

第二十二条 持有同一交割月份期货合约的买方和卖方达成协议后，在期转现的申请期限内的某一交易日（申请日）14:00前，由任意一方通过标准仓单管理系统向能源中心提交期转现申请，经能源中心批准进行期转现。

会员、境外特殊参与者、境外中介机构以及客户应当按照本细则第八条规定的流程办理期转现。

第二十三条 期转现使用标准仓单并通过能源中心结算的，由会员向能源中心提交申请。

第二十四条 结算交割委托人使用标准仓单并通过能源中心结算的期转现业务流程如下：

（一）卖方会员的结算交割委托人将标准仓单授权给卖方会员以办理期转现业务。

（二）卖方会员在规定期限内将标准仓单提交给能源中心。

（三）能源中心将标准仓单分配给买方会员。

（四）买方会员交款后，能源中心释放分配到该买方会员名下的标准仓单，并将货款支付给卖方会员。

（五）买方会员将标准仓单分配给结算交割委托人。

买方会员在取得标准仓单后3个工作日内向其结算交割委托人分配标准仓单。境外特殊经纪参与者或者境外中介机构应当与买方会员约定标准仓单的分配时间，并在取得标准仓单后3个工作日内再分配给其客户。买方会员、境外特殊经纪参与者不能按时分配标准仓单的，应当及时向能源中心报告原因。

境外特殊经纪参与者、境外中介机构的客户应当按照本细则第八条第三款规定的流程办理期转现。

第二十五条 期转现的交割结算价为买方和卖方达成的协议价，但使用保税标准仓单并通过能源中心结算的，期转现的交割结算价应当按照本细则中上市品种期货合约部分的具体规定计算。

第二十六条 期转现使用标准仓单并通过能源中心结算的，交易保证金按申请日前一交易日相应的交割月份合约的结算价计算，货款和标准仓单的交付由买方和卖方在约定的时间内通过能源中心办理。

第二十七条 期转现使用标准仓单并自行结算的，货款由买方、卖方自行交付，标准仓单由买方、卖方按照本细则中自行结算的标准仓单在能源中心外转让流程办理，或者提货后自行交付。

第二十八条 期转现使用标准仓单并通过能源中心结算的，卖方应当在办理货款和标准仓单交付手续后5个交易日内向能源中心提交发票。卖方在14:00之前交付发票的，能源中心复核无误后在当日结算时向卖方清退相应的保证金。卖方在14:00之后交付发票的，能源中心复核无误后在下一交易日结算时向卖方清退相应的保证金。能源中心在收到卖方发票的下一个交易日内向买方开具发票。卖方未在规定期限内提交发票的，按《上海国际能源交易中心结算细则》的有关规定处理。

第二十九条 通过能源中心结算的期转现交割货款应当采用内转或者银行划转等方式。

第三十条 期转现使用标准仓单并通过能源中心结算，未在规定的期限内完成交割的，按交割违约的有关规定执行；发生交割实物质量纠纷的，买方应当在能源中心指定检验机构出具质量检验报告后10个工作日内提出质量异议申请，并应当同时提供指定检验机构出具的质量检验报告。

第三十一条 期转现使用非标准仓单的，买方和卖方应当遵守有关法律、法规，并提供相关的买卖协议、非标准仓单等材料。货款和非标准仓单及发票由买方和卖方自行交付。使用非标准仓单交割发生实物质量纠纷的，由相关会员、境外特殊参与者、境外中介机构协调处理，能源中心对此不承担担保责任。

第三十二条 对于非善意的期转现行为，按照《上海国际能源交易中心违规处理实施细则》的有关规定处理。

第三十三条 能源中心应当及时公布期转现的有关信息。

第四章 仓库交割

第三十四条 货主申请生成仓库标准仓单前，应当向能源中心提交入库申报。入库申报内容包括品种、数量、货主名称、拟入库日期及拟入指定交割仓库名称等，并提供各项单证。

会员、境外特殊参与者、境外中介机构以及客户应当按照本细则第八条规定的流程办理入库申报手续。
入库申报资料应当属实。

第三十五条 能源中心在库容允许的情况下，考虑货主意愿，在收到符合规定的入库申报资料之日起3个交易日内决定是否批准入库申报和入库有效期。经能源中心批准入库的，货主应当在有效期内向指定交割仓库发货。入库有效期自能源中心批准之日起生效。能源中心可以视情况，调整入库有效期。入库有效期按照本细则上市品种期货合约部分的具体规定执行。

未经能源中心批准入库或者未在规定的有效期内入库的商品不能生成标准仓单。

第三十六条 入库申报时，货主应当按照本细则上市品种期货合约部分规定的标准交纳申报押金。申报押金由能源中心从会员结算准备金中划转。

货主办理完入库手续并取得仓库标准仓单后2个交易日内，能源中心将申报押金清退至会员结算准备金中。入库申报数量部分执行的，差额部分的申报押金应当补偿给指定交割仓库；入库申报数量全部没有执行的，申报押金应当全部补偿给指定交割仓库。实际入库量在期货合约数量溢短允许范围内的，入库申报押金全额返还。

货主为结算交割委托人的，能源中心从为其结算的会员的结算准备金中划转、清退。

第三十七条 期货商品入出库检验以指定检验机构按照期货品种对应的检验细则所载明的检验指标和方法检验为准。

入库时检验机构由卖方在能源中心指定检验机构中选择，出库时由买方在能源中心指定检验机构中选择。指定交割仓库对买方或者卖方选择的检验机构有异议的，可以与对方协商重新指定检验机构。协商不成的，可以向能源中心提出申请，由能源中心指定检验机构。
买方、卖方和指定交割仓库应当配合指定检验机构的检验工作。入库时的检验费用由卖方承担，出库时的检验费用由买方承担，本细则另有规定的除外。

第三十八条 期货商品入出库的最小量应当符合本细则上市品种期货合约部分规定的具体要求。运输工具应当符合港口、码头及指定交割仓库等在接卸和计量管理等方面的要求，并严格遵守指定交割仓库的安全操作规范。

第三十九条 期货商品运抵指定交割仓库后，指定交割仓库应当对到货及相关单证进行核验。

入库期货商品应当由商品原产地装运港起运或者注册生产企业原厂直接运达指定交割仓库，装运和储存期间不得进行调和，能源中心另有规定的除外。

指定交割仓库有权对商品运输环节进行监运管理。

第四十条 期货商品入库检验分为质量检验和数量检验。

（一）入库质量检验

入库前指定检验机构应当对船舱或者其他运输装载容器内的商品（A样）和指定交割仓库内原有商品（B样）取样并封样，A样分A1样和A2样，其中A1样指入库商品单独船舱或者单一装载容器样品（多个），A2样指A1样之配比混合样品。入库后指定检验机构对混合后指定交割仓库内的商品（C样）再次取样、化验并出具检验报告。如C样检测合格，表示货主交付的商品质量合格，货主所交付商品的质检报告为C样检验报告。

如C样检测不合格，指定检验机构应当对A样和B样进行化验，结果分以下四种情况：

1、如A样合格、B样不合格，表示货主交付的商品质量合格，指定交割仓库对混合后的库内商品质量不合格承担责任，A、B样的检验费用由指定交割仓库承担。

2、如A样不合格、B样合格，表示货主交付的商品质量不合格，货主对混合后的库内商品质量不合格承担责任，A、B样的检验费用由货主承担。

3、如A样合格、B样合格，表示货主交付的商品质量合格，指定交割仓库对混合后的库内商品质量不合格承担责任，A、B样的检验费用由指定交割仓库承担。

4、如A样和B 样均不合格，表示货主交付的商品和库内原有商品质量均不合格，货主和指定交割仓库对混合后的库内商品质量不合格共同承担责任，A样的检验费用由货主承担，B样的检验费用由指定交割仓库承担。

在以上四种情况下，A1样或者A2样中其中有一个样检验不合格，就认为A样不合格，货主所交付商品的质检报告均为A 样检验报告。

（二）质量检验以指定检验机构出具的质量检验报告为准，质量检验报告符合能源中心交割商品质量标准才能生成标准仓单；数量检验以指定检验机构签发的数量检验报告为准，按照本细则上市品种期货合约部分的具体规定执行。

（三）货主的质量责任

货主应当确保交割商品达到能源中心规定的质量标准。因货主交割商品质量不合格而导致其他期货商品变质（达不到能源中心规定的质量标准）的，货主应当承担全部责任。

（四）货主监收

商品入库时，货主应当到指定交割仓库监收；货主不到指定交割仓库监收的，视为货主同意指定检验机构的检验结果。

第四十一条 期货合约交割商品应当提供质量证明、检验证书等交割必备单证。具体期货合约的交割必备单证由本细则上市品种期货合约部分规定。

第四十二条 入库完毕并检验合格后，指定交割仓库应当将入库检验结果输入标准仓单管理系统，货主通过会员、境外特殊参与者或者境外中介机构向能源中心提交制作标准仓单申请。会员、境外特殊参与者或者境外中介机构持交割必备单证在能源中心办理审证手续。能源中心审查合格后，通知指定交割仓库在标准仓单管理系统中签发标准仓单。

第四十三条 指定交割仓库接到能源中心指令后，按照下列要求，在标准仓单管理系统中签发标准仓单。

（一）标准仓单的数量及相关单证符合能源中心入库申报要求；

（二）标准仓单所示商品的质量、包装等条件符合能源中心有关规定。

第四十四条 标准仓单合法持有人提货时，指定交割仓库在对标准仓单审核无误后予以发货。货主可以自行到库提货、委托提货或者委托指定交割仓库提货并发货。

标准仓单合法持有人提货时，应当委托能源中心指定检验机构对交割商品的质量和数量进行现场检验。出库交割商品的质量和数量检验以指定检验机构签发的检验报告为准，按照本细则上市品种期货合约部分的具体规定执行。质量检验应当在指定交割仓库内取样。标准仓单合法持有人未委托能源中心指定检验机构进行检验的，视为认可指定交割仓库发货无误，指定交割仓库和能源中心不再受理交割商品有异议的申请。

标准仓单合法持有人对交割商品的质量有异议的，应当在指定检验机构出具检验报告后10个工作日内，向指定交割仓库提出书面申请，并应当同时提供指定检验机构出具的质量鉴定结论。逾期未提出申请的，视为对交割商品无异议，指定交割仓库和能源中心不再受理交割商品有异议的申请。

第四十五条 保税标准仓单持有人需要对保税商品办理报关进口的，按照保税商品国家相关管理规定办理。
报关所需的保税交割结算单和保税标准仓单清单在保税标准仓单注销的同时向保税标准仓单持有人开具。报关商品与数量应当与所持有的保税交割结算单、保税标准仓单清单保持一致。

第四十六条 在指定交割仓库进行的实物交割，运输由买方、卖方自行解决。

第四十七条 期货商品自验收合格入库后至出库期间，指定交割仓库对所储存商品的质量、安全等承担全部责任。能源中心每年对在库商品进行检验。

第五章 厂库交割

第四十八条 厂库签发厂库标准仓单前，应当向能源中心提交签发申请。申请内容包括品种、机构名称、货主名称、拟申请签发厂库标准仓单数量等。

第四十九条 厂库应当在提交签发厂库标准仓单申请之前或者同时，按照规定提供经能源中心认可的与签发厂库标准仓单数量相对应的银行履约担保函或者能源中心认可的其他担保方式。

期货合约价格发生较大波动的，能源中心可以根据市场变化情况要求厂库调整担保。

第五十条 在厂库核定库容允许并提供了符合规定担保的情况下，能源中心应当在收到符合规定的申请资料之日起3个交易日内决定是否批准厂库签发厂库标准仓单。

第五十一条 厂库核定库容是指厂库可以签发（含已签发且尚未注销）的厂库标准仓单的最大数量。

每一厂库核定库容的确定和调整，应当经能源中心批准并公告。

能源中心根据厂库的日生产能力、厂库库容和日发货量以及厂库信用等相关指标核定库容。

第五十二条 厂库提交履约担保后，会员、境外特殊参与者、境外中介机构持货主与厂库结清货款的凭证等相关必备单证在能源中心办理审证手续。能源中心审查合格后，通知厂库在标准仓单管理系统中签发厂库标准仓单。

厂库接到能源中心批准签发厂库标准仓单指令后，在标准仓单管理系统中签发厂库标准仓单。

第五十三条 厂库以自己作为货主签发的厂库标准仓单不得作为保证金使用。

第五十四条 厂库标准仓单的合法持有人在标准仓单持有期间，应当向厂库支付仓储费用。

第五十五条 厂库的日发货量是指厂库在24小时之内安排商品发货的最低数量。厂库日发货量的确定和调整，应当经能源中心批准并公告。厂库不得擅自更改日发货量。生产企业因正常检修等原因需要调整日发货量的，应当提前报能源中心批准。

第五十六条 不同期货商品的厂库实物交割违约处理，按照本细则上市品种期货合约规定的具体要求执行。

第六章 交割违约

第五十七条 具有下列行为之一的，构成交割违约：

（一）在规定交割期限内卖方未能如数交付标准仓单的；

（二）在规定交割期限内买方未能如数解付货款的；

（三）能源中心认定的其他违约行为。

第五十八条 在计算买方、卖方交割违约合约数量的公式为：

卖方交割违约合约数量（手）=应交标准仓单数量（手）－已交标准仓单数量（手）

买方交割违约合约数量（手）=（应交货款－已交货款）÷交割结算价÷交易单位

在根据买方交割违约合约数量计算交割违约金额时，应当在买方相应的保证金中预留违约部分合约价值20%的违约金和违规惩罚金。

第五十九条 发生交割违约后，能源中心于违约发生当日16:30以前通知违约方和守约方。

第六十条 一方交割违约的，由违约方向守约方支付违约部分合约数量乘以交易单位乘以交割结算价后的20%作为违约金，能源中心退还守约方的货款或者标准仓单，终止本次交割。

第六十一条 买方、卖方均违约的，能源中心按照终止交割处理，并对双方分别收取违约部分合约价值5%的违规惩罚金。

第六十二条 终止交割后，能源中心交割履约保障责任终止。

第六十三条 会员发生部分交割违约的，能源中心可以将违约会员所接收的标准仓单或者所得货款用于违约处理。

第六十四条 结算交割委托人不能完成实物交割，其委托的会员替代履约的，能源中心在审核会员的申请后可以将相应的标准仓单转入会员标准仓单账户。会员可以依法处置相应的标准仓单。

第六十五条 会员、境外特殊参与者、境外中介机构、客户在实物交割环节蓄意违约的，按《上海国际能源交易中心违规处理实施细则》的有关规定处理。

第六十六条 发生违约行为的会员、境外特殊参与者、境外中介机构、客户及指定交割仓库有义务提供与违约行为相关的证据材料。

第六十七条 买方或者卖方与指定交割仓库产生交割纠纷的，指定交割仓库应当及时通知能源中心。纠纷双方可以自行协商解决；协商不成的，任何一方可以根据仲裁协议向仲裁机构申请仲裁；没有仲裁协议或者仲裁协议无效的，可以依法向法院起诉。

第七章 指定交割仓库管理

第六十八条 申请成为指定交割仓库应当具备以下条件：

（一）符合所在地法律法规要求的、能开展相应商品仓储业务的资质，申请保税交割业务的，应当具有保税仓库经营资质。

（二）财务状况良好，具有较强的抗风险能力，注册资本和净资产应当达到能源中心规定的数额。

（三）仓库总库容或者厂库生产能力应当达到能源中心规定的要求。

（四）具有良好的商业信誉，近3年内无严重违法行为记录和被取消指定交割仓库资格的记录。

（五）具有完善的相关商品生产或者出入库、库存管理等规章制度，安全、计量符合法律法规行业规定要求。

（六）主要管理人员应当有5年以上生产或者仓储管理经验，拥有专业管理团队。

（七）具有良好的交通运输条件，码头设施、港口条件及设备完好、齐全。

（八）认可并承诺遵守能源中心的交易规则、交割细则等。

（九）能源中心要求的其他条件。

能源中心有权根据申请人的财务状况、风险管理能力和运营稳健程度，豁免上述一项或者多项条件。

第六十九条 申请成为指定交割仓库应当提供下列材料：

（一）有效签署的申请书。

（二）营业执照、组织机构代码证、税务登记证等公司成立证明文件、商品仓储业务的资质证明文件及计量人员资质证明。

（三）注册会计师事务所出具的近两年审计报告。

（四）申请单位土地使用证（或者土地租用协议）、码头使用证（或者码头租用协议）及港口条件、设备的相关证明文件。

（五）申请单位上级主管部门或者其董事会出具的同意申请指定交割仓库的批准文件。

（六）符合能源中心要求的连带责任担保函。

（七）商品出入库、库存管理等规章制度及简介，主要管理人员简历、管理团队介绍。

（八）能源中心要求提供的其他文件。

能源中心豁免相关条件的，可以豁免提供相应文件和资料。

第七十条 审批指定交割仓库按照下列程序进行：

（一）能源中心进行初审。

（二）通过初审的，能源中心有权对申请单位进行实地调查和评估。

（三）能源中心根据实地调查、评估结果和法律法规规定，择优选用，并与之签订指定交割仓库协议书。

第七十一条 经能源中心批准成为指定交割仓库后，指定交割仓库应当办理以下事项：

（一）按照指定交割仓库协议书要求缴纳风险保证金。

（二）确定一名负责人主管期货交割业务，指定专人负责交割商品的管理和办理标准仓单业务，管理人员应当接受能源中心交割业务培训。

（三）根据本细则制定操作规程，经能源中心审定后方可开展相关期货交割业务。

（四）能源中心规定的其他事宜。

第七十二条 能源中心可以根据需要启用备用交割仓库。备用交割仓库作为指定交割仓库的备用库，包括备用仓库和备用厂库。

备用交割仓库的申请和审批按照本细则第六十八条、第六十九条、第七十条关于指定交割仓库的要求与程序办理。能源中心与通过审核的备用交割仓库签订备用交割仓库协议书，但在其正式启用前，有权视情况要求其按照第六十九条的规定更新相关申请材料。

能源中心正式发布备用交割仓库启用通知后，备用交割仓库转为指定交割仓库，并应当按照本细则第七十一条规定办理相关业务事宜。

第七十三条 指定交割仓库申请放弃指定交割仓库资格的，应当向能源中心递交放弃申请书，并经能源中心审核批准。

第七十四条 指定交割仓库不得从事下列行为：

（一）出具虚假仓单；

（二）违反能源中心业务规则，限制交割商品的入库、出库；

（三）泄露与期货交易有关的商业秘密；

（四）违反国家有关规定参与期货交易；

（五）无正当理由不按时交货和不配合指定检验机构的检验；

（六）违反能源中心规定的其他行为。

第七十五条 指定交割仓库不再符合申请条件或者严重违反能源中心的规则和规定的，能源中心可以取消其指定交割仓库资格。

第七十六条 指定交割仓库放弃或者被取消资格的，应当办理以下事项：

（一）交割商品全部出库或者全部转为现货。

（二）结清与能源中心的债权债务。

（三）清退风险保证金。

第七十七条 指定交割仓库资格确认、放弃或者取消的，能源中心应当及时公布，并报告中国证券监督管理委员会。

第七十八条 指定交割仓库具有以下权利：

（一）按照能源中心规定签发标准仓单。

（二）按照能源中心审定的收费项目、标准和方法收取有关费用。

（三）对能源中心制定的有关实物交割的规定享有建议权。

（四）本细则和指定交割仓库协议书规定的其他权利。

第七十九条 指定交割仓库应当履行下列义务：

（一）遵守能源中心的交易规则、交割细则等有关规定，接受能源中心监督管理，及时向能源中心提供有关情况。

（二）根据期货合约规定的质量标准，对期货交割商品进行验收，配合能源中心指定检验机构对交割商品进行质量和数量检验。

（三）按照规定保管指定交割仓库内的商品，确保商品的安全，且数量和质量符合规定。

（四）根据核定库容情况明确指定专用的期货交割位置，确保期货商品与现货商品分别储存；对期货交割商品单独设帐管理。

（五）保守与期货交易有关的商业秘密。

（六）参加能源中心组织的年审。

（七）足额缴纳风险保证金。

（八）变更法定代表人、注册资本、股东或者股权结构、储存场地、授权业务人员、码头设施、港口条件、计费项目等事项的，应当及时向能源中心报告。

（九）遵守所有适用的法律法规规定（包括有关环境保护的法律法规，从事保税交割业务的，应当遵守海关的相关要求）以及本细则和指定交割仓库协议书规定的其他义务。

第八十条 指定交割仓库应当配合货主协调码头、港口、管道运输、海关、商品检验等相关机构，保证期货交割商品优先入库、出库。

第八十一条 货主办理商品入库时，指定交割仓库应当履行以下义务：

（一）协助货主及时准确地接收入库商品，做到手续清楚、责任分明。

（二）按照能源中心有关规定，对商品的相关凭证进行审核，配合指定检验机构对商品的质量和数量进行检验。

（三）验收合格后，对标准仓单制作过程中的商品数量、质量、存放地点等内容予以确认，并在接到能源中心签发标准仓单许可指令后签发标准仓单。

第八十二条 商品经验收入库后，指定交割仓库应当按照国家及能源中心有关规定储存保管商品。

第八十三条 货主要求商品出库的，指定交割仓库应当核对出库凭证、检查无误后方可出库。

第八十四条 指定交割仓库应当做好商品的转让过户记录和资料账册的登记、核销工作。

第八十五条 指定交割仓库在办理商品入出库手续时，应当在指定检验机构出具检验报告后24小时内将相应数据录入标准仓单管理系统。

第八十六条 指定交割仓库应当按照《中华人民共和国计量法》、《中华人民共和国计量法实施细则》及《中华人民共和国强制检定的工作计量器具检定管理办法》等法律法规计量。

第八十七条 凡用于期货交割的流量计、温度计、密度计、量油（水）尺、储油罐及用于保证安全的计量器具、仪表等强制检定的计量器具，应当具备有效合格检定证书。指定交割仓库的计量工作人员应当依法获得当地计量主管部门颁发的从业资格证书，遵守计量法规。

第八十八条 指定检验机构根据不同期货商品的特性制定商品期货检验细则，由指定检验机构另行公告。

第八十九条 指定交割仓库作业时，工作人员应当会同指定检验机构、货主、车船代表对商品数量、质量、收付速度进行检查，并按照规定取样、封样，并做好交接计量工作。

第九十条 指定交割仓库应当承担不同批次质检合格的期货商品因混合而引起品质不合格所产生的责任。

第九十一条 指定交割仓库应当承担商品入出库和储存期间因管道运输、泵耗、挥发等原因产生的损耗。货主应当按照本细则上市品种期货合约部分规定的损耗补偿标准补偿指定交割仓库。

第九十二条 期货商品入出库和储存期间发生的费用项目和标准由能源中心核定并公布。货主应当在每月25日前（遇国家法定节假日提前至前一工作日）向指定交割仓库支付相应仓储费用。

第九十三条 货主应当根据入库申报数量和实际入库量的差异，将申报押金差额补偿指定交割仓库，另有约定的除外。

第九十四条 指定交割仓库应当为核定库容的期货商品购买相关的商业保险。

第九十五条 指定交割仓库应当制定应急预案。指定交割仓库发生各类事故，可能影响到期货商品安全、入出库操作以及对社会造成不良影响的，应当立即通知能源中心。

指定交割仓库的入出库操作和期货商品的储存期间，发生商品溢出、泄漏、排放或者任何其他环境污染的，指定交割仓库应当按照法律法规、政府部门要求，开展必要的控制和清理作业，并应当立即将上述溢出、泄漏、排放和作业情况通知相关环保部门和能源中心。因环境污染而引起的任何判决、索赔或者费用，指定交割仓库应当承担全部责任。

第九十六条 能源中心实行抽查和年审制度。审查的内容包括储存设施、库容库貌、业务能力、业务实绩、账目管理、货主满意程度以及能源中心认为必要的其他内容。

（一）能源中心可以随时对指定交割仓库的一项或者多项工作进行抽查，并做好详细记录，以检查指定交割仓库在日常工作中对能源中心各项规定的执行情况。

（二）能源中心每一年度对指定交割仓库的工作做一次年度检查，并进行考核评比，提出下一年度的要求。对不符合要求的指定交割仓库，能源中心可以减少核定库容、暂停交割业务、直至取消其指定交割仓库的资格。

第九十七条 指定交割仓库应当根据本细则和指定交割仓库的实际情况，每月进行自查并留存记录。

第九十八条 风险保证金的具体数额和交纳方式在指定交割仓库协议书上载明。指定交割仓库未发生因违约或者其他事由需要承担经济赔偿责任情形的，能源中心在每年年底前将风险保证金利息返还给指定交割仓库（利息按中国人民银行公布的同期银行活期存款利率计算）；发生经济赔偿且指定交割仓库未全部清偿的，能源中心首先用其所交纳的风险保证金赔偿，风险保证金不足以赔偿的，能源中心有权向指定交割仓库追索。

第九十九条 由于指定交割仓库的过错造成标准仓单持有人不能行使或者不能完全行使标准仓单权利的，指定交割仓库应当承担赔偿责任。

指定交割仓库不是标准仓单合法持有人的，对该标准仓单对应的期货商品不拥有所有权，不得在期货商品上创设任何抵押或者其他担保权益。指定交割仓库发生破产或者其他债权债务纠纷的，期货市场参与者存放的非指定交割仓库所有的期货商品，不属于指定交割仓库的破产财产和查封、扣押的财产范围。

第八章 标准仓单管理

第一百条 能源中心应当建立、维护和管理标准仓单管理系统，对本细则规定的标准仓单的各项业务进行管理。

能源中心、会员、境外特殊参与者、境外中介机构、客户及指定交割仓库等标准仓单业务参与者应当通过能源中心标准仓单管理系统办理与标准仓单业务有关的各项业务。

第一百零一条 会员、境外特殊参与者、境外中介机构应当安排专门人员使用标准仓单管理系统办理交割、结算等标准仓单业务。

第一百零二条 标准仓单业务参与者应当在标准仓单管理系统中，按照规定提交申请资料，开立标准仓单账户，方可持有标准仓单，参与标准仓单业务。开户资料应当真实、完整、有效。
标准仓单账户实行一户一码管理，即一个标准仓单业务参与者只能拥有一个标准仓单账户。

会员、境外特殊经纪参与者、境外中介机构应当协助客户开立标准仓单账户，并负责核查其所提供材料信息的真实性、完整性和有效性。

标准仓单账户的开户流程、标准仓单管理系统的使用和操作等具体规定，由能源中心依据本细则另行制定操作规范。

第一百零三条 标准仓单在标准仓单管理系统中生成后即以电子形式存在，并包括下列事项：

（一）货主名称（全称）；

（二）商品的品种、数量、品质；

（三）储存场所；

（四）仓储费；

（五）仓储物已经办理保险的，其保险金额、期限以及保险人的名称；

（六）制单人和制单日期；

（七）标准仓单应当载明的其他内容。

第一百零四条 标准仓单可以用于实物交割、作为保证金使用、质押、转让、提货以及能源中心规定的其他用途。

第一百零五条 仓库标准仓单生成流程包括入库申报、入库申报审批、商品入库、验收、仓单制作申请审批、仓库签发、最终确认等环节；厂库标准仓单生成流程包括提交签发申请、能源中心审核、厂库签发、最终确认等环节。

仓库标准仓单涉及的入库申报、入库申报审批、商品入库、验收、仓单制作申请审批、仓库签发等环节按照本细则第四章规定执行；厂库标准仓单涉及的提交签发申请、能源中心审核、厂库签发等环节按照本细则第五章规定执行。

第一百零六条 货主应当对指定交割仓库签发的标准仓单进行最终确认。货主在收到标准仓单验收通知后3天内未对标准仓单进行验收确认的，视为已最终确认，标准仓单自动生效。

第一百零七条 能源中心根据不同期货商品的特性规定标准仓单有效期。超过有效期的标准仓单不得用于期货交割。标准仓单有效期按照本细则上市品种期货合约部分的具体规定执行。

第一百零八条 会员直接向能源中心提交标准仓单作为保证金使用的申请。

结算交割委托人将标准仓单授权会员作为保证金使用的业务流程如下：

（一）结算交割委托人应当先将指定的标准仓单授权给会员作为会员的保证金使用。

（二）会员选择其结算交割委托人授权的标准仓单，提交给能源中心。会员提交标准仓单时，应当注明标准仓单作为保证金使用，或者作为与其所示品种和数量相同的期货合约持仓的履约保证。

（三）能源中心审核通过后，标准仓单方可以作为保证金使用。

境外特殊经纪参与者或者境外中介机构的客户将标准仓单交存能源中心作为保证金使用的，应当授权并通过境外特殊经纪参与者、境外中介机构办理。

第一百零九条 结算交割委托人将标准仓单授权给会员作为保证金的，会员在弥补应交保证金后可以向能源中心申请办理提取标准仓单手续。

会员、境外特殊经纪参与者、境外中介机构与客户之间就提取标准仓单产生纠纷的，能源中心可以根据会员、境外特殊经纪参与者、境外中介机构和客户之间达成的具有法律效力的协议将相应的标准仓单转入协议中约定的标准仓单账户，或者依据生效的法律文书作相应的处理。

第一百一十条 会员提取作为保证金使用的标准仓单的，直接向能源中心提交申请。

结算交割委托人提取作为保证金使用的标准仓单的，业务流程如下：

（一）结算交割委托人提出申请。

（二）会员收到申请后，及时向能源中心提交标准仓单提取申请。

（三）能源中心进行审核，审核通过后，将对应标准仓单退还给该会员。

（四）该会员应当及时将对应的标准仓单释放给其结算交割委托人；未及时释放标准仓单的，应当向能源中心报告原因。

境外特殊经纪参与者或者境外中介机构的客户提取作为保证金使用的标准仓单的，应当授权并通过境外特殊经纪参与者、境外中介机构办理。

第一百一十一条 标准仓单作为保证金使用的其他事项按照《上海国际能源交易中心结算细则》的有关规定执行。

第一百一十二条 标准仓单质押是指出质人（即债务人或者第三人）将其所有的标准仓单移交给质权人（债权人）占有，作为债权的担保。债务人不履行到期债务或者发生约定的实现质权情形的，质权人有权依照法律或者协议以标准仓单折价，或者就拍卖、变卖标准仓单所得的价款优先受偿。

第一百一十三条 出质人应当在与质权人另行订立的质押合同中列明用于质押的标准仓单信息，并将质押合同副本提交指定交割仓库留存。

第一百一十四条 标准仓单在标准仓单管理系统内进行质押登记的流程如下：

（一）出质人使用标准仓单出质的，应当通过标准仓单管理系统向指定交割仓库提交质押登记申请。

（二）指定交割仓库依据质押合同副本审核质押登记申请。

（三）质权人通过标准仓单管理系统确认提交质押登记的标准仓单。

（四）指定交割仓库应当对已质押的标准仓单进行登记管理，相应标准仓单不得进行交割、转让、提货等任何操作。

质押保税标准仓单的，应当事先向主管海关办理质押备案手续。

第一百一十五条 标准仓单质押期间，指定交割仓库应当对标准仓单进行登记管理，妥善保管质押商品。

第一百一十六条 解除标准仓单质押登记的流程如下:

（一）质权人解除标准仓单质押，应当通过标准仓单管理系统向指定交割仓库提交解除质押登记的申请。

（二）指定交割仓库审核解除质押登记申请。

（三）出质人通过标准仓单管理系统确认提交解除质押登记的标准仓单。

解除保税标准仓单质押，应当事先向主管海关办理解除质押备案手续。

第一百一十七条 指定交割仓库应当将其已签字盖章的标准仓单质押清单和标准仓单解除质押清单交付出质人和质权人。

第一百一十八条 标准仓单可以在能源中心外进行转让。买方、卖方可以自行结算，也可以通过能源中心结算。通过能源中心结算的，能源中心按照标准收取交割手续费。

第一百一十九条 买方、卖方自行结算的标准仓单转让流程如下：

（一）卖方在标准仓单管理系统输入品种、指定交割仓库、买方交易编码和名称、相应标准仓单等相关信息后提交转让申请。

（二）买方通过标准仓单管理系统确认转让申请。

（三）指定交割仓库审核转让申请。

（四）买方按双方约定交付货款。

（五）卖方收款后释放标准仓单，对应标准仓单转到买方的标准仓单账户。

第一百二十条 会员通过能源中心结算的标准仓单转让流程如下：

（一）卖方在标准仓单管理系统输入品种、指定交割仓库、买方交易编码和名称、转让价、相应标准仓单等相关转让信息后，提交转让申请；
（二）买方通过标准仓单管理系统确认转让申请，并将货款存入保证金专用账户。
（三）指定交割仓库审核转让申请，并通知买方、卖方和能源中心。
（四）能源中心打印标准仓单转让结算单并收付货款。
（五）能源中心释放标准仓单，对应标准仓单转到买方的标准仓单账户。
结算交割委托人应当通过会员办理通过能源中心结算的标准仓单的转让，并参照上款进行。

境外特殊经纪参与者或者境外中介机构的客户转让通过能源中心结算的标准仓单的，应当授权并通过境外特殊经纪参与者、境外中介机构办理。

14：00之前提交的标准仓单转让申请，能源中心在当日完成转让程序；14：00之后提交的标准仓单转让申请，能源中心在下一交易日完成转让程序。

第一百二十一条 货主需要修改标准仓单的储存场所等能源中心允许修订的数据的，应当通过标准仓单管理系统提交标准仓单变更申请。指定交割仓库和能源中心审核后，完成数据的变更。

第一百二十二条 指定交割仓库需移动标准仓单所属商品的储存位置的，应当事先向能源中心提出申请。能源中心应当在10个交易日内批复。指定交割仓库移动位置后应当通知货主，并及时通过标准仓单管理系统修改对应标准仓单的位置数据。

第一百二十三条 对于实行质检期管理的期货商品，标准仓单对应的商品质检期届满后，货主应当重新质检，并向能源中心提交质检变更申请，在能源中心审核新的质检证书后，指定交割仓库通过标准仓单管理系统变更相应的质检证书和质检日期。

第一百二十四条 标准仓单业务参与者之间发生与标准仓单有关的权属纠纷等纠纷的，能源中心可以经当事人的申请或者自行将相应的标准仓单冻结，直至纠纷解决。

第一百二十五条 标准仓单的冻结或者解除冻结的申请人应当持有效法律文书和相关证明材料，经指定交割仓库审核无误后，通过标准仓单管理系统实施对相应标准仓单的冻结或者解除冻结。

指定交割仓库冻结和解冻标准仓单应当通知并报能源中心备案。

标准仓单冻结期间，指定交割仓库应当妥善管理相关商品。标准仓单解除冻结后，指定交割仓库应当根据有效法律文书处置相关商品。

第一百二十六条 标准仓单作废是指货主对指定交割仓库签发的已生效的标准仓单除储存位置、质检日期等能源中心允许调整的数据以外的数据有异议，提交标准仓单作废申请，经指定交割仓库和能源中心审核，注销对应标准仓单的过程。

作废的标准仓单需要生成相对应新的标准仓单的，应当在能源中心重新办理入库申报手续。

第一百二十七条 标准仓单出库是指标准仓单合法持有人通过标准仓单管理系统向指定交割仓库申请提货或者转为现货提单，并由指定交割仓库办理的过程。标准仓单在出库完成后注销。

第一百二十八条 标准仓单合法持有人提货时，应当向指定交割仓库提交标准仓单出库申请。指定交割仓库在审核后，由其发货部门根据标准仓单出库清单和相关单证发货。

第一百二十九条 标准仓单合法持有人在出库申请中应当注明提货方式：

（一）自行到库提货的，指定交割仓库在对标准仓单审核无误后予以发货。货主应当到库监发，货主不到库监发的，视为认可指定交割仓库发货无误。

（二）委托提货的，货主应当提交授权委托书，并在出库申请上注明其委托的提货人、提货密码、联系人和联系电话等信息。指定交割仓库在对标准仓单审核无误后予以发货。货主委托的提货人应当到库监发，不到库监发的，视为货主认可指定交割仓库发货无误。

（三）委托指定交割仓库提货并发货的，货主应当提交授权委托书，并在出库申请上注明发货地址、联系人和联系电话等信息。指定交割仓库在对标准仓单审核无误后予以发货。货主应当认可指定交割仓库发货无误。

第一百三十条 商品出库时，指定交割仓库应当及时填制标准仓单出库确认单，交提货人签字确认，并妥善保管备查。

第九章 商品注册管理

第一百三十一条 能源中心可以对交割商品实行商品注册管理。上市品种期货合约实行商品注册管理的，用于实物交割的商品必须是经能源中心批准注册的商品。能源中心批准的免检注册商品在交割时可以免于质量检验。

第一百三十二条 交割商品申请商品注册应当满足以下基本条件，具体条件由本细则上市品种部分另行规定：

（一）申请商品注册企业应当是国内外相关商品的生产企业，并符合以下要求：

1、产能和产量达到能源中心规定，连续稳定生产至少2年以上；

2、企业具有相当的知名度和信誉度，通过相应质量、环境管理、安全等认证；

3、生产工艺符合国内外相关产业标准。

（二）申请注册的商品应当符合以下要求：

1、质量标准应当符合国家标准及能源中心规定的技术要求；

2、最近3年产品广泛应用于相关领域；

3、企业所申请的注册商品在现货市场占有相当份额，并具有相当的行业知晓度。

（三）取得一家以上能源中心会员或者境外特殊参与者的推荐。

（四）能源中心要求的其他条件。

第一百三十三条 申请商品注册应当提供以下资料：

（一）经有效签署的注册申请报告、承诺书;

（二）公司成立证明文件，包括营业执照、组织机构代码证、税务登记证、商业登记证等;

（三）企业股东及股权结构、组织架构及分支机构情况;

（四）注册商品登记表；

（五）商品质量证明文件;

（六）质量、环境、安全等体系认证证明文件;

（七）企业主要生产设备设施符合要求的证明材料;

（八）经审计的上一年度的企业财务会计报告;

（九）一家以上能源中心会员或者境外特殊参与者的商品注册推荐书，推荐会员或者境外特殊参与者有责任确保申请资料的准确性、完整性，以及申请者的资质资信、生产能力等;

（十）能源中心要求的其他文件。

申请注册商品已取得商标注册的，还应当提供商标注册证。

第一百三十四条 注册程序如下：

（一）预审

能源中心对申请商品注册企业提供的书面资料进行预审。预审合格的，才能进入下一注册环节。

（二）质量监测检查

按照国家及能源中心有关规定，由能源中心指定检验机构及相关人员对国内外商品进行质量监测检查。

（三）批准注册

能源中心根据注册申报资料、商品质量监测检查等情况，决定是否批准商品注册。批准注册的，能源中心将予以公布。

第一百三十五条 注册商品申请者应当承担以下费用：

（一）单一品牌商品注册费为人民币10万元；

（二）单一生产企业商品检查费为人民币5万元。

能源中心可以根据实际情况，调整有关费用标准。商品注册费必须在注册批复前预交。

第一百三十六条 为保证交割商品的质量，能源中心对注册商品实行日常抽检和年度检查。

（一）能源中心随时对存放在各指定交割仓库内的交割商品的质量进行抽检。

（二）能源中心委托指定检验机构对注册商品每年进行一次质量检查。注册商品生产企业应当在每年年底前向能源中心提供企业年度检查报告，包括企业持续经营情况及生产、经营方面的重大变化等。

日常抽检和年度检查的费用由注册商品生产企业承担。能源中心将根据抽检、年检情况，向有关注册商品生产企业发出整改通知。

第一百三十七条 注册商品发生以下情形的，能源中心可以暂停、取消注册资格：

（一）注册商品生产企业分立、合并、更名、变更组织形式的；

（二）商品注册商标转让的；

（三）注册商品生产企业解散 、破产的；

（四）注册商品抽检、年检不合格，整改后注册商品质量仍未达标的；

（五）近一个年度内发生两起以上经能源中心查实的检验结果不合格的投诉的；

（六）生产经营不正常，年产量未达到本细则规定的条件且未向能源中心说明情况的；

（七）注册商品生产企业未按规定向能源中心通报生产、经营方面的重大变动的；

（八）能源中心认定的其他情况。

发生上述（一）或者（二）情形的，应当重新办理注册手续。

第一百三十八条 交割过程中发生交割商品质量纠纷的，注册商品生产企业应配合能源中心妥善处理。注册商品生产企业造成交割商品质量问题的，应当承担相应的赔偿责任。

第十章 原油期货合约的交割

第一百三十九条 原油期货合约采用实物交割，到期原油期货合约应当按照标准交割流程进行交割，未到期原油期货合约可以按照期转现流程进行交割。

第一百四十条 原油期货合约交割实行保税交割，即以原油指定交割仓库保税油罐内处于保税监管状态的原油作为交割标的物进行期货交割的过程。

第一百四十一条 原油期货合约交割采取仓库交割方式，具体流程按照本细则第四章的规定执行。

第一百四十二条 原油期货合约最后交易日前第八个交易日闭市后，不能交付或者接收能源中心规定发票的自然人客户该期货合约的持仓应当为0手。自最后交易日前第七个交易日起，对该自然人客户的交割月份持仓直接由能源中心强行平仓。

第一百四十三条 原油期货合约的交割单位为1000桶，交割数量应当是交割单位的整数倍。

第一百四十四条 交割品质见《上海国际能源交易中心原油期货标准合约》。原油不实行商品注册管理。

第一百四十五条 原油入库的最小量为20万桶。原油出库的最小量为20万桶，不足20万桶的，可以通过现货等方式凑足20万桶以上方可办理出库业务，货主与指定交割仓库另有约定的除外。

第一百四十六条 原油入库应当交纳人民币1.5元/桶的申报押金。

第一百四十七条 货主在办理入库申报前，应当妥善协调码头、港口、管道运输、海关、商品检验等相关机构，并应当在原油拟入指定交割仓库的30天前向能源中心办理入库申报；原油入库有效期为原油拟入库日期前后各5天。

第一百四十八条 办理入库的原油应当是原油原产地装运港起运或者能源中心认可的指定交割仓库保税油罐内储存的原油，且在装运和储存期间不得与其他油品调和。指定交割仓库同一个保税油罐内不得混装不同交割油种的原油。

第一百四十九条 原油入库生成保税标准仓单时应当提供指定检验机构出具的检验报告、提单和原产地证明、海关入库核准单证等相关文件，供能源中心核实验证。

原油保税标准仓单不设有效期。

第一百五十条 指定交割仓库的入出库作业不得影响交接原油的品质和数量。在原油入出库作业开始以前及作业完成后，指定交割仓库应当保证输油管线内的油液充满或者扫空，并保证管线内油品品质不影响装卸油品品质及保证管线内油品的充分流动性。

第一百五十一条 原油入出库时的数量以指定检验机构签发的指定交割仓库岸罐计量的原油净体积桶数为准。数量检验以罐容标尺计量为准，但出库量在能源中心规定标准以下的，检验机构可以选择以流量计或其他计量工具进行计量。

原油净体积桶数的计算公式为：

原油净体积桶数=原油毛体积桶数× (1－水杂百分数)

原油毛体积桶数=原油总计量体积－明水体积

第一百五十二条 原油的入出库损耗补偿按照下述公式由入出库货主补偿指定交割仓库，并在指定检验机构出具检验报告后3个工作日内由货主与指定交割仓库进行结算：

入库损耗补偿=原油保税标准仓单签发数量×0.6‰×(原油入库完成前一交易日能源中心最近月份原油期货合约的结算价+交割升贴水)

出库损耗补偿=原油保税标准仓单注销数量×0.6‰×(原油出库完成前一交易日能源中心最近月份原油期货合约的结算价+交割升贴水)

第一百五十三条 原油入库时指定检验机构出具的数量证书与保税标准仓单生成数量的差为溢短。入库时原油溢短数量不超过入库申报数量的±2%。在允许的溢短范围内，原油入库时按四舍五入法生成整千桶数的保税标准仓单。在指定检验机构出具检验报告后的3个工作日内，由货主按照下述公式直接与指定交割仓库进行结算：

入库溢短货款=允许范围内的原油溢短数量×（原油入库完成前一交易日能源中心最近月份原油期货合约的结算价+交割升贴水）

出库时指定检验机构出具的数量证书与保税标准仓单注销数量的差为溢短。出库时原油溢短数量不超过±2%。在指定检验机构出具检验报告后的3个工作日内，由货主按照下述公式直接与指定交割仓库进行结算：

出库溢短货款=允许范围内的原油溢短数量×（原油出库完成前一交易日能源中心最近月份原油期货合约的结算价+交割升贴水）

第一百五十四条 原油期货的交割结算价是原油期货交割结算的基准价，为该期货合约最后5个有成交交易日的结算价的算术平均值。交割结算时，买方、卖方以原油期货合约的交割结算价为基础，再加上交割升贴水。

（一）原油保税标准仓单持有人报关完税价格的计算审定基础是保税交割结算价。到期合约保税交割结算价的计算公式为：

保税交割结算价=交割结算价

（二）期转现中使用保税标准仓单的，期转现保税交割结算价的计算公式为：

期转现保税交割结算价=期转现申请日前一交易日交割月份合约的结算价

（三）期转现中使用非标准仓单的，交割结算价为双方协议价格。

第一百五十五条 原油保税标准仓单交割货款的计算公式为：

到期合约交割货款=（保税交割结算价＋交割升贴水）×交割数量

期转现交割货款=（期转现保税交割结算价＋交割升贴水）×交割数量

原油期货合约的发票要求和管理由能源中心另行公布，发票流转流程按照本细则第二章的规定执行。

第一百五十六条 进行实物交割的买方、卖方应当分别向能源中心支付人民币0.05元/桶的交割手续费。

第一百五十七条 交收地点是由能源中心另行公布的指定交割仓库。
指定交割仓库收费项目及标准由能源中心另行公布。

第一百五十八条 指定检验机构由能源中心另行公布。

第一百五十九条 原油期货交割中下列用语的含义：

（一）本细则所称原油是指从地下天然油藏直接开采得到的液态碳氢化合物或者其天然形式的混合。原油装卸时挥发出的轻烃、硫化氢、硫醇等气体对大气环境的影响应当符合装卸所在地的监管要求。

（二）明水即游离水，是指油品中独立分层并主要存在于油品下面的水。

（三）水杂是指油品中的悬浮沉淀物、溶解水和悬浮水。根据ASTM D4006、ASTM D473分别确定水分和沉淀物，两者相加得到水杂含量，一般以百分比表示。

第十一章 附则

第一百六十条 本细则所称买方、卖方包括会员、境外特殊参与者、境外中介机构或者客户。本细则所称货主是指合法拥有货品所有权权利的人。

第一百六十一条 除能源中心认可的情形外，本细则规定的相关主体向能源中心提交的书面材料均应当有中文版本，并以中文版本为准。

第一百六十二条 本细则未尽事宜，参照上海国际能源交易中心章程、交易规则及其他实施细则有关规定执行。

第一百六十三条 本细则的解释权属于能源中心。

第一百六十四条 本细则自2017年5月11日起实施。