Detailed Delivery Rules of Dalian Commodity Exchange

Chapter I General Provisions

Article 1 These Rules are formulated subject to the Trading Rules of Dalian Commodity Exchange for the purposes of guaranteeing the normal carrying-out of the futures delivery business of Dalian Commodity Exchange (the “Exchange”) and standardizing the physical delivery.

Article 2 The commodity futures contracts listed in the Exchange shall take the form of physical delivery. The physical delivery shall refer to the course in which pursuant to the futures contract and subject to the Exchange’s rules, the parties to the trading close the non-liquidated contract(s) through the transfer of the title to the commodities described in the futures contract(s).

Article 3 The physical delivery of the clients must be handled by the Member and carried out in the name of the Member at the Exchange.With respect to the client which engages the overseas broker to carry out the futures trading, its delivery shall be handled through the engagement of its overseas broker which shall then engage the Member to handle such delivery in the name of the Member at the Exchange.

Article 4 Delivery shall be prohibited with respect to any individual client’s positions or any non-integral multiple of delivery units of the positions of the coke, coking coal, No.2 soybean or iron ore.

As of the first trading day of the delivery month, the Exchange shall carry out the forced liquidation against the positions of the individual client’s delivery month contracts.

With respect to the contracts of the products other than coke, coking coal, No.2 soybean or iron ore, in case the positions of the individual client’s delivery month contracts fail to liquidate or be liquidated after the closing of the market on the last trading day, the Member shall firstly perform such contracts on behalf of such individual, or in case the Member fails to perform such contracts, the applicable provisions of Chapter 23 hereof shall apply.

With respect to the contracts of coke, coking coal, No.2 soybean or iron ore, in case the positions of the individual client’s delivery month contracts or the non-integral multiple of the delivery units fail to liquidate or be liquidated after the closing of the market on the last trading day, the Exchange shall choose the counterparty’s positions and carry out the hedging liquidation at the liquidation price of the delivery settlement price of such contracts under the principle of “the prohibited delivery positions come first, and the integral multiple of delivery units of the positions which include the positions of the shortest time come first”, and a fine of twenty (20) percent of the contract value calculated at delivery settlement price shall be imposed, and paid to the counterparty, against the portions of the positions which are held by the client and are not permitted to be delivered. In case the hedging parties are the clients holding the positions not permitted to be delivered, a fine of twenty (20) percent of the contract value calculated at delivery settlement price will be respectively imposed by the Exchange against such parties and will not be paid to each other.

Article 5 The business of delivery of the commodity futures contracts listed in the Exchange shall be carried out subject to these Rules. The Exchange, the Members, the overseas brokers， the clients, the designated delivery warehouses, the designated FOT delivery sites, the designated quality inspection agencies and other delivery business participants shall comply with these Rules.

Chapter II Exchange of Futures for Physicals

Article 6 The exchange of futures for physicals (“EFP”) shall refer to that the trading parties which hold the contracts of the same delivery month enter into a physicals sale and purchase agreement through negotiations, and close their respective futures positions at the price described therein and exchange the payments and physicals of the corresponding quantities.

Article 7 The EFP shall be divided into the warehouse receipt on par EFP and the non-standard warehouse receipt EFP. The warehouse receipt on par EFP shall be divided into the duty-paid warehouse receipt on par EFP and the bonded warehouse receipt on par EFP (the "Bonded EFP"). The provisions of the Detailed Rules for Implementation of Bonded Delivery of Dalian Commodity Exchange with respect to the specific processes of the Bonded EFP shall be applicable.

Article 8 Only institutional clients may apply for an EFP application. The EFP term for any product other than egg or No. 2 soybean shall be as of the contract listing date through the last but two trading day (inclusive) of the month preceding the delivery month; the term of non-standard warehouse receipts EFP for the egg product shall be as of the contract listing day through the last but three trading day (inclusive) as of the last trading day; and the term of warehouse receipts on par EFP and non-standard warehouse receipts EFP for the No. 2 soybean product shall be as of the contract listing day through the sixth trading day (inclusive) of the delivery month.

Article 9 The following materials shall be submitted to the Exchange after a physicals sale and purchase agreement has been entered into by and between the parties to the trading:

(i) An EFP application;

(ii) The physicals sale and purchase agreement;

(iii) The applicable certification of the payments; and

(iv) The applicable certification of the warehouse receipts on par, the entrance receipts, the inventory receipts and other goods ownership certifications.

With regard to the product of No. 2 soybean, if the EFP is carried out with warehouse receipt on par and the corresponding cargo is imported soybean, the inspection and quarantine certificate or inspection and quarantine treatment notice (hereinafter collectively referred to as “inspection and quarantine certification material”) of the inbound goods shall also be submitted.

Article 10 In case of any EFP with respect to any warehouse receipt on par, the application shall be filed by the Member to the Exchange prior to or at 11:30 a.m. of the trading day, and the Exchange shall examine for approval of such application on the very application filing day.

Prior to or at 11:30 a.m. of the approval day, the selling Member shall submit the warehouse receipts of the appropriate quantities to the Exchange, and the buying Member shall transfer the full payments calculated at the agreed price to the Exchange’s account.

Article 11 An EFP with respect to any non-standard warehouse receipt shall be examined for approval by the Exchange within three (3) trading days after the Exchange receives the application.

Article 12 The Exchange shall be responsible for handling the handover of the warehouse receipts on par and the payment of the payments with respect to the warehouse receipts on par EFP. The specific processes therefor are provided in the Detailed Settlement Rules of Dalian Commodity Exchange and the Detailed Rules for Implementation of Bonded Delivery of Dalian Commodity Exchange. The commissions therefor shall be charged by reference to the standards for the delivery commissions of the products other than the No. 2 soybean, the commission of which shall be separately announced by the Exchange.

Article 13 The handover of the goods and the receipt and payment of the payments with respect to the non-standard warehouse receipts EFP, if handled independently by the parties to the trading, shall be negotiated and determined by themselves; if the Exchange is entrusted with the receipt and payment of the payments, the specific processes therefor are provided in the Detailed Settlement Rules of Dalian Commodity Exchange. The commissions therefor shall be charged by reference to the standards for the trading commissions of the products other than the No. 2 soybean, the commission of which shall be separately announced by the Exchange. No guarantee liability shall be borne by the Exchange for the handover of the goods and the payment of the payments with respect to the non-standard warehouse receipts EFP.

An EFP with respect to any non-standard warehouse receipt will obligate the parties to the trading to submit, after the completion of the physicals trading, the certification of the handover of the goods. The parties to the trading shall submit the certification of payment of the payments to the Exchange if the receipt and payment of the payments are handled by themselves. The Exchange shall have the right to supervise and check the conducts of the parties to the trading with respect to the physicals.

Article 14 Upon settlement on the EFP approval date, the Exchange shall settle the EFP positions of the parties to the trading at the agreed price, and any profit or loss shall be included in the then-current day liquidation profit or loss.

Article 15 The EFP positions shall be deducted from the then-current day positions, and the trading result shall not be included in the then-current day settlement price and trading volume. After ending of each trading day, the Exchange shall publish the EFP information of the then-current day.

Article 16Any non-bona fide EFP shall be handled pursuant to the applicable provisions of the Measures for Handling of Violations of Dalian Commodity Exchange.

Chapter III Bill of Lading Delivery

Article 17 The bill of lading delivery shall refer to during the prescribed period of the month immediately preceding the delivery month, the physical delivery of which the handover is carried out upon the initiative application by the seller and the buyer, under the matching organized by and the supervision by the Exchange and subject to the prescribed procedures.

The commodities subject to the bill of lading delivery may be the duty-paid commodities or the bonded commodities. All the commodities subject to the bill of lading delivery under a same bill of lading shall be either the duty-paid commodities or the bonded commodities.

The iron ore contract may take the bill of lading delivery. The delivery site therefor shall be selected from the delivery sites designated by the Exchange which will be separately published by the Exchange.

Article 18 The bill of lading shall refer to the physicals pickup certification issued by the seller to the buyer after the inventory port confirms the transfer of the title to the commodities on the basis that the buyer completes the inspection of, and confirmation of the conformity of, such commodities.

The contents of the bill of lading shall include the buyer’s name, the seller’s name, the name of the inventory port, the name of the goods, the quantities, the quality, the warehousing site, the status of the goods (duty-paid commodities or bonded commodities), the issuing date and otherwise. The bill of lading must be confirmed through sealing by the buyer, the seller and the inventory port.

Article 19 The bill of lading delivery shall be handled by the Member on behalf of the overseas brokers and clients. The non-futures company Member may handle it by itself. With respect to the client which engages the overseas broker to carry out the futures trading, its bill of lading delivery shall be handled through the engagement of its overseas broker which shall then engage the Member to handle such delivery.

The total quantities of the bill of lading delivery applications filed by the client shall not exceed its positions of the same direction.

The quantities of each bill of lading delivery application of the iron ore contracts shall be ten thousand (10,000) tons or the integral multiple thereof.

Article 20 The bill of lading delivery application and matching shall be subject to the following procedures:

(i) During the period as of the tenth trading day of the month immediately preceding the delivery month through the fourteenth trading day of the month immediately preceding the delivery month, the buying client may file, through its Member and prior to the closing of the market on each trading day, more than one intent application containing the quantities and the handover site(s); only one handover site is permitted for each application. The Exchange shall summarize the buyer’s application quantities and sites after the closing of the market on the then-current day, and publish them through the electronic warehouse receipt system, the Exchange’s website or otherwise.

(ii) Prior to or at 14:00 of the second trading day after the buyer files the intent application, the selling client may file, through its Member and on the basis of the buyer’s intent published on the preceding trading day, more than one intent application containing the quantities and the handover site(s). Such application may contain the intent buyers for reference upon matching, and each application may contain two (2) intent sites and two (2) intent buyers to the maximum.

(iii) The matching day shall be the day when the seller files the application. After the closing of the market on the matching day, the Exchange shall organize the matching under the principle of the maximum delivery quantity by reference to the intent buyers and intent sites proposed by the seller. No determined matching result may be modified by the buyer or the seller.

Article 21 After the closing of the market on the matching day, the delivery matching positions shall be liquidated at the settlement price of the matching day. The delivery settlement price shall be the then-current day settlement price of the matching day. The trading margins of the buying positions shall be transformed to be the delivery advances, and the trading margins of the selling positions shall be transformed to be the delivery margins.

Upon filing an application, the client shall concurrently inform the Exchange of the contact persons and their contact information. After the closing of the market on the matching day, the Exchange shall send the matching results, the contacts and the contact information respectively to the buying Member and the selling Member through the electronic warehouse receipt system. The matching results will be at the same time published through the website of the Exchange and in other ways. Sending thereof shall be deemed to be completed upon sending by the system. After receipt of the matching information, the buyer and the seller shall proactively communicate with each other and negotiate the handover of the goods.

Article 22 The notification date shall be the third calendar day preceding the vessel arrival at the port or the inspection of the goods already at the port or in case the third calendar day does not fall on a trading day, the immediately preceding trading day.

The selling Member shall send to Exchange through the electronic warehouse receipt system the delivery site, the estimated date of the goods arrival at the port, the quantity, the name of the vessel, the bill of lading number, the status of the goods (duty-paid commodities or bonded commodities) and otherwise. After the closing of the market on the notification date, it will be sent by the Exchange to the buying Member through the electronic warehouse receipt system. The seller shall timely notify the buyer in case of any change to the date of the goods arrival at the port or any other information.

Article 23 Prior to the closing of market on the third calendar day after the notification date (in case the third calendar day does not fall on a trading day, it shall be postponed to the immediately following trading day), the buyer’s delivery advances and the seller’s delivery margins shall be additionally paid to reach twenty (20) percent of the value of the matched contracts. After the closing of the market, the transfer thereof shall be made by the Exchange from the appropriate Member’s settlement reserves.

Article 24 The last notification date shall be the last but three trading day of the month immediately preceding the delivery month. In case the seller still fails to send the notification information, prior to the closing of the market on the third calendar day after the final notification date (in case the third calendar day does not fall on a trading day, it shall be postponed to the immediately following trading day), the buyer’s delivery advances and the seller’s delivery margins shall be additionally paid to reach twenty (20) percent of the value of the matched contracts. After the closing of the market, the transfer thereof shall be made by the Exchange from the appropriate Member’s settlement reserves.

Article 25 The confirmation of the handover of the goods may be subject to the following procedures:

(i) The seller notifies the buyer ten (10) hours prior to the unloading (or inspection of the goods), and the buyer and the seller arrive at the site and supervise the receipt thereof.

(ii) The quality inspection agency engaged by the buyer shall carry out sampling during the unloading or the stacking. The inspection items shall follow the quality standards for the iron ore futures delivery described herein. The samplings shall be kept for two (2) months. The inspection costs shall be borne by the buyer, and the other costs shall be borne by the seller.

(iii) The weighting of the goods shall be subject to the wagon balance or other weight measurement method recognized by both parties. Firstly, the weight shall be discounted as per the contract provisions on the basis of the moistures tested upon lading to have the full weight ascertained; and the conclusive basis shall be the moisture test result issued by the quality inspection agency upon the handover of the goods; and more or less of three (3) percent shall be permitted. Rounding off shall be made to have an integer upon discounting.

Example: If the weight of the dry basis to be handed over is 10,000 tons, the moisture test result is 6% upon lading and 8% upon unlading, then the full weight upon unlading shall be 10,000÷(1-6%)=10638 tons; and if the actual weight upon unlading is a tons, then the finally actual handed over weight shall be a×(1-8%) tons, and the more or less shall be [a×(1-8%)-10,000] tons.

(iv) On the very day when the unloading is completed, the seller shall fill in the handover details through the electronic warehouse receipt system on the basis of the weight note issued by the port, which shall be confirmed by the buyer on the then-current day, and the Exchange shall otherwise deem that the buyer has no objection.

In case the subject matters to be handed over are duty-paid commodities, the buyer, the seller and the port shall determine the handover of the goods after the buyer completes the quality inspection and the seller completes the customs clearance; or in case the subject matters to be handed over are bonded commodities, the buyer, the seller and the port shall determine the handover of the goods after the buyer completes the quality inspection. After determination thereof, the selling Member shall fill in the Handover Confirmation Notification through the electronic warehouse receipt system no later than 14:00 of the immediately following trading day, the buying Member shall complete the confirmation thereof prior to or at 14:30 on the day when the seller fills in the Handover Confirmation Notification, and the Exchange shall otherwise deem that the buyer has no objection. At the same time, the buyer shall submit the effective bill of lading to the Exchange through facsimile or any other written form, with the original to be kept by the client for future reference.

In case the subject matters to be handed over are bonded commodities, and if the buyer needs to handle the import customs clearance, the buyer shall, within ten (10) working days (inclusive of the tenth working day) after the issuance date of the Bonded Delivery Settlement Statement (for customs clearance use only), hold the Bonded Delivery Settlement Statement (for customs clearance use only) to handle the import customs clearance formalities subject to the applicable provisions of the customs.

Article 26 In case the buyer and the seller fail to carry out the handover confirmation pursuant to the above procedures, they shall fill in the Handover Confirmation Notification through the electronic warehouse receipt system prior to or at 14:00 on the then-current day of confirmation, and at the same time, shall execute and submit the Quality and Quantity Confirmation Letter for the Handed Over Goods (the Quality and Quantity Confirmation Letter for the Handed Over Goods for an iron ore contract is detailed in Annex 20 hereto) to the Exchange through facsimile or any other written form; the Exchange will not accept any application of any dispute arising out of or in connection with the handed over quality and/or quantity; and the original shall be submitted to the Exchange within three (3) working days.

Article 27 After the closing of the market on the then-current day of receipt of the Handover Confirmation Notification, the Exchange shall send to the buying Member an additional payment notice (inclusive of the more or less amounts and the discount and/or premium) through the Member service system. The payments of the duty-paid commodities shall be calculated on the basis of the delivery settlement price. The payments of the bonded commodities shall be calculated on the basis of the delivery settlement price by deduction of the import VAT, import duty, consumption tax and other tax; and the discount and/or premium of the bonded commodities shall be the bonded discount and/or premium which is calculated on the basis of the discount and/or premium by deduction of the import VAT, import duty, consumption tax and other tax.

Bonded delivery settlement price = [(the delivery settlement price − the relevant costs) / (1 + the import VAT rate) − the consumption tax] / (1 + the import duty rate)

The bonded premiums/premiums = the premiums/discounts/(1+the import VAT rate) /(1+the import duty rate)

The "relevant costs" in Paragraph 2 of this Article shall include the costs and expenses related to the customs clearance, quarantine inspection and agency services of the import of the commodities and shall be separately published by the Exchange; the formula shall be applicable to the futures products against which the consumption tax is collected on the basis of their quantity and the customs duty is collected on the basis of their prices, and the calculation formula of the bonded delivery settlement price of the other products shall be separately determined by the Exchange.

Article 28 The handover day shall be the day immediately following the date when the Exchange receives the Handover Confirmation Notification.

Prior to the closing of the market on the handover day, the buying Member shall transfer to the Exchange’s special settlement account the difference between the payments of the delivery buying positions (inclusive of the more or less amounts and the discount and/or premium) and the delivery advances. In case the subject matters to be handed over are bonded commodities, the selling Member shall deliver to the Exchange the VAT common invoice. After the closing of the market, in case the subject matters to be handed over are duty paid commodities, the Exchange shall release the seller’s delivery margin, and pay eighty (80) percent of the payments to the seller, and the remaining payments shall be fully settled after the seller submits the VAT special invoice. In case the subject matters to be handed over are bonded commodities, the Exchange shall release the seller’s delivery margin, and pay the bonded payments to the seller.

In case the subject matters to be handed over are duty paid commodities, the invoices and other documents, vouchers and/or receipts acceptable by the Exchange shall be issued by the selling clients of delivery to the corresponding buying clients, and shall be forwarded and obtained by, and confirmed with assistance from, the Members of the parties.

In case the subject matters to be handed over are bonded commodities, the domestic selling client shall issue to the selling Member the VAT common invoice, and the overseas selling client or the overseas broker shall issue to the selling Member the corresponding certificate of receipt. The selling Member shall issue to the Exchange the VAT common invoice. The Exchange shall issue to the buying Member the VAT common invoice. The buying Member shall issue to the buying client and the overseas broker the VAT common invoice.

Article 29 The buyer shall submit, within seven (7) working days as of the date immediately following the completed sampling but prior to the trading date immediately prior to the last trading day, the quality inspection report respectively to the Exchange and the seller; the buying Member shall fill in through the electronic warehouse receipt system the quality inspection information of the commodities to be handed over, and the seller shall confirm the inspection result prior to the closing of the market of the trading day immediately following the day when the buyer fills in the quality inspection information.

The seller which has any objection to the inspection result issued by the buyer shall file an application for re-inspection to the Exchange prior to the closing of the market of the trading day immediately following the day when the buyer submits the inspection report. The Exchange shall choose a re-inspection agency from the designated quality inspection agencies, and the re-inspection result with respect to the sealed samplings upon unlading shall be the basis for settlement of the dispute. It shall be deemed that there is no objection thereto in case of no application within the said period.

In case of any dispute proposed by the seller, the re-inspection costs shall be pre-paid by the seller; the costs and expenses arising out thereof or in connection therewith (including the inspection costs, the travel expenses and otherwise) shall be borne by the seller if the difference between the re-inspection result and the former inspection result falls within the reasonable deviations described in the applicable standards, and shall otherwise be borne by the buyer.

Article 30 In case the subject matters to be handed over are bonded commodities, the Exchange shall issue to seller the Bonded Delivery Settlement Statement (for tax use only and for accounting use only) and issue to the buyer the Bonded Delivery Settlement Statement (for accounting use only), as the documents for the clients to make tax declaration; or in case there is the need for customs clearance for import, the Exchange shall issue to the buyer the Bonded Delivery Settlement Statement (for customs clearance use only), as the document for the buyer to handle the customs clearance for import. In addition to the price information, the Bonded Delivery Settlement Statement shall contain the name of the warehouse, the actual quantity, the delivery time, the delivery method (in the column of which the "bill of lading delivery" shall be noted), the bonded premiums/discounts and other information.

Article 31 In case no Handover Confirmation Notification is received by the Exchange prior to the closing of the market of the last trading day, handling shall be carried out by the Exchange after the closing of the market subject to the following provisions on the basis of the different circumstances:

(i) In case the handover confirmation fails to be completed between the parties as scheduled due to any reason attributable to the buyer, a punitive penalty shall be imposed by the Exchange against the buyer of twenty (20) percent of the contract value calculated at the buyer’s delivery settlement price, which shall be paid to the seller; and the delivery margins shall be refunded to the seller; and the delivery shall terminate.

(ii) In case the handover confirmation fails to be completed between the parties as scheduled due to any reason attributable to the weather, overstock at the port or any other reason, it shall be notified by the seller to the Exchange on the very day when the postponement occurs, and the Exchange shall confirm the final handover time on the basis of the actual situation.

(iii) In case the handover confirmation fails to be completed between the parties as scheduled due to any reason other than the weather conditions, a punitive penalty shall be imposed by the Exchange against the seller of twenty (20) percent of the contract value calculated at the seller’s delivery settlement price, which shall be paid to the buyer; and the delivery advances shall be refunded to the buyer; and the delivery shall terminate.

(iv) In case the handover confirmation fails to be completed between the parties as scheduled due to any quality inspection dispute, and if the re-inspection result satisfies the Delivery Quality Standards of Dalian Commodity Exchange, the delivery shall continue; and if it fails to satisfy so, a punitive penalty shall be imposed against the seller of twenty (20) percent of the contract value calculated at the seller’s delivery settlement price, which shall be paid to the buyer; and the delivery advances shall be refunded to the buyer; and the delivery shall terminate.

Article 32 The bill of lading delivery default shall refer to during the prescribed period, the buyer’s failure to fully pay the payments or the seller’s failure to fully deliver at the prescribed site the commodities which satisfy the futures delivery quality standards.

In case the buyer commits a delivery default, a punitive penalty shall be imposed by the Exchange against the buyer of twenty (20) percent of the contract value of the default portions calculated at the buyer’s delivery settlement price, which shall be paid to the seller; and the seller’s delivery margins shall be released; and the delivery shall terminate.

The calculation formula for the buyer’s delivery default contract quantity is below:

In case the subject matters to be handed over are duty-paid commodities, the buyer’s delivery default contract quantity (Lot) = [Payments due and payable (CNY) – Payments paid (CNY)] ÷ [Delivery settlement price (CNY/Ton) × (1-20%) + Discount or Premium (CNY/Ton)] ÷ Trading Unit (Ton/Lot).

In case the subject matters to be handed over are bonded commodities, the buyer’s delivery default contract quantity (Lot) = [Payments due and payable (CNY) – Payments paid (CNY)] ÷ [Bonded Delivery settlement price (CNY/Ton) × (1-20%) + Bonded premiums/discounts(CNY/Ton)] ÷ Trading Unit (Ton/Lot).

In case the seller commits a delivery default, a punitive penalty shall be imposed by the Exchange against the seller of twenty (20) percent of the contract value of the default portions calculated at the seller’s delivery settlement price, which shall be paid to the buyer; and the buyer’s payments shall be released; and the delivery shall terminate.

Contract quantity for the portions insufficiently delivered by the seller (Lot) = [Weight of the commodities which should have been delivered (Tons) – Weight delivered (Tons)] ÷ Trading Unit (Ton/Lot).

In case both the buyer and the seller commit the default, a fine shall be imposed by the Exchange respectively against the buyer and the seller at five (5) percent of the contract value of the default portions calculated at the delivery settlement price.

Chapter IV Rolling Delivery

Article 33 All of No. 1 soybeans, No. 2 soybeans, soybean meal, soybean oil, corn and corn starch contracts shall take the rolling delivery.

Article 34 The rolling delivery shall refer to with respect to a contract during the first trading day and the ninth trading day of the delivery month, the method of delivery that the delivery is completed within the prescribed period by the parties as organized by the Exchange on the basis of the initiative proposal thereof by the selling client which holds the warehouse receipts on par (except those that have been frozen, same below) and the unilateral selling positions of the delivery month.

The delivery settlement price of the rolling delivery shall be the then-current day settlement price of the matching day of the rolling delivery of such futures contract.

Article 35 The rolling delivery shall be handled by the Member on behalf of the client which files the application for delivery.

Article 36 The first day of the rolling delivery process shall be the matching day..

(i) The seller declares the delivery. During the delivery month, the client which holds both the warehouse receipts on par (except for the warehouse receipts with respect to which the offset of the margins has been handled, the same below) and the one-way selling positions of the delivery month may file, through the Member, an application for delivery, and the Member may declare the delivery to the Exchange as of the first trading day of the delivery month but prior to the closing of the market of the trading day immediately preceding the last trading day thereof. The positions and warehouse receipts corresponding to the proposed delivery application will be frozen, and the trading margins corresponding to its selling positions will not be re-collected. With regard to the product of No. 2 soybean, delivery declaration shall only be carried out with factory warehouse receipt on par.

(ii) The buyer declares the intent. The buyer which holds the one-way buying positions of the delivery month shall declare the delivery intent to the Exchange as of the first trading day of the delivery month but prior to the closing of the market of the trading day immediately preceding the last trading day thereof.

Article 37 After the closing of the market on the matching day, the Exchange shall determine, through the system and under the principle of “priority in declaration intent and in positions containing the earliest position-opening time”, the buyer’s positions which participate in the matching.

With respect to the chosen buyer and the chosen seller, the Exchange shall summarize, on the basis of taking the warehouse as the unit, the quantities of the warehouse receipts declared by the seller for delivery, carry out the matching between the buyer and the warehouses under the principle of “the minimum matching quantity” and determine the warehouses corresponding to the buyer’s delivery and the quantities to be delivered in such warehouses; and then, carry out matching under the principle of “the minimum matching quantity” between the buyer with the matched warehouses and the seller which applies for delivery and holds the warehouse receipts of such warehouses, and determine the buyer and the seller corresponding to the delivery. No determined matching result may be modified by the buyer or the seller.

Article 38 After the closing of the market on the matching day, the buying Member’s trading margins for the matched buying positions shall be transformed to be the delivery advances.

Article 39 After the closing of the market on the matching day, the matched positions shall be deducted from the position quantities of the delivery month contracts without any limitation with respect to the position limit. The Delivery Notification, the matching result and other rolling delivery information shall be sent together with the settlement statement of the matching day to the buying Member and the selling Member through the Member service system; and sending thereof shall be deemed to be completed upon sending by the Member service system. The matching result and other information shall be published to the public through the relevant public media and/or information providers.

Article 40 After the determination of the matching result, the buyer shall timely provide to the seller the items related to issuance of the VAT special invoice, and the seller shall deliver to the buyer the VAT special invoice within seven (7) trading days after the matching day.

The delivery VAT special invoice shall be issued by the selling client of delivery to the corresponding buying client. The VAT special invoice issued by the client shall be forwarded and obtained by, and confirmed with assistance from, the Members of the parties.

Any Member’s delay or failure in submission of the VAT special invoice shall be handled subject to the applicable provisions of the Detailed Settlement Rules of Dalian Commodity Exchange.

Article 41 The handover day shall be the second trading day following the matching day (exclusive). Prior to the closing of the market of the handover day, the buying Member must additionally pay the remaining payments corresponding to its matched delivery month contract positions and handle the delivery formalities.

Article 42 After the closing of the market of the handover day, the Exchange shall allocate the seller’s delivery warehouse receipts to the appropriate matched buyer.

Article 43 After the closing of the market of the handover day, the Exchange shall issue to the buying Member the warehouse receipt on par submitted by the selling Member, and pay eighty (80) percent of the payments to the selling Member, and the remaining payments shall be fully settled after the selling Member submits the VAT special invoice.

Article 44 The rolling delivery default shall refer to the buyer’s failure to fully pay the payments within the prescribed period. Any delivery default shall be handled subject to the applicable provisions of Chapter XXIII hereof; and the default contract value shall be calculated at the settlement price of the matching day, and the delivery default shall be handled after the handover day of the rolling delivery.

Chapter V One-off Delivery

Article 45 The futures contracts of any and all commodities listed on the Exchange shall be subject to the one-off delivery.

Article 46 The one-off delivery shall refer to the delivery method that after the last trading day of the contract, the Exchange organizes all non-liquidated contract holders to carry out delivery.

The one-off delivery shall be completed respectively on three trading days of the warehouse receipt on par submission day, the matching day and the handover day (the last delivery day). After the last trading day of the contract, all non-liquidated contract holders must perform the contracts through delivery; and the portions of positions corresponding to the buying and selling positions under the same client number shall be deemed to be automatically liquidated, no delivery shall be handled therefor and the liquidation price shall be calculated as per the delivery settlement price of the one-off delivery.

With respect to any product other than the egg, the delivery settlement price of one-off delivery shall be the weighted average price of all transaction prices of the futures contract during the period as of the first trading day of the delivery month through the last trading day thereof. With respect to the product of the egg, the delivery settlement price of one-off delivery shall be the weighted average price of all transaction prices of the futures contract in the last ten (10) trading days of the delivery month; in case the delivery month has less than ten (10) trading days, the delivery settlement price shall be the weighted average price of all transaction prices of the futures contract during the period as of the first trading day of the delivery month through the last trading day thereof.

Article 47 After the closing of the market of the last trading day, the Exchange shall transform the trading margins of the buying positions of the delivery month to be the delivery advances.

Article 48 The first day of the one-off delivery process shall be the warehouse receipt on par submission day.

Prior to the closing of the market of the last delivery day, the selling Member must submit to the Exchange all the warehouse receipts on par corresponding to its delivery month contract positions; and after the closing of the market on the first trading day following the last trading day, the Exchange shall publish the information with respect to the delivery products of any and all delivery warehouses and the quantities of the warehouse receipts on par.

With respect to the product of No. 2 soybean, in case warehouse delivery is adopted and the corresponding cargo is imported soybean, the selling Member shall also submit the inspection and quarantine certification material corresponding to the delivered commodities before 14:00 of the submission day of the warehouse receipt on par. If failing to submit it timely, the selling Member may submit it after 14:00 of the submission day of the warehouse receipt on par and before 14:00 of the third trading day following the last delivery day, but shall compensate the buying Member by paying the late fee of CNY two (2) per ton per day from the submission day of the warehouse receipt on par (inclusive) through the submission day of the corresponding inspection and quarantine certification material (inclusive).

Article 49 The second day of the one-off delivery process shall be the matching day.

Before the closing of the market on the second trading day following the last trading day, the buyer may, on the basis of the information published by the Exchange, propose the delivery intent declaration. The buyer may declare two delivery intents of the first intent and the second intent. After the closing of the market, the Exchange shall allocate the bonded warehouse receipts on par under the principle of “priority in overseas buying client” and “priority in intent”. The intent priority orders are as below: (i) with respect to any the buyer, its first intent shall be firstly considered, and in case the first intent is not satisfied or not fully satisfied, the second intent shall then be considered; and (ii) with respect to any delivery warehouse, it shall firstly be considered as the buyer of the first intent, and in case there are remaining warehouse receipts, the warehouse shall be considered as the buyer of the second intent.

After the closing of the market on the matching day, the Exchange shall carry out the delivery matching as per the following principles and steps:

First step: Collecting the warehouse receipts on par. The Exchange shall collect Seller's warehouse receipts on par by taking warehouse as the unit.

Second step: Matching the overseas buyer and the bonded warehouse receipt on par. With respect to each bonded delivery warehouse, in case the aggregate position quantity of the overseas buyer which proposes the delivery intent is less than the quantity of its bonded warehouse receipts on par, all intents of the overseas buyer shall be satisfied; or in case the aggregate position quantity of the overseas buyer which proposes the delivery intent is more than the quantity of its bonded warehouse receipts on par, the overseas buyers which will participate in the delivery matching shall be determined under the principle of "priority in the most length of the average position period". After that, the Exchange shall carry out the matching under the principle of “the minimum matching quantity” between the bonded warehouse receipts on par which have not been allocated and the positions of the overseas buyer the delivery intents proposed by which have not been satisfied, and determine the bonded delivery warehouses corresponding to the overseas buyer’s delivery and the quantities to be delivered in such warehouses.

Third step: Matching the remaining buyers and the remaining delivery warehouses. With respect to each remaining delivery warehouse, in case the aggregate position quantity of the buyer which proposes the delivery intent is less than the quantity of its warehouse receipts on par, all intents of the buyer shall be satisfied; or in case the aggregate position quantity of the buyer which proposes the delivery intent is more than the quantity of its warehouse receipts on par, the buyers which will participate in the delivery matching shall be determined under the principle of "priority in the most length of the average position period".

The average position period shall take "days" as the unit, and the weighted average number of the period of each Lot of the positions. In case of the same lengths of average position periods, the priority shall be given to the buyer which has the earliest position.

∑ Period of the buyer's each Lot of position

The buyer's average position period = ─────────────────────────

the buyer's aggregate position quantity

The Exchange shall carry out the matching under the principle of “the minimum matching quantity” between the warehouse receipts left after the satisfaction of the buyer's intents and the positions of the buyer which fails to propose any delivery intent or the delivery intents proposed by which have not been satisfied, and determine the warehouses corresponding to the buyer’s delivery and the quantities to be delivered in such warehouses.

Fourth step: Matching the buyer and the seller. The Exchange shall carry out matching under the principle of “the minimum matching quantity” between the buyer with the matched warehouses and the seller which applies for delivery and holds the warehouse receipts of such warehouses, and determine the buyer and the seller corresponding to the delivery.

For Warehouse Receipt on par of group delivery warehouses, delivery intents should be applied and matching process should be conducted on the basis of sub-warehouse.

No determined matching result may be modified by the buyer or the seller. The matching results and other information shall be sent to both the buying Member and the selling Member through the member service system; and sending thereof shall be deemed to be completed upon sending by the member service system.

Article 50 The third day of the one-off delivery process shall be the handover day, that is, the last delivery day (the third trading day following the last trading day).

Before the closing of the market on the last delivery day, the buying Member shall additionally pay the difference of the payments corresponding to its positions of the delivery month.

After the closing of the market on the last delivery day, the Exchange shall deliver to the buying Member the warehouse receipts on par submitted by the selling Member. Such matters as payments and circulation of invoice for each product are handled as per the following provisions:

(i) With respect to the product of the iron ore, in case the subject matters to be handed over are bonded commodities, the selling Member shall deliver to the Exchange the VAT common invoice prior to the closing of the market on the last delivery day, and the Exchange shall pay the payments to the selling Member after the closing of the market on the last delivery day. If the selling Member fails to deliver the VAT common invoice prior to the closing of the market on the seventh (7th) trading day after the last delivery day, the Exchange shall deduct in advance the corresponding amount equal to 5% of the payments, and collect the late fees from it or confiscate it according to the relevant provisions of the Detailed Settlement Rules of Dalian Commodity Exchange.

(ii) With respect to the egg product, in case warehouse delivery is adopted and the buying client has no objection to the egg quality prior to the closing of the market of the fourth trading day following the last delivery day, the Exchange will, after the closing of the market, refund the seller’s delivery margins and pay eighty (80) percent of the payments to the selling Member, and the remaining payments shall be fully settled after the selling Member submits the VAT ordinary invoice. In case the buying client has any objection to the quality of a certain batch of eggs of a certain warehouse prior to the closing of the market of the fourth trading day following the last delivery day, it may apply for re-inspection of such batch of eggs, and the payment shall be suspended for the payments of the objected goods of its matched seller in such delivery warehouse before further handling subject to Article 235 of these Rules. In the case of factory warehouse delivery, the Exchange shall, after the closing of the market of the fourth (4) trading day following the last delivery day, refund the delivery margins to the selling Member and pay eighty (80) percent of the payments to the selling Member, and shall pay the remaining payments after the selling Member submits the VAT ordinary invoice; or in case the buying client has any objection to the quality of the egg delivered at the factory warehouse, the objection shall be resolved subject to the Measures of Management of Warehouse Receipts on Par of Dalian Commodity Exchange.

(iii) With respect to the product of No. 2 soybean, in case warehouse delivery is adopted and the corresponding cargo is imported soybean, and if the inspection and quarantine certification material is submitted by the selling Member before 14:00 of the submission day of warehouse receipt on par and is approved by the Exchange, the Exchange shall pay eighty (80) percent of the payments to the selling Member after the closing of the market on the last delivery day, and the remaining payments shall be paid after the selling Member submits the VAT special invoice; in case the inspection and quarantine certification material is submitted after 14:00 of the submission day of warehouse receipt on par but before 14:00 of the third trading day following the last delivery day and is approved by the Exchange, the Exchange shall, after the closing of the market of the third trading day following the last delivery day, pay the late fee of the selling Member to the buying Member, refund the delivery margins to the selling Member and pay eighty (80) percent of the payments to the selling Member, and the remaining payments shall be paid after the selling Member submits the VAT special invoice; in case the inspection and quarantine certification material is not submitted after 14:00 of the third trading day following the last delivery day or is submitted but not approved by the Exchange, the Exchange shall, after the closing of the market of the third trading day following the last delivery day, return the warehouse receipt on par to the selling Member, refund the corresponding payments to the buying Member, pay the buying Member five (5) percent of the contract value of the No. 2 soybean of the selling Member as compensation without collecting any late fee, and refund the delivery margins to the selling Member.

In case the inspection and quarantine certification material is not submitted by the selling Member or is submitted but not approved by the Exchange, the buying Member shall not be allowed to apply for deregistration of the warehouse receipt on par.

(iv) Except for the above three cases, the Exchange shall, after the closing of the market of the last delivery day, pay eighty (80) percent of the payments to the selling Member and the remaining payments shall be paid after the selling Member submits the VAT special invoice.

Article 51 After determination of the matching results, the buyer shall, within one (1) trading day following the matching day and subject to the provisions of the tax authorities, notify the seller of the specific matters with respect to the issuance of the invoice and/ or other documents, vouchers and/or receipts acceptable by the Exchange, including the name and address of the buying entity, the amount and the taxpayer's registration number and other information needed for issuance of the VAT special (common) invoices, except otherwise the subject matters to be handed over are bonded iron ore.

With respect to the product of the iron ore, in case the subject matters to be handed over are bonded commodities, the selling Member shall deliver to the Exchange the VAT common invoice on the last delivery day. With respect to the product of the egg, the seller shall deliver to the buyer the corresponding VAT common invoice within seven (7) trading days after the seller pays eighty (80) percent of the payments at the Exchange. With respect to the product of the No. 2 soybeans, if warehouse delivery is adopted and the corresponding cargo are imported soybeans, the seller shall deliver to the buyer the VAT special invoice within seven (7) trading days after paying eighty (80) percent of the payments at the Exchange. Except for the above three cases, the selling Member shall deliver to the buying Member the VAT special invoice within seven (7) trading days following the matching day.

Article 52 The invoices and other documents, vouchers and/or receipts acceptable by the Exchange shall be issued by the selling clients of delivery to the corresponding buying clients, and shall be forwarded and obtained by, and confirmed with assistance from, the Members of the parties.

With respect to the product of the iron ore, in case the subject matters to be handed over are bonded commodities:

The domestic selling client shall issue to the selling Member the VAT common invoice, and the overseas selling client or the overseas broker shall issue to the selling Member the corresponding certificate of receipt. The selling Member shall issue to the Exchange the VAT common invoice. The Exchange shall issue to the buying Member the VAT common invoice. The buying Member shall issue to the buying client and the overseas broker the VAT common invoice.

Any Member’s delay or failure in submission of any invoice or any other documents, vouchers and/or receipts acceptable by the Exchange shall be handled subject to the applicable provisions of the Detailed Settlement Rules of Dalian Commodity Exchange.

Chapter XVI Delivery of Iron Ore

Section I General Provisions

Article 186 The iron ore delivery may be carried out through the bill of lading delivery or the warehouse receipt on par delivery.

The bill of lading delivery and the duty-paid warehouse receipt on par delivery shall be subject to the applicable provisions of these Rules. The bonded warehouse receipt on par delivery shall be subject to the applicable provisions of the Detailed Rules for Implementation of Bonded Delivery of Dalian Commodity Exchange.

Article 187 The quality standards for and the quality premiums and discounts of the deliverable products on par and substitutes under the iron ore futures contract shall be detailed in the Iron Ore Delivery Quality Standards of Dalian Commodity Exchange (F/DCE I001-2017) as Annex 21 attached hereto.

Note: The quality standards for and the quality premiums and discounts of the deliverable products on par and substitutes before the iron ore 1809 contract shall be detailed in the Iron Ore Delivery Quality Standard of Dalian Commodity Exchange (F/DCE I001-2013) as Annex 21 attached hereto.

Section II Warehouse Receipt on Par Delivery of Iron Ore

Article 188 The delivery warehouses designated for the iron ore shall be divided into the delivery warehouses on par and other delivery warehouses (Detailed in the List of Delivery Warehouses Designated for Iron Ore of Dalian Commodity Exchange as Annex 22 attached hereto) and may be adjusted by the Exchange as the case may be.

Article 189 The price differences of the premiums and discounts of the iron ore delivery shall be settled between the vendor and the designated delivery warehouse.

Article 190 The delivery unit of the iron ore contacts shall be ten thousand (10,000) tons.

Article 191 A Member shall pay to the Exchange the delivery forecast earnest money as per the standard of CNY twenty (20) per ton when it handles the delivery forecast.

Article 192 The vendor which has fully completed the delivery forecast shall, three (3) calendar days prior to the delivery thereof into the warehouse, notify the designated delivery warehouse of the vehicle or vessel number, products, quantity, arrival time and other information, and the designated delivery warehouse shall reasonably arrange for the receipt of, and the delivery into the warehouse of, the commodities.

Article 193 The designated delivery warehouse shall engage a quality inspection agency designated by the Exchange to carry out the quality inspection of the commodities to be delivered into a warehouse.

The vendor shall notify, three (3) calendar days prior to being delivered to the warehouse, the designated delivery warehouse of the arrival method, the arrival quantity and the arrival time. The designated delivery warehouse shall notify, after its receipt of the vendor's notice of the delivery thereof into the warehouse, to the designated quality inspection agency the aforesaid information which shall be clearly described in the quality inspection agreement. In addition, the quality inspection agreement shall provide for, among other things, the day and night operation costs, the method that the vendor notifies the designated delivery warehouse of the iron ore to be delivered into the warehouse, the inspection quantity, and the time of issuing the inspection report, the designated quality inspection agency’s liability due to its failure to timely arrive at the site, and otherwise. The inspection costs shall be borne by the vendor and shall be forwarded by the designated delivery warehouse.

Article 194 The sampling of the iron ore shall be carried out in the iron ore flows being delivered into and stacked at the warehouse.

Article 195 The receiving and consigning weights of iron ore shall be subject to the weighting by the designated delivery warehouse through measurement of wagon balance, rail weighbridge, water gauge or any other measurement method agreed by the buyer and the seller. The designated delivery warehouse shall, on the basis of the moisture inspection result of the iron ore issued by the quality inspection agency designated by the Exchange, calculate the weight converted to dry basis equivalence which shall be the basis for issuing a warehouse receipt.

Article 196 The quality inspection agency designated by the Exchange shall, after its completion of the quality inspection of the iron ore, issue one (1) original and three (3) duplicate inspection reports; and the original shall be submitted to the designated delivery warehouse and two (2) of the duplicates shall be respectively submitted to the Exchange and the vendor.

Article 197 The designated delivery warehouse shall carry out, subject to the applicable provisions of the Exchange, inspection of the quality and other relevant materials and certificates of the iron ore which has been delivered into the warehouse.

Article 198 The deregistration of the warehouse receipts on par shall be carried out against the warehouse receipts of the iron ore prior to the last trading day of each March.

Article 199 When the iron ore is delivered out of the warehouse, the vendor which holds the Delivery Advice or delivery password shall contact, three (3) calendar days prior to the actual pickup date, the designated delivery warehouse in connection with the delivery thereof out of the warehouse, and shall, within ten (10) working days (inclusive of the tenth working day) after the deregistration of the warehouse receipts on par, pick up the commodities at the designated delivery warehouse.

Article 200 Upon the iron ore being loaded out of the warehouse, the designated delivery warehouse shall issue to the vendor the actual inspection result of moisture tested by the designated delivery warehouse and produce the quality inspection report upon registration of the warehouse receipt.

The designated delivery warehouse shall calculate, on the basis of the actual inspection result of moisture and the Iron Ore Delivery Quality Standards of Dalian Commodity Exchange (F/DCE I001-2017), the weight to be loaded out of the warehouse and then have the sufficient weight loaded out.

The designated delivery warehouse may settle the quality premiums and discounts with the clients on the basis of the quality inspection report upon registration of the warehouse receipt, or after the sampling and reserved sampling through mutual negotiations and without objection from the buyer or seller to the quality of the iron ore within fifteen (15) calendar days after being loaded out of the warehouse, on the basis of the quality inspection report upon registration of the warehouse receipt, or otherwise on the basis of the sampling inspection results in case of any objection from the buyer and/or seller to the quality of the iron ore.

Article 201 The vendor who has a dispute with respect to the moisture actually tested by the designated delivery warehouse shall choose the designated quality inspection agency to have the inspection carried out on site, and the inspection result shall be the measurement basis of being loaded out of the warehouse.

The vendor who has a dispute with respect to the quality inspection result of the iron ore may choose either of the following two methods to have sampling and reserved sample carried out, and shall take the sampling inspection result as the basis for dispute settlement subject to Article 55 of the Measures for Warehouse Receipts on Par Management of Dalian Commodity Exchange:

(i) To continue the loading-out, and choose a designated inspection agency to have the sampling and reserved sample carried out in the ore flows; or

(ii) To choose a designated quality inspection agency to have the sampling carried out through opening the stack, shifting the stack or otherwise.

The quality inspection costs shall be prepaid by the vendor. Any and all costs (including, but not limited to, the inspection charges and the travel expenses) and the loss shall be borne by the vendor in case the inspection result is consistent with the inspection result produced by the designated delivery warehouse or by the designated delivery warehouse in case inspection result is inconsistent with the inspection result produced by the designated delivery warehouse.

Article 202 When the iron ore is delivered out of the warehouse, the vendor shall pick up the commodities at the factory warehouse within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of the warehouse receipt on par (exclusive of the deregistration day). The factory warehouse shall commence consignment within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of the warehouse receipt on par (exclusive of the deregistration day).

The factory warehouse shall have the goods loaded out subject to the delivery quality standards as required by the contract and shall provide to the vendor the original quality inspection report issued by the factory with respect to such goods or the original quality inspection report issued by the inspection agency designated by the Exchange or recognized by the buyer and the seller with respect to such goods, which shall be used as the basis of settlement of the quality premiums and discounts.

When the soybean meal is delivered out of the warehouse, the factory warehouse shall carry out the sampling under the vendor's supervision, and the samplings shall be sealed after being confirmed by both parties and shall be preserved for fifteen (15) calendar days following the consignment day as the basis for handling any quality dispute.

Chapter XXII Delivery Costs

Article 321

With respect to the iron ore, the delivery commissions shall be CNY zero point five (0.5) per ton.

Article 322 The costs for the delivery into or loading out of the designated delivery warehouse shall be subject to a maximum price.

The Exchange will irregularly check and publish the standards for the maximum costs of the delivery into or loading out of the designated delivery warehouse.

The standards for the maximum costs of the delivery into or loading out of any new designated delivery warehouse shall enter into force as of the date of being promulgated by the Exchange.

Article 323 The costs for the miscellaneous operation services of the designated delivery warehouse shall be subject to a maximum price. The maximum charging standards for the miscellaneous operation services of any and all designated delivery warehouses shall be formulated and published by the Exchange.

Article 324 With respect to No. 1 soybeans, the charging standards for the warehousing and dissipation costs (including the warehousing costs, custody dissipation, fumigation costs) shall be CNY zero point forty (0.40) per day per ton, and during the period as of May 1 through October 31, the high-temperature storage costs of CNY zero point ten (0.10) per day per ton will be additionally charged.

With respect to the soybean meals, the charging standards for the warehousing and dissipation costs (including the warehousing costs, custody dissipation, fumigation costs) shall be CNY zero point fifty (0.50) per day per ton.

The charging standards for the warehousing and dissipation costs of No. 2 soybeans shall be published by the Exchange. With regard to the factory warehouse receipt on par of No. 2 soybeans, the warehousing and dissipation costs shall be charged according to the spot standards of soybeans within four (4) calendar days after the deregistration day of the warehouse receipt on par (exclusive of the deregistration day); the warehousing and dissipation costs shall be charged respectively according to the spot standard of soybean meal and soybean oil after four (4) calendar days following the deregistration day of the warehouse receipt on par (exclusive of the deregistration day).

With respect to the soybean oil and RBD palm olein, the charging standards for the warehousing and dissipation costs (including the warehousing costs, custody dissipation, fumigation costs) shall be CNY zero point ninety (0.90) per day per ton.

With respect to the corn, the charging standards for the warehousing and dissipation costs (including the warehousing costs, custody dissipation, fumigation costs) shall be CNY zero point fifty (0.50) per day per ton, and during the period as of May 1 through October 31, the high-temperature storage costs of CNY zero point ten (0.10) per day per ton will be additionally charged.

With respect to the linear low density polyethylene, the polyvinyl chloride and the polypropylene, the charging standards for the warehousing costs shall be CNY one (1) per day per ton.

With respect to the coke and the coking coal, the charging standards for the warehousing costs shall be CNY one (1) per day per ton.

With respect to the iron ore, the charging standards for the warehousing costs shall be CNY zero point fifty (0.50) per day per ton.

The charging standards for the warehousing costs of the eggs, fiberboard and blockboard and the warehousing and loss costs of the corn starch shall be promulgated by the Exchange.

Article 325 As of the day immediately following the full payment of the warehousing and dissipation costs of the warehouse receipt on par through the day of deregistration thereof, the monthly warehousing and dissipation costs shall be payable by the Member with which such warehouse receipt on par is affiliated to the Exchange within the first three (3) trading days of the immediately following month, and the Exchange will pay such warehousing and dissipation costs to the designated delivery warehouse after receipt of invoices thereof. Prior to the day immediately following the full payment of the warehousing and dissipation costs of the warehouse receipt on par and after the day of deregistration thereof, any incurred warehousing and dissipation costs shall be fully settled between the designated delivery warehouse and the vendor. No dissipation costs will be charged with respect to the linear low density polyethylene, polyvinyl chloride, fiberboard, blockboard or polypropylene.

Article 326 Regarding Group Delivery Warehouse’s Delivery business, storage and loss fees paid to sub-warehouse; Warehouse entry and exit, miscellaneous operation fees and other exchange related provisions of costs are undertaken by stock owner and sub-warehouse. Storage and loss fees, entry and exit fees, miscellaneous fees, and other fee’s receipt is to be issued by sub-warehouse. Premium/discount price difference and receipt are to be received and handled by sub-warehouse.

Article 327 The Exchange may adjust the charging standards of the foregoing costs subject to the national policies and the market situations, which will be timely notified by the Exchange to the Members and the designated delivery warehouses.

Article 328 Any items not covered in the provisions by the Exchange may be charged by the designated delivery warehouse by reference to the charging standards applicable to the relevant industry.

Chapter XXIII Delivery Default

Article 329 Either of the following circumstances will result in a delivery default:

(i) The seller fails to fully deliver the warehouse receipt on par within the prescribed period; or

(ii) The buyer fails to fully pay the payments within the prescribed period.

Article 330 The formula for quantity of the contracts of delivery default by the buyer and the seller shall be:

The quantity of the contracts of delivery default by the seller (Lot) = The quantity of the warehouse receipts on par which should have been delivered (Lot) - The quantity of the warehouse receipts on par which have been delivered (Lot).

The quantity of the contracts of delivery default by the buyer shall be calculated as per the following formula:

For the duty-paid warehouse receipts on par received by the buyer: The quantity of the contracts of delivery default by the buyer (Lot) = [The payments which should have been paid (CNY) - The payments which have been paid (CNY)] ÷ (1-20%) ÷ The delivery settlement price (CNY/Ton) ÷ The trading unit (Ton/Lot).

For the bonded warehouse receipts on par received by the buyer: The quantity of the contracts of delivery default by the buyer (Lot)=[ The bonded payments which should have been paid (CNY) - The payments which have been paid (CNY)]÷（1-20%）÷The bonded delivery settlement price (CNY/Ton)÷The trading unit (Ton/Lot)。

For the bonded warehouse receipts on par of iron ore received by the buyer: The quantity of the contracts of delivery default by the buyer (Lot) = [The bonded payments which should have been paid (CNY) - The payments which have been paid (CNY)] ÷ [The bonded delivery settlement price (CNY/Ton) × (1-20%) + The bonded premiums/discounts (CNY/Ton)] ÷ The trading unit (Ton/Lot)。

Article 331 Any occurrence of a delivery default event shall be notified by the Exchange to the default party and the non-default party after settlement on the contract's last delivery day (the handover day of the rolling delivery). The default notice shall be sent by the Member service system together with the settlement data of the then-current day; and sending thereof shall be deemed to be completed upon sending by the Member service system.

Article 332 In case a delivery default is committed, the liquidated damages of twenty (20) percent of the contract value of the default portions shall be paid by the defaulting party to the non-defaulting party, and the delivery shall terminate between the buyer and the seller.

Article 333 In case of any termination of the delivery as provided herein, the Exchange's guarantee liability shall terminate.

Article 334 In case both the buyer and the seller are in default, the Exchange shall terminate the delivery and impose a fine of five (5) percent of the contract value of the portions in default respectively against the buyer and the seller.

Article 335 In case partial delivery default occurs to a Member, the warehouse receipts on par, or payments, received by the default Member may be used to handle the default.

Article 336 In case a Member intentionally commits a default during the physical delivery, measures shall be taken subject to Article 27 of the Measures for Handling of Violations of Dalian Commodity Exchange.

Chapter XXIV Supplementary Provisions

Article 337 No business with respect to delivery and warehouse receipts on par, non-standard warehouse receipts or bills of lading will be handled by the Exchange during the after-hours trading sessions.

Article 338 Any violation of these Rules shall be punished by the Exchange pursuant to the applicable provisions of the Measures for Handling of Violations of Dalian Commodity Exchange.

Article 339 These Rules shall be interpreted by Dalian Commodity Exchange.

Article 340 These Rules shall enter into force as of the date of promulgation.

1. 总则

为保证大连商品交易所(以下简称交易所)期货交割业务的正常进行，规范实物交割行为，根据《大连商品交易所交易规则》，制定本细则。

第二条 交易所上市的商品期货合约采用实物交割方式。实物交割是指交易双方按照合约和规则的规定通过该期货合约所载商品所有权的转移,了结未平仓合约的过程。

第三条 客户的实物交割应当由会员办理，并以会员名义在交易所进行。

委托境外经纪机构从事期货交易的客户的交割应当委托其境外经纪机构办理，境外经纪机构再委托会员办理，以会员名义在交易所进行。

第四条 个人客户持仓和焦炭、焦煤、铁矿石、黄大豆2号非交割单位整数倍持仓不得交割。

自交割月份第一个交易日起，交易所对个人客户交割月份合约的持仓予以强行平仓。

对焦炭、焦煤、铁矿石、黄大豆2号以外品种合约，最后交易日收市后，个人客户交割月份合约的持仓仍未能平仓的，首先由会员代为履约，会员仍未能履约的，则按照本细则第二十三章有关规定进行处理。

对焦炭、焦煤、铁矿石、黄大豆2号合约，最后交易日收市后，个人客户交割月份合约的持仓和非交割单位整数倍持仓仍未能平仓的，由交易所按照“不允许交割持仓优先，含有时间最短持仓的交割单位整数倍持仓优先”原则，选择对手方持仓对冲平仓，平仓价格为该合约交割结算价，并对客户持有的不允许交割持仓部分处以按交割结算价计算合约价值20％的罚款，该款项支付给对方。若对冲双方均为持有不允许交割持仓的客户，交易所对双方分别处以按交割结算价计算合约价值20％的罚款，不再支付给对方。

第五条 交易所上市的商品期货合约的交割业务按本细则进行，交易所、会员、境外经纪机构、客户、指定交割仓库、指定车板交割场所、指定质量检验机构等交割业务参与者应当遵守本细则。

1. 期货转现货

第六条 期货转现货（以下简称期转现）是指持有同一交割月份合约的交易双方通过协商达成现货买卖协议，并按照协议价格了结各自持有的期货持仓，同时进行数量相当的货款和实物交换。

第七条 期转现分为标准仓单期转现和非标准仓单期转现。标准仓单期转现根据标准仓单类型分为完税标准仓单期转现和保税标准仓单期转现（以下简称保税期转现）。《大连商品交易所保税交割实施细则》对保税期转现具体流程有规定的，按照其规定执行。

第八条 提出期转现申请的客户必须是单位客户，鸡蛋、黄大豆2号以外的品种，期转现的期限为该合约上市之日起至交割月份前一个月倒数第三个交易日（含当日），鸡蛋品种非标准仓单期转现的期限为该合约上市之日起至最后交易日倒数第四个交易日（含当日），黄大豆2号品种标准仓单和非标准仓单期转现的期限为该合约上市之日起至交割月份第六个交易日（含当日）。

第九条 交易双方达成现货买卖协议后，应向交易所提交下述材料：

（一）期转现申请；

（二）现货买卖协议；

（三）相关的货款证明；

（四）相关的标准仓单、入库单、存货单等货物持有证明。

对于黄大豆2号品种，若以仓库标准仓单进行期转现并且对应货物为进口大豆，还应当提交入境货物检验检疫证明或检验检疫处理通知书（以下统称“检验检疫证明材料”）。

第十条 采用标准仓单进行期转现时，会员应在交易日11:30前向交易所提出申请，交易所在申请的当日内予以审批。

批准日11:30前，卖方会员应将相应数量的标准仓单交到交易所，买方会员应将按协议价格计算的全额货款划入交易所帐户。

第十一条 采用非标准仓单进行期转现时，交易所在收到申请后的三个交易日内予以审批。

第十二条 标准仓单期转现的仓单交收和货款支付由交易所负责办理，具体流程见《大连商品交易所结算细则》和《大连商品交易所保税交割实施细则》。黄大豆2号以外的品种，手续费按交割手续费标准收取，黄大豆2号品种的手续费由交易所另行公布。

第十三条 非标准仓单期转现的货物交收和货款收付通过交易双方自行办理的，由交易双方自行协商确定；货款收付委托交易所办理的，具体流程见《大连商品交易所结算细则》。黄大豆2号以外的品种，手续费按交易手续费标准收取，黄大豆2号品种的手续费由交易所另行公布。交易所对非标准仓单期转现的货物交收和货款支付不承担担保责任。

采用非标准仓单进行期转现时，交易双方应在现货交易结束后向交易所提交货物交收证明，货款收付自行办理的，还应当向交易所提交货款支付证明；交易所有权对交易双方的现货行为进行监督和核查。

第十四条 期转现批准日结算时，交易所将交易双方的期转现持仓按协议价格进行结算处理，产生的盈亏计入当日平仓盈亏。

第十五条 期转现的持仓从当日持仓量中扣除，交易结果不计入当日结算价和成交量。每个交易日结束后，交易所将当日执行的期转现有关信息予以公布。

第十六条 对非善意的期转现行为，按照《大连商品交易所违规处理办法》中的有关规定处理。

第三章 提货单交割

第十七条 提货单交割是指在交割月前一个月的规定时间内，由买卖双方主动申请、经交易所组织配对并监督、按照规定程序进行货物交收的实物交割方式。

提货单交割的商品可以是完税商品，也可以是保税商品。同一批提货单交割的商品应当同为完税商品或者保税商品。

铁矿石合约可采用提货单交割，交货地点在交易所指定交割地点中选择，具体指定交割地点由交易所另行公布。

第十八条 提货单是指在买方完成商品验收、确认合格、并经存货港口对物权转移确认后，卖方签发给买方的实物提货凭证。

提货单的内容包括：买方名称、卖方名称、存货港口名称、货物名称、数量、品质、存放地点、货物状态（完税商品或保税商品）、签发日期等。提货单须经买方、卖方、存货港口盖章确认。

第十九条 提货单交割由会员代境外经纪机构、客户办理，非期货公司会员可自行办理。委托境外经纪机构进行期货交易的客户，提货单交割由境外经纪机构办理，境外经纪机构再委托会员办理。

客户提出提货单交割申请的总量不得超过其同方向持仓。

铁矿石合约每笔提货单交割申请的数量为1万吨或其整数倍。

第二十条 提货单交割的申请及配对按照如下规定进行：

（一）买方客户在交割月前一个月第10个交易日至交割月前一个月第14个交易日期间内，每个交易日闭市前可以通过会员提出多笔包含数量和交收地点的意向申请，每笔申请只能提一个交收地点；交易所于当日闭市后汇总买方的申请数量和地点，并通过电子仓单系统、交易所网站等对外公布。

（二）卖方客户在买方提意向申请的第2个交易日下午14:00前，根据上一个交易日公布的买方意向，可以通过会员向交易所提出多笔包含数量和交收地点的申请，申请中也可以包含配对时参考的意向买方，单笔申请最多可以包含两个意向地点和两个意向买方。

（三）卖方提出申请当日为配对日。配对日闭市后，交易所参考卖方提出的意向买方和意向地点，按照最大交割数量原则组织配对。配对结果一经确定，买卖双方不得变更。

第二十一条 配对日闭市后，交割配对持仓按配对日的结算价平仓。交割结算价为配对日的当日结算价。买持仓的交易保证金转为交割预付款，卖持仓的交易保证金转为交割保证金。

客户在提申请时应同时向交易所提交联系人及相应的联系方式，交易所于配对日闭市后，通过电子仓单系统将配对结果、联系人和联系方式发送给买卖双方会员，配对结果同时通过交易所网站等对外公布。系统一经发送，即视为已经送达。买卖双方收到配对信息后，应主动沟通协商货物交收事宜。

第二十二条 船预计到港或在港货物验收前3个自然日（若第3个自然日不是交易日，则提前至上一个交易日）为通知日。

卖方会员通过电子仓单系统将交货地点、货物预计到港日期、数量、船名、提单号、货物状态（完税商品或保税商品）等信息发送至交易所。通知日闭市后，交易所通过电子仓单系统发送给买方会员。如果货物到港日期等信息发生变更，卖方应及时通知买方。

第二十三条 通知日后第3个自然日（第3个自然日不是交易日的，顺延至下一个交易日）闭市前，买方的交割预付款和卖方的交割保证金应按配对合约价值20%补足。闭市后，交易所从相应会员的结算准备金中划转。

第二十四条 最后通知日为交割月前一个月倒数第3个交易日。卖方仍未发送通知信息的，在最后通知日后第3个自然日（第3个自然日不是交易日的，顺延至下一个交易日）闭市前，买方的交割预付款和卖方的交割保证金应按配对合约价值20%补足。闭市后，交易所从相应会员的结算准备金中划转。

第二十五条 货物交收确认可以按照以下程序进行：

（一）卖方应最少在卸货前（或货物检验前）10小时通知买方，买卖双方到场监收。

（二）买方委托的质检机构应在卸货过程中或堆垛过程中进行抽样。检验项目按本细则规定的铁矿石期货交割质量标准进行。抽样样品留存2个月。检验费用由买方负担，其他费用由卖方负担。

（三）货物检重以地磅或双方认可的其他计重方式为准。首先根据装船时检验的水分，按照合约的规定对重量进行折算，足量称重，最终依据为货物交收时质检机构出具的水分检验结果，允许3%的溢短。折算时均按四舍五入取整。

例.假设应交收的干基重量10000吨，装船水分检验结果为6%，卸船时质检机构的水分检验结果为8%，则卸货时应按10000÷（1-6%）=10638（吨）足量验重，假设实际卸货重量为a吨，则最后实际交收重量为a×（1-8%）吨，溢短为[a×（1-8%）-10000]（吨）。

（四）卸货完成当日，卖方根据港口出具的磅单，通过电子仓单系统填写交收明细，买方应在当天进行确认，逾期未确认的交易所视为买方无异议。

交收标的为完税商品的，在买方完成品质检验、卖方完成报关后，买方、卖方、港口三方就货物交收事宜进行确认；交收标的为保税商品的，买方完成品质检验后，买方、卖方、港口三方就货物交收事宜进行确认。确认后卖方会员最迟于下一交易日14:00前，通过电子仓单系统填写《交收确认通知单》，买方会员应在卖方填写《交收确认通知单》当日14:30前完成确认，逾期未确认的交易所视为买方无异议。同时，买方将三方确认后的有效提货单通过传真或其他书面方式报送交易所，原件由客户留存备查。

交收标的为保税商品的，买方需要进口报关的，买方应当在《保税交割结算单》（报关专用）开具日10个工作日（含）内，持《保税交割结算单》（报关专用），按照海关相关规定办理进口报关手续。

第二十六条 买卖双方不按以上程序进行交收确认的，双方应通过电子仓单系统于确认当日14:00前填写《交收确认通知单》，同时应签订《交收商品品质、数量确认书》（铁矿石合约的交收商品品质、数量确认书详见附件20），并以传真或其他书面方式报送交易所，交易所不再受理由于交收品质和数量引发的争议申请，原件应在三个工作日内送达交易所。

第二十七条 交易所在收到《交收确认通知单》当日闭市后，通过会员服务系统向买方会员发送货款补齐通知，包括溢短款和升贴水。完税商品货款按交割结算价计算。保税商品货款按交割结算价扣除进口环节增值税、进口关税、消费税等税款后计得的保税交割结算价计算；保税商品升贴水按升贴水扣除进口环节增值税、进口关税、消费税等税款后计得的保税升贴水计算。

保税交割结算价=[(交割结算价-相关费用)/(1+进口增值税税率)-消费税]/(1+进口关税税率)；

保税升贴水=升贴水/(1+进口增值税税率)/(1+进口关税税率)

本条第二款所指的“相关费用”包括商品进口报关、报检及代理服务等费用，由交易所另行发布；公式适用于消费税从量计征，关税从价计征的期货品种，其他品种的保税交割结算价计算公式由交易所另行规定。

第二十八条 交易所收到《交收确认通知单》下一个交易日为交收日。

交收日闭市前，买方会员应将交割买持仓相对应的货款（包括溢短款和升贴水）与交割预付款的差额部分划入交易所的专用结算账户，交收标的为保税商品的，卖方会员应将增值税普通发票交付交易所；闭市后，交收标的为完税商品的，交易所释放卖方交割保证金，并将全额货款的80%划转给卖方，其余货款在卖方提交了增值税专用发票后结清；交收标的为保税商品的，交易所释放卖方交割保证金，并将保税货款划转给卖方。

交收标的为完税商品的，发票或者交易所认可的其他单据由交割的卖方客户向相对应的买方客户开具，并由双方会员转交、领取并协助核实。

交收标的为保税商品的，境内卖方客户应向卖方会员开具增值税普通发票，境外卖方客户或境外经纪机构应向卖方会员开具相应的收款凭证；卖方会员应向交易所开具增值税普通发票；交易所应向买方会员开具增值税普通发票；买方会员应向买方客户、境外经纪机构开具增值税普通发票。

第二十九条 买方应在完成抽样后次日起7个工作日内且在最后交易日前一个交易日前，分别向交易所和卖方提交质检报告，买方会员通过电子仓单系统填写交收商品品质检验信息，卖方应在买方填写品质检验信息的下一个交易日闭市前对检验结果进行确认。

卖方如对买方出具的检验结果有异议，应在买方提交检验报告的下一个交易日闭市前向交易所提出复检申请。交易所在指定质量检验机构中选取复检机构，以卸货时的抽样存样的复检结果为解决争议的依据。逾期未提出申请的，视作对检验结果无异议。

卖方提出争议时，复检费用先由卖方先行垫付，复检结果与原检验结果的差异在相关标准规定的合理误差范围内的，由此产生的费用（包含检验费、差旅费等）由卖方负担；否则，该费用由买方负担。

第三十条 交收标的为保税商品的，交易所为卖方开具《保税交割结算单》（税务专用、记账专用），为买方开具《保税交割结算单》（记账专用），作为客户申报纳税的凭据；对于有报关进口需求的，交易所为买方开具《保税交割结算单》（报关专用），作为买方办理进口报关的凭据。《保税交割结算单》中除了价格信息外，还包括仓库名称、实际数量、交割时间、交割方式、保税升贴水信息等内容，交割方式中应当标注“提货单交割”。

第三十一条 最后交易日闭市前，交易所未收到《交收确认通知单》的，闭市后交易所根据不同情况按照以下规定进行处理：

（一）由于买方原因导致双方无法如期完成交收确认的，交易所处以买方交割结算价计算的合约价值20%的惩罚性违约金，并支付给卖方，退还卖方交割保证金，终止交割。

（二）由于天气、压港等原因导致双方无法如期完成交收确认的，卖方应在导致延误当日告知交易所，交易所根据实际情况确认最终交收时间。

（三）由于卖方除天气之外等原因导致双方无法如期完成交收确认的，交易所处以卖方按交割结算价计算的合约价值20%的惩罚性违约金，并支付给买方，退还买方交割预付款，终止交割。

（四）由于品质检验争议导致双方无法如期完成交收确认的，复检结果与大连商品交易所交割质量标准相符的，继续交割；不符合的，处以卖方按交割结算价计算的合约价值20%的惩罚性违约金，并支付给买方，退还买方交割预付款，终止交割。

第三十二条 提货单交割违约是指在规定期限内，买方未能如数解付货款，卖方未能在规定地点如数交付符合期货交割质量标准的商品。

买方构成交割违约的，交易所处以买方按交割结算价计算的违约部分合约价值20%的惩罚性违约金，并支付给卖方，同时释放卖方的交割保证金，交割终止。

买方交割违约合约数量计算公式如下：

交收标的为完税商品的，买方交割违约合约数量（手）=[应交货款（元）-已交货款（元）]÷[交割结算价（元/吨）×（1-20%）+升贴水（元/吨）]÷交易单位（吨/手）。

交收标的为保税商品的，买方交割违约合约数量（手）=[应交货款（元）-已交货款（元）]÷[保税交割结算价（元/吨）×（1-20%）+保税升贴水（元/吨）]÷交易单位（吨/手）。

卖方构成交割违约的，交易所处以卖方按交割结算价计算的违约部分合约价值20%的惩罚性违约金，并支付给买方，同时释放买方的货款，交割终止。

卖方交割不足部分合约数量（手）=[应交的商品重量（吨）-已交的重量（吨）]÷交易单位（吨/手）

若买卖双方都违约的，交易所对双方按交割结算价计算的违约部分合约价值5%分别处以罚款。

1. 滚动交割

第三十三条 黄大豆1号、黄大豆2号、豆粕、豆油、玉米、玉米淀粉合约适用滚动交割。

第三十四条 滚动交割是指在交割月第1个交易日至第9个交易日期间，由持有标准仓单（已冻结的除外，下同）和交割月单向卖持仓的卖方客户主动提出，并由交易所组织匹配双方在规定时间完成交割的交割方式。

滚动交割的交割结算价采用该期货合约滚动交割配对日的当日结算价。

第三十五条 滚动交割由客户提出交割申请，会员代客户办理。

第三十六条 滚动交割流程的第一日是配对日。

（一）卖方申报交割。进入交割月后，同时持有标准仓单和交割月单向卖持仓的客户可以通过会员提出交割申请，会员在交割月第一个交易日至最后交易日前一交易日闭市前，均可向交易所申报交割。提出交割申请的相应持仓和仓单予以冻结，其卖持仓对应的交易保证金不再收取。对于黄大豆2号品种，只能以厂库标准仓单申报交割。

（二）买方申报意向。持有交割月单向买持仓的买方在交割月第一个交易日至最后交易日前一交易日闭市前可以向交易所申报交割意向。

第三十七条 配对日闭市后，交易所通过系统，按照“申报意向优先、含有建仓时间最早的持仓优先”原则，确定参与配对的买方持仓。

对于选取的买卖双方，交易所先以仓库为单位汇总卖方申报交割的仓单数量，在买方和仓库之间按照“最少配对数”原则进行配对，确定买方交割对应的仓库和在该仓库交割的数量；再将配好仓库的买方与申请交割且持有该仓库仓单的卖方以“最少配对数”原则进行配对，确定交割对应的买卖双方。配对结果一经确定，买卖双方不得变更。

对于集团交割仓库的标准仓单，以分库为单位申报交割意向，进行交割配对。

第三十八条 配对日闭市后，买方会员的配对买持仓的交易保证金转为交割预付款。

第三十九条 配对日闭市后，配对持仓从交割月合约的持仓量中扣除，不再受持仓限额限制。《交割通知单》和配对结果等滚动交割信息随配对日结算单通过会员服务系统发送给买卖双方会员，会员服务系统一经发送，即视为已经送达。配对结果等信息通过相关公共媒体和信息商对社会公众发布。

第四十条 配对结果确定后，买方应及时向卖方提供有关增值税专用发票开具内容的事项，卖方在配对日后7个交易日内将增值税专用发票交付买方。

交割增值税专用发票由交割的卖方客户向相对应的买方客户开具，客户开具的增值税专用发票由双方会员转交、领取并协助核实。

会员迟交或未提交增值税专用发票的，按《大连商品交易所结算细则》有关规定处理。

第四十一条 配对日后（不含配对日）第2个交易日为交收日。交收日闭市之前，买方会员须补齐与其配对交割月份合约持仓相对应的全额货款，办理交割手续。

第四十二条 交收日闭市后，交易所将卖方交割的仓单分配给对应的配对买方。

第四十三条 交收日闭市后，交易所将卖方会员提交的标准仓单交付买方会员，将货款的80%付给卖方会员，余款在卖方会员提交了增值税专用发票后结清。

第四十四条 滚动交割违约是指在规定期限内，买方未能如数解付货款。构成交割违约的，按本细则第二十三章的有关规定处理，其中违约合约价值按配对日结算价计算，交割违约处理在滚动交割的交收日后进行。

第五章 一次性交割

第四十五条 交易所上市的所有商品期货合约适用一次性交割。

第四十六条 一次性交割是指在合约最后交易日后，交易所组织所有未平仓合约持有者进行交割的交割方式。

一次性交割在3个交易日内完成，分别为标准仓单提交日、配对日和交收日（最后交割日）。在合约最后交易日后，所有未平仓合约的持有者须以交割履约，同一客户号买卖持仓相对应部分的持仓视为自动平仓，不予办理交割，平仓价按一次性交割的交割结算价计算。

对于鸡蛋以外的品种，一次性交割的交割结算价采用该期货合约自交割月第一个交易日起至最后交易日所有成交价格的加权平均价。对于鸡蛋品种，一次性交割的交割结算价采用该期货合约交割月最后十个交易日所有成交价格的加权平均价；若交割月不足十个交易日，交割结算价采用该期货合约自交割月第一个交易日起至最后交易日所有成交价格的加权平均价。

第四十七条 最后交易日闭市后，交易所将交割月份买持仓的交易保证金转为交割预付款。

第四十八条 一次性交割流程第一日是标准仓单提交日。

最后交易日后第一个交易日闭市前，卖方会员应当将与其交割月份合约持仓相对应的全部标准仓单交到交易所，最后交易日后第一个交易日闭市后，交易所公布各交割仓库或分库交割品种与标准仓单数量信息。

对于黄大豆2号品种，若采用仓库交割并且对应货物为进口大豆，在标准仓单提交日14:00前，卖方会员还应当提交与交割商品相应的检验检疫证明材料。如未能按时提交，卖方会员可以在标准仓单提交日14:00后至最后交割日后第3个交易日14:00前提交，但应当自标准仓单提交日（含当日）起至相应检验检疫证明材料提交日（含当日）止，按2元/吨•天的标准支付滞纳金，补偿给买方会员。

第四十九条 一次性交割流程第二日是配对日。

最后交易日后第二个交易日闭市前，买方可以根据交易所公布的信息，提出交割意向申报。买方可以申报两个交割意向,包括第一意向和第二意向。闭市后交易所分配标准仓单时，将保税标准仓单按照“境外买方客户优先”、“意向优先”原则进行分配。其中，意向优先性顺序为：对任一买方，先考虑其第一意向，第一意向未得到满足或未全部得到满足，再考虑其第二意向；对任一交割仓库，先考虑将该仓库作为第一意向的买方，若有剩余仓单，再考虑将该仓库作为第二意向的买方。

配对日闭市后，交易所按照如下原则和步骤进行交割配对：

第一步：汇总标准仓单。交易所以仓库为单位汇总卖方的标准仓单；

第二步：匹配境外买方和保税标准仓单。对任一保税交割仓库，若提出交割意向境外买方持仓数量合计小于其保税标准仓单数量，则所有境外买方意向均满足；若提出交割意向境外买方持仓数量合计大于其保税标准仓单数量，则按照“平均持仓时间长优先”的原则确定参与交割配对的境外买方。然后将意愿未被满足的境外买方持仓和未分配的保税标准仓单，以“最少配对数”原则进行分配，确定境外买方交割对应的保税交割仓库和在该仓库交割的数量。

第三步：匹配剩余买方和剩余交割仓库。对剩余的任一交割仓库，若提出交割意向买方持仓数量合计小于其标准仓单数量，则所有买方意向均满足；若提出交割意向买方持仓数量合计大于其标准仓单数量，则按照“平均持仓时间长优先”的原则确定参与交割配对的买方。

其中：平均持仓时间是以“天”为单位，每手持仓时间的加权平均数。平均持仓时间相同的，持有建仓时间早的买方优先。具体公式为：

∑买方每手持仓时间

买方平均持仓时间= ───────────

买方总持仓量

交易所将满足买方意向后剩余的仓库仓单，与未提交割意向和所提交割意向未被满足的买方持仓，按照“最少配对数”原则进行配对，确定买方交割对应的仓库和在该仓库交割的数量。

第四步，匹配买卖双方。交易所将配好仓库的买方与持有该仓库仓单的卖方以“最少配对数”原则进行配对，确定交割对应的买卖双方。

对于集团交割仓库的标准仓单，以分库为单位申报交割意向，进行交割配对。

配对结果一经确定，买卖双方不得变更。配对结果等信息通过会员服务系统发送给买卖双方会员，会员服务系统一经发送，即视为已经送达。

第五十条 一次性交割流程第三日是交收日，即最后交割日（最后交易日后第三个交易日）。

最后交割日闭市前，买方会员应当补齐与其交割月份合约持仓相对应的差额货款。

最后交割日闭市后，交易所将卖方会员提交的标准仓单交付买方会员。各品种货款、发票流转等事宜按如下规定办理：

（一）对于铁矿石品种，交收标的为保税商品的，卖方会员应在最后交割日闭市前向交易所提交增值税普通发票，交易所在最后交割日闭市后将货款付给卖方会员，最后交割日后7个交易日闭市前，卖方会员未提交增值税普通发票的，交易所对其按货款的5%预扣相应的款项，并按照《大连商品交易所结算细则》相关规定从中收取滞纳金或予以罚没。

（二）对于鸡蛋品种，若采用仓库交割，最后交割日后第4个交易日闭市前，买方客户对鸡蛋质量无异议的，交易所在闭市后清退卖方会员交割保证金，将货款的80%付给卖方会员，余款在卖方会员提交了增值税普通发票后结清。最后交割日后第4个交易日闭市前，买方客户对某个交割仓库某批次鸡蛋质量有异议的，可以申请对该批次鸡蛋复检，该交割仓库中与其配对的卖方异议部分货款暂不支付，并按照本细则第二百三十五条规定进行处理。若采用厂库交割，交易所在最后交割日后第4个交易日闭市后清退卖方会员交割保证金，将货款的80%付给卖方会员，余款在卖方会员提交了增值税普通发票后结清；买方客户对厂库交割的鸡蛋质量有异议的，按照《大连商品交易所标准仓单管理办法》相关规定解决质量争议。

（三）对于黄大豆2号品种，采用仓库交割并且对应货物为进口大豆的，卖方会员若在标准仓单提交日14:00前提交相应的检验检疫证明材料，并通过交易所审核，交易所在最后交割日闭市后将货款的80%付给卖方会员，余款在卖方会员提交了增值税专用发票后结清；若在标准仓单提交日14:00后至最后交割日后第3个交易日14:00前提交相应的检验检疫证明材料，并通过交易所审核，交易所在最后交割日后第3个交易日闭市后，将卖方会员滞纳金支付给买方会员，清退卖方会员交割保证金，将货款的80%付给卖方会员，余款在卖方会员提交了增值税专用发票后结清；若截至最后交割日后第3个交易日14:00仍未提交相应的检验检疫证明材料或者提交但未通过交易所审核，交易所在最后交割日后第3个交易日闭市后将标准仓单退回卖方会员，退还买方会员相应货款，将卖方会员该部分黄大豆2号合约价值5%的赔偿金支付给买方会员，不收取滞纳金，清退卖方会员交割保证金。

若卖方会员未提交检验检疫证明材料或者提交但未通过交易所审核，买方会员不得申请注销仓库标准仓单。

（四）除上述三种情况外，交易所在最后交割日闭市后将货款的80%付给卖方会员，余款在卖方会员提交了增值税专用发票后结清。

第五十一条 配对结果确定后，买方应当在配对日后1个交易日内，按照税务机关的规定将开具发票或者交易所认可的其他单据的具体事项，包括购货单位名称、地址、金额、开具增值税专用（普通）发票所需的纳税人登记号等信息通知卖方。交收标的为保税铁矿石的除外。

对于铁矿石品种，交收标的为保税商品的，卖方会员应当在最后交割日向交易所提交增值税普通发票；对于鸡蛋品种，卖方在交易所支付80%货款后7个交易日内将相应的增值税普通发票交付买方；对于黄大豆2号品种，若采用仓库交割并且对应货物为进口大豆，卖方在交易所支付80%货款后7个交易日内，将相应的增值税专用发票交付买方；除上述三种情况外，卖方会员应当在配对日后7个交易日内将增值税专用发票交付买方会员。

第五十二条 发票或者交易所认可的其他单据由交割的卖方客户向相对应的买方客户开具，并由双方会员转交、领取并协助核实。

对于铁矿石品种，交收标的为保税商品时：

境内卖方客户应向卖方会员开具增值税普通发票，境外卖方客户或境外经纪机构应向卖方会员开具相应的收款凭证；卖方会员应向交易所开具增值税普通发票；交易所应向买方会员开具增值税普通发票；买方会员应向买方客户、境外经纪机构开具增值税普通发票。

会员迟交或未提交交易所规定的发票或者其他单据的，按《大连商品交易所结算细则》有关规定处理。

第十六章 铁矿石交割

第一节 一般规定

第一百八十六条 铁矿石交割可以采用提货单交割或标准仓单交割。

提货单交割和完税标准仓单交割按照本细则相关规定执行。保税标准仓单交割按照《大连商品交易所保税交割实施细则》相关规定执行。

第一百八十七条 铁矿石合约交割标准品、替代品的质量标准和质量升贴水详见附件21《大连商品交易所铁矿石交割质量标准（F/DCE I001-2017）》。

（注：铁矿石1809之前合约交割标准品、替代品的质量标准和质量升贴水详见附件21《大连商品交易所铁矿石交割质量标准（F/DCE I001-2013））

第二节 铁矿石标准仓单交割

第一百八十八条 铁矿石指定交割仓库分为基准交割仓库和非基准交割仓库(详见附件22《大连商品交易所铁矿石指定交割仓库名录》),交易所可视情况对铁矿石指定交割仓库进行调整。

第一百八十九条 铁矿石合约质量升贴水的差价款由货主同指定交割仓库结算。

第一百九十条 铁矿石合约交割单位为10000吨。

第一百九十一条 会员办理交割预报时，应当按20元/吨向交易所交纳交割预报定金。

第一百九十二条 办理完交割预报的货主应当在入库前3个自然日之前，将车船号、品种、数量、到货时间等通知指定交割仓库，指定交割仓库应当合理安排接收商品入库。

第一百九十三条 指定交割仓库应当委托交易所指定的质量检验机构对入库商品进行质量检验。

货主应当在入库前3个自然日之前，将到货方式、到货数量、到货时间通知指定交割仓库。指定交割仓库应当在收到货主入库通知后，将以上信息通知指定质量检验机构，并在委托质检协议中列明。委托质检协议中还应当明确昼夜作业费用、指定交割仓库通知指定质量检验机构铁矿石入库的方式、检验数量、出具检验报告的时间以及因指定质量检验机构未及时到场造成损失的责任承担等内容。检验费用由货主承担，由指定交割仓库负责转交。

第一百九十四条 铁矿石抽样应当在入库堆垛时的铁矿石流中进行。

第一百九十五条 铁矿石收发重量以指定交割仓库检重为准，检重时以地磅、轨道衡、水尺或其他买卖双方认可的计量方式为准。指定交割仓库根据交易所指定的质量检验机构出具的铁矿石水分检验结果，按照干基对重量进行折算，并以此作为出具标准仓单的依据。

第一百九十六条 交易所指定的质量检验机构完成铁矿石质量检验后，应当出具检验报告正本一份，副本三份，并将正本提交指定交割仓库，向交易所和货主分别提交副本一份。

第一百九十七条 指定交割仓库应当按照交易所有关规定对入库铁矿石的质量等相关材料和凭证进行验收。

第一百九十八条 铁矿石标准仓单在每年的3月份最后1个交易日之前应当进行标准仓单注销。

第一百九十九条 铁矿石从仓库出库时，持有《提货通知单》或者提货密码的货主应当在实际提货日3个自然日前与指定交割仓库联系有关出库事宜，并在标准仓单注销日后10个工作日内（含当日）到指定交割仓库提货。

第二百条 铁矿石出库时，指定交割仓库应当向货主出具由指定交割仓库检验的水分实测结果，并出示仓单注册时的质量检验报告。

指定交割仓库按照水分实测结果和《大连商品交易所铁矿石交割质量标准（F/DCE I001-2017）》规定，折算成出库重量后足量发货。

指定交割仓库可以依据仓单注册时的质量检验报告与客户结算质量升贴水，也可以经双方协商抽样、留样，在出库后的15个自然日内双方对铁矿石质量无异议的，依据仓单注册时的质量检验报告与客户结算质量升贴水；一方或双方对铁矿石质量有异议的，以此样品检验结果作为指定交割仓库与客户结算质量升贴水的依据。

第二百零一条 货主对指定交割仓库实测水分有争议的，应当选择指定质检机构到场检验，并以该检验结果作为出库计重依据。

货主对铁矿石质量检验结果有争议的，可以选择以下两种方式之一抽样、留样，并依据《大连商品交易所标准仓单管理办法》第五十五条规定，以该样品检验结果作为解决争议的依据：

（一）继续出库，并选择指定质检机构到场在矿石流中抽样、留样；

（二）选择指定质检机构采取开垛、倒垛等方式抽样。

质量检验费用由货主先行垫付。检验结果与指定交割仓库出示的检验结果相符，由此产生的一切费用（检验费和差旅费等）和损失由货主负担；检验结果与指定交割仓库出示的检验结果不相符，由此产生的一切费用（检验费和差旅费等）和损失由指定交割仓库负担。

第二百零二条 铁矿石从厂库出库时，货主应当在标准仓单注销日后（不含注销日）的4个自然日内（含当日）到厂库提货。厂库应当在标准仓单注销日后（不含注销日）的4个自然日内（含当日）开始发货。

厂库应当按合约要求的交割质量标准发货，并应当向货主提供对应货物的厂家质检报告原件或者由交易所指定质量检验机构或买卖双方均认可的检验机构出具的质检报告原件，作为结算质量升贴水的依据。

铁矿石出库时，厂库应当在货主的监督下进行抽样，经双方确认后将样品封存，并将样品保留至发货日后的15个自然日，作为发生质量争议时的处理依据。

第二十二章 交割费用

第三百二十一条 进行实物交割的双方应分别向交易所交纳交割手续费。

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铁矿石交割手续费为0.5元/吨。

第三百二十二条 指定交割仓库的入库、出库费用实行最高限价。

交易所将根据市场情况对各品种指定交割仓库的入库、出库最高费用标准进行不定期核定和公布。

新增指定交割仓库的入库、出库最高费用标准自交易所公布之日起实施。

第三百二十三条 指定交割仓库杂项作业服务收费实行最高限价。各指定交割仓库杂项作业服务最高收费标准由交易所制定并公布。

第三百二十四条 黄大豆1号仓储及损耗费（包括储存费、保管损耗、熏蒸费）收取标准为0.40元／吨天，5月1日至10月31日期间，每天加收0.10元／吨的高温季节储存费。

黄大豆2号仓储及损耗费收取标准由交易所公布。对于黄大豆2号厂库标准仓单，标准仓单注销日后（不含注销日）4个自然日内（含当日）按照大豆现货标准收取仓储及损耗费；标准仓单注销日后（不含注销日）4个自然日后（不含当日）分别按照豆粕和豆油现货标准收取仓储及损耗费。

豆粕仓储及损耗费（包括储存费、保管损耗、熏蒸费）收取标准为0.50元／吨天。

豆油、棕榈油仓储及损耗费（包括储存费、保管损耗）收取标准为0.90元/吨天。

玉米仓储及损耗费（包括储存费、保管损耗、熏蒸费）收取标准为0.50元／吨天，5月1日至10月31日期间，每天加收0.10元／吨的高温季节储存费。

线型低密度聚乙烯、聚氯乙烯、聚丙烯仓储费收取标准为1元/吨天。

焦炭、焦煤仓储费收取标准为1元/吨天。

铁矿石仓储费收取标准为0.5元/吨天。

鸡蛋、纤维板、胶合板仓储费，玉米淀粉仓储及损耗费收取标准由交易所公布。

第三百二十五条 从标准仓单仓储及损耗费付止日后次日起至标准仓单注销之日止，每月发生的仓储及损耗费由交易所于下月初3个交易日内向标准仓单所属会员收取，交易所收到仓储及损耗费发票后，向指定交割仓库支付仓储及损耗费。标准仓单仓储及损耗费付止日前和标准仓单注销日后次日起，发生的仓储及损耗费用由交割仓库与货主结清。线型低密度聚乙烯、聚氯乙烯、纤维板、胶合板、聚丙烯标准仓单无损耗费。

第三百二十六条 涉及集团交割仓库的交割业务，仓储及损耗费支付给分库；出入库、杂项作业费等交易所规定的相关费用，由货主同分库结算；仓储及损耗费、出入库费、杂项作业费等的发票由分库开具；质量升贴水差价款和发票由分库代收代转。

第三百二十七条 交易所可根据国家政策规定和市场情况调整以上各项费用的收费标准。交易所将及时通知会员和指定交割仓库。

第三百二十八条 指定交割仓库对交易所未作规定的收费项目参照有关行业规定的收费标准收取。

第二十三章 交割违约

第三百二十九条 具有下列行为之一的，构成交割违约：

（一）在规定期限内，卖方未能如数交付标准仓单的；

（二）在规定期限内，买方未能如数解付货款的。

第三百三十条 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按以下公式计算：

买方接到的是完税标准仓单的：买方交割违约合约数量（手）=[应交货款（元）-已交货款（元）]÷[交割结算价（元/吨）×（1-20%）+非基准交割仓库与基准交割仓库的升贴水（元/吨）]÷交易单位（吨/手）。

买方接到的是保税标准仓单的：买方交割违约合约数量（手）=[保税应交货款（元）-已交货款（元）]÷[保税交割结算价（元/吨）×（1-20%）+非基准交割仓库与基准交割仓库的升贴水（元/吨）/(1+进口增值税税率)/(1+进口关税税率)]÷交易单位（吨/手）。

买方接到的是铁矿石保税标准仓单的：买方交割违约合约数量（手）=[保税应交货款（元）-已交货款（元）]÷ [保税交割结算价（元/吨）×（1-20%）+保税升贴水（元/吨）]÷交易单位（吨/手）。

第三百三十一条 发生交割违约后，交易所于合约最后交割日（滚动交割的交收日）结算后通知违约方和相对应的守约方。违约通知通过会员服务系统随当日结算数据发送，会员服务系统一经发送，即视为已经送达。

第三百三十二条 构成交割违约的,由违约方支付违约部分合约价值20%的违约金给守约方,买卖双方终止交割。

第三百三十三条 按本细则规定出现终止交割情形时，交易所的担保责任了结。

第三百三十四条 若买卖双方都违约的，交易所按终止交割处理，并对双方分别处以违约部分合约价值5%的罚款。

第三百三十五条 会员发生部分交割违约时,违约会员所接标准仓单或所得货款可用于违约处理。

第三百三十六条 会员在实物交割环节上蓄意违约的，按《大连商品交易所违规处理办法》第二十七条规定执行。

第二十四章 附则

第三百三十七条 交易所在夜盘交易小节不办理交割及标准仓单、非标准仓单、提货单等相关业务。

第三百三十八条 违反本细则规定的，则交易所按《大连商品交易所违规处理办法》的有关规定处理。

第三百三十九条 本细则的解释权属于大连商品交易所。

第三百四十条 本办法自公布之日起实施。