1, the so-called spot warehouse receipt is a warehouse with unified unit regulations (exchange-owned warehouse). Futures trading refers to the sale contract. The difference is that spot warehouse receipts are spot transactions (physical transactions), while futures transactions are only contracts without physical objects at present, and can only be converted into spot warehouse receipts after the specified date.

2. The trading of spot warehouse receipts is based on futures trading, and there is no direct trading of warehouse receipts. That is to say, only when the futures commodity reaches the stipulated time limit and still holds the trading contract of the commodity, will the exchange stipulate whether to pay the full purchase price or take out all the sold commodities (goods), and all the commodities (goods) can be converted into spot warehouse receipts for trading after being inspected by the exchange (according to the quality standards of the exchange). The specific trading situation of spot warehouse receipts depends on the trading positions of various exchanges and commodities with futures due in the current month.

3. Comply with the policy requirements of China Securities Regulatory Commission. (Recommended by Jiayang International)

4. Trading in the futures market-keeping the trading list of commodities due for futures-paying the goods in full or taking out all commodities (goods)-all commodities have passed the inspection of the exchange (goods can be submitted to the exchange for inspection and warehousing in advance) and converted into spot warehouse receipts-spot warehouse receipts stipulated by the exchange (spot warehouse receipts are completed).

5. Spot warehouse receipt transactions are completed by futures commodity exchanges according to regulations, and there are no other intermediary companies. And charge a certain commodity storage management fee.