1, with different definitions: deferred warehouse refers to the inventory held by the exchange for delivery, and delivery warehouse refers to the physical objects used by futures companies or other specific warehouses to deliver futures contracts for customers.

2. Different management methods: Generally, the exchange is responsible for the management of deferred warehouses, and futures companies or other specific warehouses are generally responsible for the management of delivery warehouses.

3. Different uses: the extension warehouse is mainly used to alleviate the possible physical shortage when futures contracts are delivered, while the delivery warehouse is used to store physical objects and provide delivery services for customers.

4. Different supervision methods: The exchange has strict management and supervision over the extended warehouse, including the supervision over the quantity and quality of the inventory, to ensure the fairness and legality of the transaction. The management and supervision of delivery warehouses by futures companies or other specific warehouses also need to comply with the regulations of the exchange.