Design principles of egg futures delivery system. The egg futures delivery system includes delivery rules, standard warehouse receipt management measures and designated delivery warehouse management measures. These systems cover three parts: conversion rules between non-standardized spot and standardized futures, delivery and settlement in future positions and on-site management of futures commodities. The relevant system design follows the following three principles: giving consideration to spot trading habits and operability, reducing delivery costs and preventing trading and delivery risks.
The main features of the egg futures delivery system are as follows: (1) The standard warehouse receipt system is adopted and the existing futures variety delivery system is followed. (two) delivery warehouse and delivery factory warehouse in parallel, the establishment of recommended brand delivery system. (3) Take various measures to ensure the quality of the delivered goods.
Design of related clauses of eggs in delivery rules. The delivery rules stipulate the delivery quality standard, delivery place and warehouse, main delivery expenses and epidemic treatment of egg varieties, and other general terms are in accordance with the existing variety practices, so they are not repeated here.
1. delivery quality standard: the delivery rules stipulate the quality standard and quality discount of standard products and substitutes for egg contract delivery. For details, please refer to the egg delivery quality standard of Dalian Commodity Exchange.
2. Delivery place: For details, please refer to the design description of egg futures delivery place of Dalian Commodity Exchange.
3. Delivery fee: The delivery fee for egg futures mainly includes storage loss fee, storage fee/ton-day and delivery fee, including storage fee 5 yuan, loss fee 16 yuan/ton-day, storage fee 60 yuan/ton, delivery fee 1 yuan/ton and inspection fee 10 yuan/egg.
4. The delivery unit is 5 tons: Intermediate traders are the main body of China's egg trade, and 90% of the inter-provincial egg trade is completed by intermediate traders. The scale of egg traders in China is generally small, mostly around 3~5 tons/day. Due to the small stock of eggs, the delivery unit is set at 5 tons, which can meet the requirements of general traders for futures delivery.
5. Handling of delivery breach: The handling of delivery breach of egg futures is changed to default payment of 20% of the payment amount to the observant party.
6. Recommended brand delivery: The egg futures adopt the recommended brand delivery system, and the brand eggs recognized by the exchange can be delivered directly without inspection if they meet the requirements of the exchange.
7. Epidemic handling: In order to cope with the possible impact of epidemic outbreak on delivery, Egg Futures has formulated special provisions on epidemic handling according to the Law of People's Republic of China (PRC) on Animal Epidemic Prevention, and the information on epidemic situation and the identification of epidemic areas shall be subject to the information publicly released by the Ministry of Agriculture. When a delivery place is confirmed as an epidemic area, delivery warehouses and factories in the epidemic area will stop registering warehouse receipts. After the final delivery date, customers who hold warehouse receipts of delivery places in epidemic areas and customers who have completed inspection but failed to register due to the epidemic situation are allowed to postpone delivery within 5 trading days. For the delivered goods, if the delivery place is identified as an epidemic area within 3 trading days after the delivery notice is issued (before leaving the warehouse), the exchange will inspect the delivered goods. If the goods pass the inspection, they will belong to the buyer. If the goods fail to pass the inspection, the seller shall provide the buyer with exchange service at the delivery place in the non-epidemic area in accordance with the relevant provisions on exchange.
Design of related clauses of egg futures in warehouse receipt management method. For egg varieties, a delivery warehouse is set up in the constant temperature warehouse at the production and sales place to deliver the physical warehouse receipts, and a credit delivery warehouse is set up in the large laying hen farm to deliver the credit warehouse receipts. The warehouse receipt management measures have provisions on the forecast warehousing of eggs delivered by these two methods, the generation and cancellation of warehouse receipts, the delivery of goods, and the review of disputes.
The relevant provisions on the registration and cancellation of warehouse receipts shall be implemented with reference to warehouse receipts and warehouse receipts of other varieties in our hospital. The first delivery date of the egg factory warehouse was shortened to 3 days (excluding the same day). After 3 days, the delivery quality will no longer be guaranteed, and the late payment fee will be paid. If the consignor has any objection to the quality of eggs, he shall raise it on the day of delivery, and explain in writing to the exchange the quality indicators that need to be re-examined. Within two natural days of delivery, he will choose the designated quality inspection agency to be present for inspection. Other provisions are the same as those for review of warehouse delivery disputes. (The fifth knowledge of egg futures)