Current location - Trademark Inquiry Complete Network - Futures platform - Internationally, the settlement levels of futures trading are ( ).
Internationally, the settlement levels of futures trading are ( ).

Answer: A, B, C

Internationally, settlement institutions usually adopt a hierarchical settlement system. Futures settlement is generally divided into three levels: the first level is settlement by clearing institutions to clearing members; the second level is settlement between clearing members and non-clearing members or between clearing members and clearing member agency clients; The first level is settlement by non-clearing members for clients represented by non-clearing members.