The settlement price of stock index futures is the weighted average price of the transaction price in the last hour of the day according to the volume.
In order to make commodity trading and settlement business go on normally, China's settlement system stipulates that settlement must follow the following three principles: ① Pay equal attention to money and goods. That is, the seller must deliver the goods on time, and the buyer must pay according to the regulations, and must not default on the payment and refuse to pay the payment unreasonably. (2) safeguard the legitimate rights and interests of both parties. Both parties shall strictly fulfill the relevant provisions of the contract and implement the provisions of the settlement system. When organizing the settlement work, banks should proceed from the overall interests and must not take sides.
(3) the bank does not advance. Banks provide settlement services for enterprises, and are only responsible for transferring money from the payer's account to the payee's account, and cannot prepay money. When an enterprise entrusts a bank to pay, it must have sufficient funds in the bank account; When you entrust a bank to collect money, you must wait until the money arrives.
There are two ways of settlement: ① cash settlement, that is, direct cash payment. ② Transfer settlement, that is, transfer the money from the payer's account to the payee's account through the bank.
In the total amount of monetary receipts and payments handled by banks, transfer settlement accounts for more than 95%, which is the main form of monetary settlement. In cash settlement, buyers and sellers are present at the same time, and delivery and payment are made at the same time and place. The two sides pay the money and deliver the goods, and the transaction can be settled face to face, and the procedures are relatively simple.
On the other hand, transfer settlement is different. The delivery time and payment time are inconsistent, and the bank often pays after delivery. Buyers and sellers are not present at the same time, there are various transactions, and the requirements for settlement conditions are different. Therefore, various settlement methods should be formulated for transfer settlement, and different provisions should be made on the time, place and conditions of payment and the responsibilities of both parties.
Transfer settlement methods include: collection and acceptance, entrusted collection, remittance, letter of credit, limit settlement, transfer cheque, payment authorization, etc.
In accounting work, closing accounts during the year and preparing accounting statements are also called settlement, such as month-end settlement and quarter-end settlement, but year-end settlement is called final settlement.
Settlement, also known as monetary settlement, is a monetary receipt and payment behavior caused by economic activities such as commodity trading, labor supply and capital distribution between economic units under the condition of commodity economy. Settlement is divided into cash settlement, bill transfer and transfer settlement according to different payment methods.