First, focus on delivery. That is, all expired contracts are delivered in one lump sum after the last trading day of the delivery month. At present, Shanghai Futures Exchange adopts centralized delivery, while Zhengzhou Commodity Exchange adopts centralized delivery for cotton, sugar and PTA futures.
Second, rolling delivery. That is, in addition to the paired delivery of all expired contracts on the last trading day of the delivery month, delivery can also be made at a specified time between the first trading day and the last trading day of the delivery month. The rolling delivery system enables traders to make delivery on the first trading day of the delivery month, and the choice of delivery time is more flexible, which can reduce storage time and delivery cost. At present, all varieties of Dalian Commodity Exchange and wheat futures of Zhengzhou Commodity Exchange can be delivered in a rolling way. Require physical delivery in the name of a member. The physical delivery of customers must be represented by members and carried out on the exchange in the name of members.