ABC. According to the regulations of China's futures exchange, the exchange and the futures company have the right to forcibly liquidate their positions when a member or customer has one of the following circumstances: the balance of the member's settlement reserve fund is less than zero and cannot be replenished within the prescribed time limit; Customers and trading members engaged in self-operated business hold more positions than their position limits: they are punished by the exchange for compulsory liquidation due to violations; According to the emergency measures of the exchange, the liquidation shall be forced; Others should be forced to close their positions.