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When the exchange determines the grade of the underlying asset, it often uses domestic or international trade ( ) as the standard delivery grade.

Answer: D

The delivery grade refers to the quality grade of the underlying assets that are uniformly stipulated by the exchange and allowed to be listed and traded. When formulating the grade of the underlying asset, the exchange often uses the quality grade of the most common and widely traded standard product in domestic or international trade as the standard delivery grade.

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