The members of China Financial Futures Exchange are divided into settlement members and non-settlement members-settlement members-rights-transaction settlement members-rights-comprehensive settlement members-rights-special settlement members-transaction settlement members-rights-customer settlement. China's Zhengzhou Commodity Futures Exchange, Dalian Commodity Exchange and Shanghai Futures Exchange have not adopted a hierarchical settlement system, that is, exchange members do not distinguish between settlement members and non-settlement members; Exchange members are both trading members and settlement members. Settlement institution to settlement member to settlement member to customer (settlement)