The Regulations on the Administration of Futures Trading has corresponding provisions on this:

Article 33 The settlement of futures trading shall be organized by the futures exchange. The futures exchange shall implement the debt-free settlement system on the same day. The futures exchange shall promptly notify the members of the settlement results on the same day.

A futures company shall settle accounts with customers according to the settlement results of the futures exchange, and notify customers of the settlement results in a timely manner in the manner agreed with customers. Customers should promptly inquire about and properly handle their trading positions.

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Regulations on the Administration of Futures Trading and other relevant laws and regulations:

Article 35 The delivery of futures trading shall be organized by the futures exchange. The delivery warehouse is designated by the futures exchange. The futures exchange shall not limit the total amount of physical delivery, and shall sign an agreement with the delivery warehouse to clarify the rights and obligations of both parties.

If a member breaches the contract in futures trading, the futures exchange shall first bear the liability for breach of contract with the member's deposit; If the margin is insufficient, the futures exchange shall assume the liability for breach of contract on behalf of the risk reserve and its own funds, and thus obtain the corresponding right of recourse against the members.

Article 36 If a customer breaches a contract in futures trading, he shall bear the liability for breach of contract with the customer's deposit in advance; If the margin is insufficient, the futures company shall assume the liability for breach of contract on behalf of the risk reserve and its own funds, and thus obtain the corresponding right of recourse against customers.

Baidu Encyclopedia-Regulations on the Administration of Futures Trading