2. Deferred trading is a silver investment business launched by Shanghai Gold Exchange in 2004 and officially opened to individuals in 2008. The product code is AG(T+D).
3. It is characterized by: buying and selling by stages, and traders can choose to deliver on the same day or postpone delivery indefinitely.
4. The contents of T+D contract include: contract name, trading unit, quotation unit, minimum change price, maximum fluctuation limit of daily price, trading time, delivery date, delivery grade, delivery place, minimum trading margin, transaction cost, delivery method and trading code. The annexes to the T+D contract have the same legal effect as the T+D contract.
5.T+D market is the market for buying and selling T+D contracts. This kind of transaction involves producers and operators who transfer the risk of price fluctuation and venture capitalists who bear the price risk and make profits. Fair competition shall be conducted in the exchange according to law and guaranteed by the margin system.