The position profit and loss of precious metals spot deferred trading refers to buying and selling on margin. Traders can choose to deliver on the contract trading day or postpone delivery. At the same time, a deferred compensation fee mechanism is introduced to smooth out the contradiction between supply and demand. A futures trading model.

Different from ordinary matching trading principles, collective bidding adopts the principle of maximum trading volume. In the opening call auction, the transaction order will automatically participate in the auction transaction after the opening. If the call auction does not produce a transaction price, the first transaction price after the call auction will be the opening price. The first transaction price is generated according to the exchange's matching principle, where the previous transaction price is the closing price of the previous trading day.