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Hazard prevention of compulsory warehouse
As a unique and extremely common phenomenon in the early stage of domestic futures development, forced liquidation has brought extremely bad influence to the market, which not only makes it difficult to play the normal function of futures, but also harms the interests of small and medium investors. The widespread phenomenon of forced liquidation became an important reason for the country to rectify the futures market later, and preventing forced liquidation also became an important content of rectifying the futures market. In the "Interim Provisions on the Management of Futures Trading" and its four supporting measures issued during the rectification period, although the forced liquidation behavior is not explicitly targeted, it is explicitly prohibited as one of the serious market manipulation behaviors. According to the market's understanding of the root causes of forced liquidation at that time, relevant parties made important amendments to the trading rules, one of which was to change the original limited delivery system into a liberalized delivery system. On the one hand, taking market manipulation as the punishment object is clearly stipulated in laws and regulations; On the one hand, revise a series of trading rules and methods to make them perfect.