1, time

Member settlement: after the end of each trading day, the exchange will settle the profits and losses, transaction fees, transaction deposits and other funds of each member. The accounting results are the basis for members to check the relevant transactions of the day and settle accounts with customers. Members can obtain the profit and loss statement, contract table, position table and fund settlement statement of members on the same day through the member service system within the specified time of each trading day.

Customer settlement: Futures brokerage companies and exchanges settle customers in the same way, that is, after the end of each trading day, they settle each customer's profit and loss, trading fees, trading margin and other funds. The transaction fee is generally not less than 3 times of the transaction fee standard stipulated in the futures contract, and the transaction margin is generally higher than the transaction margin ratio charged by the exchange by at least 3 percentage points.

2. Follow-up work

Member settlement: every day, members should obtain the settlement results provided by the exchange in time, do a good job of checking and keep them properly.

Customer settlement: the futures brokerage company issues a transaction settlement form to the customer after the market closes.

Extended data:

Organizational form

There are two organizational forms of futures settlement. One is a clearing company independent of the futures exchange, such as London, which also settles futures for three futures exchanges in London. The other is the settlement department set up in the exchange. For example, futures exchanges in Japan, the United States and other countries have their own settlement departments (hereinafter referred to as "settlement institutions").

China adopts the form of exchange with settlement institutions. The difference between an independent clearing house and the settlement institutions in the exchange is mainly reflected in the following aspects: the clearing house is independent of the exchange in terms of performance guarantee, control and settlement risk, while the internal settlement institutions in the exchange are all concentrated in the exchange.

Independent clearing houses are generally shared by banks, exchanges and other financial institutions, and the risks are relatively scattered compared with those borne by exchanges alone.

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