1. Spot transactions provide online settlement services for buyers and sellers, thus avoiding the "triangular debt" problem of enterprises.
Centralized bidding transactions are conducted online, and unified matching and fund settlement are conducted in the trading market to ensure the openness, fairness and impartiality of spot transactions. After the transaction is completed, the market will make payment and settlement, physical delivery and cash entry for both buyers and sellers to ensure the common interests of both buyers and sellers, thus avoiding the serious "triangular debt" problem existing in China enterprises.
2. The standardization of spot warehouse receipts put an end to "counterfeit" goods.
3. Perfect logistics distribution system to meet the settlement needs of different traders.
4. The formation of spot trading industry has played an irreplaceable role in the development of spot trade circulation in China.
Spot trading is a new thing in the field of spot circulation in China, and it is still in its infancy in China's economic life. Its advanced mode of action and unique function have aroused the general concern of the whole society.
Electronic spot trading of agricultural products, also known as long-term electronic trading of bulk agricultural products, is launched by the state to support agriculture and promote the circulation of agricultural products. It is a trading mode in which electronic spot warehouse receipts are used as trading units, and the same goods are traded in different places through computer networks to unify the market. In fact, this means that agricultural products on the market are concentrated in some warehouses. We use electronic spot warehouse receipts to represent equivalent agricultural products, such as 5000 yuan corn electronic spot warehouse receipts, which is equivalent to 5000 yuan corn with the same value. We no longer buy and sell goods directly, but use spot warehouse receipts for unified transactions, which is more convenient and timely. The trading time of each agricultural product is limited, usually six months. Ordinary investors don't need goods, they should sell their spot warehouse receipts before the delivery month 10 to get the difference. Large businesses, such as enterprises, need these goods, so they will hold spot warehouse receipts until the 10 of the delivery month. Because the price of agricultural products is mainly affected by the climate and the relationship between supply and demand, the price is easy to grasp, with certain regularity and low risk.
Normative documents related to the management of spot exchanges
Special Provisions on Commodity Spot Market Trading (for Trial Implementation)
Decree No.3 of the Ministry of Commerce No.2013
Promulgated date: 2013108; implemented date: 201401kloc-0/Promulgated by: China Securities Regulatory Commission, Ministry of Commerce of People's Bank of China.
Chapter I General Provisions
Chapter II Trading Objects and Trading Methods
Chapter III Operation Norms of Commodity Spot Market
Chapter IV Supervision and Administration
Chapter V Legal Liability
Chapter VI Supplementary Provisions
The Special Provisions on Commodity Spot Market Trading (for Trial Implementation) was deliberated and adopted at the 7th ministerial meeting of the Ministry of Commerce on August 15, 2065, and approved by the People's Bank of China and the CSRC. It is hereby promulgated and shall come into force as of 041October 65438+.
20 13 1 1.8
Chapter I General Provisions
Article 1 In order to regulate trading activities in the spot market, maintain market order, guard against market risks, protect the legitimate rights and interests of trading parties, promote the healthy development of the spot market, and accelerate the implementation of modern circulation methods, these Provisions are formulated in accordance with the relevant laws and regulations of the state and the Decision of the State Council on Cleaning up and Rectifying Various Trading Places to Effectively Prevent Financial Risks (Guo Fa [201KLOC-0/] No.38).
Article 2 Whoever engages in trading activities in the spot market of commodities within the territory of People's Republic of China (PRC) shall abide by these Provisions. Unless otherwise stipulated by the state, such provisions shall prevail.
Article 3 The term "commodity spot market" as mentioned in these Provisions refers to a legally established place or internet trading platform where buyers and sellers conduct open, regular or staged commodity spot trading activities and have supporting services such as information and logistics.
The commodity spot market operators mentioned in these Provisions (hereinafter referred to as market operators) refer to legal persons, other economic organizations and individuals who set up commodity spot markets according to law, formulate market-related business rules and regulations, and provide places and related supporting services for commodity spot trading activities.
Article 4 Commodity spot market transactions shall follow the principles of openness, fairness, impartiality, honesty and credibility.
Article 5 The Ministry of Commerce is responsible for the planning, information, statistics and other industry management of the national spot market of commodities, so as to promote the healthy development of the spot market of commodities.
The People's Bank of China is responsible for the financial supervision of commodity spot market transactions and the supervision of payment business of non-financial institutions.
Article 6 Trade associations in commodity spot markets shall formulate trade norms and standards, strengthen trade self-discipline, organize business training, establish credit files for senior managers, accept complaints and mediate disputes.
Chapter II Trading Objects and Trading Methods
Article 7 The trading objects of the commodity spot market include:
(1) Physical objects;
(2) Delivery documents such as warehouse receipts and negotiable bills of lading with physical objects as the subject matter;
(three) other counterparties stipulated by the provincial people's government according to law.
Article 8 The physical objects traded in the spot market of commodities shall conform to the laws and regulations of the state on the responsibility of quality assurance and the existing effective quality standards.
Article 9 Commodity spot market transactions can be conducted in the following ways:
(1) Agreement transactions;
(2) One-way bidding transaction;
(three) other trading methods stipulated by the provincial people's government according to law.
The term "agreement transaction" as mentioned in these Provisions refers to the transaction mode in which the buyer and the seller reach an agreement through negotiation and other means for the purpose of delivering the physical object, and stipulate immediate delivery or delivery within a certain period of time.
The term "one-way bidding transaction" as mentioned in these Provisions refers to a transaction mode in which a buyer (seller) applies to the market, the market announces the transaction object in advance, and multiple sellers (buyers) increase or decrease the price according to the regulations, and reach an agreement and conclude the transaction within the agreed trading time.
Article 10 Market operators shall not engage in trading activities prohibited by laws and regulations and the Decision of the State Council Municipality on Cleaning up and Rectifying Various Trading Places and Effectively Preventing Financial Risks, and shall not conduct standardized contract transactions by centralized trading.
The transfer and change of spot contracts shall be handled in accordance with the relevant provisions of laws and regulations.
Chapter III Operation Norms of Commodity Spot Market
Eleventh market operators shall perform the following duties:
(1) Providing trading places, facilities and related services;
(2) Establish and improve business rules and various rules and regulations on trading, delivery, settlement, warehousing, information release, risk control and market management according to the trading methods and trading objects determined in these Provisions;
(3) Other duties as prescribed by laws and regulations.
Article 12 Market operators shall disclose their operating rules and regulations. The formulation, revision and change of business rules and regulations shall be publicized in advance within a reasonable time.
Thirteenth commodity spot market should formulate emergency plans. In case of abnormal situation, effective measures should be taken in time to prevent market risks.
Fourteenth market operators should take measures such as contract restraint, systematic control and strengthening internal management to strengthen fund management.
Market operators shall not occupy or misappropriate vendors' funds in any form.
Fifteenth encourage the spot market of commodities to innovate the circulation mode and reduce the transaction cost; Build an energy-saving, environment-friendly and low-carbon market.
Sixteenth to encourage the spot market to adopt modern information technology, establish an Internet trading platform, and carry out e-commerce.
Seventeenth market operators should establish and improve the commodity information release system, publish the name, quantity, quality, specifications, origin and other related information of the traded goods, to ensure that the information is true and accurate, and shall not publish false information.
Article 18 Where modern information technology is used to carry out trading activities, market operators shall record the relevant information of commodity warehousing, trading, delivery, settlement and payment in real time, take measures to ensure the integrity and security of the relevant information, and keep it for more than five years.
Nineteenth market operators shall not tamper with or destroy relevant information and materials without authorization.
Chapter IV Supervision and Administration
Article 20 The competent commerce department of the people's government at or above the county level shall be responsible for the industry management of the commodity spot market within its administrative area, and submit the industry development plan and other specific measures in a timely manner as required.
The branches of the People's Bank of China are responsible for the supervision and management of financial institutions and payment institutions that participate in the spot market transactions of commodities within their respective jurisdictions.
The agency of the State Council futures regulatory agency is responsible for the identification of illegal futures trading activities in the commodity spot market.
Twenty-first market operators shall submit relevant business information and materials in accordance with the requirements of relevant departments.
Article 22 The competent commercial departments of the people's governments at or above the county level shall, in light of local conditions, establish and improve various work systems. When necessary, the relevant information shall be reported to the superior competent commercial department and the people's government at the same level in a timely manner.
Chapter V Legal Liability
Article 23 Where a market operator violates the provisions of Articles 11, 12, 13, 14, 17, 18, 19 and 21, the competent commercial department at or above the county level shall, jointly with relevant departments, order it to make corrections. If no correction is made within the time limit, a fine of not less than ten thousand yuan but not more than thirty thousand yuan shall be imposed.
Twenty-fourth market operators in violation of the provisions of Article 8, Article 10 and the Regulations on the Administration of Futures Trading, shall be dealt with according to law.
Twenty-fifth staff of the relevant administrative departments in the market supervision and management work, dereliction of duty, abuse of power, corruption, shall be given administrative sanctions; If a crime is constituted, criminal responsibility shall be investigated according to law.
Chapter VI Supplementary Provisions
Article 26 These Provisions shall come into force as of 20041October 2065438+ 1 day.