For futures contracts in which individual customers are not allowed to hold positions in the delivery month, if individual customers do not fully close their positions on the last trading day before the delivery month, the futures company will fully close the positions of individual customers near the delivery month according to the regulations and the requirements of the exchange, and allow individuals to enter the variety contracts in the delivery month. Customers can hold and control the number of positions to enter the delivery month according to the requirements and regulations of the exchange, but whether to allow individual customers to participate in physical or cash settlement and delivery of goods depends on the specific regulations of the exchange. For example, the contract with the futures code 1405 expires in May 20 14, and individual positions are not allowed to enter May of the delivery month on the last trading day at the end of April, so individual customers must close their positions by themselves, and futures companies that do not close their positions by themselves will forcibly settle accounts on their behalf according to regulations. If there is a problem, individual customers will bear the responsibility and may be warned, punished or banned by the exchange.

The content of this article comes from People's Republic of China (PRC) Financial Code: Application Edition by China Law Publishing House.