1) negotiate the spot settlement price and closing price.

On the date when the buyer and the seller hope to deliver, the buyer and the seller first agree on the closing price (within the limit of futures price increase and decrease on the approval date) and the spot delivery price.

The difference between the agreed closing price and the spot settlement price shall be reasonable. The determination of the difference should consider the savings of transportation cost, storage fee and interest.

2) Sign a cash-for-cash agreement and a spot transaction agreement and report them to the Exchange for approval.

After the negotiation is successful, the buyer and the seller sign the futures cash transfer agreement (approval) form, spot transaction agreement or warehouse receipt transfer agreement, and bring the above agreements to the delivery department of the exchange to apply for cash transfer, and the exchange will conduct approval according to the above materials.

3) After receiving the Form of Futures-to-Spot Agreement (Approval) and the Agreement of Spot Trading or Warehouse Receipt Transfer, the Exchange will check, and if it meets the requirements, it will be approved the next day, and the position will be closed immediately on the day of approval 15. If it does not meet the requirements, notify the members of both parties, and the members shall notify the customers in time.

4) go through the formalities. If the warehouse receipt period is used for cashing out, on the day after the approval date, the buyer and the seller will transfer the warehouse receipt and payment to the exchange and pay the required handling fee. Where goods other than warehouse receipts are used for cash exchange, the buyer and the seller shall make spot delivery in accordance with the spot sale agreement.

5) pay taxes. If the warehouse receipt period is used for cashing, the buyer and the seller shall go through the tax formalities with the tax authorities.

If you are satisfied, please adopt it! thank you