Delayed trading refers to trading on margin. Customers can choose to deliver on the contract trading day or postpone delivery.

The delivery of deferred contracts adopts the physical delivery declaration system (referred to as delivery declaration). Extension fee = position size × settlement price of the day × extension fee rate.

The opening price of the deferred contract is the transaction price generated by the opening call auction of the contract. If the opening call auction does not produce a transaction price, the first transaction price after the call auction will be used as the opening price. The closing price is the weighted average price of the last five transactions before the contract closes. The settlement price refers to the weighted average price of a certain deferred contract's transaction price throughout the trading day based on the trading volume.

There are call auction trading rules, etc.

The benchmark delivery variety of the gold deferred delivery contract is gold ingots with a standard weight of 3 kilograms and a fineness of no less than 99.95%. Gold ingots with a standard weight of 1 kilogram and a fineness of no less than 99.99% can be delivered instead.

Advantages of deferred delivery of gold transactions

Advantages of deferred delivery of spot gold 1. Leverage effect has a high capital amplification factor and huge profits. Stocks and bank foreign exchange investments require wholly-owned trading. The investment capital is large, the profits are not much, and the return on investment is low. The gold spot deferred settlement transaction requires only 10,000 yuan investment (silver only requires 2,000 yuan) to buy and sell one hundred ounces (one ounce = 31.1035 grams). It has high leverage effect, large financing amount, small investment amount, and high return on investment. . two. With two-way investment, you can make money both when gold prices rise and fall. Most stocks can only be bought "up". When stocks fall, the market is sluggish and there is no buying or selling. For stocks that have been bought, you can only sit back and watch the changes or close the position. In gold trading, you can buy "down" or "up". You can buy or sell at any time. You can make money in both ups and downs. three. Transactions are not subject to time restrictions, and trading is convenient from Monday 8:30 to Saturday 3:30 am Beijing time (excluding international financial holidays), 24-hour trading, and no time restrictions. Trading in the stock and futures markets is conducted within specified hours during the day and closed at night. But the gold market is global, with no geographical or time restrictions. It trades 24 hours a day and night, making trading convenient and not taking any good opportunities. Four. Risks can be controlled and profits are guaranteed. Gold trading can issue profit or stop-loss trading instructions in advance. Investors can pre-set the buying and selling price to execute the transaction to prevent losses and protect profits. five. The trading is simple and the transaction is fast. Stock trading is carried out in the form of matching orders, and the transactions must be completed in turns. When the price rises, the more you buy, the more expensive it is. It is impossible to buy a large number of stocks at the same price. When it falls, it sells lower and lower, and it is even impossible to buy or sell when it reaches the daily limit or the lower limit. In gold trading, you can buy or sell several currency contracts at the same time. It is easy to buy and sell, and the transaction is completed quickly, so you will not miss any good trading opportunities. six. Gold prices are fair and difficult to manipulate. Since stock investment is subject to regional restrictions and the market is relatively small, stock prices are more susceptible to manipulation by human factors. The gold market is global and is extremely difficult to manipulate. Therefore, the gold market is fair and has low artificiality. You can boldly enter the market without being subject to human manipulation. seven. Easy to buy and sell, strong ability to cash out. Because there is 24-hour trading and no suspension system, investors can liquidate their gold orders at any time, withdraw cash or earn profits. eight. Gold trading is simple, so there is no need to choose a single gold trading due to the wide variety. After buying or selling, it is easy to observe, unlike other investments where there are too many types of trading and it is not easy to choose. You need to spend more energy paying attention to market trends and price changes.

Characteristics of gold deferred settlement transactions

1. Leverage effect, high capital amplification, huge profits. Stocks and bank foreign exchange investments require wholly-owned trading, with large investment capital and small profits. Return on investment is low. The gold spot deferred settlement transaction requires only an investment of 10,000 yuan for buying and selling one hundred ounces (one ounce = 31.1035 grams) (silver only requires 2,000 yuan), with high leverage, large financing, small investment, and high return on investment. .

2. Two-way operation, both up and down can be operated. The biggest feature of spot gold trading is the short-selling mechanism, which is incomparable to stocks, funds, and warrants. This means that you can make money even when the market is falling. The advantage of spot gold investment is that there is no hold-up. If there is no gold price drop, investors will have no chance. Investors can also make money if gold prices fall.

3. Trading hours, 24-hour trading, not afraid of market closing, global operation. Transactions are not limited by time, and buying and selling is convenient. From Monday 8:30 to Saturday 3:30 am Beijing time (excluding international financial holidays), there is 24-hour trading, and there is no time limit. Trading hours are free, which is more suitable for office workers who work during the day and trade at night.

4. Quotes are real-time. The world's most advanced webstation quotation system can reflect gold prices and related trends in the fastest and latest way.

5. The market is open. The international spot gold market is open to the world and has high transparency. The daily trading volume is around 3 trillion U.S. dollars. It is difficult for bookmakers to appear. The price trend is less affected by artificial influences. It is highly analyzable and has little overnight risk.

6.T+0 trading mode. If you buy on the same day, you can sell on the same day. When you find that the market is unfavorable, you can make a U-turn immediately to reduce losses; or when the market is good, you can close your position immediately after making a profit.

7. Unique variety.

There is no need to choose among nearly a hundred stocks like stock picking. Professional investment consultants provide long-term market analysis and operation suggestions every day.

8. Strong value preservation. Gold has been the best value-preserving commodity since ancient times and has great appreciation potential. Nowadays, the increasing inflation in the world will promote the hedging function of gold, thereby promoting gold trading.

The mechanism of gold deferred settlement trading

1. Introducing a short-selling mechanism

Spot deferred settlement trading provides a short-selling mechanism that allows investors to It can be sold in advance without physical inventory; thus, when its price falls, investors can make profits by short selling; unlike in pure spot trading, investors can only make profits when the price rises.

2. Call auction

Conduct a call auction within 15 minutes before the market opens on each trading day, of which the first 14 minutes are for placing purchase and sale orders, and the last minute is for the matching of call auctions. The opening price is generated when the market opens; the call auction adopts the principle of maximum trading volume. Untraded orders in the opening call auction will automatically participate in post-opening auction transactions. If the call auction does not produce a transaction price, the first transaction price after the call auction will be the opening price. The first transaction price is generated according to the exchange's matching principle, where the previous transaction price is the closing price of the previous trading day.

3. Down payment system

During the purchase and sale quotation process, the full amount of funds and physical objects will no longer be frozen. Instead, 12% of the quoted amount will be frozen regardless of the buying and selling direction. The trading process is T+0, and you can sell on the same day if you buy on the same day.

4. Clearing

In order to facilitate risk control, settlement is conducted daily. After the end of daily trading, the down payment that should be frozen is calculated based on the position. Based on the day's settlement price, all profits and losses of the position are calculated, and actual fund transfers occur. Profiters can withdraw profits, while losers must make up funds within the specified time.

5. Price increase and decrease limit system

In order to prevent abnormal factors from interfering with transaction prices, the exchange implements a price increase and decrease limit system based on the actual conditions of the transaction, referred to as the price increase and decrease limit system. (Down) limit, the maximum daily trading price fluctuation allowed by deferred settlement exchanges is 7%. Quotations exceeding this range are deemed invalid and cannot be completed.

6. Forced liquidation system

The forced liquidation system refers to a forceful measure in which members or customers violate regulations or their positions reach risk limits, and the exchange imposes forced liquidation on their positions. .

When the customer's margin is less than 12%, the company will notify the customer that the customer must choose to add margin or close part of the position within one trading day after receiving the call. If the customer is unable to complete the above two operations within one trading day, the company has the right to selectively liquidate the customer's position contract. The principle of liquidation is based on the maximum loss of the customer's position. After liquidation, the margin fund is greater than or equal to 12%.