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Will futures be delivered in kind?
If you are a legal person customer (self-operated member, non-self-operated member must do it in its name through a futures brokerage company), and you can deliver or collect special VAT invoices, you can deliver futures, but before entering the delivery date, you should adjust your position to an integer multiple of the delivery unit specified by the exchange. If you switch from speculative position to delivery, the exchange will also limit your deliverable position, and you must close the excess position through liquidation; If the hedging position approved by the exchange is used before, it can be delivered within the approved scope, but it must also meet the relevant delivery regulations such as integer multiples of the delivery unit. If it is an individual customer (unable to deliver or receive a special VAT invoice), he must finally close his position through liquidation and cannot participate in delivery. Stock index futures also have due delivery, but this delivery is cash delivery. In addition, other delivery rules and details can be found in the delivery rules formulated by various exchanges.