Gold postponement refers to a futures trading mode in which traders can choose to deliver or postpone delivery on the contract trading day, and at the same time introduce a postponement compensation mechanism to stabilize the contradiction between supply and demand. The so-called T+D refers to the standardized contract made by Shanghai Gold Exchange, which stipulates that a certain number of subject matter will be delivered at a specific time and place in the future. This subject matter, also called the underlying asset, is the spot corresponding to the T+D contract. Its characteristics are: installment trading, traders can choose the same day delivery or indefinite extension of delivery.

There is no specific delivery time for spot deferred delivery business, which is freely declared by buyers and sellers. Once the quantity declared for delivery by buyers and sellers is not equal, it is necessary to solve this contradiction through neutral warehouse and deferred compensation mechanism, so as to smoothly realize the delivery function of spot deferred business.

Rules for determining the payment direction of deferred compensation:

According to the market situation, the liquidated damages can be positive, negative or zero. When the market is in short supply (goods are in short supply), the seller shall pay the buyer the compensation for delay. When the market supply exceeds demand (there are many goods), the buyer shall pay the delay compensation to the seller. When supply and demand are balanced, the compensation for delay is zero.

Every trading day 15: 00- 15: 30 is the time for members or customers to declare the settlement of the day, and the contents of the declaration are the settlement of the day and the number of contracts. The system announces the number of both parties in real time.