(Approved by the 5th Council of Zhengzhou Commodity Exchange on June 1, 2007)

general provisions

Article 1 In order to ensure that Zhengzhou Commodity Exchange (hereinafter referred to as the Exchange) Rapeseed oil The Rules are formulated in accordance with the Trading Rules of Zhengzhou Commodity Exchange for the normal conduct of futures delivery business and the regulation of physical delivery.

Article 2 Physical delivery refers to the process that when a futures contract expires, according to the rules and procedures of the Exchange, both parties of the transaction settle the outstanding position contract by transferring the ownership of the commodity contained in the futures contract. Physical delivery includes standard warehouse receipt delivery and futures to cash delivery.

Article 3 The physical delivery of clients shall be entrusted to members and carried out in the name of members at the Exchange, and the delivery results shall be borne by clients.

Customers who cannot deliver or receive special VAT invoices are not allowed to deliver.

Article 4 The rapeseed oil futures shall be subject to rolling delivery, and the three-day delivery method shall be adopted.

Article 5 The rapeseed oil delivery business of the Exchange shall be conducted in accordance with these Rules, and the Exchange, members, customers, the quality inspection institution designated by the Exchange (hereinafter referred to as the quality inspection institution), and the rapeseed oil delivery warehouse designated by the Exchange (hereinafter referred to as the delivery warehouse) shall abide by these Rules.

Chapter II Delivery Process

Article 6 Rolling delivery means that after the futures transaction enters the delivery month, the seller holding the delivery month contract and standard warehouse receipt can apply for delivery at the trading time from the first trading day of the delivery month to the trading day before the last trading day of the delivery month, and complete the delivery according to the procedures specified by the Exchange.

Article 7 Before entering the delivery month, customers who are not allowed to make delivery shall close their positions in the delivery month.

Since the first trading day of the delivery month, if the position of the delivery customer is not allowed to be matched, the Exchange will pay the liquidated damages at 10% of the contract value to the other party according to the settlement price for delivery on the matching day, and terminate the delivery; If both the buyer and the seller are in the above circumstances, the exchange will punish both parties and terminate the delivery according to the amount calculated in the proportion specified in this article.

Article 8 Rolling delivery process:

The first day is the pairing day.

The buyer member holding the delivery month contract and the seller member holding the standard warehouse receipt can submit the delivery application through the member service system during the trading hours from the first trading day to the last trading day of the delivery month before 14:30 p.m., and can cancel the submitted delivery application through the member service system before 14:30 p.m. of the same day; After the seller matches, the corresponding standard warehouse receipt is frozen and the corresponding trading margin is released.

Based on the number of delivery applications made by the seller members, the Exchange will first pair the buyer members who apply after the market closes on the same day, in accordance with the principle of holding the long contract of the delivery month for the longest time first. When the number of seller applications is more than the number of buyer applications, according to the excess number of seller applications, find out the buyer members who have not submitted delivery applications and match the seller members according to the position order; When the application amount of the seller member is less than the application amount of the buyer member, the application amount of the seller member shall prevail and be matched with the buyer member who applies.

Once the delivery relationship is determined, the buyer and seller shall not adjust or change it without authorization.

The second day is the notice day. The next trading day of the matching day is the notification day.

Members of both parties confirm the Delivery Notice through the member service system on the notice day. If a member does not receive the Delivery Notice or has any objection to the Delivery Notice, it shall notify the Exchange in writing before 17:00 on the notice day. If no objection is raised within the specified time, it shall be deemed as recognition of the Delivery Notice.

The third day is the delivery date. The next trading day after the notification day is the delivery day.

Before 9:00 a.m. on the delivery day, the buyer member shall transfer the outstanding payment into the account of the Exchange, and the seller member shall submit the Standard Warehouse Receipt Holding Certificate to the settlement department of the Exchange. The buyer and the seller shall go through the specific delivery and settlement procedures at the settlement department within the specified time, and the buyer member shall provide the seller member with the customer name, tax registration certificate number and other matters.

On the delivery date, the Exchange will collect the full payment for goods from the buyer member, transfer 80% of the full payment for goods to the seller member on the same day, and deliver the warehouse receipt of the seller member to the buyer member. The balance shall be settled when the buyer member confirms to receive the special VAT invoice forwarded by the seller member. The transfer of invoices and the settlement of balance must be sealed and signed by members for confirmation.

Article 9 After the closing of the market on the last trading day, the corresponding part of the trading positions held by customers of the same member with the same trading code in the delivery month shall be automatically closed by the computer, and the closing price shall be calculated according to the settlement price of the day. Other open position contracts shall all be regarded as delivery contracts, which shall be matched by the computer according to the principle of rounding the number and the least matching pairs. The Buyer and the Seller shall confirm the Delivery Notice through the member service system on the next trading day, and the delivery procedures shall be handled on the second trading day after the last trading day.

Article 10 The settlement price for delivery shall be the settlement price on the matching day of the futures contract.

Article 11 The circulation process of VAT special invoice is: the delivery seller's customer shall issue VAT special invoice to the corresponding buyer's customer, and the customer shall issue or receive VAT special invoice in its own name. The special VAT invoice shall be handed over, received and verified by the members of both parties. The Seller shall provide the Buyer with special VAT invoice within seven trading days from the delivery date (excluding that date). If the payment is delayed for one to ten days (calendar days), the seller member shall pay 0.5 ‰ of the amount of the payment for goods every day as a late fee; If the special VAT invoice has not been paid for more than ten days (Gregorian calendar day), it shall be deemed that the special VAT invoice has not been paid, and the seller member shall pay 13% of the amount of the payment for goods as liquidated damages. The overdue fine or liquidated damages shall be deducted from the balance of the payment for goods and returned to the buyer member, and the remaining part shall be returned to the seller member. If the invoice is invalid due to the wrong information provided by the buyer member, the buyer member shall be responsible for it; If the information provided by the buyer member is delayed, the time for the seller member to provide the invoice can be postponed; If the buyer member fails to provide relevant information more than seven trading days since the closing date (excluding that date), the Exchange shall transfer the remaining 20% of the payment for goods to the seller member, and the buyer shall bear the consequences.

Chapter III Delivery Unit, Grade and Premium

Article 12 The delivery unit of rapeseed oil futures contracts is 5 tons.

Article 13 The standards for delivery of rapeseed oil futures contracts shall be formulated by the Exchange in accordance with the "Rapeseed Oil for Futures Trading in Zhengzhou Commodity Exchange" (Q/ZSJ 003-2007) (see Annex II of these Rules).

1、 Benchmark deliverable, substitute and premium:

（1） Benchmark deliverable: rapeseed oil conforming to the fourth level quality indicators of the Zhengzhou Commodity Exchange Rapeseed Oil for Futures Trading (Q/ZSJ 003-2007) and the provisions of Article 14 of these Rules.

（2） Substitutes and premium: rapeseed oil that meets the quality indicators of Grade III, Grade II and Grade I specified in the Zhengzhou Commodity Exchange Futures Trading Canola Oil (Q/ZSJ 003-2007) and Article 14 of these Rules shall not be premium.

2、 See Annex I of these Rules for rapeseed oil futures contracts.

Article 14 The acid value, peroxide value, yellow 35 red color and yellow 35 red color of rapeseed oil stored in the warehouse from June 1 (inclusive) to December 1 (exclusive) of the year shall not exceed 2.3mg/g, 3.5mmol/kg and 6.0 respectively. The acid value, peroxide value, yellow 35 red color and yellow 35 red color of rapeseed oil that is warehoused from December 1 (inclusive) to June 1 (exclusive) of the next year shall not exceed 2.5mg/g, 4.0mmol/kg and 6.5 respectively.

When the goods are delivered out of the warehouse, they meet the quality index of Grade IV rapeseed oil in Zhengzhou Commodity Exchange Futures Trading Rapeseed Oil (Q/ZSJ 003-2007).

Article 15 The benchmark price of a rapeseed oil futures contract shall be the tax inclusive price of the standard deliverable of the futures contract delivered in the benchmark delivery warehouse.

Article 16 The premium and discount of the delivery warehouse shall be announced by the Exchange.

Chapter IV Delivery Fee

Article 17 The charging standards of the fees for rapeseed oil in and out of the warehouse (warehousing unloading and ship unloading fees; warehouse inspection fees; warehouse weight inspection fees; ex warehouse loading and shipping fees) shall be formulated by each delivery warehouse in May each year, announced after being approved by the Exchange, and implemented from June of that year; If no new standards are announced in the current year, the standards of the previous year will be used.

The delivery and warehousing expenses shall be borne by the seller's customer.

Article 18 The inspection fee for the whole project (excluding adulteration) of the designated quality inspection institution shall not exceed 610 yuan/sample (excluding sampling, travel and other incidental expenses);

The sub items and adulteration inspection fees of the designated quality inspection institution shall be determined by the quality inspection institution and announced after being reviewed by the Exchange.

Article 19 Standard warehouse receipt storage fee of rapeseed oil (including insurance premium and loss fee): 0.5 yuan/ton · day.

The storage fee shall be collected by the Exchange on behalf of the designated delivery warehouse from the date of registration of the standard warehouse receipt to the day before the Exchange issues the Notice of Delivery, and shall be calculated and transferred by the Exchange on a monthly basis on the first trading day at the beginning of each month; Fees other than those collected by the Exchange shall be collected by the designated delivery warehouse. The matters concerning the cancellation of warehouse receipts and the preservation of rapeseed oil for futures delivery that can no longer be carried out according to regulations shall be separately negotiated between the designated delivery warehouse and the customer, and the storage fees, insurance premiums, etc. shall be directly collected from the customer by the designated delivery warehouse, but shall not be higher than the standards specified by the Exchange.

Article 20 Both the buyer and the seller shall bear the delivery service fee of 1 yuan/ton respectively.

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