Attachment 4

Comparison Table of the Amendments to the Relevant Rules

1. Comparison Table of the Amendments to the Measures for Delivery Management of Dalian Commodity Exchange

(Contents newly added are in shade; contents deleted are marked with double strikethrough; where any clause is added or deleted, the number of other clauses shall be changed in order accordingly.)

Original Articles	Amended Articles
Chapter I General Provisions	Chapter I General Provisions
Article 4	The futures Physical Delivery may be carried out through the standard warehouse receipt delivery or otherwise.	Article 4	The futures Physical Delivery may be carried out through the standard warehouse receipt delivery or otherwise.

Standard warehouse receipt delivery shall refer to the delivery method in which the seller delivers the standard warehouse receipt of the relevant commodity to the buyer to complete the physical delivery. Standard warehouse receipt delivery shall be divided into standard warehouse receipt delivery of the storage warehouse and standard warehouse receipt delivery of the factory warehouse.

Delivery methods other than the standard warehouse receipt delivery shall refer to the physical delivery methods conducted with documents other than standard warehouse receipt or by other means. Delivery methods other than the standard warehouse receipt delivery include FOT Delivery, etc. FOT Delivery shall refer to the physical delivery method where the seller loads the goods to the buyer's truck board in the FOT Delivery site designated by the Exchange to complete the physical delivery. The designated FOT Delivery site shall refer to the designated delivery site which is recognized by the Exchange to provide delivery services for the FOT Delivery.
Article 5	The futures Physical Delivery may take the form of the Exchange of Futures for Physicals Delivery, the Bill of Lading Delivery, the Rolling Delivery, the Daily Selective Delivery, the One-off Delivery and other processes prescribed by the Exchange.

The Exchange of Futures for Physicals Delivery shall be carried out in accordance with the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Clearing Management of Dalian Commodity Exchange and other detailed rules for specific future products.	Article 5	The futures Physical Delivery may take the form of the Exchange of Futures for Physicals Delivery, the Bill of Lading Delivery, the Rolling Delivery, the Daily Selective Delivery, the One-off Delivery and other processes prescribed by the Exchange.

The Exchange of Futures for Physicals Delivery shall be carried out in accordance with the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Clearing Management of Dalian Commodity Exchange and other detailed rules for specific futures products.
Chapter II Bill of Lading Delivery	Chapter II Bill of Lading Delivery
Article 8	The Bill of Lading Delivery shall refer to, during the prescribed period of the month immediately preceding the delivery month, the physical delivery of which the handover is carried out upon the initiative application by the seller and the buyer, under the matching organized by and the supervision by the Exchange and subject to the prescribed procedures.

The commodities under the Bill of Lading Delivery may be the duty-paid commodities or the bonded commodities. All the commodities under a same Bill of Lading Delivery shall be either the duty-paid commodities or the bonded commodities.

The products which may apply the Bill of Lading Delivery are stipulated by the Exchange in the detailed rules for of relevant futures products.

The delivery site therefor shall be selected from the delivery sites designated by the Exchange which will be separately published by the Exchange.	Article 8	The Bill of Lading Delivery shall refer to, during the prescribed period of the month immediately preceding the delivery month, the physical delivery of which the handover is carried out upon the initiative application by the seller and the buyer, under the matching organized by and the supervision by the Exchange and subject to the prescribed procedures.

The commodities under the Bill of Lading Delivery may be the duty-paid commodities or the bonded commodities. All the commodities under a same Bill of Lading Delivery shall be either the duty-paid commodities or the bonded commodities.

The products which may apply the Bill of Lading Delivery are stipulated by the Exchange in the detailed rules for of relevant futures products.

The delivery site therefor shall be selected from the delivery sites designated by the Exchange which will be separately published by the Exchange.
Article 9	The Bill of Lading shall refer to the physicals pickup certification issued by the seller to the buyer after the buyer completes the inspection of, and confirmation of the conformity of, such commodities and the inventory port confirms the transfer of the title to the commodities.

The contents of the Bill of Lading shall include the buyer's name, seller's name, name of the inventory port, name of the goods, quantities, quality, warehousing site, status of the goods (duty-paid commodities or bonded commodities), issuing date and otherwise. The Bill of Lading must be confirmed through sealing by the buyer, the seller and the inventory port.	Article 9	The Bill of Lading shall refer to the physicals pickup certification issued by the seller to the buyer after the buyer completes the inspection of, and confirmation of the conformity of, such commodities and the inventory port confirms the transfer of the title to the commodities.

The contents of the Bill of Lading shall include the buyer's name, seller's name, name of the inventory port, name of the goods, quantities, quality, warehousing site, status of the goods (duty-paid commodities or bonded commodities), issuing date and otherwise. The Bill of Lading must be confirmed through sealing by the buyer, the seller and the inventory port.
Article 10	The total quantities of the Bill of Lading delivery applications filed by a client, Non-Futures Company Member or Overseas Special Non-Brokerage Participant (the "OSNBP") shall not exceed its positions of the same direction.

The quantities of each Bill of Lading delivery application are specified in the detailed rules for relevant futures products.	Article 10	The total quantities of the Bill of Lading delivery applications filed by a client, Non-Futures Company Member or Overseas Special Non-Brokerage Participant (the "OSNBP") shall not exceed its positions of the same direction.

The quantities of each Bill of Lading delivery application are specified in the detailed rules for relevant futures products.
Article 11	The Bill of Lading delivery application and matching shall be subject to the following provisions:

(1)	during the period as of the tenth trading day of the month immediately preceding the delivery month through the fourteenth trading day of the month immediately preceding the delivery month, the buyer may file, through its Member and prior to the market close on each trading day, more than one intent application containing the quantities and the handover site(s); only one handover site is permitted for each application. The Exchange shall summarize the buyer's application quantities and sites after the market close on the then-current day, and publish them through the electronic warehouse receipt system, the Exchange's website or otherwise.

(2)	prior to or at 14:00 of the second trading day after the buyer files the intent application, the seller may file, through its Member and on the basis of the buyer's intent published on the preceding trading day, more than one intent application containing the quantities and the handover site(s). Such application may contain the intent buyers for reference upon matching, and each individual application may contain two (2) intent sites and two (2) intent buyers to the maximum.

(3)	the matching day shall be the day when the seller files the application. After the market close on the matching day, the Exchange shall organize the matching under the principle of the maximum delivery quantity by reference to the intent buyers and intent sites proposed by the seller. Once the matching result is determined, it may not be modified by the buyer or the seller.	Article 11	The Bill of Lading delivery application and matching shall be subject to the following provisions:

(1)	during the period as of the tenth trading day of the month immediately preceding the delivery month through the fourteenth trading day of the month immediately preceding the delivery month, the buyer may file, through its Member and prior to the market close on each trading day, more than one intent application containing the quantities and the handover site(s); only one handover site is permitted for each application. The Exchange shall summarize the buyer's application quantities and sites after the market close on the then-current day, and publish them through the electronic warehouse receipt system, the Exchange's website or otherwise.

(2)	prior to or at 14:00 of the second trading day after the buyer files the intent application, the seller may file, through its Member and on the basis of the buyer's intent published on the preceding trading day, more than one intent application containing the quantities and the handover site(s). Such application may contain the intent buyers for reference upon matching, and each individual application may contain two (2) intent sites and two (2) intent buyers to the maximum.

(3)	the matching day shall be the day when the seller files the application. After the market close on the matching day, the Exchange shall organize the matching under the principle of the maximum delivery quantity by reference to the intent buyers and intent sites proposed by the seller. Once the matching result is determined, it may not be modified by the buyer or the seller.
Article 12	After the market close on the matching day, the delivery matching positions shall be closed at the settlement price of the matching day. The delivery settlement price shall be the then-current day settlement price of the matching day. The trading margins of the buying positions shall be transformed to be the delivery advances, and the trading margins of the selling positions shall be transformed to be the delivery margins.

Upon filing an application, the client, the Non-Futures Company Member or the OSNBP shall concurrently inform the Exchange of its contact persons and their contact information. After the market close on the matching day, the Exchange shall send the matching results, the contact persons and the contact information respectively to the buyer Member and the seller Member through the electronic warehouse receipt system. The matching results will be at the same time published through the website of the Exchange and in other ways. Sending thereof shall be deemed to be completed upon sending by the system. After receipt of the matching information, the buyer and the seller shall proactively communicate with each other and negotiate the handover of the goods.	Article 12	After the market close on the matching day, the delivery matching positions shall be closed at the settlement price of the matching day. The delivery settlement price shall be the then-current day settlement price of the matching day. The trading margins of the buying positions shall be transformed to be the delivery advances, and the trading margins of the selling positions shall be transformed to be the delivery margins.

Upon filing an application, the client, the Non-Futures Company Member or the OSNBP shall concurrently inform the Exchange of its contact persons and their contact information. After the market close on the matching day, the Exchange shall send the matching results, the contact persons and the contact information respectively to the buyer Member and the seller Member through the electronic warehouse receipt system. The matching results will be at the same time published through the website of the Exchange and in other ways. Sending thereof shall be deemed to be completed upon sending by the system. After receipt of the matching information, the buyer and the seller shall proactively communicate with each other and negotiate the handover of the goods.
Article 13	The notification date shall be the third calendar day preceding the vessel arrival at the port or the inspection of the goods already at the port. In case the third calendar day does not fall on a trading day, the notification date will be the immediately preceding trading day.

The seller Member shall send the delivery site, estimated date of the goods arrival at the port, quantity, name of the vessel, Bill of Lading number, status of the goods (duty-paid commodities or bonded commodities) and otherwise to the Exchange through the electronic warehouse receipt system. After the market close on the notification date, it will be sent by the Exchange to the buyer Member through the electronic warehouse receipt system. The seller shall promptly notify the buyer in case of any change to the date of the goods arrival at the port or any other information.	Article 13	The notification date shall be the third calendar day preceding the vessel arrival at the port or the inspection of the goods already at the port. In case the third calendar day does not fall on a trading day, the notification date will be the immediately preceding trading day.

The seller Member shall send the delivery site, estimated date of the goods arrival at the port, quantity, name of the vessel, Bill of Lading number, status of the goods (duty-paid commodities or bonded commodities) and otherwise to the Exchange through the electronic warehouse receipt system. After the market close on the notification date, it will be sent by the Exchange to the buyer Member through the electronic warehouse receipt system. The seller shall promptly notify the buyer in case of any change to the date of the goods arrival at the port or any other information.
Article 14	Prior to the closing of market on the third calendar day after the notification date (in case the third calendar day does not fall on a trading day, it shall be postponed to the immediately following trading day), the buyer's delivery advances and the seller's delivery margins shall be additionally paid to reach twenty percent (20%) of the value of the matched contracts. After the market close, the transfer thereof shall be made by the Exchange from the appropriate Member's settlement reserves.	Article 14	Prior to the closing of market on the third calendar day after the notification date (in case the third calendar day does not fall on a trading day, it shall be postponed to the immediately following trading day), the buyer's delivery advances and the seller's delivery margins shall be additionally paid to reach twenty percent (20%) of the value of the matched contracts. After the market close, the transfer thereof shall be made by the Exchange from the appropriate Member's settlement reserves.
Article 15	The last notification date shall be the last but two trading day of the month immediately preceding the delivery month. In case the seller still fails to send the notification information, prior to the market close on the third calendar day after the final notification date (in case the third calendar day does not fall on a trading day, it shall be postponed to the immediately following trading day), the buyer's delivery advances and the seller's delivery margins shall be additionally paid to reach twenty percent (20%) of the value of the matched contracts. After the market close, the transfer thereof shall be made by the Exchange from the appropriate Member's settlement reserves.	Article 15	The last notification date shall be the last but two trading day of the month immediately preceding the delivery month. In case the seller still fails to send the notification information, prior to the market close on the third calendar day after the final notification date (in case the third calendar day does not fall on a trading day, it shall be postponed to the immediately following trading day), the buyer's delivery advances and the seller's delivery margins shall be additionally paid to reach twenty percent (20%) of the value of the matched contracts. After the market close, the transfer thereof shall be made by the Exchange from the appropriate Member's settlement reserves.
Article 16	The confirmation of the handover of the goods may be subject to the following procedures:

(1)	the seller notifies the buyer ten (10) hours prior to the unloading (or inspection) of the goods, and the buyer and the seller arrive at the site and supervise the receipt thereof.

(2)	the quality inspection agency engaged by the buyer shall carry out sampling during the unloading or the stacking. The inspection items shall follow the quality standards for the futures delivery. The samplings shall be kept for two (2) months. The inspection fees shall be borne by the buyer, and the other fees shall be borne by the seller.

(3)	the weighting of the goods shall be subject to the wagon balance or other weight measurement method recognized by both parties. Firstly, the weight shall be discounted as per the contract provisions on the basis of the moistures tested upon lading to have the full weight ascertained; and the conclusive basis shall be the moisture test result issued by the quality inspection agency upon the handover of the goods; and more or less of three percent (3%) shall be permitted. Rounding off shall be made to have an integer upon discounting.

Example: If the weight of the dry basis to be handed over is ten thousand (10,000) tons, the moisture test result is 6% upon lading and 8% upon unlading, then the full weight upon unlading shall be 10,000÷(1-6%)=10638 tons; and if the actual weight upon unlading is a tons, then the finally actual handed over weight shall be a×(1-8%) tons, and the more or less shall be [a×(1-8%)-10,000] tons.

(4)	on the very day when the unloading is completed, the seller shall fill in the handover details through the electronic warehouse receipt system on the basis of the weight note issued by the port, which shall be confirmed by the buyer on the then-current day, and the Exchange shall otherwise deem that the buyer has no objection in case of any delay.

In case the subject matters to be handed over are duty-paid commodities, the buyer, the seller and the port shall confirm matters regarding the handover of the goods after the buyer completes the quality inspection and the seller completes the customs clearance; or in case the subject matters to be handed over are bonded commodities, the buyer, the seller and the port shall confirm matters regarding the handover of the goods after the buyer completes the quality inspection. After confirmation thereof, the seller Member shall fill in the Handover Confirmation Notification through the electronic warehouse receipt system no later than 14:00 of the immediately following trading day, the buyer Member shall complete the confirmation thereof prior to or at 14:30 on the day when the seller fills in the Handover Confirmation Notification, and the Exchange shall otherwise deem that the buyer has no objection in case of any delay. At the same time, the buyer shall submit the effective Bill of Lading to the Exchange through facsimile or any other written form, with the original to be kept by the client, the Non-Futures Company Member or the OSNBP for future reference.

In case the subject matters to be handed over are bonded commodities, and if the buyer needs to handle the import customs clearance, the buyer shall, within ten (10) working days (inclusive of the tenth working day) after the issuance date of the Bonded Delivery Settlement Statement (for customs clearance use only), hold the Bonded Delivery Settlement Statement (for customs clearance use only) to handle the import customs clearance formalities according to the applicable provisions of the customs.	Article 16	The confirmation of the handover of the goods may be subject to the following procedures:

(1)	the seller notifies the buyer ten (10) hours prior to the unloading (or inspection) of the goods, and the buyer and the seller arrive at the site and supervise the receipt thereof.

(2)	the quality inspection agency engaged by the buyer shall carry out sampling during the unloading or the stacking. The inspection items shall follow the quality standards for the futures delivery. The samplings shall be kept for two (2) months. The inspection fees shall be borne by the buyer, and the other fees shall be borne by the seller.

(3)	the weighting of the goods shall be subject to the wagon balance or other weight measurement method recognized by both parties. Firstly, the weight shall be discounted as per the contract provisions on the basis of the moistures tested upon lading to have the full weight ascertained; and the conclusive basis shall be the moisture test result issued by the quality inspection agency upon the handover of the goods; and more or less of three percent (3%) shall be permitted. Rounding off shall be made to have an integer upon discounting.

Example: If the weight of the dry basis to be handed over is ten thousand (10,000) tons, the moisture test result is 6% upon lading and 8% upon unlading, then the full weight upon unlading shall be 10,000÷(1-6%)=10638 tons; and if the actual weight upon unlading is a tons, then the finally actual handed over weight shall be a×(1-8%) tons, and the more or less shall be [a×(1-8%)-10,000] tons.

(4)	on the very day when the unloading is completed, the seller shall fill in the handover details through the electronic warehouse receipt system on the basis of the weight note issued by the port, which shall be confirmed by the buyer on the then-current day, and the Exchange shall otherwise deem that the buyer has no objection in case of any delay.

In case the subject matters to be handed over are duty-paid commodities, the buyer, the seller and the port shall confirm matters regarding the handover of the goods after the buyer completes the quality inspection and the seller completes the customs clearance; or in case the subject matters to be handed over are bonded commodities, the buyer, the seller and the port shall confirm matters regarding the handover of the goods after the buyer completes the quality inspection. After confirmation thereof, the seller Member shall fill in the Handover Confirmation Notification through the electronic warehouse receipt system no later than 14:00 of the immediately following trading day, the buyer Member shall complete the confirmation thereof prior to or at 14:30 on the day when the seller fills in the Handover Confirmation Notification, and the Exchange shall otherwise deem that the buyer has no objection in case of any delay. At the same time, the buyer shall submit the effective Bill of Lading to the Exchange through facsimile or any other written form, with the original to be kept by the client, the Non-Futures Company Member or the OSNBP for future reference.

In case the subject matters to be handed over are bonded commodities, and if the buyer needs to handle the import customs clearance, the buyer shall, within ten (10) working days (inclusive of the tenth working day) after the issuance date of the Bonded Delivery Settlement Statement (for customs clearance use only), hold the Bonded Delivery Settlement Statement (for customs clearance use only) to handle the import customs clearance formalities according to the applicable provisions of the customs.
Article 17	In case the buyer and the seller do not carry out the handover confirmation pursuant to the above procedures, they shall fill in the Handover Confirmation Notification through the electronic warehouse receipt system prior to or at 14:00 on the then-current day of confirmation, and at the same time, shall execute and submit the Quality and Quantity Confirmation Letter for the Handed Over Goods (the Quality and Quantity Confirmation Letter for the Handed Over Goods is detailed in the detailed rules for the of relevant futures products) to the Exchange through facsimile or any other written form; the Exchange will not accept any application of any dispute arising out of or in connection with the handed over quality and/or quantity; and the original shall be submitted to the Exchange within three (3) working days.	Article 17	In case the buyer and the seller do not carry out the handover confirmation pursuant to the above procedures, they shall fill in the Handover Confirmation Notification through the electronic warehouse receipt system prior to or at 14:00 on the then-current day of confirmation, and at the same time, shall execute and submit the Quality and Quantity Confirmation Letter for the Handed Over Goods (the Quality and Quantity Confirmation Letter for the Handed Over Goods is detailed in the detailed rules for the of relevant futures products) to the Exchange through facsimile or any other written form; the Exchange will not accept any application of any dispute arising out of or in connection with the handed over quality and/or quantity; and the original shall be submitted to the Exchange within three (3) working days.
Article 18	After the market close on the then-current day of receipt of the Handover Confirmation Notification, the Exchange shall send to the buyer Member an additional payment notice (inclusive of the more or less amounts and the discount and/or premium) through the Member service system. The payments of the duty-paid commodities shall be calculated on the basis of the delivery settlement price. The payments of the bonded commodities shall be calculated on the basis of the delivery settlement price after deduction of the import VAT, import duty, consumption tax and other tax; and the discount and/or premium of the bonded commodities shall be the bonded discount and/or premium which is calculated on the basis of the discount and/or premium after deduction of the import VAT, import duty, consumption tax and other tax.

Bonded Delivery settlement price = [(the delivery settlement price - the relevant fees) / (1 + the import VAT rate) - the consumption tax] / (1 + the import duty rate)

The bonded premiums/premiums = the premiums or discounts /(1+the import VAT rate) /(1+the import duty rate)

The "relevant fees" in paragraph 2 of this Article shall include the fees and expenses related to the customs clearance, quarantine inspection and agency services of the commodities import and it shall be separately published by the Exchange; the formula shall be applicable to the futures products against which the consumption tax is collected on the basis of their quantity and the customs duty is collected on the basis of their prices, and the calculation formula of the Bonded Delivery settlement price of the other products shall be separately determined by the Exchange.	Article 18	After the market close on the then-current day of receipt of the Handover Confirmation Notification, the Exchange shall send to the buyer Member an additional payment notice (inclusive of the more or less amounts and the discount and/or premium) through the Member service system. The payments of the duty-paid commodities shall be calculated on the basis of the delivery settlement price. The payments of the bonded commodities shall be calculated on the basis of the delivery settlement price after deduction of the import VAT, import duty, consumption tax and other tax; and the discount and/or premium of the bonded commodities shall be the bonded discount and/or premium which is calculated on the basis of the discount and/or premium after deduction of the import VAT, import duty, consumption tax and other tax.

Bonded Delivery settlement price = [(the delivery settlement price - the relevant fees) / (1 + the import VAT rate) - the consumption tax] / (1 + the import duty rate)

The bonded premiums/premiums = the premiums or discounts /(1+the import VAT rate) /(1+the import duty rate)

The "relevant fees" in paragraph 2 of this Article shall include the fees and expenses related to the customs clearance, quarantine inspection and agency services of the commodities import and it shall be separately published by the Exchange; the formula shall be applicable to the futures products against which the consumption tax is collected on the basis of their quantity and the customs duty is collected on the basis of their prices, and the calculation formula of the Bonded Delivery settlement price of the other products shall be separately determined by the Exchange.
Article 19	The handover day shall be the day immediately following the date when the Exchange receives the Handover Confirmation Notification.

Prior to the market close on the handover day, the buyer Member shall transfer to the Exchange's special settlement account the difference between the payments of the delivery buying positions (inclusive of the more or less amounts and the discount and/or premium) and the delivery advances. In case the subject matters to be handed over are bonded commodities, the seller Member shall deliver to the Exchange the VAT common invoice. After the market close, in case the subject matters to be handed over are duty paid commodities, the Exchange shall release the seller's delivery margin, and pay eighty percent (80%) of the payments to the seller, and the remaining payments shall be fully settled after the seller submits the VAT special invoice. In case the subject matters to be handed over are bonded commodities, the Exchange shall release the seller's delivery margin, and pay the bonded payments to the seller.

In case the subject matters to be handed over are duty paid commodities, the invoices and other documents, vouchers and/or receipts acceptable by the Exchange shall be issued by the seller of delivery to the corresponding buyer, and shall be forwarded and obtained by, and confirmed with assistance from, the Members of the parties.

In case the subject matters to be handed over are bonded commodities, the domestic seller client shall issue to the seller Member the VAT common invoice, and the overseas seller client, the OSP or the Overseas Intermediary shall issue to the seller Member the corresponding certificate of receipt. The seller Member shall issue to the Exchange the VAT common invoice. The Exchange shall issue to the buyer Member the VAT common invoice. The buyer Member shall issue to the buyer client, the OSP or the Overseas Intermediary the VAT common invoice.	Article 19	The handover day shall be the day immediately following the date when the Exchange receives the Handover Confirmation Notification.

Prior to the market close on the handover day, the buyer Member shall transfer to the Exchange's special settlement account the difference between the payments of the delivery buying positions (inclusive of the more or less amounts and the discount and/or premium) and the delivery advances. In case the subject matters to be handed over are bonded commodities, the seller Member shall deliver to the Exchange the VAT common invoice. After the market close, in case the subject matters to be handed over are duty paid commodities, the Exchange shall release the seller's delivery margin, and pay eighty percent (80%) of the payments to the seller, and the remaining payments shall be fully settled after the seller submits the VAT special invoice. In case the subject matters to be handed over are bonded commodities, the Exchange shall release the seller's delivery margin, and pay the bonded payments to the seller.

In case the subject matters to be handed over are duty paid commodities, the invoices and other documents, vouchers and/or receipts acceptable by the Exchange shall be issued by the seller of delivery to the corresponding buyer, and shall be forwarded and obtained by, and confirmed with assistance from, the Members of the parties.

In case the subject matters to be handed over are bonded commodities, the domestic seller client shall issue to the seller Member the VAT common invoice, and the overseas seller client, the OSP or the Overseas Intermediary shall issue to the seller Member the corresponding certificate of receipt. The seller Member shall issue to the Exchange the VAT common invoice. The Exchange shall issue to the buyer Member the VAT common invoice. The buyer Member shall issue to the buyer client, the OSP or the Overseas Intermediary the VAT common invoice.
Article 20	The buyer shall, within seven (7) working days as of the date immediately following the completed sampling but prior to the trading date immediately prior to the last trading day, submit the quality inspection report respectively to the Exchange and the seller; the buyer Member shall fill in through the electronic warehouse receipt system the quality inspection information of the commodities to be handed over, and the seller shall confirm the inspection result prior to the market close of the trading day immediately following the day when the buyer fills in the quality inspection information.

The seller which has any objection to the inspection result issued by the buyer shall file an application for re-inspection to the Exchange prior to the market close of the trading day immediately following the day when the buyer submits the inspection report. The Exchange shall choose a re-inspection agency from the designated quality inspection agencies, and the re-inspection result with respect to the sealed samplings upon unlading shall be the basis for settlement of the dispute. It shall be deemed that there is no objection thereto in case of no application within the said period.

In case of any dispute proposed by the seller, the re-inspection fees shall be pre-paid by the seller; the fees and expenses arising out thereof or in connection therewith (including the inspection fees, the travel expenses and otherwise) shall be borne by the seller if the difference between the re-inspection result and the former inspection result falls within the reasonable deviations described in the applicable standards, otherwise the fees shall be borne by the buyer.	Article 20	The buyer shall, within seven (7) working days as of the date immediately following the completed sampling but prior to the trading date immediately prior to the last trading day, submit the quality inspection report respectively to the Exchange and the seller; the buyer Member shall fill in through the electronic warehouse receipt system the quality inspection information of the commodities to be handed over, and the seller shall confirm the inspection result prior to the market close of the trading day immediately following the day when the buyer fills in the quality inspection information.

The seller which has any objection to the inspection result issued by the buyer shall file an application for re-inspection to the Exchange prior to the market close of the trading day immediately following the day when the buyer submits the inspection report. The Exchange shall choose a re-inspection agency from the designated quality inspection agencies, and the re-inspection result with respect to the sealed samplings upon unlading shall be the basis for settlement of the dispute. It shall be deemed that there is no objection thereto in case of no application within the said period.

In case of any dispute proposed by the seller, the re-inspection fees shall be pre-paid by the seller; the fees and expenses arising out thereof or in connection therewith (including the inspection fees, the travel expenses and otherwise) shall be borne by the seller if the difference between the re-inspection result and the former inspection result falls within the reasonable deviations described in the applicable standards, otherwise the fees shall be borne by the buyer.
Article 21	In case the subject matters to be handed over are bonded commodities, the Exchange shall issue to the seller the Bonded Delivery Settlement Statement (for tax use only and for accounting use only) and issue to the buyer the Bonded Delivery Settlement Statement (for accounting use only), as the documents for tax declaration; or in case there is the need for customs clearance for import, the Exchange shall issue to the buyer the Bonded Delivery Settlement Statement (for customs clearance use only), as the document for the buyer to handle the customs clearance for import. In addition to the price information, the Bonded Delivery Settlement Statement shall contain the name of the warehouse, actual quantity, delivery time, delivery method (in the column of which the "Bill of Lading Delivery" shall be noted), the bonded premiums/discounts and other information.	Article 21	In case the subject matters to be handed over are bonded commodities, the Exchange shall issue to the seller the Bonded Delivery Settlement Statement (for tax use only and for accounting use only) and issue to the buyer the Bonded Delivery Settlement Statement (for accounting use only), as the documents for tax declaration; or in case there is the need for customs clearance for import, the Exchange shall issue to the buyer the Bonded Delivery Settlement Statement (for customs clearance use only), as the document for the buyer to handle the customs clearance for import. In addition to the price information, the Bonded Delivery Settlement Statement shall contain the name of the warehouse, actual quantity, delivery time, delivery method (in the column of which the "Bill of Lading Delivery" shall be noted), the bonded premiums/discounts and other information.
Article 22	In case no Handover Confirmation Notification is received by the Exchange prior to the market close of the last trading day, handling shall be carried out by the Exchange after the market close subject to the following provisions on the basis of the different circumstances:

(1)	in case the handover confirmation fails to be completed between the parties as scheduled due to any reason attributable to the buyer, a punitive penalty shall be imposed by the Exchange against the buyer of twenty percent (20%) of the contract value calculated at the buyer's delivery settlement price, which shall be paid to the seller; and the delivery margins shall be refunded to the seller; and the delivery shall terminate.

(2)	in case the handover confirmation fails to be completed between the parties as scheduled due to any reason attributable to the weather, overstock at the port or any other reason, the seller shall notify the Exchange on the very day when the postponement occurs, and the Exchange shall confirm the final handover time on the basis of the actual situation.

(3)	in case the handover confirmation fails to be completed between the parties as scheduled due to any reason other than the weather conditions, a punitive penalty shall be imposed by the Exchange against the seller of twenty percent (20%) of the contract value calculated at the seller's delivery settlement price, which shall be paid to the buyer; and the delivery advances shall be refunded to the buyer; and the delivery shall terminate.

(4)	in case the handover confirmation fails to be completed between the parties as scheduled due to any quality inspection dispute, and if the re-inspection result satisfies the Delivery Quality Standards of Dalian Commodity Exchange, the delivery shall continue; and if it fails to satisfy so, a punitive penalty shall be imposed against the seller of twenty percent (20%) of the contract value calculated at the seller's delivery settlement price, which shall be paid to the buyer; and the delivery advances shall be refunded to the buyer; and the delivery shall terminate.	Article 22	In case no Handover Confirmation Notification is received by the Exchange prior to the market close of the last trading day, handling shall be carried out by the Exchange after the market close subject to the following provisions on the basis of the different circumstances:

(1)	in case the handover confirmation fails to be completed between the parties as scheduled due to any reason attributable to the buyer, a punitive penalty shall be imposed by the Exchange against the buyer of twenty percent (20%) of the contract value calculated at the buyer's delivery settlement price, which shall be paid to the seller; and the delivery margins shall be refunded to the seller; and the delivery shall terminate.

(2)	in case the handover confirmation fails to be completed between the parties as scheduled due to any reason attributable to the weather, overstock at the port or any other reason, the seller shall notify the Exchange on the very day when the postponement occurs, and the Exchange shall confirm the final handover time on the basis of the actual situation.

(3)	in case the handover confirmation fails to be completed between the parties as scheduled due to any reason other than the weather conditions, a punitive penalty shall be imposed by the Exchange against the seller of twenty percent (20%) of the contract value calculated at the seller's delivery settlement price, which shall be paid to the buyer; and the delivery advances shall be refunded to the buyer; and the delivery shall terminate.

(4)	in case the handover confirmation fails to be completed between the parties as scheduled due to any quality inspection dispute, and if the re-inspection result satisfies the Delivery Quality Standards of Dalian Commodity Exchange, the delivery shall continue; and if it fails to satisfy so, a punitive penalty shall be imposed against the seller of twenty percent (20%) of the contract value calculated at the seller's delivery settlement price, which shall be paid to the buyer; and the delivery advances shall be refunded to the buyer; and the delivery shall terminate.
Article 23	The Bill of Lading Delivery Default shall refer to, during the prescribed period, the buyer's failure to fully pay the payments or the seller's failure to fully deliver at the prescribed site the commodities which satisfy the futures delivery quality standards.

In case the buyer commits a delivery default, a punitive penalty shall be imposed by the Exchange against the buyer of twenty percent (20%) of the contract value of the default portions calculated at the buyer's delivery settlement price, which shall be paid to the seller; and the seller's delivery margins shall be released; and the delivery shall terminate.

The calculation formula for the buyer's delivery default contract quantity is below:

In case the subject matters to be handed over are duty-paid commodities, the buyer's delivery default contract quantity (Lot) = [payments due and payable (CNY) – payments paid (CNY)] ÷ [delivery settlement price (CNY/Ton) × (1-20%) + Discount or Premium (CNY/Ton)] ÷ trading unit (Ton/Lot).

In case the subject matters to be handed over are bonded commodities, the buyer's delivery default contract quantity (Lot) = [payments due and payable (CNY) – payments paid (CNY)] ÷ [Bonded Delivery settlement price (CNY/Ton) × (1-20%) + bonded premiums/discounts (CNY/Ton)] ÷ trading unit (Ton/Lot).

In case the seller commits a delivery default, a punitive penalty shall be imposed by the Exchange against the seller of twenty percent (20%) of the contract value of the default portions calculated at the seller's delivery settlement price, which shall be paid to the buyer; and the buyer's payments shall be released; and the delivery shall terminate.

Contract quantity for the portions insufficiently delivered by the seller (Lot) = [weight of the commodities which should have been delivered (Tons) – weight delivered (Tons)] ÷ trading unit (Ton/Lot).

In case both the buyer and the seller commit the default, a fine shall be imposed by the Exchange respectively against the buyer and the seller at five percent (5%) of the contract value of the default portions calculated at the delivery settlement price.	Article 23	The Bill of Lading Delivery Default shall refer to, during the prescribed period, the buyer's failure to fully pay the payments or the seller's failure to fully deliver at the prescribed site the commodities which satisfy the futures delivery quality standards.

In case the buyer commits a delivery default, a punitive penalty shall be imposed by the Exchange against the buyer of twenty percent (20%) of the contract value of the default portions calculated at the buyer's delivery settlement price, which shall be paid to the seller; and the seller's delivery margins shall be released; and the delivery shall terminate.

The calculation formula for the buyer's delivery default contract quantity is below:

In case the subject matters to be handed over are duty-paid commodities, the buyer's delivery default contract quantity (Lot) = [payments due and payable (CNY) – payments paid (CNY)] ÷ [delivery settlement price (CNY/Ton) × (1-20%) + Discount or Premium (CNY/Ton)] ÷ trading unit (Ton/Lot).

In case the subject matters to be handed over are bonded commodities, the buyer's delivery default contract quantity (Lot) = [payments due and payable (CNY) – payments paid (CNY)] ÷ [Bonded Delivery settlement price (CNY/Ton) × (1-20%) + bonded premiums/discounts (CNY/Ton)] ÷ trading unit (Ton/Lot).

In case the seller commits a delivery default, a punitive penalty shall be imposed by the Exchange against the seller of twenty percent (20%) of the contract value of the default portions calculated at the seller's delivery settlement price, which shall be paid to the buyer; and the buyer's payments shall be released; and the delivery shall terminate.

Contract quantity for the portions insufficiently delivered by the seller (Lot) = [weight of the commodities which should have been delivered (Tons) – weight delivered (Tons)] ÷ trading unit (Ton/Lot).

In case both the buyer and the seller commit the default, a fine shall be imposed by the Exchange respectively against the buyer and the seller at five percent (5%) of the contract value of the default portions calculated at the delivery settlement price.
Chapter III Rolling Delivery	Chapter IIIII Rolling Delivery
Article 24	The products applying the Rolling Delivery are stipulated by the Exchange in the detailed rules of relevant futures products.	Article 248	The products applying the Rolling Delivery are stipulated by the Exchange in the detailed rules of relevant futures products.
Article 25	The Rolling Delivery shall refer to, with respect to a contract from the first trading day of the delivery month to the trading day immediately preceding the last trading day, the method of delivery that the delivery is completed within the prescribed period by the parties as organized by the Exchange on the basis of the initiative proposal thereof by the seller client which holds standard warehouse receipts (except those that have been frozen, same below) and the net positions of selling positions in the delivery month.

The delivery settlement price of the Rolling Delivery shall be the then-current day settlement price of the matching day of the Rolling Delivery of such futures contract.	Article 259	The Rolling Delivery shall refer to, with respect to a contract from the first trading day of the delivery month to the trading day immediately preceding the last trading day, the method of delivery that the delivery is completed within the prescribed period by the seller party and the buyer party parties as organized by the Exchange on the basis of the initiative proposal thereof of application for standard warehouse receipt delivery or application for FOT Delivery by the seller client which holds standard warehouse receipts (except those that have been frozen, same below) and the net positions of selling positions in the delivery month.

The delivery settlement price of the Rolling Delivery shall be the then-current day settlement price of the matching day of the Rolling Delivery of such futures contract.
Article 26	The Rolling Delivery shall be handled by the Member on behalf of the client which files the application for delivery. The clients holding the prohibited delivery positions may not file the Rolling Delivery applications.	Article 2610	The Rolling Delivery shall be handled by the Member on behalf of the client which files the application for delivery. The clients holding the prohibited delivery positions may not file the Rolling Delivery applications.
Article 27	The first day of the Rolling Delivery process shall be the matching day.

(1)	the seller declares the delivery. During the delivery month, the client which holds both standard warehouse receipts and the net positions of selling positions in the delivery month may file, through the Member, an application for delivery, and the Member may declare the delivery to the Exchange as of the first trading day of the delivery month but prior to the market close of the trading day immediately preceding the last trading day thereof. The positions and warehouse receipts corresponding to the proposed delivery application will be frozen, and the trading margins corresponding to its selling positions will not be re-collected. With regard to the product of No. 2 soybean, delivery declaration shall only be carried out with standard factory warehouse receipts; and

(2)	the buyer declares the intent. The buyer which holds the net positions of buying positions in the delivery month may declare the delivery intent to the Exchange as of the first trading day of the delivery month but prior to the market close of the trading day immediately preceding the last trading day thereof.

Where the detailed rules of iron ore, liquefied petroleum gas or other futures products stipulate otherwise in respect of the seller's declaration of delivery and the buyer's declaration of intent on the Rolling Delivery matching day, such stipulation shall prevail.	Article 2711	The first day of the Rolling Delivery process shall be the matching day.

(1)	the seller declares the delivery. During the delivery month, the seller client which holds both standard warehouse receipts and the net positions of selling positions in the delivery month may file, through the Member, an application for delivery whose quantity shall not exceed its net selling position quantity, and the Member may declare the delivery to the Exchange prior to 11: 30 on each trading day as of the first trading day of the delivery month but prior to the market close of the trading day immediately preceding the last trading day thereof. Among others, if standard warehouse receipt delivery is adopted, Tthe positions and corresponding standard warehouse receipts corresponding to after the proposed delivery application will shall be frozen, and the trading margins corresponding to its selling positions will not be re-collected. If FOT Delivery is adopted, the delivery application shall contain the corresponding designated FOT Delivery site and delivery quantity (unit: lot). The Exchange shall review the above applications and publish the approved delivery applications of the sellers after 13:30 on each trading day. The published delivery applications shall not be revoked and are only valid on the then-current day. With regard to the product of For No. 2 soybean, delivery declaration shall only be carried out with standard factory warehouse receipts;.

In the event that the net selling positions held by the seller client are less than the declared and approved positions of the seller client in the delivery matching, the Exchange will prohibit the client from seller declaration of Rolling Delivery on such product for one year from the date of this declaration; and

(2)	the buyer declares the intent. The buyer which holds the net positions of buying positions in the delivery month may, based on the seller delivery applications published by the Exchange, declare the two delivery intents to the Exchange as of the first trading day of the delivery month but prior to the market close of the trading day immediately preceding the last trading day thereof, including the first intent and the second intent, and the intent priority orders are as below: (i) with respect to any buyer, its first intent shall be firstly considered, and in case the first intent is not satisfied or not fully satisfied, the second intent shall then be considered; and (ii) with respect to any designated delivery warehouse or designated FOT Delivery site, its first-intent buyers shall be firstly considered, and in case there are remaining standard warehouse receipt delivery or FOT Delivery intents, its second-intent buyers shall then be considered. The delivery intents are only valid on the then-current day.

Where the detailed rules of iron ore, liquefied petroleum gas or other futures products stipulate otherwise in respect of the seller's declaration of delivery and the buyer's declaration of intent on the Rolling Delivery matching day, such stipulation shall prevail.
Article 28	After the market close on the matching day, the Exchange shall determine, through the system and under the principle of "priority in declaration intent and in positions containing the earliest position-opening time", the buyer's positions which participate in the matching. The positions in the corresponding part of the buying and selling positions of the same client number do not participate in such matching.

With respect to the chosen buyer and the chosen seller, the Exchange shall summarize, on the basis of taking the warehouse as the unit, the quantities of the warehouse receipts declared by the seller for delivery, carry out the matching between the buyer and the warehouses under the principle of "the minimum matching quantity" and determine the warehouses corresponding to the buyer's delivery and the quantities to be delivered in such warehouses; and then, the Exchange shall carry out matching under the principle of "the minimum matching quantity" between the buyer with the matched warehouses and the seller which applies for delivery and holds the warehouse receipts of such warehouses, and determine the buyer and the seller corresponding to the delivery. Once the matching result is determined, it may not be modified by the buyer or the seller.

For standard warehouse receipts of group delivery warehouses, delivery intents shall be declared in the unit of sub-warehouse for delivery matching.

Where the detailed rules of iron ore, fiberboard, liquefied petroleum gas or other futures products stipulate otherwise in respect of the matching scope, matching principle and method of the Rolling Delivery, such stipulation shall prevail.	Article 2812	After the market close on the matching day, the Exchange shall determine, carry out the delivery matching through the system and under the principle of "priority in declaration intent and in positions containing the earliest position-opening time", the buyer's positions which participate in the matching. The positions in the corresponding part of the buying and selling positions of the same client number do not participate in such matching. as per the following principles and steps:

The first step: collecting standard warehouse receipt delivery and FOT Delivery intents. The Exchange shall collect sellers' standard warehouse receipt delivery and FOT Delivery intents by taking the designated delivery warehouse and designated FOT Delivery site as the units.

The second step: matching the buyer and the designated delivery warehouse or designated FOT Delivery site. With respect to each designated delivery warehouse or designated FOT Delivery site, in case the aggregate position quantity of the buyers which propose the delivery intents is less than or equal to the relevant standard warehouse receipt delivery or FOT Delivery intents, all intents of the buyers shall be satisfied; or in case the aggregate position quantity of the buyers which propose the delivery intents is more than the relevant standard warehouse receipt delivery or FOT Delivery intents, the buyers which will participate in the delivery matching shall be determined under the principle of "priority in the matching for overseas buyers in case of Bonded Delivery; priority in the matching for domestic buyers in case of duty-paid delivery" and "priority in the most length of the average position period".

To which, the average position period shall take "day" as the unit, which shall be the weighted average number of the period of each Lot of the positions. In case of the same lengths of average position periods, the priority shall be given to the buyer which has the earliest position. The detailed formula is:

The buyer's average position period

=

∑ period of the buyer's each Lot of position

the buyer's aggregate position quantity

For the remaining standard warehouse receipt delivery and FOT Delivery intents after satisfaction of the buyers' intents, the Exchange shall, from the position-holding buyers which have not submitted any delivery intents and those of which the delivery intents have not been satisfied, determine the domestic buyer matched with duty-paid delivery as well as the overseas buyer matched with the Bonded Delivery, respectively under the principle of "priority in positions with the earliest building time"; the Exchange shall then determine the designated delivery warehouses or designated FOT Delivery sites corresponding to the buyers' delivery and the quantities to be delivered in such designated delivery warehouses or designated FOT Delivery sites under the principle of "minimum matching quantity". The positions in the corresponding part of the buying and selling positions of the same client number do not participate in such matching.

For the remaining standard warehouse receipt delivery and FOT Delivery intents after execution of steps from the previous paragraphs, the Exchange shall determine the buyers to participate in the matching under the principle of "priority in positions with the earliest building time" from the remaining position-holding buyers; the Exchange shall then determine the designated delivery warehouses or designated FOT Delivery sites corresponding to the buyers' delivery and the quantities to be delivered in such designated delivery warehouses or designated FOT Delivery sites under the principle of "minimum matching quantity". The positions in the corresponding part of the buying and selling positions of the same client number do not participate in such matching.

The third step: matching the buyers and the sellers. The Exchange shall carry out matching between the buyers matched with the designated delivery warehouses or designated FOT Delivery sites and the sellers holding the corresponding standard warehouse receipt delivery intents or FOT Delivery intents under the principle of "minimum matching quantity" to determine the buyers and the sellers corresponding to the delivery.

With respect to the chosen buyer and the chosen seller, the Exchange shall summarize, on the basis of taking the warehouse as the unit, the quantities of the warehouse receipts declared by the seller for delivery, carry out the matching between the buyer and the warehouses under the principle of "the minimum matching quantity" and determine the warehouses corresponding to the buyer's delivery and the quantities to be delivered in such warehouses; and then, the Exchange shall carry out matching under the principle of "the minimum matching quantity" between the buyer with the matched warehouses and the seller which applies for delivery and holds the warehouse receipts of such warehouses, and determine the buyer and the seller corresponding to the delivery. Once the matching result is determined, it may not be modified by the buyer or the seller.

The term "overseas buyer" referred to in this Article excludes qualified foreign institutional investors and RMB qualified foreign institutional investors.

For standard warehouse receipts of group delivery warehouses, delivery intents shall be declared in the unit of sub-warehouse for delivery matching.

Where the detailed rules of iron ore, fiberboard, liquefied petroleum gas or other futures products stipulate otherwise in respect of the matching scope, matching principle and method of the Rolling Delivery, such stipulation shall prevail.
Article 29	After the market close on the matching day, the buyer Member's trading margins for the matched buying positions shall be transformed to be the delivery advances.	Article 2913	After the market close on the matching day, the buyer Member's trading margins for the matched buying positions shall be transformed to be the delivery advances. If standard warehouse receipt delivery is adopted, except otherwise stipulated in the detailed rules of eggs or other relevant futures products in respect of the standard warehouse receipt delivery of the storage warehouse, the trading margins of the seller Member of the matched selling positions shall be refunded; if the FOT Delivery is adopted, the trading margins of the seller Member of the matched selling positions shall be transformed to be delivery margins, and the refund of the delivery margins shall be handled in accordance with the provisions of the detailed rules of the relevant futures products.

When settling on the matching day, the Exchange shall settle the Member's positions in such delivery month at the delivery settlement price, the profits or losses arising out of which shall be calculated into the liquidation profits or losses of the then-current day; the Exchange shall deduct the delivery commissions from the settlement reserves of the Member.
Article 30	After the market close on the matching day, the matched positions shall be deducted from the position quantities of the delivery month contracts without any limitation with respect to the position limit. The Delivery Notice, the matching result and other Rolling Delivery information shall be sent together with the settlement statement of the matching day to the buyer Member and the seller Member through the Member service system; and sending thereof shall be deemed to be completed upon sending by the Member service system. The matching result and other information shall be published to the public through the relevant public media and/or information providers.	Article 3014	After the market close on the matching day, the matched positions shall be deducted from the position quantities of the delivery month contracts without any limitation with respect to the position limit. The Delivery Notice, the matching result and other Rolling Delivery information shall be sent together with the settlement statement of the matching day to the buyer Member and the seller Member through the Member service system; , the relevant information shall be notified to the corresponding designated delivery warehouses or designated FOT Delivery sites; and sending thereof shall be deemed to be completed upon sending by the Member service system. The matching result and other information shall be published to the public through the relevant public media and/or information providers.
Article 31	After the determination of the matching result, the buyer shall promptly provide to the seller the items related to issuance of the VAT special invoice, and the seller shall deliver to the buyer the VAT special invoice within seven (7) trading days after the matching day.

The delivery VAT special invoice shall be issued by the seller client of delivery to the corresponding buyer client. The VAT special invoice issued by the client shall be forwarded and obtained by, and confirmed with assistance from, the Members of the parties.

Any Member's delay or failure in submission of the VAT special invoice shall be handled according to the applicable provisions of the Measures for Clearing Management of Dalian Commodity Exchange.	Article 3115	After the determination of the matching result, the buyer shall, within one (1) trading day after the matching day, pursuant to the provisions of the tax authority, notify to the seller the specific information for issuing the invoice, including the name, address, amount, taxpayer registration number and other information of the purchasing entity. promptly provide to the seller the items related to issuance of the VAT special invoice, and the seller shall deliver to the buyer the VAT special invoice within seven (7) trading days after the matching day.

If standard warehouse receipt delivery is adopted, the seller Member shall deliver to the buyer Member the invoice within seven (7) trading days after the matching day. Where the detailed rules of eggs or other futures products stipulate otherwise in respect of the invoice delivery for standard warehouse receipt delivery of the storage warehouse, such stipulation shall prevail.

If the FOT delivery is adopted, the specific provisions on the delivery of invoice by the seller Member to the buyer Member are provided in the detailed rules of the relevant futures products.

The delivery VAT special invoice shall be issued by the seller client of delivery to the corresponding buyer client. The VAT special invoice issued by the client, and shall be forwarded and obtained by, and confirmed with assistance from, the Members of the parties.

Any Member's delay or failure in submission delivery of the VAT special invoice as specified by the Exchange shall be handled according to the applicable provisions of the Measures for Clearing Management of Dalian Commodity Exchange.
Article 32	The handover day shall be the second trading day following the matching day (exclusive). Prior to the market close on the handover day, the buyer Member must additionally pay the remaining payments corresponding to its matched delivery month contract positions and handle the delivery formalities.	Article 3216	The handover day shall be the second trading day following the matching day (exclusive). Prior to the market close on the handover day, the buyer Member must additionally pay the remaining payments corresponding to its matched delivery month contract positions and handle the delivery formalities.

If standard warehouse receipt delivery is adopted, after the market close on the handover day, the Exchange shall transfer the standard warehouse receipts delivered by the seller to the corresponding matched buyer and pay eighty percent (80%) of the payments to the seller Member. The remaining payments shall be fully settled after the seller Member delivers the invoice. Where the detailed rules of eggs or other futures products stipulate otherwise in respect of the payments for standard warehouse receipt delivery of the storage warehouse, such stipulation shall prevail.

If FOT delivery is adopted, after the market close on the handover day, the Exchange shall notify the matching result of the FOT Delivery to the corresponding designated quality inspection agency. The provisions in respect of the delivery payments made by the Exchange to the seller Member and the handover of the goods between the buyer and the seller are provided in the detailed rules of the relevant futures products.
Article 33	After the market close on the handover day, the Exchange shall allocate the seller's delivery warehouse receipts to the appropriate matched buyer.	Article 33	After the market close on the handover day, the Exchange shall allocate the seller's delivery warehouse receipts to the appropriate matched buyer.
Article 34	After the market close on the handover day, the Exchange shall issue to the buyer Member the standard warehouse receipt submitted by the seller Member, and pay eighty percent (80%) of the payments to the seller Member, and the remaining payments shall be fully settled after the seller Member submits the VAT special invoice.	Article 34	After the market close on the handover day, the Exchange shall issue to the buyer Member the standard warehouse receipt submitted by the seller Member, and pay eighty percent (80%) of the payments to the seller Member, and the remaining payments shall be fully settled after the seller Member submits the VAT special invoice.
Article 35	The Rolling Delivery Default shall refer to the buyer's failure to fully pay the payments within the prescribed period. Any delivery default shall be handled according to the applicable provisions of Chapter IIX hereof; and the default contract value shall be calculated at the settlement price of the matching day, and the delivery default shall be handled after the handover day of the Rolling Delivery.	Article 3517	The Rolling Delivery Default shall refer to the buyer's failure to fully pay the payments within the prescribed period. Any delivery default shall be handled according to the applicable provisions of Chapter IIX hereof; and the default contract value shall be calculated at the settlement price of the matching day, and the delivery default shall be handled after the handover day of the Rolling Delivery. Under the process of the Rolling Delivery, any default of the standard warehouse receipt delivery shall be handled according to the applicable provisions of Chapter VI hereof, and any default of the FOT Delivery shall be handled according to the applicable provisions of the detailed rules for the relevant futures products.
Article 36	With respect to the Rolling Delivery of Bonded Standard Warehouse Receipt, the applicable provisions of the detailed rules of the futures products adopting Bonded Delivery shall be applied.	Article 3618	With respect to the Rolling Delivery of Bonded Standard Warehouse Receipt, the applicable provisions of the detailed rules of the futures products adopting Bonded Delivery shall be applied.
Chapter IV Daily Selective Delivery	Chapter IV Daily Selective Delivery
Article 37	The products that apply the Daily Selective Delivery are stipulated by the Exchange in the detailed rules of the relevant future products.	Article 37	The products that apply the Daily Selective Delivery are stipulated by the Exchange in the detailed rules of the relevant future products.
Article 38	Daily Selective Delivery shall refer to the delivery method that the Exchange organizes the buyer and the seller to complete the delivery within the stipulated time from the first trading day in the delivery month to the trading day immediately preceding the last trading day, where the seller client who conforms to applicable provisions in the detailed rules for the relevant futures products holding net positions of selling position in the delivery month proposes actively to make standard warehouse receipt delivery or FOT Delivery application.

Daily Selective Delivery may be carried out through standard warehouse receipt delivery or FOT Delivery. FOT Delivery shall refer to the delivery method where the seller loads the goods to the buyer's truck board to complete the physical delivery in the FOT Delivery site designated by the Exchange. The designated FOT Delivery site shall refer to the designated delivery site which is recognized by the Exchange to provide delivery service for the FOT Delivery.

The delivery settlement price of the Daily Selective Delivery shall be the then-current day settlement price of the matching day of the Daily Selective Delivery of such futures contract.	Article 38	Daily Selective Delivery shall refer to the delivery method that the Exchange organizes the buyer and the seller to complete the delivery within the stipulated time from the first trading day in the delivery month to the trading day immediately preceding the last trading day, where the seller client who conforms to applicable provisions in the detailed rules for the relevant futures products holding net positions of selling position in the delivery month proposes actively to make standard warehouse receipt delivery or FOT Delivery application.

Daily Selective Delivery may be carried out through standard warehouse receipt delivery or FOT Delivery. FOT Delivery shall refer to the delivery method where the seller loads the goods to the buyer's truck board to complete the physical delivery in the FOT Delivery site designated by the Exchange. The designated FOT Delivery site shall refer to the designated delivery site which is recognized by the Exchange to provide delivery service for the FOT Delivery.

The delivery settlement price of the Daily Selective Delivery shall be the then-current day settlement price of the matching day of the Daily Selective Delivery of such futures contract.
Article 39	The Daily Selective Delivery shall be handled by the Member on behalf of the client which files the application for delivery. The clients holding the prohibited delivery positions may not file the Daily Selective Delivery applications.	Article 39	The Daily Selective Delivery shall be handled by the Member on behalf of the client which files the application for delivery. The clients holding the prohibited delivery positions may not file the Daily Selective Delivery applications.
Article 40	The first day of the Daily Selective Delivery process shall be the matching day.

(1)	the seller declares the delivery. During the delivery month, the seller client may file, through the Member, an application for delivery whose number cannot exceed its net selling position number, and the Member may declare the delivery to the Exchange prior to 11: 30 on each trading day as of the first trading day of the delivery month through the trading day immediately preceding the last trading day. If the standard warehouse receipt is adopted for delivery, the standard warehouse receipt corresponding to the proposed delivery application shall be frozen. If FOT Delivery is adopted, the delivery application shall contain the corresponding designated FOT Delivery site and delivery quantity (unit: lot). The Exchange shall review the above applications and publish the approved seller's delivery applications after 13:30 on each trading day. The published delivery application shall not be revoked and is only valid on the then-current day.

In the event that the net selling positions held by the seller client are less than the declared and approved positions of the seller client in the delivery matching, the Exchange will prohibit the client from seller declaration of daily selective delivery on such product for one year from the date of this declaration; and

(2)	the buyer declares the intent. The buyer which holds the net positions of buying positions in the delivery month shall declare the delivery intent to the Exchange as of the first trading day of the delivery month but prior to the market close of the trading day immediately preceding the last trading day. The buyer may declare two delivery intents based on the delivery applications published by the Exchange, including the first intent and the second intent, and the intent priority orders are as below: (i) with respect to any buyer, its first intent shall be firstly considered, and in case the first intent is not satisfied or not fully satisfied, the second intent shall then be considered; and (ii) with respect to any designated delivery warehouse or designated FOT Delivery site, its first-intent buyers shall be firstly considered, and in case there are remaining standard warehouse receipt delivery or FOT Delivery intents, its second-intent buyers shall then be considered.	Article 40	The first day of the Daily Selective Delivery process shall be the matching day.

(1)	the seller declares the delivery. During the delivery month, the seller client may file, through the Member, an application for delivery whose number cannot exceed its net selling position number, and the Member may declare the delivery to the Exchange prior to 11: 30 on each trading day as of the first trading day of the delivery month through the trading day immediately preceding the last trading day. If the standard warehouse receipt is adopted for delivery, the standard warehouse receipt corresponding to the proposed delivery application shall be frozen. If FOT Delivery is adopted, the delivery application shall contain the corresponding designated FOT Delivery site and delivery quantity (unit: lot). The Exchange shall review the above applications and publish the approved seller's delivery applications after 13:30 on each trading day. The published delivery application shall not be revoked and is only valid on the then-current day.

In the event that the net selling positions held by the seller client are less than the declared and approved positions of the seller client in the delivery matching, the Exchange will prohibit the client from seller declaration of daily selective delivery on such product for one year from the date of this declaration; and

(2)	the buyer declares the intent. The buyer which holds the net positions of buying positions in the delivery month shall declare the delivery intent to the Exchange as of the first trading day of the delivery month but prior to the market close of the trading day immediately preceding the last trading day. The buyer may declare two delivery intents based on the delivery applications published by the Exchange, including the first intent and the second intent, and the intent priority orders are as below: (i) with respect to any buyer, its first intent shall be firstly considered, and in case the first intent is not satisfied or not fully satisfied, the second intent shall then be considered; and (ii) with respect to any designated delivery warehouse or designated FOT Delivery site, its first-intent buyers shall be firstly considered, and in case there are remaining standard warehouse receipt delivery or FOT Delivery intents, its second-intent buyers shall then be considered.
Article 41	After the market close on the matching day, the Exchange shall carry out the delivery matching through the system as per the following principles and steps:

The first step: collecting standard warehouse receipt delivery and FOT Delivery intents. The Exchange shall collect sellers' standard warehouse receipt delivery and FOT Delivery intents by taking the designated delivery warehouse and designated FOT Delivery site as the units.

The second step: matching the designated delivery warehouse or designated FOT Delivery site as per buyers' intents.

With respect to each designated delivery warehouse or designated FOT Delivery site, in case the aggregate position quantity of the buyers which propose the delivery intents is less than or equal to its standard warehouse receipt delivery or FOT Delivery intents all intents of the buyers shall be satisfied; or in case the aggregate position quantity of the buyers which propose the delivery intents is more than its standard warehouse receipt delivery or FOT Delivery intents, the buyers which will participate in the delivery matching shall be determined under the principle of "priority in the most length of the average position period".

The average position period shall take "day" as the unit, which shall be the weighted average number of the period of each Lot of the positions. In case of the same lengths of average position periods, the priority shall be given to the buyer which has the earliest position.

The buyer's average position period

=

∑ period of the buyer's each Lot of position

the buyer's aggregate position quantity

For the remaining standard warehouse receipt delivery and FOT Delivery intents after satisfaction of the buyers' intents, the Exchange will then select the buyers to participate in the matching under the principle of "priority in positions with the earliest building time" from the position-holding buyers which have not submitted any delivery intents and those of which the delivery intents have not been satisfied; and the Exchange will then determine the designated delivery warehouses or designated FOT Delivery sites corresponding to the buyers' delivery and the quantities to be delivered in such designated delivery warehouses or designated FOT Delivery sites under the principle of "minimum matching quantity". The positions in the corresponding part of the buying and selling positions of the same client number do not participate in such matching.

The third step: matching the buyers and the sellers. The Exchange shall carry out matching between the buyers matched with the designated delivery warehouses or designated FOT Delivery sites and the sellers holding the corresponding standard warehouse receipt delivery intents or FOT Delivery intents under the principle of "minimum matching quantity" to determine the buyers and the sellers corresponding to the delivery. Once the matching result is determined, it may not be modified by the buyer or the seller.

For standard warehouse receipts of group delivery warehouses, delivery intents shall be declared in the unit of sub-warehouse for delivery matching.	Article 41	After the market close on the matching day, the Exchange shall carry out the delivery matching through the system as per the following principles and steps:

The first step: collecting standard warehouse receipt delivery and FOT Delivery intents. The Exchange shall collect sellers' standard warehouse receipt delivery and FOT Delivery intents by taking the designated delivery warehouse and designated FOT Delivery site as the units.

The second step: matching the designated delivery warehouse or designated FOT Delivery site as per buyers' intents.

With respect to each designated delivery warehouse or designated FOT Delivery site, in case the aggregate position quantity of the buyers which propose the delivery intents is less than or equal to its standard warehouse receipt delivery or FOT Delivery intents all intents of the buyers shall be satisfied; or in case the aggregate position quantity of the buyers which propose the delivery intents is more than its standard warehouse receipt delivery or FOT Delivery intents, the buyers which will participate in the delivery matching shall be determined under the principle of "priority in the most length of the average position period".

The average position period shall take "day" as the unit, which shall be the weighted average number of the period of each Lot of the positions. In case of the same lengths of average position periods, the priority shall be given to the buyer which has the earliest position.

The buyer's average position period

=

∑ period of the buyer's each Lot of position

the buyer's aggregate position quantity

For the remaining standard warehouse receipt delivery and FOT Delivery intents after satisfaction of the buyers' intents, the Exchange will then select the buyers to participate in the matching under the principle of "priority in positions with the earliest building time" from the position-holding buyers which have not submitted any delivery intents and those of which the delivery intents have not been satisfied; and the Exchange will then determine the designated delivery warehouses or designated FOT Delivery sites corresponding to the buyers' delivery and the quantities to be delivered in such designated delivery warehouses or designated FOT Delivery sites under the principle of "minimum matching quantity". The positions in the corresponding part of the buying and selling positions of the same client number do not participate in such matching.

The third step: matching the buyers and the sellers. The Exchange shall carry out matching between the buyers matched with the designated delivery warehouses or designated FOT Delivery sites and the sellers holding the corresponding standard warehouse receipt delivery intents or FOT Delivery intents under the principle of "minimum matching quantity" to determine the buyers and the sellers corresponding to the delivery. Once the matching result is determined, it may not be modified by the buyer or the seller.

For standard warehouse receipts of group delivery warehouses, delivery intents shall be declared in the unit of sub-warehouse for delivery matching.
Article 42	After the market close on the matching day, the buyer Member's trading margins which match the buying position shall be transformed to be the delivery advance; and the seller Member's trading margins which match the selling position shall be handled in accordance with the provisions of the detailed rules of the relevant futures products.	Article 42	After the market close on the matching day, the buyer Member's trading margins which match the buying position shall be transformed to be the delivery advance; and the seller Member's trading margins which match the selling position shall be handled in accordance with the provisions of the detailed rules of the relevant futures products.
Article 43	After the market close on the matching day, the matched positions shall be deducted from the position quantities of the delivery month contracts. The Delivery Notice, the matching result and other Daily Selective Delivery information shall be sent together with the settlement statement of the matching day to the buyer Member and the seller Member through the system, the relevant information shall be notified to the corresponding designated delivery warehouse or designated FOT Delivery site; and sending thereof shall be deemed to be completed upon sending by the system. The matching result and other information shall be published to the public through the relevant public media and/or information providers.	Article 43	After the market close on the matching day, the matched positions shall be deducted from the position quantities of the delivery month contracts. The Delivery Notice, the matching result and other Daily Selective Delivery information shall be sent together with the settlement statement of the matching day to the buyer Member and the seller Member through the system, the relevant information shall be notified to the corresponding designated delivery warehouse or designated FOT Delivery site; and sending thereof shall be deemed to be completed upon sending by the system. The matching result and other information shall be published to the public through the relevant public media and/or information providers.
Article 44	Within one (1) trading day following the matching day, the buyer Member shall, pursuant to the provisions of the tax authority, notify to the seller Member the specific information for issuing the invoice. The specific provisions on the delivery of invoice by the seller Member to the buyer Member are provided in the detailed rules of the relevant futures products.

The invoices for delivery shall be issued by the delivering seller client to the corresponding buyer client, and forwarded, collected and assisted in verification by the Members of both parties.

Where a Member delays or fails to submit the invoice as specified by the Exchange, it shall be handled in accordance with the applicable provisions of the Measures for Clearing Management of Dalian Commodity Exchange.	Article 44	Within one (1) trading day following the matching day, the buyer Member shall, pursuant to the provisions of the tax authority, notify to the seller Member the specific information for issuing the invoice. The specific provisions on the delivery of invoice by the seller Member to the buyer Member are provided in the detailed rules of the relevant futures products.

The invoices for delivery shall be issued by the delivering seller client to the corresponding buyer client, and forwarded, collected and assisted in verification by the Members of both parties.

Where a Member delays or fails to submit the invoice as specified by the Exchange, it shall be handled in accordance with the applicable provisions of the Measures for Clearing Management of Dalian Commodity Exchange.
Article 45	The handover day shall be the second trading day following the matching day.

If standard warehouse receipt delivery is adopted upon matching, prior to the market close on the handover day, the buyer Member shall additionally make the remaining delivery payments corresponding to its matched positions of the delivery month contract. After the market close of the handover day, the Exchange shall transfer the seller's delivered standard warehouse receipt to the appropriate matched buyer. The provisions about the delivery payments made by the Exchange to the seller Member are provided in the detailed rules of the relevant futures products.

If FOT Delivery is adopted upon matching, prior to the market close of the handover day, the buyer Member shall additionally pay the remaining delivery payments corresponding to its matched positions of the delivery month contract. After the market close on the handover day, the Exchange shall notify the matching result of the FOT Delivery to the designated inspection agency. The provisions about the delivery payments made by the Exchange to the seller Member and the handover of the goods between the buyer and the seller are provided in the detailed rules of the relevant futures products.	Article 45	The handover day shall be the second trading day following the matching day.

If standard warehouse receipt delivery is adopted upon matching, prior to the market close on the handover day, the buyer Member shall additionally make the remaining delivery payments corresponding to its matched positions of the delivery month contract. After the market close of the handover day, the Exchange shall transfer the seller's delivered standard warehouse receipt to the appropriate matched buyer. The provisions about the delivery payments made by the Exchange to the seller Member are provided in the detailed rules of the relevant futures products.

If FOT Delivery is adopted upon matching, prior to the market close of the handover day, the buyer Member shall additionally pay the remaining delivery payments corresponding to its matched positions of the delivery month contract. After the market close on the handover day, the Exchange shall notify the matching result of the FOT Delivery to the designated inspection agency. The provisions about the delivery payments made by the Exchange to the seller Member and the handover of the goods between the buyer and the seller are provided in the detailed rules of the relevant futures products.
Article 46	The buyer and the seller may negotiate to handle the receipt and payment of the payments and the handover of the goods for FOT Delivery, and shall submit relevant agreement and the statement of conditions to the Exchange through the Member before the market close on the handover day.

If the buyer and the seller negotiate to handle the receipt and payment of the payments by themselves, the Exchange shall refund the delivery margin to the seller Member and the delivery advance to the buyer Member after the market close on the handover day. The Exchange shall not be responsible for handling such matters as receipt and payment of the payments, handover of the goods and circulation of the invoice, and shall not undertake any guarantee liability for receipt and payment of the payments, handover of the goods and circulation of the invoice of the buyer and the seller.

If the buyer and the seller negotiate to handle the handover of the goods by themselves, but the receipt and payment of the payments is handled through the Exchange, the buyer Member shall supplement all delivery payments before the market close on the handover day, and the Exchange shall transfer all the delivery payments to the seller Member within the time period specified in the detailed rules for the of relevant futures products, and shall not undertake any guarantee liability for receipt and payment of the payments, handover of the goods and circulation of the invoice of the buyer and the seller.	Article 46	The buyer and the seller may negotiate to handle the receipt and payment of the payments and the handover of the goods for FOT Delivery, and shall submit relevant agreement and the statement of conditions to the Exchange through the Member before the market close on the handover day.

If the buyer and the seller negotiate to handle the receipt and payment of the payments by themselves, the Exchange shall refund the delivery margin to the seller Member and the delivery advance to the buyer Member after the market close on the handover day. The Exchange shall not be responsible for handling such matters as receipt and payment of the payments, handover of the goods and circulation of the invoice, and shall not undertake any guarantee liability for receipt and payment of the payments, handover of the goods and circulation of the invoice of the buyer and the seller.

If the buyer and the seller negotiate to handle the handover of the goods by themselves, but the receipt and payment of the payments is handled through the Exchange, the buyer Member shall supplement all delivery payments before the market close on the handover day, and the Exchange shall transfer all the delivery payments to the seller Member within the time period specified in the detailed rules for the of relevant futures products, and shall not undertake any guarantee liability for receipt and payment of the payments, handover of the goods and circulation of the invoice of the buyer and the seller.
Article 47	Under the process of the Daily Selective Delivery, any default of the standard warehouse receipt delivery shall be handled according to the applicable provisions of Chapter IIX hereof, and any default of the FOT Delivery shall be handled according to the applicable provisions of the detailed rules for the relevant futures products.	Article 47	Under the process of the Daily Selective Delivery, any default of the standard warehouse receipt delivery shall be handled according to the applicable provisions of Chapter IIX hereof, and any default of the FOT Delivery shall be handled according to the applicable provisions of the detailed rules for the relevant futures products.
Chapter V One-off Delivery	Chapter VIII One-off Delivery
Article 48	The futures contracts of any and all commodities listed on the Exchange shall take the form of the One-off Delivery.	Article 4819	The futures contracts of any and all commodities listed on the Exchange shall take the form of the One-off Delivery.
Article 49	The One-off Delivery shall refer to the delivery method that, after the last trading day of the contract, the Exchange organizes all open contracts holders to carry out delivery.

The One-off Delivery shall be completed respectively on three (3) trading days of the standard warehouse receipt submission day, the matching day and the handover day (the last delivery day). After the last trading day of the contract, all open contracts holders must perform the contracts through delivery; and the portions of positions corresponding to the buying and selling positions under the same client number shall be deemed to be automatically closed, no delivery shall be handled therefor and the closing price shall be calculated as per the delivery settlement price of the One-off Delivery.

The delivery settlement price of One-off Delivery shall be the weighted average price of all trade prices of the futures contract during the period as of the first trading day of the delivery month through the last trading day thereof. Where the detailed rules of eggs, ethylene glycol, ethenylbenzene, liquefied petroleum gas, live hog, log or other futures products stipulate otherwise, such stipulation shall prevail.	Article 4920	The One-off Delivery shall refer to the delivery method that, after the last trading day of the contract, the Exchange organizes all open contracts holders to carry out delivery.

The One-off Delivery shall be completed respectively on three (3) trading days of the standard warehouse receipt delivery and the FOT Delivery application submission day, the matching day and the handover day (the last delivery day). After the last trading day of the contract, all open contracts holders must perform the contracts through delivery; and the portions of positions corresponding to the buying and selling positions under the same client number shall be deemed to be automatically closed, no delivery shall be handled therefor and the closing price shall be calculated as per the delivery settlement price of the One-off Delivery.

The delivery settlement price of One-off Delivery shall be the weighted average price of all trade prices of the futures contract during the period as of the first trading day of the delivery month through the last trading day thereof. Where the detailed rules of eggs, ethylene glycol, ethenylbenzene, liquefied petroleum gas, live hog, log or other futures products stipulate otherwise, such stipulation shall prevail.
Article 50	After the market close of the last trading day, the Exchange shall transform the trading margins of the buying positions of the delivery month to be the delivery advances.	Article 5021	After the market close of the last trading day, the Exchange shall transform the trading margins of the buyer Member of the buying positions of the delivery month to be the delivery advances., and the trading margins of the seller Member of the selling positions of the delivery month shall be transformed to be the delivery margins.

When settling on the last trading day, the Exchange shall settle Member's positions in such delivery month at the delivery settlement price, the profits or losses arising out of which shall be calculated into the liquidation profits or losses of the then-current day; the Exchange shall deduct the delivery commissions from the settlement reserves of the Member.
Article 51	The first day of the One-off Delivery process shall be the standard warehouse receipt submission day.

Prior to the market close on the first trading day following the last trading day, the seller Member must submit to the Exchange all the standard warehouse receipt corresponding to its delivery month contract positions; and after the market close on the first trading day following the last trading day, the Exchange shall publish the information with respect to the delivery products of any and all delivery warehouses and the quantities of the standard warehouse receipt.

With respect to No. 2 soybean or other products, the seller Member shall also submit other materials in accordance with the detailed rules for the relevant products.	Article 5122	The first day of the One-off Delivery process shall be the standard warehouse receipt delivery and the FOT Delivery application submission day.

Prior to the market close on the first trading day following the last trading day, if standard warehouse receipt delivery is adopted, the seller Member must submit to the Exchange all the standard warehouse receipt corresponding to its delivery month contract positions; and; if FOT Delivery is adopted, the seller Member must submit to the Exchange the delivery application which shall contain the information with respect to corresponding designated FOT Delivery site and delivery quantity (unit: lot).

Aafter the market close on the first trading day following the last trading day, the Exchange shall publish the information with respect to the delivery products of any and all designated delivery warehouses and the quantities of the standard warehouse receipt, and the information with respect to the delivery products for each designated FOT Delivery site and proposed delivery quantity of the goods.

With respect to No. 2 soybean or other products, the seller Member shall also submit other materials in accordance with the detailed rules for the relevant products.

If standard warehouse receipt delivery is adopted, after the timely submission of the standard warehouse receipt by the seller Member to the Exchange, the Exchange shall refund the delivery margins to the seller Member; where the detailed rules of No. 2 soybean, eggs or other futures products stipulate otherwise in respect of the refund of delivery margins for standard warehouse receipt delivery of the storage warehouse, such stipulation shall prevail. If FOT Delivery is adopted, the refund of the delivery margins of the matched selling positions of the seller Member shall be handled in accordance with the provisions of the detailed rules of the relevant futures products.
Article 52	The second day of the One-off Delivery process shall be the matching day.

Before the market close on the second trading day following the last trading day, the buyer may, on the basis of the information published by the Exchange, propose the delivery intent declaration. The buyer may declare two delivery intents of the first intent and the second intent. After the market close, the Exchange shall allocate the Bonded Standard Warehouse Receipt under the principle of "priority in overseas buyer" and "priority in intent". The intent priority orders are as below: (i) with respect to any buyer, its first intent shall be firstly considered, and in case the first intent is not satisfied or not fully satisfied, the second intent shall then be considered; and (ii) with respect to any delivery warehouse, its first-intent buyers shall be firstly considered, and in case there are remaining warehouse receipts, its second-intent buyers shall then be considered. The "overseas buyer" referred to in this article excludes the qualified foreign institutional investors and RMB qualified foreign institutional investors.

After the market close on the matching day, the Exchange shall carry out the delivery matching as per the following principles and steps:

The first step: collecting the standard warehouse receipts. The Exchange shall collect seller's standard warehouse receipts by taking warehouse as the unit.

The second step: matching the overseas buyers and the Bonded Standard Warehouse Receipts. With respect to each Bonded Delivery warehouse, in case the aggregate position quantity of the overseas buyers which propose the delivery intents is less than the quantity of its Bonded Standard Warehouse Receipt, all intents of the overseas buyers shall be satisfied; or in case the aggregate position quantity of the overseas buyers which propose the delivery intents is more than the quantity of its Bonded Standard Warehouse Receipts, the overseas buyers which will participate in the delivery matching shall be determined under the principle of "priority in the most length of the average position period". After that, the Exchange shall carry out the matching under the principle of "the minimum matching quantity" between the Bonded Standard Warehouse Receipts which have not been allocated and the positions of the overseas buyers the delivery intents proposed by which have not been satisfied, and determine the Bonded Delivery warehouses corresponding to the overseas buyers' delivery and the quantities to be delivered in such warehouses.

The third step: matching the remaining buyers and the remaining delivery warehouses. With respect to each remaining delivery warehouse, in case the aggregate position quantity of the buyers which propose the delivery intents is less than the quantity of its standard warehouse receipts, all intents of the buyers shall be satisfied; or in case the aggregate position quantity of the buyers which propose the delivery intents is more than the quantity of its standard warehouse receipts, the buyers which will participate in the delivery matching shall be determined under the principle of "priority in the most length of the average position period".

The average position period shall take "day" as the unit, which shall be the weighted average number of the period of each Lot of the positions. In case of the same lengths of average position periods, the priority shall be given to the buyer which has the earliest position.

The buyer's average position period

=

∑ period of the buyer's each Lot of position

the buyer's aggregate position quantity

The Exchange shall carry out the matching under the principle of "the minimum matching quantity" between the warehouse receipts left after the satisfaction of the buyer's intents and the positions of the buyers which fail to propose any delivery intent or the delivery intents proposed by which have not been satisfied, and determine the warehouses corresponding to the buyer's delivery and the quantities to be delivered in such warehouses.

The fourth step: matching the buyers and the sellers. The Exchange shall carry out matching under the principle of "the minimum matching quantity" between the buyers with the matched warehouses and the sellers holding the warehouse receipts of such warehouses, and determine the buyers and the sellers corresponding to the delivery.

For standard warehouse receipt of group delivery warehouses, delivery intents should be applied and matching process should be conducted on the basis of sub-warehouse.

No determined matching result may be modified by the buyer or the seller. The matching results and other information shall be sent to both the buyer Member and the seller Member through the Member service system; and sending thereof shall be deemed to be completed upon sending by the member service system.	Article 5223	The second day of the One-off Delivery process shall be the matching day.

Before the market close on the second trading day following the last trading day, the buyer may, on the basis of the information published by the Exchange, propose the delivery intent declaration. The buyer may declare two delivery intents of the first intent and the second intent. After the market close, when allocating the standard warehouse receipt delivery and the FOT delivery intents, the Exchange shall allocate the Bonded Standard Warehouse Receipt Delivery under the principle of "priority in overseas buyer" and "priority in intent". The intent priority orders are as below: (i) with respect to any buyer, its first intent shall be firstly considered, and in case the first intent is not satisfied or not fully satisfied, the second intent shall then be considered; and (ii) with respect to any designated delivery warehouse or designated FOT Delivery site, its first-intent buyers shall be firstly considered, and in case there are remaining standard warehouse receipts delivery or FOT Delivery intents, its second-intent buyers shall then be considered. The "overseas buyer" referred to in this article excludes the qualified foreign institutional investors and RMB qualified foreign institutional investors.

After the market close on the matching day, the Exchange shall carry out the delivery matching through the system as per the following principles and steps:

The first step: collecting the standard warehouse receipts delivery and the FOT Delivery intents. The Exchange shall collect seller's standard warehouse receipts delivery and the FOT Delivery intents by taking designated delivery warehouse and designated FOT Delivery site as the unit.

The second step: matching the overseas buyers and the Bonded Standard Warehouse Receipts delivery or the FOT Delivery intents. With respect to each Bonded Delivery warehouse or FOT Delivery site, in case the aggregate position quantity of the overseas buyers which propose the delivery intents is less than or equal to the quantity of its Bonded Standard Warehouse Receipt delivery or FOT Delivery intents, all intents of the overseas buyers shall be satisfied; or in case the aggregate position quantity of the overseas buyers which propose the delivery intents is more than the quantity of its Bonded Standard Warehouse Receipts delivery or FOT Delivery intents, the overseas buyers which will participate in the delivery matching shall be determined under the principle of "priority in the most length of the average position period". After that, the Exchange shall carry out the matching under the principle of "the minimum matching quantity" between the Bonded Standard Warehouse Receipts delivery or the FOT Delivery intents which have not been allocated and the positions of the overseas buyers the delivery intents proposed by which have not been satisfied, and determine the Bonded Delivery warehouses delivery or FOT Delivery intents corresponding to the overseas buyers' delivery and the quantities to be delivered in such Bonded Delivery warehouses and FOT Delivery sites.

The third step: matching the remaining buyers and the remaining designated delivery warehouses or designated FOT Delivery sites. With respect to each remaining designated delivery warehouse or designated FOT Delivery site, in case the aggregate position quantity of the buyers which propose the delivery intents is less than or equal to the quantity of its relevant standard warehouse receipts delivery or FOT Delivery intents, all intents of the buyers shall be satisfied; or in case the aggregate position quantity of the buyers which propose the delivery intents is more than the quantity of its standard warehouse receipts delivery or FOT Delivery intents, the buyers which will participate in the delivery matching shall be determined under the principle of "priority in the most length of the average position period".

The average position period shall take "day" as the unit, which shall be the weighted average number of the period of each Lot of the positions. In case of the same lengths of average position periods, the priority shall be given to the buyer which has the earliest position.

The buyer's average position period

=

∑ period of the buyer's each Lot of position

the buyer's aggregate position quantity

The Exchange shall carry out the matching under the principle of "the minimum matching quantity" between the standard warehouse receipts delivery and FOT Delivery intents left after the satisfaction of the buyer's intents and the positions of the buyers which fail to propose any delivery intent or the delivery intents proposed by which have not been satisfied, and determine the designated delivery warehouses and FOT Delivery sites corresponding to the buyer's delivery and the quantities to be delivered in such designated delivery warehouses or FOT Delivery sites.

The fourth step: matching the buyers and the sellers. The Exchange shall carry out matching under the principle of "the minimum matching quantity" between the buyers with the matched designated delivery warehouses or FOT Delivery sites and the sellers holding the corresponding standard warehouse receipts of such warehouses delivery or FOT Delivery intents, and determine the buyers and the sellers corresponding to the delivery.

The "overseas buyer" referred to in this Article excludes the qualified foreign institutional investors and RMB qualified foreign institutional investors.

For standard warehouse receipt of group delivery warehouses, delivery intents should be applied and matching process should be conducted on the basis of sub-warehouse.

No determined matching result may be modified by the buyer or the seller. The matching results and other information shall be sent to both the buyer Member and the seller Member through the Member service system, the relevant information shall be notified to the corresponding designated delivery warehouses or designated FOT Delivery sites,; and sending thereof shall be deemed to be completed upon sending by the member service system.
Article 53	The third day of the One-off Delivery process shall be the handover day, i.e., the last delivery day (the third trading day following the last trading day).

Before the market close on the last delivery day, the buyer Member shall additionally make the difference of the payments corresponding to its positions of the delivery month.

After the market close on the last delivery day, the Exchange shall deliver the standard warehouse receipt submitted by the seller Member to the buyer Member and make eighty percent (80%) of the payments to the seller Member, and the remaining payments shall be made after the seller Member submits the invoice. Where the detailed rules of No. 2 soybeans, iron ore, eggs or other futures products stipulate otherwise in respect of the payments, such stipulation shall prevail.	Article 5324	The third day of the One-off Delivery process shall be the handover day, i.e., the last delivery day (the third trading day following the last trading day).

Before the market close on the last delivery day, the buyer Member shall additionally make the difference of the payments corresponding to its positions of the delivery month.

If standard warehouse receipt delivery is adopted, Aafter the market close on the last delivery day, the Exchange shall deliver the standard warehouse receipt submitted by the seller Member to the buyer Member and make eighty percent (80%) of the payments to the seller Member, and the remaining payments shall be made after the seller Member submits delivers the invoice. Where the detailed rules of No. 2 soybeans, iron ore, eggs or other futures products stipulate otherwise in respect of the payments for standard warehouse receipt delivery of the storage warehouse, such stipulation shall prevail.

If FOT delivery is adopted, after the market close on the last delivery day, the Exchange shall notify the matching result of the FOT Delivery to the corresponding designated quality inspection agency. The provisions in respect of the delivery payments made by the Exchange to the seller Member and the handover of the goods between the buyer and the seller are provided in the detailed rules of the relevant futures products.
Article 54	After determination of the matching results, the buyer shall, within one (1) trading day following the matching day and subject to the provisions of the tax authorities, notify the seller of the specific matters with respect to the issuance of the invoice, including the name and address of the buyer entity, the amount and the taxpayer's registration number and other information, except otherwise the subject matters to be handed over are bonded iron ore.

The seller Member shall deliver the invoice to the buyer Member within seven (7) trading days following the matching day. Where the detailed rules of No. 2 soybeans, iron ore, eggs or other futures products stipulate otherwise in respect of the invoice delivery, such stipulation shall prevail.	Article 5425	After determination of the matching results, the buyer shall, within one (1) trading day following the matching day and subject to the provisions of the tax authorities, notify the seller of the specific matters with respect to the issuance of the invoice, including the name and address of the buyer entity, the amount and the taxpayer's registration number and other information, except otherwise the subject matters to be handed over are bonded iron ore.

If standard warehouse receipt delivery is adopted, Tthe seller Member shall deliver the invoice to the buyer Member within seven (7) trading days following the matching day. Where the detailed rules of No. 2 soybeans, iron ore, eggs or other futures products stipulate otherwise in respect of the invoice delivery for standard warehouse receipt delivery of the storage warehouse, such stipulation shall prevail.

If the FOT delivery is adopted, the specific provisions on the delivery of invoice by the seller Member to the buyer Member are provided in the detailed rules of the relevant futures products.
Article 55	The invoices shall be issued by the seller of delivery to the corresponding buyer, and shall be forwarded and obtained by, and confirmed with assistance from, the Members of the parties.

Any Member's delay or failure in submission of any invoice shall be handled subject to the applicable provisions of the Measures for Clearing Management of Dalian Commodity Exchange.

Where the detailed rules of iron ore or other futures products stipulate otherwise in respect of the method of invoice issuance, such stipulation shall prevail.	Article 5526	The invoices shall be issued by the seller client of delivery to the corresponding buyer client, and shall be forwarded and obtained by, and confirmed with assistance from, the Members of the parties.

Any Member's delay or failure in submission delivery of any invoice shall be handled subject to the applicable provisions of the Measures for Clearing Management of Dalian Commodity Exchange.

Where the detailed rules of iron ore or other futures products stipulate otherwise in respect of the method of invoice issuance, such stipulation shall prevail.
Article 27	Under the process of the One-off Delivery, any default of the delivery shall be handled according to the following provisions:

(1) For the futures products that only adopt standard warehouse receipt delivery, the default of delivery shall be handled according to the applicable provisions of Chapter VI hereof.

(2) For the futures products that only adopt FOT Delivery, any default of delivery shall be handled according to the applicable provisions of the detailed rules for the relevant futures products; if the seller Member fails to submit to the Exchange the delivery application containing the information with respect to corresponding designated FOT Delivery site and delivery quantity (unit: lot) prior to the market close on the first trading day following the last trading day, it shall be handled according to the relevant provisions of FOT Delivery default.

(3) For the futures products that adopt both standard warehouse receipt delivery and FOT Delivery, if the seller Member fails to submit to the Exchange all the standard warehouse receipts corresponding to its delivery month contract positions or the delivery application containing the information with respect to corresponding designated FOT Delivery site and delivery quantity (unit: lot) prior to the market close on the first trading day following the last trading day, the default of delivery shall be handled according to the applicable provisions with respect to the default of standard warehouse receipt delivery under Chapter VI hereof. For applications of standard warehouse receipt delivery and FOT Delivery that have been submitted by the seller Member, they shall be handled in accordance with the default of standard warehouse receipt delivery and default of FOT Delivery respectively.
Article 56	With respect to the One-off Delivery of Bonded Standard Warehouse Receipt, the applicable provisions of the detailed rules of the futures products adopting Bonded Delivery shall be applied.	Article 5628	With respect to the One-off Delivery of Bonded Standard Warehouse Receipt, the applicable provisions of the detailed rules of the futures products adopting Bonded Delivery shall be applied.
Article 61	The Bonded Standard Warehouse Receipts which participant in delivery shall be handled according to the detailed rules of the futures products adopting Bonded Delivery.

The bonded commodities which participant in Bill of Lading Delivery shall be handled according to the applicable provisions of Chapter II hereof.	Article 6133	The Bonded Standard Warehouse Receipts which participant in delivery shall be handled according to the detailed rules of the futures products adopting Bonded Delivery.

The bonded commodities which participant in Bill of Lading Delivery shall be handled according to the applicable provisions of Chapter II hereof.
Article 69	Either of the following circumstances will constitute a delivery default:

(1)	the seller fails to fully deliver the standard warehouse receipt within the prescribed period; or

(2)	the buyer fails to fully make the payments within the prescribed period.

With respect to the default of the Bill of Lading Delivery, the FOT Delivery or others, where the Exchange stipulates otherwise, such stipulation shall prevail.	Article 6941	Either of the following circumstances will constitute a delivery default:

(1)	the seller fails to fully deliver the standard warehouse receipt within the prescribed period; or

(2)	the buyer fails to fully make the payments within the prescribed period.

With respect to the default of the Bill of Lading Delivery, the FOT Delivery or others, where the Exchange stipulates otherwise, such stipulation shall prevail.
Chapter IX Handover by Agreement	Chapter IXVII Handover by Agreement
Article 78	If the buyer and the seller of matched delivery conduct handover by agreement through FOT Delivery, they shall do so in accordance with Article 46 hereof and relevant provisions of the detailed rules of relevant futures products.

If the buyer and the seller of matched delivery conduct handover by agreement through standard warehouse receipt delivery, the specific provisions will be separately stipulated by the Exchange.	Article 7850	If the buyer and the seller of matched delivery conduct handover by agreement through FOT Delivery, they shall do so in accordance with Article 46 hereof and relevant provisions of the detailed rules of relevant futures products. they shall submit the relevant agreement and the statement of conditions to the Exchange through the Member before the market close on the handover day, and shall be handled in accordance with the following provisions:

(1) If the buyer and the seller negotiate to handle the receipt and payment of the payments by themselves, the Exchange shall refund the delivery margins to the seller Member and the delivery advances to the buyer Member after the market close on the handover day. The Exchange shall not be responsible for handling such matters as receipt and payment of the payments, handover of the goods and circulation of the invoice, and shall not undertake any guarantee liability for receipt and payment of the payments, handover of the goods and circulation of the invoice of the buyer and the seller.

(2) If the buyer and the seller negotiate to handle the handover of the goods by themselves, but the receipt and payment of the payments are handled through the Exchange, the buyer Member shall supplement all delivery payments before the market close on the handover day, and the Exchange shall transfer all the delivery payments to the seller Member within the time period specified in the detailed rules for the relevant futures products. The Exchange shall not undertake any guarantee liability for receipt and payment of the payments, handover of the goods and circulation of the invoice of the buyer and the seller.

If the buyer and the seller of matched delivery conduct handover by agreement through standard warehouse receipt delivery, the specific provisions will be separately stipulated by the Exchange.
Article 80	No business with respect to delivery and standard warehouse receipts, non-standard warehouse receipts or Bills of Lading will be handled by the Exchange during the after-hours trading sessions.	Article 8052	No business with respect to delivery and standard warehouse receipts, or non-standard warehouse receipts or Bills of Lading will be handled by the Exchange during the after-hours trading sessions.

2. Comparison Table of the Amendment of the Measures for Clearing Management of Dalian Commodity Exchange

(Contents newly added are in shade and contents deleted are marked with double strikethrough; where any clause is added or deleted, the number of other clauses shall be changed in order accordingly.)

Original Articles	Amended Articles
Article 60	The delivery settlement price shall be the benchmark price for the delivery settlement of the futures contract. The delivery settlement price of the rolling delivery shall be the then-current day settlement price of the rolling delivery matching day of the futures contract. The delivery settlement price of the one-off delivery shall be the weighted average price of all the trade prices from the first trading day of the delivery month through the last trading day thereof with respect to the futures contract. Where the detailed rules of eggs, ethylene glycol, ethenylbenzene, liquefied petroleum gas, live hog, log or other futures products stipulate otherwise in respect of the delivery settlement price of one-off delivery, such stipulation shall prevail. The delivery settlement price of the bill of lading delivery shall be the then-current day settlement price of the bill of lading delivery matching day of the futures contract. The delivery settlement price of the daily selective delivery shall be the then-current day settlement price of the daily selective delivery matching day of the futures contract.

The delivery settlement price of bonded delivery is specified in the applicable provisions of the Measures for Delivery Management of Dalian Commodity Exchange and the detailed rules of relevant futures products adopting bonded delivery.	Article 60	The delivery settlement price shall be the benchmark price for the delivery settlement of the futures contract. The delivery settlement price of the rolling delivery shall be the then-current day settlement price of the rolling delivery matching day of the futures contract. The delivery settlement price of the one-off delivery shall be the weighted average price of all the trade prices from the first trading day of the delivery month through the last trading day thereof with respect to the futures contract. Where the detailed rules of eggs, ethylene glycol, ethenylbenzene, liquefied petroleum gas, live hog, log or other futures products stipulate otherwise in respect of the delivery settlement price of one-off delivery, such stipulation shall prevail. The delivery settlement price of the bill of lading delivery shall be the then-current day settlement price of the bill of lading delivery matching day of the futures contract. The delivery settlement price of the daily selective delivery shall be the then-current day settlement price of the daily selective delivery matching day of the futures contract.

The delivery settlement price of bonded delivery is specified in the applicable provisions of the Measures for Delivery Management of Dalian Commodity Exchange and the detailed rules of relevant futures products adopting bonded delivery.
Article 63	The invoices and other receipts acceptable by the Exchange shall be issued by the seller of delivery to the corresponding buyer. Such invoices or receipts shall be forwarded, obtained, and verified by the Members on behalf of the buyer and seller. The Exchange shall fully settle the remaining payments according to the result confirmed by the Members of the parties. Where the detailed rules of iron ore or other futures products stipulate otherwise in respect of the method of invoice issuance, such stipulation shall prevail.

With respect to each product, the types of invoices and other receipts acceptable by the Exchange to be issued are specified in the relevant detailed rules of such futures product.	Article 63	The invoices and other receipts acceptable by the Exchange shall be issued by the seller client of delivery to the corresponding buyer client. Such invoices or receipts shall be forwarded, obtained, and verified by the Members on behalf of the buyer and seller. The Exchange shall fully settle the remaining payments according to the result confirmed by the Members of the parties. Where the detailed rules of iron ore or other futures products stipulate otherwise in respect of the method of invoice issuance, such stipulation shall prevail.

With respect to each product, the types of invoices and other receipts acceptable by the Exchange to be issued are specified in the relevant detailed rules of such futures product.
Article 64	In case the seller Member fails to provide the dedicated (common) VAT invoices within the prescribed time, from the second (2) day on which the dedicated (common) VAT invoice supposed to be provided, the Exchange shall charge the overdue fee against the seller Member at the rate of zero point five thousandth (0.5‰) of the amount of the payments, and such fee will be paid to the buyer Member as compensation. In case the seller Member fails to provide the dedicated (common) VAT invoices within thirty (30) calendar days, it shall be deemed that it fails to provide the dedicated (common) VAT invoice, and the Exchange shall charge the compensation as per the VAT amount calculated pursuant to the national taxation policies, and such compensation will be paid to the buyer Member together with the overdue fee as total compensation. The foregoing fee and amounts shall be deducted from the amount of the delivery payment reserved at the Exchange by the seller Member, and the remaining payments shall belong to the seller Member. In case there are different agreements between the buyer and the seller, such agreement shall prevail. Where the detailed rules of iron ore or other futures products stipulate otherwise, such stipulation shall prevail.	Article 64	In case the seller Member fails to providedeliver the dedicated (common) VAT invoices within the prescribed time, from the second (2) day on which the dedicated (common) VAT invoice supposed to be provideddelivered, the Exchange shall charge the overdue fee against the seller Member at the rate of zero point five thousandth (0.5‰) of the amount of the payments, and such fee will be paid to the buyer Member as compensation. In case the seller Member fails to providedeliver the dedicated (common) VAT invoices within thirty (30) calendar days, it shall be deemed that it fails to providedeliver the dedicated (common) VAT invoice, and the Exchange shall charge the compensation as per the VAT amount calculated pursuant to the national taxation policies, and such compensation will be paid to the buyer Member together with the overdue fee as total compensation. The foregoing fee and amounts shall be deducted from the amount of the delivery payment reserved at the Exchange by the seller Member, and the remaining payments shall belong to the seller Member. In case there are different agreements between the buyer and the seller, such agreement shall prevail. Where the detailed rules of iron ore or other futures products stipulate otherwise, such stipulation shall prevail.
Article 65	The clearing of the one-off delivery shall be handled as per the following rules:

after the market close on the last trading day, the buyer Member's trading margins of buying positions in the delivery month shall be transformed to be the delivery advance payment, and the seller Member's trading margins of selling positions in the delivery month shall be transformed to be the delivery margins; and the Exchange will refund the seller Member's delivery margins after the seller Member timely delivers the standard warehouse receipts to the Exchange; where the detailed rules of No. 2 soybean, eggs or other futures products stipulate otherwise in respect of the refund of delivery margins, such stipulation shall prevail;

upon settlement on the last trading day, the Exchange shall settle the Member's positions in such delivery month at the delivery settlement price, the profits or losses arising out of which shall be calculated into the liquidation profits or losses of the then-current day;

upon settlement on the last trading day, the Exchange shall deduct the delivery commissions from the Member's clearing deposits;

before the market close of the first trading day following the last trading day, the seller Member shall submit all the standard warehouse receipts corresponding to its selling positions of the delivery month to the Exchange;

before the market close on the last delivery day, the buyer Member shall transfer the balance between the payments corresponding to its buying positions of the delivery month and the delivery advance payment to the Exchange's dedicated settlement account;

in case the seller Member fails to deliver the prescribed quantity of the standard warehouse receipts or the buyer Member fails to pay the prescribed amount of the payments within the prescribed time, it shall constitute a delivery default;

after the market close of the last delivery day, the Exchange shall provide the standard warehouse receipts submitted by the seller Member to the buyer Member, and pay eighty percent (80%) of the payments to the seller Member, and the remaining payments shall be paid after the seller Member submits the invoice. Where the detailed rules of No. 2 soybean, iron ore, eggs or other futures products stipulate otherwise in respect of the payments, such stipulation shall prevail;

within one (1) trading day following the matching day, the buyer Member shall, pursuant to the provisions of the tax authority, notify to the seller Member the detailed information for issuing the invoice, including the name and address of the purchasing entity, amount and the taxpayer registration number, except for the bonded iron ore as the handover subject matter; and

the seller Member shall provide the invoice to the buyer Member within seven (7) trading days following the matching day. Where the detailed rules of No. 2 soybean, iron ore, eggs or other futures products stipulate otherwise in respect of the invoice delivery, such stipulation shall prevail.	Article 65	The clearing of the one-off delivery shall be handled as per the following rules:

after the market close on the last trading day, the buyer Member's trading margins of buying positions in the delivery month shall be transformed to be the delivery advance payment, and the seller Member's trading margins of selling positions in the delivery month shall be transformed to be the delivery margins.; and the Exchange will refund the seller Member's delivery margins after the seller Member timely delivers the standard warehouse receipts to the Exchange; where the detailed rules of No. 2 soybean, eggs or other futures products stipulate otherwise in respect of the refund of delivery margins, such stipulation shall prevail;

upon settlement on the last trading day, the Exchange shall settle the Member's positions in such delivery month at the delivery settlement price, the profits or losses arising out of which shall be calculated into the liquidation profits or losses of the then-current day.;

upon settlement on the last trading day, the Exchange shall deduct the delivery commissions from the Member's clearing deposits.;

before the market close of the first trading day following the last trading day, for standard warehouse receipt delivery, the seller Member shall submit all the standard warehouse receipts corresponding to its selling positions of the delivery month to the Exchange; after the standard warehouse receipts are submitted to the Exchange, the Exchange will refund the seller Member's delivery margins. Where the detailed rules of No. 2 soybean, eggs or other futures products stipulate otherwise in respect of the refund of delivery margins for the delivery of standard warehouse receipts of the storage warehouse, such stipulation shall prevail. For FOT Delivery, the refund of delivery margins which match the selling positions of the seller Member shall be handled in accordance with the provisions of the detailed rules of the relevant futures products.

before the market close on the last delivery day, the buyer Member shall transfer the balance between the payments corresponding to its buying positions of the delivery month and the delivery advance payment to the Exchange's dedicated settlement account.;

in case the seller Member fails to deliver the prescribed quantity of the standard warehouse receipts or the buyer Member fails to pay the prescribed amount of the payments within the prescribed time, it shall constitute a delivery default; delivery default under the One-off Delivery process shall be enforced in accordance with the relevant provisions of the Measures for Delivery Management of Dalian Commodity Exchange.

after the market close of the last delivery day, for standard warehouse receipt delivery, the Exchange shall provide the standard warehouse receipts submitted by the seller Member to the buyer Member, and pay eighty percent (80%) of the payments to the seller Member, and the remaining payments shall be paid after the seller Member submitsdelivers the invoice. Where the detailed rules of No. 2 soybean, iron ore, eggs or other futures products stipulate otherwise in respect of the payments for the delivery of standard warehouse receipts of the storage warehouse, such stipulation shall prevail; for FOT Delivery, the provisions about the delivery payments made by the Exchange to the seller Member and the handover of the goods between the buyer and the seller are provided in the detailed rules of the relevant futures products.

within one (1) trading day following the matching day, the buyer Member shall, pursuant to the provisions of the tax authority, notify to the seller Member the detailed information for issuing the invoice, including the name and address of the purchasing entity, amount and the taxpayer registration number, except for the bonded iron ore as the handover subject matter; and.

for standard warehouse receipt delivery, the seller Member shall provide the invoice to the buyer Member within seven (7) trading days following the matching day. Where the detailed rules of No. 2 soybean, iron ore, eggs or other futures products stipulate otherwise in respect of the invoice delivery for the delivery of standard warehouse receipts of the storage warehouse, such stipulation shall prevail; for FOT Delivery, the invoice delivery from the seller Member to the buyer Member shall be handled in accordance with the provisions of the detailed rules of the relevant futures products.

Where the detailed rules of the relevant futures products adopting bonded delivery stipulate otherwise in respect of the One-off Delivery of Bonded Standard Warehouse Receipt, such stipulation shall prevail.
Article 66	The clearing of the rolling delivery shall be handled pursuant to the following rules:

after the market close of the matching day, the buyer Member's trading margins which match the buying position shall be transformed to be the delivery advance payment;

upon settlement on the matching day, the Exchange shall carry out settlement against the Member's positions of the delivery month as per the delivery settlement price, the profits or losses arising out of which shall be calculated into the then-current day liquidation profits or losses;

upon settlement on the matching day, the Exchange will deduct the delivery commissions from the Member's clearing deposit;

before the market close on the handover day, the buyer Member must transfer the balance between the payments corresponding to its buying positions of the delivery and the delivery advance payment to the Exchange's dedicated settlement account;

upon the market close on the handover day, in case the buyer Member fails to pay the prescribed amount of the payments, it shall constitute a delivery default;

after the market close on the handover day, the Exchange shall deliver the standard warehouse receipts submitted by the seller Member to the buyer Member and pay to the seller Member eighty percent (80%) of the payment, and the remaining payments shall be paid after the seller Member provides dedicated VAT invoices;

within one (1) trading day following the matching day, the buyer Member shall, pursuant to the provisions of the tax authority, notify to the seller Member the detailed information for issuing the dedicated VAT invoice, including the name and address of the purchasing entity, the taxpayer registration number and amount; and

within seven (7) trading days following the matching day, the seller Member shall provide the dedicated VAT invoice to the buyer Member.

Where the detailed rules of iron ore or other futures products stipulate otherwise in respect of the payments, invoice issuance and delivery of the rolling delivery of bonded standard warehouse receipt, such stipulation shall prevail.	Article 66	The clearing of the rolling delivery shall be handled pursuant to the following rules:

after the market close of the matching day, the buyer Member's trading margins which match the buying position shall be transformed to be the delivery advance payment; for standard warehouse receipt delivery, unless the detailed rules of eggs or other futures products stipulate otherwise, the trading margins for the seller Member's matched selling positions will be refunded. For FOT Delivery, the trading margins for the seller Member's matched selling positions will be converted into delivery margins. The refund of delivery margins shall be handled in accordance with the provisions of the detailed rules of the relevant futures products.

upon settlement on the matching day, the Exchange shall carry out settlement against the Member's positions of the delivery month as per the delivery settlement price, the profits or losses arising out of which shall be calculated into the then-current day liquidation profits or losses.;

upon settlement on the matching day, the Exchange will deduct the delivery commissions from the Member's clearing deposit.;

before the market close on the handover day, the buyer Member must transfer the balance between the payments corresponding to its buying positions of the delivery and the delivery advance payment to the Exchange's dedicated settlement account.;

upon the market close on the handover day, in case the buyer Member fails to pay the prescribed amount of the payments, it shall constitute a delivery default; delivery default under the Rolling Delivery process shall be enforced in accordance with the relevant provisions of the Measures for Delivery Management of Dalian Commodity Exchange.

after the market close on the handover day, for standard warehouse receipt delivery, the Exchange shall deliver the standard warehouse receipts submitted by the seller Member to the buyer Member and pay to the seller Member eighty percent (80%) of the payment, and the remaining payments shall be paid after the seller Member providesdelivers dedicated VAT the invoices; where the detailed rules of eggs or other futures products stipulate otherwise in respect of the payments for the delivery of standard warehouse receipts of the storage warehouse, such stipulation shall prevail. For FOT Delivery, the provisions about the delivery payments made by the Exchange to the seller Member and the handover of the goods between the buyer and the seller are provided in the detailed rules of the relevant futures products.

within one (1) trading day following the matching day, the buyer Member shall, pursuant to the provisions of the tax authority, notify to the seller Member the detailed information for issuing the dedicated VAT invoice, including the name and address of the purchasing entity, the taxpayer registration number and amount.; and

for standard warehouse receipt delivery, within seven (7) trading days following the matching day, the seller Member shall providedeliver the dedicated VAT invoice to the buyer Member; where the detailed rules of eggs or other futures products stipulate otherwise in respect of the payments for the delivery of standard warehouse receipts of the storage warehouse, such stipulation shall prevail. For FOT Delivery, the invoice delivery from the seller Member to the buyer Member shall be handled in accordance with the provisions of the detailed rules of the relevant futures products.

Where the detailed rules of iron ore or other futures products stipulate otherwise in respect of the payments, invoice issuance and delivery of the rolling delivery of bonded standard warehouse receipt, such stipulation shall prevail. Where the detailed rules of the relevant futures products adopting bonded delivery stipulate otherwise in respect of the Rolling Delivery of Bonded Standard Warehouse Receipt, such stipulation shall prevail.
Article 69	The clearing of the bill of lading delivery shall be subject to the following rules:

after the market close on the matching date, the buyer Member's trading margins of the matched buying positions shall be transformed to be the delivery advance payment; and the seller Member's trading margins of the matched selling positions shall be transformed to be the delivery margins;

upon settlement on the matching date, the Exchange shall settle at the delivery settlement price the Member's positions applied for delivery, the profits or losses arising out of which shall be calculated into the liquidation profits or losses of the then-current day;

upon settlement on the matching date, the Exchange shall deduct the delivery commissions from the Member's clearing deposits;

before the market close on the third natural day after the notification date (or the immediately following trading day in case the third natural day is not a trading day), the buyer Member and seller Member shall deposit enough amount to make the buyer Member's delivery advance payment and the seller Member's delivery margins be equal to twenty percent (20%) of the value of the matched contracts. After the market close, such amount shall be deducted by the Exchange from the relevant Member's clearing deposits.

Before the market close on the third natural day after the notification date (or the immediately following trading day in case the third natural day is not a trading day), the buyer Member and seller Member which participate in the bill of lading delivery shall deposit enough amount to make the buyer Member's the delivery advance payment and the seller Member's delivery margins equal to twenty percent (20%) of the value of the matched contracts. After the market close, such amount shall be deducted by the Exchange from the relevant Member's clearing deposits;

before the market close on the handover day, the buyer Member shall transfer the balance between the payments corresponding to the delivery buying positions (inclusive of the excess or shortage, and the premiums and discounts) and the delivery advance payment to the Exchange's dedicated settlement account;

after the market close on the handover day, the Exchange shall release the seller Member's delivery margin, and in case the subject matters to be handed over are duty paid commodities, the Exchange shall pay eighty percent (80%) of the payments to the seller Member, and the remaining payments shall be fully paid after the seller Member provides the dedicated VAT invoice. In case the subject matters to be handed over are bonded commodities, the Exchange shall transfer the bonded delivery payments to the seller Member;

on the handover day, the buyer Member shall, pursuant to the provisions of the tax authority, notify to the seller Member the detailed information for issuing the invoice or documents, including the name and address of the purchasing entity, amount, and taxpayer registration number necessary for issuing the dedicated VAT invoice, except for the bonded iron ore as the handover subject matter; and

in case the handover subject matters are duty paid commodities, within seven (7) trading days following the handover day, the seller Member shall provide the dedicated VAT to the buyer Member. In case the handover subject matters are bonded commodities, the seller Member shall provide the common VAT invoice to the Exchange before the market close on the handover day.	Article 69	The clearing of the bill of lading delivery shall be subject to the following rules:

after the market close on the matching date, the buyer Member's trading margins of the matched buying positions shall be transformed to be the delivery advance payment; and the seller Member's trading margins of the matched selling positions shall be transformed to be the delivery margins;

upon settlement on the matching date, the Exchange shall settle at the delivery settlement price the Member's positions applied for delivery, the profits or losses arising out of which shall be calculated into the liquidation profits or losses of the then-current day;

upon settlement on the matching date, the Exchange shall deduct the delivery commissions from the Member's clearing deposits;

before the market close on the third natural day after the notification date (or the immediately following trading day in case the third natural day is not a trading day), the buyer Member and seller Member shall deposit enough amount to make the buyer Member's delivery advance payment and the seller Member's delivery margins be equal to twenty percent (20%) of the value of the matched contracts. After the market close, such amount shall be deducted by the Exchange from the relevant Member's clearing deposits.

Before the market close on the third natural day after the notification date (or the immediately following trading day in case the third natural day is not a trading day), the buyer Member and seller Member which participate in the bill of lading delivery shall deposit enough amount to make the buyer Member's the delivery advance payment and the seller Member's delivery margins equal to twenty percent (20%) of the value of the matched contracts. After the market close, such amount shall be deducted by the Exchange from the relevant Member's clearing deposits;

before the market close on the handover day, the buyer Member shall transfer the balance between the payments corresponding to the delivery buying positions (inclusive of the excess or shortage, and the premiums and discounts) and the delivery advance payment to the Exchange's dedicated settlement account;

after the market close on the handover day, the Exchange shall release the seller Member's delivery margin, and in case the subject matters to be handed over are duty paid commodities, the Exchange shall pay eighty percent (80%) of the payments to the seller Member, and the remaining payments shall be fully paid after the seller Member provides the dedicated VAT invoice. In case the subject matters to be handed over are bonded commodities, the Exchange shall transfer the bonded delivery payments to the seller Member;

on the handover day, the buyer Member shall, pursuant to the provisions of the tax authority, notify to the seller Member the detailed information for issuing the invoice or documents, including the name and address of the purchasing entity, amount, and taxpayer registration number necessary for issuing the dedicated VAT invoice, except for the bonded iron ore as the handover subject matter; and

in case the handover subject matters are duty paid commodities, within seven (7) trading days following the handover day, the seller Member shall provide the dedicated VAT to the buyer Member. In case the handover subject matters are bonded commodities, the seller Member shall provide the common VAT invoice to the Exchange before the market close on the handover day.
Article 70	The clearing business of the daily selective delivery shall be handled pursuant to the following rules:

after the market close of the matching day, the buyer Member's trading margins which match the buying position shall be transformed to be the delivery advance payment; and the seller Member's trading margins which match the selling position shall be handled in accordance with the provisions of the detailed rules of the relevant futures products;

upon settlement on the matching day, the Exchange shall carry out settlement against the Member's positions of the delivery month as per the delivery settlement price, the profits or losses arising out of which shall be calculated into the then-current day liquidation profits or losses;

upon settlement on the matching day, the Exchange shall deduct the delivery commissions from the Member's clearing deposit;

before the market close on the handover day, the buyer Member shall transfer the balance between the corresponding delivery payments of its buying positions delivery and the delivery advance payment to the Exchange's dedicated settlement account;

upon market close on the handover day, in case the buyer Member fails to pay the prescribed amount of the payments, it shall constitute a delivery default;

after the close of market on the handover day, the Exchange shall deliver the standard warehouse receipts submitted by the seller Member to the buyer Member; provisions for the payment to sell Members by the Exchange are specified in the relevant detailed rules of specific futures products;

within one (1) trading day following the matching day, the buyer Member shall, pursuant to the provisions of the tax authority, notify to the seller Member the detailed information for issuing the invoice, including the name and address of the purchasing entity, the taxpayer registration number and amount; and

the specific provisions on the delivery of invoice by the seller Member to the buyer Member are provided in the detailed rules of the relevant futures products.	Article 70	The clearing business of the daily selective delivery shall be handled pursuant to the following rules:

after the market close of the matching day, the buyer Member's trading margins which match the buying position shall be transformed to be the delivery advance payment; and the seller Member's trading margins which match the selling position shall be handled in accordance with the provisions of the detailed rules of the relevant futures products;

upon settlement on the matching day, the Exchange shall carry out settlement against the Member's positions of the delivery month as per the delivery settlement price, the profits or losses arising out of which shall be calculated into the then-current day liquidation profits or losses;

upon settlement on the matching day, the Exchange shall deduct the delivery commissions from the Member's clearing deposit;

before the market close on the handover day, the buyer Member shall transfer the balance between the corresponding delivery payments of its buying positions delivery and the delivery advance payment to the Exchange's dedicated settlement account;

upon market close on the handover day, in case the buyer Member fails to pay the prescribed amount of the payments, it shall constitute a delivery default;

after the close of market on the handover day, the Exchange shall deliver the standard warehouse receipts submitted by the seller Member to the buyer Member; provisions for the payment to sell Members by the Exchange are specified in the relevant detailed rules of specific futures products;

within one (1) trading day following the matching day, the buyer Member shall, pursuant to the provisions of the tax authority, notify to the seller Member the detailed information for issuing the invoice, including the name and address of the purchasing entity, the taxpayer registration number and amount; and

the specific provisions on the delivery of invoice by the seller Member to the buyer Member are provided in the detailed rules of the relevant futures products.
Article 75	In the case of item (1) of Article 74, the OSP and the Members of the transfer-in clearing entrustment and transfer-out clearing entrustment shall, within ten (10) trading days before the expiration of the agreement, submit the following materials to the Exchange for changing the clearing entrustment relationship:

……	Article 753	In the case of item (1) of Article 742, the OSP and the Members of the transfer-in clearing entrustment and transfer-out clearing entrustment shall, within ten (10) trading days before the expiration of the agreement, submit the following materials to the Exchange for changing the clearing entrustment relationship:

……
Article 76	In the case of items (2) and (3) of Article 74, in addition to submitting the materials specified in Article 75, the OSP and the Members of the transfer-in clearing entrustment and transfer-out clearing entrustment shall also submit an agreement on termination of the original clearing entrustment relationship. The Exchange shall review the application materials within ten (10) trading days after receiving the complete materials. If an application is approved, the Exchange shall notify the agreed settlement date of changing the clearing entrustment relationship.	Article 764	In the case of items (2) and (3) of Article 742, in addition to submitting the materials specified in Article 753, the OSP and the Members of the transfer-in clearing entrustment and transfer-out clearing entrustment shall also submit an agreement on termination of the original clearing entrustment relationship. The Exchange shall review the application materials within ten (10) trading days after receiving the complete materials. If an application is approved, the Exchange shall notify the agreed settlement date of changing the clearing entrustment relationship.

3. Comparison Table of the Amendment of the Detailed Rules of No.1 Soybean Futures of Dalian Commodity Exchange

(Contents newly added are in shade.)

Original Articles	Amended Articles
Chapter III Delivery and Clearing

Section I General Provisions	Chapter III Delivery and Clearing

Section I General Provisions
Article 16	The No.1 soybean futures contract may apply the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.	Article 16	The No.1 soybean futures contract may apply the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

The rolling delivery and the one-off delivery shall only be carried out by the standard warehouse receipt delivery.

4. Comparison Table of the Amendment of the Detailed Rules of No.2 Soybean Futures of Dalian Commodity Exchange

(Contents newly added are in shade.)

Original Articles	Amended Articles
Chapter III Delivery and Clearing

Section I General Provisions	Chapter III Delivery and Clearing

Section I General Provisions
Article 16	The No.2 Soybean futures contract may apply the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange in addition to the applicable provisions of the Detailed Rules.	Article 16	The No.2 Soybean futures contract may apply the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange in addition to the applicable provisions of the Detailed Rules.

The rolling delivery and the one-off delivery shall only be carried out by the standard warehouse receipt delivery.

5. Comparison Table of the Amendment of the Detailed Rules of Soybean Meal Futures of Dalian Commodity Exchange

(Contents newly added are in shade.)

Original Articles	Amended Articles
Chapter III Delivery and Clearing

Section I General Provisions	Chapter III Delivery and Clearing

Section I General Provisions
Article 16	The soybean meal futures contract may apply the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.	Article 16	The soybean meal futures contract may apply the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

The rolling delivery and the one-off delivery shall only be carried out by the standard warehouse receipt delivery.

6. Comparison Table of the Amendment of the Detailed Rules of Soybean Oil Futures of Dalian Commodity Exchange

(Contents newly added are in shade.)

Original Articles	Amended Articles
Chapter III Delivery and Clearing

Section I General Provisions	Chapter III Delivery and Clearing

Section I General Provisions
Article 16	The soybean oil futures contract may apply the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.	Article 16	The soybean oil futures contract may apply the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

The rolling delivery and the one-off delivery shall only be carried out by the standard warehouse receipt delivery.

7. Comparison Table of the Amendment of the Detailed Rules of RBD Palm Olein Futures of Dalian Commodity Exchange

(Contents newly added are in shade.)

Original Articles	Amended Articles
Chapter III Delivery and Clearing

Section I General Provisions	Chapter III Delivery and Clearing

Section I General Provisions
Article 16	The RBD palm olein futures contract may apply the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.	Article 16	The RBD palm olein futures contract may apply the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

The one-off delivery shall only be carried out by the standard warehouse receipt delivery.

8. Comparison Table of the Amendment of the Detailed Rules of Corn Futures of Dalian Commodity Exchange

(Contents newly added are in shade.)

Original Articles	Amended Articles
Chapter III Delivery and Clearing

Section I General Provisions	Chapter III Delivery and Clearing

Section I General Provisions
Article 16	The corn futures contract may apply the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.	Article 16	The corn futures contract may apply the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

The rolling delivery and the one-off delivery shall only be carried out by the standard warehouse receipt delivery.

9. Comparison Table of the Amendment of the Detailed Rules of Linear Low Density Polyethylene Futures of Dalian Commodity Exchange

(Contents newly added are in shade.)

Original Articles	Amended Articles
Chapter III Delivery and Clearing

Section I General Provisions	Chapter III Delivery and Clearing

Section I General Provisions
Article 16	The linear low density polyethylene futures contract applies the exchange of futures for physicals (the "EFP") delivery and one-off delivery and may apply the bonded delivery.

The EFPs delivery and one-off delivery using the bonded standard warehouse receipts shall be handled according to relevant provisions hereof.

The EFPs delivery and one-off delivery using the duty-paid standard warehouse receipts shall be handled according to relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.	Article 16	The linear low density polyethylene futures contract applies the exchange of futures for physicals (the "EFP") delivery and one-off delivery and may apply the bonded delivery.

The one-off delivery shall only be carried out by the standard warehouse receipt delivery.

The EFPs delivery and one-off delivery using the bonded standard warehouse receipts shall be handled according to relevant provisions hereof.

The EFPs delivery and one-off delivery using the duty-paid standard warehouse receipts shall be handled according to relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

10. Comparison Table of the Amendment of the Detailed Rules of Polyvinyl Chloride Futures of Dalian Commodity Exchange

(Contents newly added are in shade.)

Original Articles	Amended Articles
Chapter III Delivery and Clearing

Section I General Provisions	Chapter III Delivery and Clearing

Section I General Provisions
Article 16	The polyvinyl chloride futures contract shall adopt the exchange of futures for physicals delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.	Article 16	The polyvinyl chloride futures contract shall adopt the exchange of futures for physicals delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

The one-off delivery shall only be carried out by the standard warehouse receipt delivery.

11. Comparison Table of the Amendment of the Detailed Rules of Coke Futures of Dalian Commodity Exchange

(Contents newly added are in shade.)

Original Articles	Amended Articles
Chapter III Delivery and Clearing

Section I General Provisions	Chapter III Delivery and Clearing

Section I General Provisions
Article 16	The coke futures contract applies the exchange of futures for physicals delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.	Article 16	The coke futures contract applies the exchange of futures for physicals delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

The rolling delivery and the one-off delivery shall only be carried out by the standard warehouse receipt delivery.

12. Comparison Table of the Amendment of the Detailed Rules of Coking Coal Futures of Dalian Commodity Exchange

(Contents newly added are in shade.)

Original Articles	Amended Articles
Chapter III Delivery and Clearing

Section I General Provisions	Chapter III Delivery and Clearing

Section I General Provisions
Article 16	The coking coal futures contract applies the exchange of futures for physicals delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.	Article 16	The coking coal futures contract applies the exchange of futures for physicals delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

The rolling delivery and the one-off delivery shall only be carried out by the standard warehouse receipt delivery.

13. Comparison Table of the Amendment of the Detailed Rules of Iron Ore Futures of Dalian Commodity Exchange

(Contents newly added are in shade; contents deleted are marked with double strikethrough; where any clause is added or deleted, the number of other clauses shall be changed in order accordingly.)

Original Articles	Amended Articles
Chapter III Delivery and Clearing

Section I General Provisions	Chapter III Delivery and Clearing

Section I General Provisions
Article 17	Iron ore futures contract is available for the exchange of futures for physicals (the "EFP") delivery, bill of lading delivery, rolling delivery and one-off delivery. Bonded delivery is applicable to iron ore futures contract.

With respect to the EFP delivery, rolling delivery and one-off delivery involving bonded standard warehouse receipt, the applicable provisions of the Detailed Rules shall apply.

With respect to the EFP delivery, rolling delivery and one-off delivery involving duty-paid standard warehouse receipt, the applicable provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange shall apply.

With respect to the bill of lading delivery of which the application quantity for each delivery is ten thousand (10,000) tons or the integral multiple, the applicable provisions of the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange shall apply, if not provided in the Detailed Rules. The Confirmation Letter for Brand, Quality and Quantity of the Handed-over Products thereof is detailed in Annex 3 attached hereto.	Article 17	Iron ore futures contract is available for the exchange of futures for physicals (the "EFP") delivery, bill of lading delivery, rolling delivery and one-off delivery. Bonded delivery is applicable to iron ore futures contract.

The rolling delivery and the one-off delivery shall only be carried out by the standard warehouse receipt delivery.

With respect to the EFP delivery, rolling delivery and one-off delivery involving bonded standard warehouse receipt, the applicable provisions of the Detailed Rules shall apply.

With respect to the EFP delivery, rolling delivery and one-off delivery involving duty-paid standard warehouse receipt, the applicable provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange shall apply.

With respect to the bill of lading delivery of which the application quantity for each delivery is ten thousand (10,000) tons or the integral multiple, the applicable provisions of the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange shall apply, if not provided in the Detailed Rules. The Confirmation Letter for Brand, Quality and Quantity of the Handed-over Products thereof is detailed in Annex 3 attached hereto.
Article 18	In the case of rolling delivery, the seller's declaration of delivery and the buyer's declaration of intent on the matching day shall proceed as follows:

The seller declares the delivery. During the delivery month, the client which holds both standard warehouse receipts and the net positions of selling positions in the delivery month may file, through the Member, an application for delivery, and the Member may declare the delivery to the Exchange prior to 11:30 of each trading day as of the first trading day of the delivery month through the trading day immediately preceding the last trading day thereof (inclusive). The standard warehouse receipts corresponding to the proposed delivery application will be frozen, and the trading margins corresponding to its selling positions will not be collected. The Exchange will review the above application and announce the seller's application for delivery that has passed the review after 13:30 of each trading day. After the announcement, the delivery application shall not be revoked and shall only be valid on the then-current day.

If the net selling positions of the seller client are less than the positions declared by the seller client and passed the review in the matching of delivery, the Exchange will prohibit the client from making the rolling delivery declaration as the seller of such product for a period of one (1) year from the date of this declaration.

The buyer declares the intent. The buyer which holds the net positions of buying positions in the delivery month may, according to the sellers' application for delivery announced by the Exchange, declare two delivery intents to the Exchange as of the first trading day of the delivery month but prior to the market close of the trading day immediately preceding the last trading day thereof, which include the first intent and the second intent. The priority orders are as below: (i) with respect to any buyer, its first intent shall be firstly considered, and in case the first intent is not satisfied or not fully satisfied, the second intent shall then be considered; and (ii) with respect to any designated delivery warehouse, buyers who designate it as the first intent shall be considered first, and in case there are remaining standard warehouse receipts, buyers who designate it as the second intent shall then be considered. The declaration of intent is only valid on the then-current day.

Article 19	After the market is closed on the matching day of rolling delivery, the Exchange shall carry out the delivery matching through the system as per the following principles and steps:

The first step: collecting the standard warehouse receipts declared for delivery. The Exchange shall collect seller's standard warehouse receipts that have been declared for delivery by taking designated delivery warehouse as the unit.

The second step: matching the buyers and the designated delivery warehouses. For any designated delivery warehouse, if the aggregate position quantity held by the buyers which propose the delivery intents is smaller than or equal to the quantity of relevant standard warehouse receipts, all the buyers' intents will be fully satisfied; if the aggregate position quantity held by the buyers which propose the delivery intents is bigger than the quantity of relevant standard warehouse receipts, the buyers which will participate in the matching of delivery will be determined under the principles of "priority of matching overseas buyer (excluding the qualified foreign institutional investors and the RMB qualified foreign institutional investors (collectively referred to as the "Qualified Foreign Investors")) with bonded standard warehouse receipts, priority of matching domestic buyer with duty-paid standard warehouse receipts" and "priority in the most length of the average position period".

The average position period shall take "day" as the unit, which shall be the weighted average number of the period of each Lot of the positions. In case of the same lengths of average position periods, the priority shall be given to the buyer which has the earliest position. The specific formula is as below:

The buyer's average position period

=

∑ period of the buyer's each Lot of position

the buyer's aggregate position quantity

Article 18	In the case of rolling delivery, the seller's declaration of delivery and the buyer's declaration of intent on the matching day shall proceed as follows:

The seller declares the delivery. During the delivery month, the client which holds both standard warehouse receipts and the net positions of selling positions in the delivery month may file, through the Member, an application for delivery, and the Member may declare the delivery to the Exchange prior to 11:30 of each trading day as of the first trading day of the delivery month through the trading day immediately preceding the last trading day thereof (inclusive). The standard warehouse receipts corresponding to the proposed delivery application will be frozen, and the trading margins corresponding to its selling positions will not be collected. The Exchange will review the above application and announce the seller's application for delivery that has passed the review after 13:30 of each trading day. After the announcement, the delivery application shall not be revoked and shall only be valid on the then-current day.

If the net selling positions of the seller client are less than the positions declared by the seller client and passed the review in the matching of delivery, the Exchange will prohibit the client from making the rolling delivery declaration as the seller of such product for a period of one (1) year from the date of this declaration.

The buyer declares the intent. The buyer which holds the net positions of buying positions in the delivery month may, according to the sellers' application for delivery announced by the Exchange, declare two delivery intents to the Exchange as of the first trading day of the delivery month but prior to the market close of the trading day immediately preceding the last trading day thereof, which include the first intent and the second intent. The priority orders are as below: (i) with respect to any buyer, its first intent shall be firstly considered, and in case the first intent is not satisfied or not fully satisfied, the second intent shall then be considered; and (ii) with respect to any designated delivery warehouse, buyers who designate it as the first intent shall be considered first, and in case there are remaining standard warehouse receipts, buyers who designate it as the second intent shall then be considered. The declaration of intent is only valid on the then-current day.

Article 19	After the market is closed on the matching day of rolling delivery, the Exchange shall carry out the delivery matching through the system as per the following principles and steps:

The first step: collecting the standard warehouse receipts declared for delivery. The Exchange shall collect seller's standard warehouse receipts that have been declared for delivery by taking designated delivery warehouse as the unit.

The second step: matching the buyers and the designated delivery warehouses. For any designated delivery warehouse, if the aggregate position quantity held by the buyers which propose the delivery intents is smaller than or equal to the quantity of relevant standard warehouse receipts, all the buyers' intents will be fully satisfied; if the aggregate position quantity held by the buyers which propose the delivery intents is bigger than the quantity of relevant standard warehouse receipts, the buyers which will participate in the matching of delivery will be determined under the principles of "priority of matching overseas buyer (excluding the qualified foreign institutional investors and the RMB qualified foreign institutional investors (collectively referred to as the "Qualified Foreign Investors")) with bonded standard warehouse receipts, priority of matching domestic buyer with duty-paid standard warehouse receipts" and "priority in the most length of the average position period".

The average position period shall take "day" as the unit, which shall be the weighted average number of the period of each Lot of the positions. In case of the same lengths of average position periods, the priority shall be given to the buyer which has the earliest position. The specific formula is as below:

The buyer's average position period

=

∑ period of the buyer's each Lot of position

the buyer's aggregate position quantity

For the remaining standard warehouse receipts after satisfaction of the buyers' intents, the Exchange will then select the domestic buyers to be matched with the duty-paid standard warehouse receipts and the overseas buyers (excluding the Qualified Foreign Investors) to be matched with the bonded standard warehouse receipts under the principle of "priority in positions with the earliest building time" respectively from the position-holding buyers which have not submitted any delivery intents and those of which the delivery intents have not been satisfied; and the Exchange will then determine the designated delivery warehouses corresponding to the buyers' delivery and the quantities to be delivered in such warehouses under the principle of "minimum matching quantity". The positions in the corresponding part of the buying and selling positions of the same client number do not participate in such matching.

For the remaining standard warehouse receipts after performance of the step in the preceding paragraph, the Exchange will then select the buyers to participate in the matching under the principle of "priority in positions with the earliest building time" from the remaining position-holding buyers and the Exchange will then determine the designated delivery warehouses corresponding to the buyers' delivery and the quantities to be delivered in such warehouses under the principle of "minimum matching quantity". The positions in the corresponding part of the buying and selling positions of the same client number do not participate in such matching.

The third step: matching the buyers and the sellers. The Exchange shall carry out matching between the buyers matched with the designated delivery warehouses and the sellers holding the corresponding standard warehouse receipts under the principle of "minimum matching quantity" to determine the buyers and the sellers corresponding to the delivery. Once the matching result is determined, it may not be modified by the buyer or the seller.	For the remaining standard warehouse receipts after satisfaction of the buyers' intents, the Exchange will then select the domestic buyers to be matched with the duty-paid standard warehouse receipts and the overseas buyers (excluding the Qualified Foreign Investors) to be matched with the bonded standard warehouse receipts under the principle of "priority in positions with the earliest building time" respectively from the position-holding buyers which have not submitted any delivery intents and those of which the delivery intents have not been satisfied; and the Exchange will then determine the designated delivery warehouses corresponding to the buyers' delivery and the quantities to be delivered in such warehouses under the principle of "minimum matching quantity". The positions in the corresponding part of the buying and selling positions of the same client number do not participate in such matching.

For the remaining standard warehouse receipts after performance of the step in the preceding paragraph, the Exchange will then select the buyers to participate in the matching under the principle of "priority in positions with the earliest building time" from the remaining position-holding buyers and the Exchange will then determine the designated delivery warehouses corresponding to the buyers' delivery and the quantities to be delivered in such warehouses under the principle of "minimum matching quantity". The positions in the corresponding part of the buying and selling positions of the same client number do not participate in such matching.

The third step: matching the buyers and the sellers. The Exchange shall carry out matching between the buyers matched with the designated delivery warehouses and the sellers holding the corresponding standard warehouse receipts under the principle of "minimum matching quantity" to determine the buyers and the sellers corresponding to the delivery. Once the matching result is determined, it may not be modified by the buyer or the seller.
Article 37	When applying for registration of standard warehouse receipt, the designated delivery warehouse shall submit relevant materials and certificates of the recognized iron ore brand to the Exchange through the electronic warehouse receipt system.

In addition to the documents provided by the owner under Article 30, the designated delivery warehouse shall further upload the following documents for directly imported iron ores:

……	Article 375	When applying for registration of standard warehouse receipt, the designated delivery warehouse shall submit relevant materials and certificates of the recognized iron ore brand to the Exchange through the electronic warehouse receipt system.

In addition to the documents provided by the owner under Article 3028, the designated delivery warehouse shall further upload the following documents for directly imported iron ores:

……
Article 40	When the owner comes to pick up the commodities, the designated delivery warehouse shall provide relevant materials and certificates of the recognized iron ore brand to the owner. For directly imported iron ores, the designated delivery warehouse shall provide the documents specified under Article 37, paragraph 2 of the Detailed Rules. For iron ores processed at port, the designated delivery warehouse shall provide the documents specified under Article 37, paragraph 3 of the Detailed Rules. For domestically produced iron ores, the factory warehouse shall provide the following documents:

……	Article 4038	When the owner comes to pick up the commodities, the designated delivery warehouse shall provide relevant materials and certificates of the recognized iron ore brand to the owner. For directly imported iron ores, the designated delivery warehouse shall provide the documents specified under Article 375, paragraph 2 of the Detailed Rules. For iron ores processed at port, the designated delivery warehouse shall provide the documents specified under Article 375, paragraph 3 of the Detailed Rules. For domestically produced iron ores, the factory warehouse shall provide the following documents:

……
Article 51	Where the factory warehouse fails to complete the consignment of all the commodities on time, it shall compensate the owner in addition to the compensation provided in Article 50 hereof. Amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities that should have been consigned according to the total quantity of the commodities × 5%. The following procedures shall also be followed in case of such failure:

……	Article 5149	Where the factory warehouse fails to complete the consignment of all the commodities on time, it shall compensate the owner in addition to the compensation provided in Article 5048 hereof. Amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities that should have been consigned according to the total quantity of the commodities × 5%. The following procedures shall also be followed in case of such failure:

……
Article 52	In the event of any default of the factory warehouse described in Article 50 or 51 hereof, the factory warehouse shall pay the compensation to the owner first. Where the factory warehouse fails to pay the compensation in whole or in part, the Exchange will handle such situation subject to the relevant provisions in the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.	Article 520	In the event of any default of the factory warehouse described in Article 5048 or 5149 hereof, the factory warehouse shall pay the compensation to the owner first. Where the factory warehouse fails to pay the compensation in whole or in part, the Exchange will handle such situation subject to the relevant provisions in the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.
Article 62	The physicals seller Member shall deliver to the Exchange the common VAT invoice prior to the market close on the approval day of the Bonded EFPs. In case the physicals seller Member fails to deliver the common VAT invoice prior to the market close of the seventh (7th) trading day after the approval day of the Bonded EFPs, the Exchange shall withhold the corresponding amount equal to five percent (5%) of the physicals seller Member's payment after the market close on the then-current day, and collect the late fees from or confiscate such withholding amount in accordance with Article 25 of the Detailed Rules.

……	Article 620	The physicals seller Member shall deliver to the Exchange the common VAT invoice prior to the market close on the approval day of the Bonded EFPs. In case the physicals seller Member fails to deliver the common VAT invoice prior to the market close of the seventh (7th) trading day after the approval day of the Bonded EFPs, the Exchange shall withhold the corresponding amount equal to five percent (5%) of the physicals seller Member's payment after the market close on the then-current day, and collect the late fees from or confiscate such withholding amount in accordance with Article 253 of the Detailed Rules.

……
Article 65	……

If the Member of seller fails to deliver the common VAT invoice prior to the market close of the seventh (7th) trading day after the handover day, the Exchange shall withhold the corresponding amount equal to five percent (5%) of the seller's payments after the market close on the then-current day, and collect the late fees from or confiscate such withholding amount in accordance with Article 25 of the Detailed Rules.	Article 653	……

If the Member of seller fails to deliver the common VAT invoice prior to the market close of the seventh (7th) trading day after the handover day, the Exchange shall withhold the corresponding amount equal to five percent (5%) of the seller's payments after the market close on the then-current day, and collect the late fees from or confiscate such withholding amount in accordance with Article 253 of the Detailed Rules.
Article 68	……

If the seller Member fails to deliver the common VAT invoice prior to the market close of the seventh (7th) trading days after the last delivery day, the Exchange shall withhold the corresponding amount equal to five percent (5%) of the seller's payments after the market close on the then-current day, and collect the late fees from or confiscate such withholding amount in accordance with Article 25 of the Detailed Rules.	Article 686	……

If the seller Member fails to deliver the common VAT invoice prior to the market close of the seventh (7th) trading days after the last delivery day, the Exchange shall withhold the corresponding amount equal to five percent (5%) of the seller's payments after the market close on the then-current day, and collect the late fees from or confiscate such withholding amount in accordance with Article 253 of the Detailed Rules.
Chapter V Bill of Lading Delivery	Chapter V Bill of Lading Delivery
Article	75 If the Member of seller fails to deliver the common VAT invoice prior to the market close of the seventh (7th) trading day after the handover day, the Exchange shall withhold the corresponding amount equal to five percent (5%) of the seller's payments after the market close on the then-current day, and collect the late fees from or confiscate such withholding amount in accordance with Article 25 of the Detailed Rules.	Article	75 If the Member of seller fails to deliver the common VAT invoice prior to the market close of the seventh (7th) trading day after the handover day, the Exchange shall withhold the corresponding amount equal to five percent (5%) of the seller's payments after the market close on the then-current day, and collect the late fees from or confiscate such withholding amount in accordance with Article 25 of the Detailed Rules.
Article	76 On the day of notice, the seller Member will send the information including delivery site, expected date of arrival, brand, manufacturer, quantity, vessel name, bill of lading number, status (duty-paid or bonded) of commodities and other information to the Exchange through the electronic warehouse receipt system. After market close on the day of notice, the Exchange will send such information to the buyer Member through the electronic warehouse receipt system.	Article	76 On the day of notice, the seller Member will send the information including delivery site, expected date of arrival, brand, manufacturer, quantity, vessel name, bill of lading number, status (duty-paid or bonded) of commodities and other information to the Exchange through the electronic warehouse receipt system. After market close on the day of notice, the Exchange will send such information to the buyer Member through the electronic warehouse receipt system.
Article	77 When both the buyer and the seller come to supervise the delivery on site, the seller shall provide the relevant import documents of iron ore to the buyer for verification of the iron ore brand.

In the event that the commodities are being loaded off the vessel when the buyer and the seller come to supervise the delivery on site, the seller shall provide the following documents among others:

certificate of analysis issued by the manufacturer which shall set out brand, quality, loading port, vessel name, bill of lading date, manufacturer and other information and shall be signed by the authorized person of the manufacturer, or a photocopy of such certificate of analysis certified by the buyer to be consistent with the original; or certificate of analysis issued by the inspection agency that has conducted quality inspection of the commodities at shipment which shall set out brand, quality, loading port, vessel name, bill of lading date, name of inspection agency and other information, and shall be signed by the authorized person of the inspection agency, or the photocopy of such certificate of analysis certified by the buyer to be consistent with the original; and

other documents required by the Exchange.

In the event that the commodities have been in port when the buyer and the seller come to supervise the delivery on site, the seller shall provide the following documents among others for directly imported iron ore:

certificate of analysis issued by the manufacturer which shall set out brand, quality, loading port, vessel name, bill of lading date, manufacturer and other information and shall be signed by the authorized person of the manufacturer, or a photocopy of such certificate of analysis; or certificate of analysis issued by the inspection agency that has conducted quality inspection of the commodities at shipment which shall set out brand, quality, loading port, vessel name, bill of lading date, name of inspection agency and other information, and shall be signed by the authorized person of the inspection agency, or a photocopy of such certificate of analysis;

title certificate issued by the freight forwarder affixed with its business seal, which shall set out brand, manufacturer, quantity, vessel name, voyage number or date of arrival, bill of lading number, unloading port, owner of commodities and other information;

delivery order issued by the shipping agent affixed with its business seal, which shall set out brand, quantity, vessel name, voyage number or date of arrival, bill of lading number, unloading port and other information; or a photocopy of the delivery order certified by the port to be consistent with the original and affixed with business seal of the port, with "consistent with the original" written on it;

stack position statement issued by the unloading port affixed with its business seal, which shall set out stack number, quantity, vessel name, voyage number or date of arrival, bill of lading number, freight forwarder, shipping agent and other information; and

other documents required by the Exchange.

For iron ore processed at port, the seller shall provide the following documents including but not limited to:

certificate of analysis issued by the manufacturer which shall set out brand, quality, delivery order number, processing port, manufacturer and other information and shall be signed by the authorized person of the manufacturer or affixed with company seal of the manufacturer, or a photocopy of such certificate of analysis;

title certificate issued by the freight forwarder affixed with its business seal, which shall set out brand, manufacturer, quantity, delivery order number, processing port, owner of commodities and other information;

delivery order issued by the manufacturer signed by its authorize person or affixed with its company seal, which shall set out brand, quantity, delivery order number, processing port and other information; or the photocopy of such delivery order certified by the port to be consistent with the original and affixed with business seal of the port, with "consistent with the original" written on it;

stack position statement issued by the processing port affixed with its business seal, which shall set out stack number, quantity, delivery order number, freight forwarder, shipping agent and others; and

other documents required by the Exchange.	Article	77 When both the buyer and the seller come to supervise the delivery on site, the seller shall provide the relevant import documents of iron ore to the buyer for verification of the iron ore brand.

In the event that the commodities are being loaded off the vessel when the buyer and the seller come to supervise the delivery on site, the seller shall provide the following documents among others:

certificate of analysis issued by the manufacturer which shall set out brand, quality, loading port, vessel name, bill of lading date, manufacturer and other information and shall be signed by the authorized person of the manufacturer, or a photocopy of such certificate of analysis certified by the buyer to be consistent with the original; or certificate of analysis issued by the inspection agency that has conducted quality inspection of the commodities at shipment which shall set out brand, quality, loading port, vessel name, bill of lading date, name of inspection agency and other information, and shall be signed by the authorized person of the inspection agency, or the photocopy of such certificate of analysis certified by the buyer to be consistent with the original; and

other documents required by the Exchange.

In the event that the commodities have been in port when the buyer and the seller come to supervise the delivery on site, the seller shall provide the following documents among others for directly imported iron ore:

certificate of analysis issued by the manufacturer which shall set out brand, quality, loading port, vessel name, bill of lading date, manufacturer and other information and shall be signed by the authorized person of the manufacturer, or a photocopy of such certificate of analysis; or certificate of analysis issued by the inspection agency that has conducted quality inspection of the commodities at shipment which shall set out brand, quality, loading port, vessel name, bill of lading date, name of inspection agency and other information, and shall be signed by the authorized person of the inspection agency, or a photocopy of such certificate of analysis;

title certificate issued by the freight forwarder affixed with its business seal, which shall set out brand, manufacturer, quantity, vessel name, voyage number or date of arrival, bill of lading number, unloading port, owner of commodities and other information;

delivery order issued by the shipping agent affixed with its business seal, which shall set out brand, quantity, vessel name, voyage number or date of arrival, bill of lading number, unloading port and other information; or a photocopy of the delivery order certified by the port to be consistent with the original and affixed with business seal of the port, with "consistent with the original" written on it;

stack position statement issued by the unloading port affixed with its business seal, which shall set out stack number, quantity, vessel name, voyage number or date of arrival, bill of lading number, freight forwarder, shipping agent and other information; and

other documents required by the Exchange.

For iron ore processed at port, the seller shall provide the following documents including but not limited to:

certificate of analysis issued by the manufacturer which shall set out brand, quality, delivery order number, processing port, manufacturer and other information and shall be signed by the authorized person of the manufacturer or affixed with company seal of the manufacturer, or a photocopy of such certificate of analysis;

title certificate issued by the freight forwarder affixed with its business seal, which shall set out brand, manufacturer, quantity, delivery order number, processing port, owner of commodities and other information;

delivery order issued by the manufacturer signed by its authorize person or affixed with its company seal, which shall set out brand, quantity, delivery order number, processing port and other information; or the photocopy of such delivery order certified by the port to be consistent with the original and affixed with business seal of the port, with "consistent with the original" written on it;

stack position statement issued by the processing port affixed with its business seal, which shall set out stack number, quantity, delivery order number, freight forwarder, shipping agent and others; and

other documents required by the Exchange.
Article	78 For handing-over of duty-paid commodities, the buyer, the seller and the port shall jointly confirm on handing-over of the commodities after completion of brand verification and quality inspection by the buyer, and completion of customs clearance by the seller; for handing-over of bonded commodities, the buyer, the seller and the port shall jointly confirm on handing-over of the commodities after completion of brand verification and quality inspection by the buyer.	Article	78 For handing-over of duty-paid commodities, the buyer, the seller and the port shall jointly confirm on handing-over of the commodities after completion of brand verification and quality inspection by the buyer, and completion of customs clearance by the seller; for handing-over of bonded commodities, the buyer, the seller and the port shall jointly confirm on handing-over of the commodities after completion of brand verification and quality inspection by the buyer.
Article	79 If the owner has objection on brand of the commodities, the owner may raise such objection to the Exchange within seven (7) working days following completion of sampling and prior to the trading day immediately preceding the last trading day.	Article	79 If the owner has objection on brand of the commodities, the owner may raise such objection to the Exchange within seven (7) working days following completion of sampling and prior to the trading day immediately preceding the last trading day.
Article	80 In the event that the Exchange has not received the Notice on Confirmation of Handing-over before market close on the last trading day, and the parties fail to confirm on handing-over of the commodities on time due to dispute on iron ore brand, such situation should be processed as below:

if the Exchange determines that the iron ore brand is authentic, the parties shall continue the delivery process; or

if the Exchange determines that the iron ore brand is fake, the seller shall pay to the buyer punitive liquidated damages equivalent to twenty percent (20%) of the contract value calculated by delivery settlement price, refund the advance payment for delivery to the buyer, and the delivery will be terminated.	Article	80 In the event that the Exchange has not received the Notice on Confirmation of Handing-over before market close on the last trading day, and the parties fail to confirm on handing-over of the commodities on time due to dispute on iron ore brand, such situation should be processed as below:

if the Exchange determines that the iron ore brand is authentic, the parties shall continue the delivery process; or

if the Exchange determines that the iron ore brand is fake, the seller shall pay to the buyer punitive liquidated damages equivalent to twenty percent (20%) of the contract value calculated by delivery settlement price, refund the advance payment for delivery to the buyer, and the delivery will be terminated.

14. Comparison Table of the Amendment of the Detailed Rules of Egg Futures of Dalian Commodity Exchange

(Contents newly added are in shade; contents deleted are marked with double strikethrough.)

Original Articles	Amended Articles
Chapter III Delivery and Clearing

Section I General Provisions	Chapter III Delivery and Clearing

Section I General Provisions
Article 16	The egg futures contract applies the exchange of futures for physicals (the "EFP") delivery, daily selective delivery and one-off delivery.

The EFPs for egg futures contract shall only be applied through physicals other than standard warehouse receipts.

The daily selective delivery may be carried out through the standard warehouse receipt delivery and FOT delivery.

The one-off delivery shall only be carried out by the standard warehouse receipt delivery.

With respect to the EFPs delivery, daily selective delivery and one-off delivery of the eggs, the specific processes shall be subject to the applicable provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange in addition to the applicable provisions of the Detailed Rules.	Article 16	The egg futures contract applies the exchange of futures for physicals (the "EFP") delivery, rolling daily selective delivery and one-off delivery.

The EFPs for egg futures contract shall only be applied through physicals other than standard warehouse receipts.

The rolling daily selective delivery may be carried out through the standard warehouse receipt delivery and FOT delivery.

The one-off delivery shall only be carried out by the standard warehouse receipt delivery.

With respect to the EFPs delivery, rolling daily selective delivery and one-off delivery of the eggs, the specific processes shall be subject to the applicable provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange in addition to the applicable provisions of the Detailed Rules.
Article 17	For those participating in the daily selective delivery, if the standard warehouse receipt delivery is adopted, the corresponding standard warehouse receipt shall be frozen after the seller's client holding the standard warehouse receipt submits the delivery application. Among them, for those applying for delivery by the standard warehouse receipt of storage warehouse, the trading margins corresponding to their selling positions shall not be refunded. After the market close of the matching day, the trading margins which match the selling positions shall be transformed to be the delivery margins; for those applying for delivery by standard factory warehouse receipt, the trading margins corresponding to the selling positions shall be refunded.

If the FOT delivery is adopted, and the seller's client applies for the delivery at the FOT delivery site with the factory warehouse qualification, such application shall be confirmed by the FOT delivery site; if the seller's client applies for the delivery at other FOT delivery sites, the seller's client shall have the FOT delivery qualification. The trading margins corresponding to the selling positions of the FOT delivery shall not be refunded. After the market close of the matching day, the trading margins corresponding to the selling positions shall be transformed to be the delivery margins.	Article 17	For those participating in the rolling daily selective delivery, if the standard warehouse receipt delivery is adopted, the corresponding standard warehouse receipt shall be frozen after the seller's client holding the standard warehouse receipt submits the delivery application, A among them, for those applying for delivery by the standard warehouse receipt of storage warehouse, the trading margins corresponding to their selling positions shall not be refunded. After the market close of the matching day, the trading margins which match the selling positions shall be transformed to be the delivery margins; for those applying for delivery by standard factory warehouse receipt, the trading margins corresponding to the selling positions shall be refunded.

If the FOT delivery is adopted, and the seller's client applies for the delivery at the FOT delivery site with the factory warehouse qualification, such application shall be confirmed by the FOT delivery site; if the seller's client applies for the delivery at other FOT delivery sites, the seller's client shall have the FOT delivery qualification. The trading margins corresponding to the selling positions of the FOT delivery shall not be refunded. After the market close of the matching day, the trading margins corresponding to the selling positions shall be transformed to be the delivery margins.
Article 40	The earliest date of the application for registration of standard warehouse receipt of the eggs shall be the first trading day of the delivery month. The period of the warehouse receipt registration day from the inspection report issuance day shall not exceed two (2) trading days.

For the standard warehouse receipt registered before the market close on the trading day immediately preceding the last trading day, the seller may use the standard warehouse receipt to participate in the daily selective delivery, and shall declare the delivery on the warehouse receipt registration day or before the market close on the first trading day after the warehouse receipt registration day. If the delivery is matched successfully, the corresponding standard warehouse receipt shall be immediately deregistered after the market close on the handover day and within the then-current day after the Exchange transfers the standard warehouse receipt delivered by the seller to the corresponding matched buyer. If the seller fails to participate in the daily selective delivery or if the delivery is declared but does not conform to the delivery matching condition, the corresponding standard warehouse receipt shall be deregistered after the market close on the first trading day following the warehouse receipt registration day and within the then-current day.

For the standard warehouse receipt registered after the market close on the trading day immediately preceding the final trading day, the seller may use the standard warehouse receipt to participate in the one-off delivery, and all standard warehouse receipts shall be deregistered after the market close on the last delivery day and within the then-current day.	Article 40	The earliest date of the application for registration of standard warehouse receipt of the eggs shall be the first trading day of the delivery month. The period of the warehouse receipt registration day from the inspection report issuance day shall not exceed two (2) trading days.

For the standard warehouse receipt registered before the market close on the trading day immediately preceding the last trading day, the seller may use the standard warehouse receipt to participate in the rolling daily selective delivery, and shall declare the delivery on the warehouse receipt registration day or before the market close on the first trading day after the warehouse receipt registration day. If the delivery is matched successfully, the corresponding standard warehouse receipt shall be immediately deregistered after the market close on the handover day and within the then-current day after the Exchange transfers the standard warehouse receipt delivered by the seller to the corresponding matched buyer. If the seller fails to participate in the rolling daily selective delivery or if the delivery is declared but does not conform to the delivery matching condition, the corresponding standard warehouse receipt shall be deregistered after the market close on the first trading day following the warehouse receipt registration day and within the then-current day.

For the standard warehouse receipt registered after the market close on the trading day immediately preceding the final trading day, the seller may use the standard warehouse receipt to participate in the one-off delivery, and all standard warehouse receipts shall be deregistered after the market close on the last delivery day and within the then-current day.
Article 78	After release of the epidemic information, the standard warehouse receipt delivery in the epidemic area shall be disposed of as follows:

in case the information of identification of the epidemic area is released prior to the market close on the matching day, with respect to the daily selective delivery, the standard warehouse receipt in the epidemic area shall not participate in the delivery matching, and shall be deregistered by the Exchange; with respect to the one-off delivery, the standard warehouse receipt in the epidemic area shall participate in the delivery matching, after which the delivery shall be terminated, and the Exchange shall, after the market close on the matching day, refund the delivery margin to the seller Member and the delivery advance to the buyer Member;

……

in case the information of identification of the epidemic area is released after the market close on the handover day, the Exchange shall refund the delivery margin to the seller Member after the market close on the seventh trading day following the handover day, and make eighty percent (80%) of the payments to the seller Member, and the remaining payments shall be fully settled after the seller Member provides the common VAT invoice; and

……	Article 78	After release of the epidemic information, the standard warehouse receipt delivery in the epidemic area shall be disposed of as follows:

in case the information of identification of the epidemic area is released prior to the market close on the matching day, with respect to the rolling daily selective delivery, the standard warehouse receipt in the epidemic area shall not participate in the delivery matching, and shall be deregistered by the Exchange; with respect to the one-off delivery, the standard warehouse receipt in the epidemic area shall participate in the delivery matching, after which the delivery shall be terminated, and the Exchange shall, after the market close on the matching day, refund the delivery margin to the seller Member and the delivery advance to the buyer Member;

……

in case the information of identification of the epidemic area is released after the market close on the handover day, the Exchange shall refund the delivery margin to the seller Member after the market close on the seventh trading day following the handover day, and make eighty percent (80%) of the payments to the seller Member, and the remaining payments shall be fully settled after the seller Member providesdelivers the common VAT invoice; and

……

15. Comparison Table of the Amendment of the Detailed Rules of Fiberboard Futures of Dalian Commodity Exchange

(Contents newly added are in shade; contents deleted are marked with doubled strikethrough; where any clause is added or deleted, the number of other clauses shall be changed in order accordingly.)

Original Articles	Amended Articles
Chapter III Delivery and Clearing

Section I General Provisions	Chapter III Delivery and Clearing

Section I General Provisions
Article 16	The fiberboard futures contract applies the exchange of futures for physicals delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the Detailed Rules and the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange except as stipulated otherwise in the Detailed Rules.	Article 16	The fiberboard futures contract applies the exchange of futures for physicals delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the Detailed Rules and the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange except as stipulated otherwise in the Detailed Rules.

The one-off delivery shall only be carried out by the standard warehouse receipt delivery.
Article 17	In case of rolling delivery, the buyer which declares the delivery intent may choose to accept the allocation, or declare two delivery intents at most, including the first intent and the second intent.

After the market close of the matching day, the Exchange shall match the buyer and seller which have declared delivery intents through the system. The Exchange will first determine the order of the buyers to participate in the matching under the principle of the "priority in intent declaration time", if any buyer chooses to accept the allocation, the Exchange will aggregate the quantities of standard warehouse receipts declared by the seller for delivery in unit of designated delivery warehouse, and then match the buyers with the designated delivery warehouses under the principle of "the minimum matching quantity" to determine the designated delivery warehouses corresponding to the buyer's delivery and the quantities to be delivered in such warehouse; if the buyer does not accept the allocation, its first intent will be first considered, and its second intent will be considered only when its first intent is not satisfied in full or in part. Thereafter, the Exchange will carry out matching between the buyers that have been matched with designated delivery warehouses and the sellers that have applied for delivery and hold the standard warehouse receipts of such designated delivery warehouses under the principle of "the minimum matching quantity" to determine the corresponding buyers and sellers for the delivery. Once the matching result is determined, it cannot be modified by the buyer or the seller. Intents of buyers or sellers that have not been successfully matched will be deemed invalid by the system after market close on the then-current day.	Article 17	In case of rolling delivery, the buyer which declares the delivery intent may choose to accept the allocation, or declare two delivery intents at most, including the first intent and the second intent.

After the market close of the matching day, the Exchange shall match the buyer and seller which have declared delivery intents through the system. The Exchange will first determine the order of the buyers to participate in the matching under the principle of the "priority in intent declaration time", if any buyer chooses to accept the allocation, the Exchange will aggregate the quantities of standard warehouse receipts declared by the seller for delivery in unit of designated delivery warehouse, and then match the buyers with the designated delivery warehouses under the principle of "the minimum matching quantity" to determine the designated delivery warehouses corresponding to the buyer's delivery and the quantities to be delivered in such warehouse; if the buyer does not accept the allocation, its first intent will be first considered, and its second intent will be considered only when its first intent is not satisfied in full or in part. Thereafter, the Exchange will carry out matching between the buyers that have been matched with designated delivery warehouses and the sellers that have applied for delivery and hold the standard warehouse receipts of such designated delivery warehouses under the principle of "the minimum matching quantity" to determine the corresponding buyers and sellers for the delivery. Once the matching result is determined, it cannot be modified by the buyer or the seller. Intents of buyers or sellers that have not been successfully matched will be deemed invalid by the system after market close on the then-current day.
Article 37	……

If the owner has any objection over the quality of the commodities to be loaded out of the factory warehouse, it shall firstly negotiate with the factory warehouse for settlement. If the negotiation fails, the owner shall, within ten (10) working days (exclusive of the tenth working day) after the samples are sealed by it according to the provisions, file in writing an application for re-inspection with the Exchange. The Exchange shall entrust a designated quality inspection agency to carry out the re-inspection over the reserved samples, and the sample inspection result shall be the basis for any dispute settlement. Where there is no provision herein, the relevant provisions in the Clause 1 of Article 36 hereof shall be applicable by reference.	Article 376	……

If the owner has any objection over the quality of the commodities to be loaded out of the factory warehouse, it shall firstly negotiate with the factory warehouse for settlement. If the negotiation fails, the owner shall, within ten (10) working days (exclusive of the tenth working day) after the samples are sealed by it according to the provisions, file in writing an application for re-inspection with the Exchange. The Exchange shall entrust a designated quality inspection agency to carry out the re-inspection over the reserved samples, and the sample inspection result shall be the basis for any dispute settlement. Where there is no provision herein, the relevant provisions in the Clause 1 of Article 365 hereof shall be applicable by reference.
Article 43	Where the factory warehouse fails to timely complete the consignment of all the commodities, the factory warehouse shall, in addition to the compensation provided in Article 42 of the Detailed Rules, compensate the owner, the amount of such compensation for products = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 5%, the following procedures shall apply to such failure:

……	Article 432 Where the factory warehouse fails to timely complete the consignment of all the commodities, the factory warehouse shall, in addition to the compensation provided in Article 421 of the Detailed Rules, compensate the owner, the amount of such compensation for products = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 5%, the following procedures shall apply to such failure:

……
Article 44	In the event of any violation by the factory warehouse described in Article 42 or 43 of the Detailed Rules, the compensation shall firstly be paid to the owner by the factory warehouse. Where the factory warehouse fails to pay such compensation or the amount of compensation is insufficient, shall be handled by the Exchange subject to the applicable provisions of the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.	Article 443	In the event of any violation by the factory warehouse described in Article 421 or 432 of the Detailed Rules, the compensation shall firstly be paid to the owner by the factory warehouse. Where the factory warehouse fails to pay such compensation or the amount of compensation is insufficient, shall be handled by the Exchange subject to the applicable provisions of the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.

16. Comparison Table of the Amendment of the Detailed Rules of Blockboard Futures of Dalian Commodity Exchange

(Contents newly added are in shade; contents deleted are marked with double strikethrough.)

Original Articles	Amended Articles
Chapter III Delivery and Clearing

Section I General Provisions	Chapter III Delivery and Clearing

Section I General Provisions
Article 16	The blockboard futures contract applies the exchange of futures for physicals delivery, the daily selective delivery and one-off delivery, in addition to the provisions of this Detailed Rules, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.	Article 16	The blockboard futures contract applies the exchange of futures for physicals delivery, the rollingdaily selective delivery and one-off delivery, in addition to the provisions of this Detailed Rules, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

The rolling delivery may be carried out by the standard warehouse receipt delivery or FOT delivery.

The one-off delivery shall only be carried out by the standard warehouse receipt delivery.
Article 17	For those participating in daily selective delivery, if the standard warehouse receipt delivery is adopted, the corresponding standard warehouse receipt shall be frozen after the application of delivery from the seller holding the standard warehouse receipt, and the trading margins corresponding to its selling positions shall be refunded after the market close on the matching day; after the market close on the handover day, the Exchange will transfer the standard warehouse receipt delivered by the seller to the corresponding matched buyer and make eighty percent (80%) of the payments for goods to the seller Member, and the remaining payments shall be fully settled after the seller Member provides the VAT special invoice; the seller Member shall provide the VAT special invoice to the buyer Member within seven (7) trading days after the matching day.

If the FOT delivery is adopted, the seller's application for delivery shall be confirmed by the designated FOT delivery site; after the market close on the matching day, the trading margins corresponding to the seller Member's matched selling positions will be transformed to be the delivery margins.	Article 17	For those participating in rolling daily selective delivery, if the standard warehouse receipt delivery is adopted, the corresponding standard warehouse receipt shall be frozen after the application of delivery from the seller holding the standard warehouse receipt, and the trading margins corresponding to its selling positions shall be refunded after the market close on the matching day; after the market close on the handover day, the Exchange will transfer the standard warehouse receipt delivered by the seller to the corresponding matched buyer and make eighty percent (80%) of the payments for goods to the seller Member, and the remaining payments shall be fully settled after the seller Member provides the VAT special invoice; the seller Member shall provide the VAT special invoice to the buyer Member within seven (7) trading days after the matching day.

Iif the FOT delivery is adopted, the seller's application for delivery shall be confirmed by the designated FOT delivery site; after the market close on the matching day, the trading margins corresponding to the seller Member's matched selling positions will be transformed to be the delivery margins.

17. Comparison Table of the Amendment of the Detailed Rules of Polypropylene Futures of Dalian Commodity Exchange

(Contents newly added are in shade.)

Original Articles	Amended Articles
Chapter III Delivery and Clearing

Section I General Provisions	Chapter III Delivery and Clearing

Section I General Provisions
Article 16	The polypropylene futures contract applies the exchange of futures for physicals delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.	Article 16	The polypropylene futures contract applies the exchange of futures for physicals delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

The one-off delivery shall only be carried out by the standard warehouse receipt delivery.

18. Comparison Table of the Amendment of the Detailed Rules of Corn Starch Futures of Dalian Commodity Exchange

(Contents newly added are in shade.)

Original Articles	Amended Articles
Chapter III Delivery and Clearing

Section I General Provisions	Chapter III Delivery and Clearing

Section I General Provisions
Article 16	The corn starch futures contract applies the exchange of futures for physicals delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.	Article 16	The corn starch futures contract applies the exchange of futures for physicals delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

The rolling delivery and the one-off delivery shall only be carried out by the standard warehouse receipt delivery.

19. Comparison Table of the Amendment of the Detailed Rules of Ethylene Glycol Futures of Dalian Commodity Exchange

(Contents newly added are in shade.)

Original Articles	Amended Articles
Chapter III Delivery and Clearing

Section I General Provisions	Chapter III Delivery and Clearing

Section I General Provisions
Article 16	The ethylene glycol futures contract applies the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery. The ethylene glycol futures contract may apply the bonded delivery.

When using the bonded standard warehouse receipts for the EFPs delivery, rolling delivery and one-off delivery, the applicable provisions in the Detailed Rules shall apply.

When using the duty-paid standard warehouse receipts for the EFPs delivery, rolling delivery and one-off delivery, the applicable provisions in the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange shall apply.	Article 16	The ethylene glycol futures contract applies the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery. The ethylene glycol futures contract may apply the bonded delivery.

The rolling delivery and the one-off delivery shall only be carried out by the standard warehouse receipt delivery.

When using the bonded standard warehouse receipts for the EFPs delivery, rolling delivery and one-off delivery, the applicable provisions in the Detailed Rules shall apply.

When using the duty-paid standard warehouse receipts for the EFPs delivery, rolling delivery and one-off delivery, the applicable provisions in the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange shall apply.

20. Comparison Table of the Amendment of the Detailed Rules of Polished Round-grained Rice Futures of Dalian Commodity Exchange

(Contents newly added are in shade.)

Original Articles	Amended Articles
Chapter III Delivery and Clearing

Section I General Provisions	Chapter III Delivery and Clearing

Section I General Provisions
Article 16	The polished round-grained rice futures contract may apply the exchange of futures for physicals delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.	Article 16	The polished round-grained rice futures contract may apply the exchange of futures for physicals delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

The rolling delivery and the one-off delivery shall only be carried out by the standard warehouse receipt delivery.

21. Comparison Table of the Amendment of the Detailed Rules of Ethenylbenzene Futures of Dalian Commodity Exchange

(Contents newly added are in shade.)

Original Articles	Amended Articles
Chapter III Delivery and Clearing

Section I General Provisions	Chapter III Delivery and Clearing

Section I General Provisions
Article 16	The ethenylbenzene futures contract applies the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange except stipulated otherwise in the Detailed Rules in addition to the applicable provisions of the Detailed Rules.	Article 16	The ethenylbenzene futures contract applies the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange except stipulated otherwise in the Detailed Rules in addition to the applicable provisions of the Detailed Rules.

The rolling delivery and the one-off delivery shall only be carried out by the standard warehouse receipt delivery.

22. Comparison Table of the Amendment of the Detailed Rules of Liquefied Petroleum Gas Futures of Dalian Commodity Exchange

(Contents newly added are in shade; contents deleted are marked with doubled strikethrough; where any clause is added or deleted, the number of other clauses shall be changed in order accordingly.)

Original Articles	Amended Articles
Chapter III Delivery and Clearing

Section I General Provisions	Chapter III Delivery and Clearing

Section I General Provisions
Article 16	The liquefied petroleum gas futures contract applies the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange except as stipulated otherwise in the Detailed Rules.	Article 16	The liquefied petroleum gas futures contract applies the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange except as stipulated otherwise in the Detailed Rules.

The rolling delivery and the one-off delivery shall only be carried out by the standard warehouse receipt delivery.
Article 18	In the case of rolling delivery, the seller's declaration of delivery and the buyer's declaration of intent on the matching day shall proceed as follows:

The seller declares the delivery. During the delivery month, the client which holds both standard warehouse receipts and the net positions of selling positions in the delivery month may file, through the Member, an application for delivery whose number cannot exceed its net selling position number, and the Member may declare the delivery to the Exchange prior to 11:30 of each trading day as of the first trading day of the delivery month but prior to the trading day immediately preceding the last trading day thereof. The standard warehouse receipts corresponding to the proposed delivery application will be frozen, and the trading margins corresponding to its selling positions will not be re-collected. The Exchange will review the above application and announce the seller's application for delivery that has passed the review after 13:30 of each trading day. After the announcement, the delivery application shall not be revoked and shall only be valid on the then-current day.

If the net selling positions of the seller client are less than the positions declared by the seller client and passed the review in the matching of delivery, the Exchange will prohibit the client from making the rolling delivery declaration as the seller of the relevant product for a period of one (1) year from the date of this declaration.

The buyer declares the intent. The buyer which holds the net positions of buying positions in the delivery month may, according to the sellers' application for delivery announced by the Exchange, declare two delivery intents to the Exchange as of the first trading day of the delivery month but prior to the market close of the trading day immediately preceding the last trading day thereof, which include the first intent and the second intent. The priority orders are as below: (i) with respect to any buyer, its first intent shall be firstly considered, and in case the first intent is not satisfied or not fully satisfied, the second intent shall then be considered; and (ii) with respect to any designated delivery warehouse, it shall firstly be considered as the buyer of the first intent, and in case there are remaining standard warehouse receipts, the warehouse shall be considered as the buyer of the second intent. The declaration of intent is only valid on the then-current day.

Article 19	After the market is closed on the matching day, the Exchange shall carry out the delivery matching through the system as per the following principles and steps:

The first step: collecting the standard warehouse receipts declared for delivery. The Exchange shall collect seller's standard warehouse receipts that have been declared for delivery by taking warehouse as the unit.

The second step: matching the buyers and the designated delivery warehouses. For any designated delivery warehouse, if the aggregate position quantity held by the buyers which propose the delivery intents is smaller than or equal to the quantity of relevant standard warehouse receipts, all the buyers' intents will be fully satisfied; if the aggregate position quantity held by the buyers which propose the delivery intents is bigger than the quantity of relevant standard warehouse receipts, the buyers which will participate in the matching of delivery will be determined under the principle of "priority in the most length of the average position period".

The average position period shall take "day" as the unit, which shall be the weighted average number of the period of each Lot of the positions. In case of the same lengths of average position periods, the priority shall be given to the buyer which has the earliest position. The specific formula is as below:

The buyer's average position period

=

∑ period of the buyer's each Lot of position

the buyer's aggregate position quantity

For the remaining standard warehouse receipts after satisfaction of the buyers' intents, the Exchange will then select the buyers to participate in the matching under the principle of "priority in positions with the earliest building time" from the position-holding buyers which have not submitted any delivery intents and those of which the delivery intents have not been satisfied; and the Exchange will then determine the designated delivery warehouses corresponding to the buyers' delivery and the quantities to be delivered in such warehouses under the principle of "minimum matching quantity". The positions in the corresponding part of the buying and selling positions of the same client number do not participate in such matching.

The third step: matching the buyers and the sellers. The Exchange shall carry out matching between the buyers matched with the designated delivery warehouses and the sellers holding the corresponding standard warehouse receipts under the principle of "minimum matching quantity" to determine the buyers and the sellers corresponding to the delivery. Once the matching result is determined, it may not be modified by the buyer or the seller.	Article 18	In the case of rolling delivery, the seller's declaration of delivery and the buyer's declaration of intent on the matching day shall proceed as follows:

The seller declares the delivery. During the delivery month, the client which holds both standard warehouse receipts and the net positions of selling positions in the delivery month may file, through the Member, an application for delivery whose number cannot exceed its net selling position number, and the Member may declare the delivery to the Exchange prior to 11:30 of each trading day as of the first trading day of the delivery month but prior to the trading day immediately preceding the last trading day thereof. The standard warehouse receipts corresponding to the proposed delivery application will be frozen, and the trading margins corresponding to its selling positions will not be re-collected. The Exchange will review the above application and announce the seller's application for delivery that has passed the review after 13:30 of each trading day. After the announcement, the delivery application shall not be revoked and shall only be valid on the then-current day.

If the net selling positions of the seller client are less than the positions declared by the seller client and passed the review in the matching of delivery, the Exchange will prohibit the client from making the rolling delivery declaration as the seller of the relevant product for a period of one (1) year from the date of this declaration.

The buyer declares the intent. The buyer which holds the net positions of buying positions in the delivery month may, according to the sellers' application for delivery announced by the Exchange, declare two delivery intents to the Exchange as of the first trading day of the delivery month but prior to the market close of the trading day immediately preceding the last trading day thereof, which include the first intent and the second intent. The priority orders are as below: (i) with respect to any buyer, its first intent shall be firstly considered, and in case the first intent is not satisfied or not fully satisfied, the second intent shall then be considered; and (ii) with respect to any designated delivery warehouse, it shall firstly be considered as the buyer of the first intent, and in case there are remaining standard warehouse receipts, the warehouse shall be considered as the buyer of the second intent. The declaration of intent is only valid on the then-current day.

Article 19	After the market is closed on the matching day, the Exchange shall carry out the delivery matching through the system as per the following principles and steps:

The first step: collecting the standard warehouse receipts declared for delivery. The Exchange shall collect seller's standard warehouse receipts that have been declared for delivery by taking warehouse as the unit.

The second step: matching the buyers and the designated delivery warehouses. For any designated delivery warehouse, if the aggregate position quantity held by the buyers which propose the delivery intents is smaller than or equal to the quantity of relevant standard warehouse receipts, all the buyers' intents will be fully satisfied; if the aggregate position quantity held by the buyers which propose the delivery intents is bigger than the quantity of relevant standard warehouse receipts, the buyers which will participate in the matching of delivery will be determined under the principle of "priority in the most length of the average position period".

The average position period shall take "day" as the unit, which shall be the weighted average number of the period of each Lot of the positions. In case of the same lengths of average position periods, the priority shall be given to the buyer which has the earliest position. The specific formula is as below:

The buyer's average position period

=

∑ period of the buyer's each Lot of position

the buyer's aggregate position quantity

For the remaining standard warehouse receipts after satisfaction of the buyers' intents, the Exchange will then select the buyers to participate in the matching under the principle of "priority in positions with the earliest building time" from the position-holding buyers which have not submitted any delivery intents and those of which the delivery intents have not been satisfied; and the Exchange will then determine the designated delivery warehouses corresponding to the buyers' delivery and the quantities to be delivered in such warehouses under the principle of "minimum matching quantity". The positions in the corresponding part of the buying and selling positions of the same client number do not participate in such matching.

The third step: matching the buyers and the sellers. The Exchange shall carry out matching between the buyers matched with the designated delivery warehouses and the sellers holding the corresponding standard warehouse receipts under the principle of "minimum matching quantity" to determine the buyers and the sellers corresponding to the delivery. Once the matching result is determined, it may not be modified by the buyer or the seller.
Article 37	Where the factory warehouse fails to timely complete the consignment of all the commodities, the factory warehouse shall, in addition to the compensation provided in Article 36 herein, compensate the owner, and the amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 5%; the following procedures shall apply to such failure:

……	Article 375	Where the factory warehouse fails to timely complete the consignment of all the commodities, the factory warehouse shall, in addition to the compensation provided in Article 364 herein, compensate the owner, and the amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 5%; the following procedures shall apply to such failure:

……
Article 38	In the event of any violation by the factory warehouse described in Article 36 or 37 herein, the compensation shall firstly be paid to the owner by the factory warehouse. Where the factory warehouse fails to pay such compensation or the amount of compensation is insufficient, such situation shall be handled by the Exchange subject to the applicable provisions of the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.	Article 386	In the event of any violation by the factory warehouse described in Article 364 or 375 herein, the compensation shall firstly be paid to the owner by the factory warehouse. Where the factory warehouse fails to pay such compensation or the amount of compensation is insufficient, such situation shall be handled by the Exchange subject to the applicable provisions of the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.

23. Comparison Table of the Amendment of the Detailed Rules of Live Hog Futures of Dalian Commodity Exchange

(Contents newly added are in shade; contents deleted are marked with doubled strikethrough.)

Original Articles	Amended Articles
Chapter III Delivery and Clearing

Section I General Provisions	Chapter III Delivery and Clearing

Section I General Provisions
Article 18	The live hog futures contract applies the exchange of futures for physicals (the "EFP") delivery, the daily selective delivery and the one-off delivery.

The EFPs for live hog futures contracts shall only be applied through physicals other than standard warehouses receipts.

The daily selective delivery may be taken in the form of the standard warehouse receipt delivery or the FOT delivery. Either the seller client who holds the standard warehouse receipt and the unilateral selling positions of the delivery month takes the initiative to apply for standard warehouse receipt delivery, or the seller client who holds the unilateral selling positions of the delivery month applies for the FOT delivery, which shall be reviewed and approved by the Exchange, and the Exchange will match the buyer with the seller to complete the delivery within the specified time.

The one-off delivery can only be taken in the form of the standard warehouse receipt delivery.

In addition to the provisions of this Detailed Rules, the EFP delivery, the daily selective delivery and the one-off delivery of live hogs shall be conducted in accordance with the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.	Article 18	The live hog futures contract applies the exchange of futures for physicals (the "EFP") delivery, the rolling daily selective delivery and the one-off delivery.

The EFPs for live hog futures contracts shall only be applied through physicals other than standard warehouses receipts.

The rolling daily selective delivery may be taken in the form of the standard warehouse receipt delivery or the FOT delivery. Either the seller client who holds the standard warehouse receipt and the unilateral selling positions of the delivery month takes the initiative to apply for standard warehouse receipt delivery, or the seller client who holds the unilateral selling positions of the delivery month applies for the FOT delivery, which shall be reviewed and approved by the Exchange, and the Exchange will match the buyer with the seller to complete the delivery within the specified time.

The one-off delivery can only be taken in the form of the standard warehouse receipt delivery.

In addition to the provisions of this Detailed Rules, the EFP delivery, the rolling daily selective delivery and the one-off delivery of live hogs shall be conducted in accordance with the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.
Article 19	For those participating in daily selective delivery, if the standard warehouse receipt delivery is adopted, the standard warehouse receipt corresponding to the seller's delivery application shall be frozen, and the trading margins corresponding to its selling positions shall be refunded on the matching day; after the market close on the handover day, the Exchange will transfer the standard warehouse receipt delivered by the seller to the corresponding matched buyer and make eighty percent (80%) of the payments for goods to the seller Member, and the remaining payments shall be fully settled after the seller Member provides the VAT common invoice; the seller Member shall provide the VAT common invoice to the buyer Member within seven (7) trading days after the matching day.

If the FOT delivery is adopted, the seller's application for delivery shall be confirmed by the designated FOT delivery site; after the market close on the matching day, the trading margin corresponding to the seller Member's matched selling positions will be converted into the delivery margin; if delivery of the futures live hog is normally completed, the Exchange shall refund the seller Member's delivery margin and make eighty percent (80%) of the payments for goods to the seller Member after the market close on the sixth (6) trading day following the handover day, and the remaining payments shall be fully settled after the seller Member provides the VAT common invoice; within seven (7) trading days after the Exchange make eighty percent (80%) of the payments for goods, the seller Member shall deliver the VAT common invoice corresponding to the actual delivered goods to the buyer Member.	Article 19	For those participating in rolling daily selective delivery, if the standard warehouse receipt delivery is adopted, the standard warehouse receipt corresponding to the seller's delivery application shall be frozen, and the trading margins corresponding to its selling positions shall be refunded on the matching day; after the market close on the handover day, the Exchange will transfer the standard warehouse receipt delivered by the seller to the corresponding matched buyer and make eighty percent (80%) of the payments for goods to the seller Member, and the remaining payments shall be fully settled after the seller Member provides the VAT common invoice; the seller Member shall provide the VAT common invoice to the buyer Member within seven (7) trading days after the matching day.

Iif the FOT delivery is adopted, the seller's application for delivery shall be confirmed by the designated FOT delivery site; after the market close on the matching day, the trading margin corresponding to the seller Member's matched selling positions will be converted into the delivery margin; if delivery of the futures live hog is normally completed, the Exchange shall refund the seller Member's delivery margin and make eighty percent (80%) of the payments for goods to the seller Member after the market close on the sixth (6) trading day following the handover day, and the remaining payments shall be fully settled after the seller Member deliversprovides the VAT common invoice; within seven (7) trading days after the Exchange make eighty percent (80%) of the payments for goods, the seller Member shall deliver the VAT common invoice corresponding to the actual delivered goods to the buyer Member.

24. Comparison Table of the Amendment of the Detailed Rules of Log Futures of Dalian Commodity Exchange

(Contents newly added are in shade; contents deleted are marked with doubled strikethrough.)

Original Articles	Amended Articles
Chapter III Delivery and Clearing

Section I General Provisions	Chapter III Delivery and Clearing

Section I General Provisions
Article 16	The log futures contract applies the exchange of futures for physicals (the "EFP") delivery, daily selective delivery and one-off delivery.

The daily selective delivery may be carried out through the standard warehouse receipt delivery and FOT delivery.

The one-off delivery shall only be carried out by the standard warehouse receipt delivery.

With respect to the EFP delivery, daily selective delivery and one-off delivery of the log, the specific processes shall be subject to the applicable provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange in addition to the applicable provisions of the Detailed Rules.	Article 16	The log futures contract applies the exchange of futures for physicals (the "EFP") delivery, rolling daily selective delivery and one-off delivery.

The rolling daily selective delivery may be carried out through the standard warehouse receipt delivery and FOT delivery.

The one-off delivery shall only be carried out by the standard warehouse receipt delivery.

With respect to the EFP delivery, rolling daily selective delivery and one-off delivery of the log, the specific processes shall be subject to the applicable provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange in addition to the applicable provisions of the Detailed Rules.
Article 17	For those participating in daily selective delivery, if the standard warehouse receipt delivery is adopted, the standard warehouse receipt corresponding to the seller's delivery application shall be frozen, and the trading margins corresponding to its selling positions shall be refunded on the matching day; after the market close on the handover day, the Exchange will transfer the standard warehouse receipt delivered by the

seller to the corresponding matched buyer and make eighty percent (80%) of the payments for goods to the seller Member, and the remaining payments shall be fully settled after the seller Member provides the dedicated VAT invoice; the seller Member shall provide the dedicated VAT invoice to the buyer Member within seven (7) trading days after the matching day.

If the FOT delivery is adopted, the seller's application for delivery shall be confirmed by the designated FOT delivery site. The trading margins corresponding to the selling positions of the FOT delivery shall not be refunded. After the market close of the matching day, the trading margins corresponding to the selling positions shall be transformed to be the delivery margins.	Article 17	For those participating in rolling daily selective delivery, if the standard warehouse receipt delivery is adopted, the standard warehouse receipt corresponding to the seller's delivery application shall be frozen, and the trading margins corresponding to its selling positions shall be refunded on the matching day; after the market close on the handover day, the Exchange will transfer the standard warehouse receipt delivered by the seller to the corresponding matched buyer and make eighty percent (80%) of the payments for goods to the seller Member, and the remaining payments shall be fully settled after the seller Member provides the dedicated VAT invoice; the seller Member shall provide the dedicated VAT invoice to the buyer Member within seven (7) trading days after the matching day.

iIf the FOT delivery is adopted, the seller's application for delivery shall be confirmed by the designated FOT delivery site. The trading margins corresponding to the selling positions of the FOT delivery shall not be refunded. After the market close of the matching day, the trading margins corresponding to the selling positions shall be transformed to be the delivery margins.

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