RMB, foreign exchange funds (USD), standard depot receipts and national bonds can be accessible as cash deposibleformaking daily debt-free settlement. It is required to convert USD to RMB for trade and settlement. Currently, statements of settlement show fund equity in RMB and USD is not taken into consideration. Overseas intermediaries and brokers are required to entrust domesticfutures companies for settlement.
Architecture of settlement
Settlement of futures companies
Accept data→ determine amount of purchase and sale of foreign exchange based on customer’s profit and loss→ send data of customer’s purchase and sale of foreign exchange to the depository bank through foreign exchange purchase and salesystem and adjust fund accounts of member and customer in bank→ make advance settlement→ make purchase and sale of foreign exchange→ make re-settlement
Delivery and settlement
Price of delivery and settlement refers to the arithmetic average of price of settlement for the final 5 tradingdates.