Article 1 These Rules are formulated in order to maintain the normal trading procedures of Ningbo Guorun Jewelry Co., Ltd. (hereinafter referred to as "Guorun Jewelry") and protect the legitimate rights and interests of all parties to the transaction.
Article 2 "Guorun Jewelry" adheres to the principles of openness, fairness and justice, and adopts the trading methods of free quotation, matching, centralized liquidation and unified distribution according to the principles of price priority and time priority, and provides inquiry trading as an auxiliary trading method.
trading hour
Article 3 The market is open every Monday to Friday (except national holidays);
Opening hours are: 7: 00 am on Monday to 04: 00 am on Saturday (settlement time is not allowed, and settlement time is from 04: 00 to 07: 00 every day).
Deposit and withdrawal and binding time
Article 4 The deposit time is 9:00-20:00 from Monday to Friday, and the withdrawal time is 9:00- 17:00 from Monday to Friday. Article 5 The binding time is 24 hours from Monday to Sunday (excluding settlement time).
Article 6 A dealer may choose on-site trading or remote trading. On-site transaction refers to the dealer's transaction at the designated place of Ningbo Guorun Jewelry. Remote transaction means that traders conduct transactions through communication networks at their chosen places.
Article 7 Ningbo Guorun Jewelry handles electronic spot transactions in fund settlement at T+0 clearing speed. After the declaration is successful, the goods will be uniformly allocated by the market.
Article 8 Before the goods are delivered, the buyer must deposit the corresponding amount of RMB funds into the account designated by Ningbo Guorun Jewelry. The seller must store all the goods for sale in the delivery warehouse designated by Ningbo Guorun Jewelry.
Article 9 In order to prevent abnormal factors from interfering with the transaction price, Ningbo Guorun Jewelry has the right to determine the maximum price fluctuation range and implementation measures according to the actual situation of the transaction, and will suspend the transaction of this variety when necessary.
Quote transaction
Article 10 A trader makes a quotation through the quotation window of the trading system.
Article 11 Traders' quotations can be divided into buying quotation, selling quotation and two-way quotation according to the trading direction.
Buying quotation refers to the quotation of traders buying silver bars.
Selling quotation refers to the dealer's quotation for selling silver gold bars.
Two-way quotation means that traders quote both the buying price and the selling price, in which the buying price shall not be higher than the selling price.
The price quoted by the trader remains valid during the trading hours of the day until the quotation is completely sold or revoked by the trader.
Article 12 Ningbo Guorun Jewelry Computer Automatic Matching System sorts the trading declaration orders according to the principle of price priority and time priority.
Article 13 The opening price of each transaction is the first transaction price after the opening, and the closing price is the weighted average price of the last five transaction prices.
The fluctuation range of the transaction price is based on the settlement price of the previous trading day (the weighted average price of the whole trading day).
The weighted average price of the day refers to the weighted average price of the total transaction amount divided by the total transaction amount of the day.
Article 14 After a trader makes an offer, the corresponding amount in the fund account corresponding to the offer is frozen. The stock of silver gold bars corresponding to this quotation is frozen.
Article 15 Before the quotation is concluded, the dealer may cancel the original quotation. The cancellation of the dealer's order is only valid for the unfinished part of the original offer. If all the quotations have been sold, the order is invalid. After the trader withdraws the order, the quotation frozen funds or the silver gold bar inventory corresponding to the withdrawal will be unfrozen.
Article 16 If the available inventory balance in the dealer's silver gold bar inventory account is positive, the bill of lading can be printed through the trading system.
Clearing and delivery
Article 17 Ningbo Guorun Jewelry implements the principle of centralized, direct and net fund settlement.
Article 18 Before declaring delivery, the buyer must deposit the corresponding amount of RMB funds into the account designated by Ningbo Guorun Jewelry (Ningbo Guorun Jewelry freezes the corresponding funds); The seller must store all the goods for sale in the delivery warehouse designated by Ningbo Guorun Jewelry (Ningbo Guorun Jewelry freezes the corresponding goods).
Article 19 Ningbo Guorun Jewelry implements spot delivery and liquidation on the same day, that is, after the liquidation on the trading day, the funds will be deducted from the buyer's margin account and transferred to the seller's margin account.
Article 20 After the closing of the trading day, Ningbo Guorun Jewelry will transfer the rights of the goods for the buyer and the seller.
Article 21 On the day of the transaction, the buyer can fill in the application form for delivery of silver gold bars at the transaction end 30 minutes after the transaction is completed, or pick up the goods at any time as needed (valid within 7 working days) or sell the goods the next day. The application time for selective delivery is any time during the working hours of Ningbo Guorun Jewelry (suspended within 30 minutes after the transaction is completed).
Article 22 Within 3 working days after a dealer successfully applies for delivery, the market will make unified arrangements for delivery.
Article 23 The distributor shall pay the related expenses such as warehousing and transportation insurance.
Information statistics
Article 24 Ningbo Guorun Jewelry timely and accurately publishes the market conditions and relevant market information of the day.
Article 25 The information released by Ningbo Guorun Jewelry includes:
1. Public * * *: including the latest price, opening price, highest price, lowest price, buying quantity, closing price before selling quantity, price fluctuation, price fluctuation and trading volume.
2. Optimal Quotation Distribution Map: shows the optimal price of each transaction.
3. Real-time market chart: shows the latest trading price trend in the market.
4. Historical Quotation of Silver Market: displays the statistical information of historical quotation of silver market.
5. Member Basic Information Query: displays the basic information of all members.
6. Market announcements and other information.
Article 26 A dealer may make statistics on his trading information through the trading system, including:
1, historical quotation statistics: statistics the historical transaction quotation of this dealer.
2. Quotation statistics of the day: count all quotations of traders of the day.
3. Historical trading volume statistics: Statistics the historical trading volume of the dealer according to the trading variety and trading direction.
4. Dealer transaction statistics, including:
(1) Real-time liquidation: count the real-time liquidation records of this banker.
(2) Historical transaction: statistics of the historical transaction records of the dealer.
5. Dealer's fund inquiry: inquire about the dealer's fund balance in the designated account of Ningbo Guorun Jewelry and the paid extension fee.
6. Inquire about the dealer's silver inventory: inquire about the dealer's silver inventory in the designated warehouse of Ningbo Guorun Jewelry.
Abnormal situation handling
Twenty-seventh abnormal situations refer to market manipulation, serious price distortion or force majeure emergencies in transactions.
Article 28 Ningbo Guorun Jewelry may be declared to be in an abnormal state in any of the following circumstances during the transaction, and emergency measures shall be taken to eliminate risks:
1, earthquake, flood, fire, war, strike and other force majeure or computer failure. It can't be blamed on Ningbo Guorun Jewelry, which makes the transaction unable to proceed normally;
2. Liquidation and delivery crisis of dealers;
3. Other circumstances stipulated in Ningbo Guorun Jewelry Business Rules.
In case of any abnormal situation described in the previous article 1, the general manager of Ningbo Guorun Jewelry may take emergency measures to adjust the opening and closing time and suspend trading; In case of any abnormality in the second and third items of the preceding paragraph, Ningbo Guorun Jewelry may decide to take emergency measures such as adjusting the opening time, suspending trading, adjusting the price limit, and ordering goods within a time limit.
Article 35 Ningbo Guorun Jewellery must make an announcement before announcing the abnormal situation and deciding to take emergency measures.