New Cotton Reserve Receipt And Storage Paction Mode Announcement

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Enterprises and dealers:

In order to avoid the interference of individual enterprises in using the improper means to deal with the trading system, and ensure the fairness and impartiality of the temporary storage and purchase of cotton, we have decided to improve the cotton purchase and storage paction mode after having submitted approval to the relevant departments.

Specific trading rules are:

1. Before 15:00 every trading day, China reserves cotton management corporation and the whole country.

The paction market divides the storage and storage volume of each warehouse into several independent collection and storage indicators, and then shows that dealers can browse in time in order to prepare for participating in the paction.

At 16:00 on the same day, all eligible dealers can participate in the auction at the same time.

2, in the paction, the sixtieth time of each purchase and acquisition index is clicked as the effective instruction of the paction, that is, the sixtieth clicks traders compete for the purchase and storage index.

During the period, each purchase and storage index can only be clicked 1 times per second, and the second click of the same storage and retrieval target in one second is regarded as invalid instruction by the system.

3, each dealer in the paction can only send a valid click every 10 seconds, and the same dealer's repeated clicks within 10 seconds are regarded as invalid instructions by the system.

4, at 16:25 on the same day, the trading system entered the closed market countdown, and there was no new click within 1 minutes.

When the market is closed, click on the last 60 valid storage orders according to the last valid click as effective instructions.

5, when the market closed, except for a single purchase and storage target failed to achieve sixtieth hits, the same cipher card could only be sold on a trading day.

For this reason, the system of receiving and storing pactions is regarded as an invalid trading order for sixtieth hits issued by traders after a sixtieth click on a purchase and storage index.

The above trading rules have been implemented since October 30, 2012.

Notice hereby.

National cotton trade

China Cotton Reserve Management Corporation

Two October 30th one or two