Commodity Listing Merchant is a legally established and legally existing company, institution or a natural person who has reached the age of 18 and has full civil capacity. It has already passed the relevant review that pre-set by the Exchange for Commodity Listing Merchant to carry out the commodity listing and other relevant businesses.
Marketing Agency refers to an enterprise legal person who has established a valid existence in accordance with the law, and has been approved by the Exchange to voluntarily engage in the sales of wild ginseng commodities according to the relevant rules of the Exchange.
Trading member is a natural person, business or institution that abides by all rules and regulations of the Exchange and has the right to participate in Exchange’s market activities such as commodity trading, ownership transfer, physical delivery and bank settlement.
The firm’s trading price is subject to a daily price increase and decrease limit of 10%, and the decline rate is 10%.
For publicly listed products, the price limit for the first day of listing is 80%-130% of the product’s offer price. According to the development needs, the Exchange can adjust the ratio of the price increase on the first day of the product listing.
Where a trading member deals in a transaction, the trading fee shall be paid to the Exchange in accordance with the contract.
The fee collection standard is: three thousandths of the transaction amount is charged to the buyer and the seller, and the single transaction fee is less than 0.01 US dollars and is charged at 0.01 US dollars.
2. These rules apply to the conduct of the exchange spot transactions. Exchange, commodity listing, commodity promoter, clearing house, Capital Supervision Bank, designated settlement warehouse, quality inspection agency and its staff must abide by these rules of trading.
2. Spot trading: Listed commodities must be stored in the approved warehouse before trading.
3. Full payment: Before the buyer can pay in full, the trading member must deposit the funds into the customer segregated account of the clearing bank of the Exchange.
4. Real-time settlement: The buyer acquires ownership of the listed commodities immediately after the transaction is successful. This means that trading members can buy listed commodities and sell them on the same trading day.
5. Quote in grams: the trading unit is 0.1 grams. The quoted unit is USD/0.1g.
6. Physical delivery: The minimum number of physical delivery is one.
7. Settlement currency: The settlement currency is US dollars.
2. After the trading member enters into an electronic trading contract, it can choose to apply for settlement on the trading day, or apply for settlement in the future. The Exchange adopts the full transaction settlement mode.
3. Trading procedures
a. The trading member enters the trading member code and password to log in through the Exchange’s electronic trading system terminal.
b. Before the trading, the trading member shall deposit sufficient trading funds to ensure the fulfillment of the electronic trading contract.
c. Trading members enter buy or sell orders through the electronic trading system, which is sorted by the principle of “price priority, time priority” and is automatically traded when the bid is greater than or equal to the selling rate. The transaction price is the price at which the bid or offer is to be declared at the first time, and the price of the goods contract is signed or transferred by the buyer and seller.
d. The trading order is validated by the Exchange’s electronic trading system, and the result of the transaction is an electronic trading contract between the two parties, which has legal effect. When the trading member’s fund balance is insufficient, the electronic trading system does not accept its new order.
e. Trading members can obtain the transaction records through the electronic trading system. The trading members should promptly inquire and check. If there is any objection, they should promptly submit to the Exchange.
f. If the number of orders is not fully completed, the unsold part can be revoked. If it is not revoked, the unfilled part will still be stored in the electronic trading system of the Exchange, and will continue to participate in the day trading, and will automatically lapse after the transaction ends.
g. After the two parties have reached a transaction through the trading system, they must pay the trading fee to the Exchange at one time. The trading fee collection standard is detailed in the announcement of the commodity listing. The Exchange can adjust the trading fee standard according to the actual situation.
4. The electronic trading contract is an integral part of this trading rule and is an integral part of this trading rule.
2. Commodity listing merchant is a legally established and legally surviving company, institution or a natural person who is 18 years of age and has full capacity for civil conduct, and has already passed the relevant review that pre-set by Exchange for Commodity Listing Merchant to carry out the commodity listing and other relevant businesses.
3. The commodity listing merchant who holds the relevant commodity trading contract may declare the settlement, and the commodity shall be put into the approved warehouse of the Exchange after the acceptance of the Exchange.
4. The approved warehouse shall be responsible for the acceptance, storage and delivery of the commodity in accordance with the relevant agreement contract and other provisions.
For the cash deposit of the Exchange, the trading member can transfer funds from its own binding bank account to the Exchange’s segregated customer account.
Conditions of Use:
1. This process applies to trading members of all bank accounts.
2. The transfer time of normal trading day is 9:00-15:00, other time is non-direct business acceptance time.
First, Cash Deposit:
1. Trading members must use the binding account in the name of the account holder to transfer funds to the Exchange’s segregated customer account (Singapore Global Ginseng Exchange Pte Ltd).
2. In the payee account column, fill in the exclusive fund management account assigned by the Exchange to the trading member.
3. Pending the fund transfer to complete, there is no need to submit the cash deposit application on the client page of the trading system. If the transfer information is correct, the trading member will be able to check the amount of funds in the trading account 60 minutes after receiving the funds, and can inquire about the cash deposit record in the status of cash deposit application.
4. The Exchange will suspend the deposit and withdrawal business during the system settlement and maintenance period from 23:30 to 01:00 in the next day. The trading members should avoid the deposit operation from 23:30 to 01:00 in the next day. The deposit business should be arranged as soon as possible.
Second, Cash Withdrawal:
1. Submit a cash withdrawal request in the trading account through the client page. After the trading member logs in to the client page, click to enter “Fund Management”. Enter the customer platform and click on the fund management – deposit and withdrawal – choose the withdrawal, and select the withdrawal bank as Standard Chartered Bank.
2. The system will complete the withdrawal on the second trading day (within 48 hours) after receiving the withdrawal request, and will be postponed in case of holidays. The actual arrival time of the funds shall be based on the actual time of account of the branch to which the bank account belongs.
Precautions:
1. If the transfer information is incorrect or the transfer is completed after the non-direct business acceptance time, and the trading member is unable to inquire about the deposited cash in its trading account, please contact the customer service on the Exchange’s official website.
2. In order to avoid the situation where the transfer account and the registration information in the system do not match, please complete a small amount of deposit transfer through this business when you use it for the first time.
3. If cash deposit and withdrawal error or unfinished situation occur, please contact the customer service on the Exchange’s official website.
4. Charge Standard:
The cashdeposit is charged by the originator bank and the payee does not pay the handling fee. The fee is charged by Standard Chartered Bank, which is to be borne by the trading member who initiated the cash withdrawal.
2. If the buyer has an objection to the quality of the goods, the Parties shall implement them in accordance with the specific provisions of the Exchange’s physical settlement rules.
3. In one of the following actions, trading members constitutes a physical settlement default:
(a) The seller did not submit the warehouse receipt as stipulated;
(b) The buyer fails to pay the full payment as stipulated;
(c) The seller delivered the goods does not meet the physical settlement requirements, the negotiation between buyer and seller fails;
(d) The seller did not submit a VAT invoice within the specified time limit.
4. In cases where a trading member defaults, it is dealt with in accordance with the specific provisions of the Exchange’s physical settlement rules.
2. In order to ensure the quality of listed goods and protect the rights and interests of the commodity holders and the trading users, the Exchange adopts the commodity listing and approval system, which can be traded only if approved by the exchange and in conformity with the inspection of qualified goods by the national authorities. The Exchange strictly implements the commodity listing audit and the supplier audit system. Ginseng suppliers are required to submit applications and qualification documents to the exchange. The Exchange will register the supplier as an approved supplier after evaluating the supplier’s operational qualification documents. The supplier is qualified to submit the listing application after becoming the approved supplier.
3. The price fluctuation risk management system refers to the measures that the Exchange determines the maximum range of trading commodities and reduces the trading risk according to the actual situation of the transaction.
4. The Exchange imposes price fluctuation restrictions on commodity trading. The maximum price increase on the first day of listing is limited to 30%, and the maximum increase and decrease on the next day is limited to 10%. The daily maximum price limit limits the settlement price of the previous trading day as the calculation basis. If the trading hours of the listed goods on the 15th trading day, the transaction price of the three consecutive trading days hits the maximum price limit or the unilateral buy limit order or the limit price of the four consecutive trading days exceeds 35. % of the situation, then the next trading day is suspended for half a day. If the transaction price on the first half of the trading day still hits the maximum price limit, the maximum price limit for this commodity will be adjusted to 6%. However, if the transaction price of the next three trading days does not touch the maximum price limit, the maximum price of the commodity will be limited to the original level.
5. In order to reduce the risk of market speculation, the Exchange implements a limit order quantity and holding limited system. The order quantity restriction system refers to the measures that the Exchange sets the maximum order quantity and prevents the transaction risk respectively according to a individual transaction commodity, a single trader and a single transaction.
6. In order to control the negative impact of emergencies, the Exchange implements an abnormal situation handling system. In the event of force majeure, accidents, technical failures and other anomalies, the Exchange can declare an abnormal state and take urgent measures to resolve the risk. Especially when maliciously manipulating the market, malicious network attacks and network system failures, and will seriously affect the normal operation of the trasaction, you can suspend the transaction.
7. The risk warning system refers to one or more of the measures taken, such as reporting, reminding, written warning, public condemnation, and issuing risk warning announcements, when the Exchange deems it necessary to warn and mitigate risks.
8. Risk Disclosure
All commodity offering companies and investors involved in the Exchange must fully understand the trading risk due to various risk factors (including but not limited to market risk, business risk, liquidity risk, reinvestment risk, policy risk, credit risk, other existence of risks, etc., the trading objectives of the risk-taking and profit-taking expected by the commodity offering companies and investors may not be realized, and the above-mentioned consequences are borne by the commodity-selling enterprises and investors themselves. The Exchange does not provide guarantee or assume any responsibility for this. Commodity offering companies and investors should fully understand the trading risks and be cautious in trading.
2. The powers of interpretation and revision of these rules of Exchange are vested in Singapore Global Ginseng Exchange.
3. The two languages of this trading rule have the same legal effect, in the interpretation of the text, if there is any objection, the English interpretation shall prevail.
4. The Trading Rules are implemented from the date of promulgation.
5. (For each investor as a member of the exchange), in the event of including (but not limited to) national or local laws, regulations, departmental regulations and normative documents, such as the existence of waste, or related policies and market factors change or adjustment, or government supervisors, regulatory departments of audit, approval, rectification, rectification, cleaning, acceptance evaluation, Such matters as conformity assessment, activities, one of the procedures and circumstances, may lead to transaction barriers or transactions can not be carried out normally, the exchange has the right to unilaterally implement including (but not limited to) temporary suspension, suspension, freezing of transactions, the prohibition of admission transactions, repaying appearance, freezing funds transfer or clearing procedures, suspension of registration formalities, Entrust a third party to keep the object, store, storage and custody of the relevant data files, entrusted to the third party to provide funds transfer, retention, settlement, transfer registration procedures and other measures and actions. At the same time, the exchange does not of course bear the necessary costs and related expenses that may occur.
