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To meet the market demands and further expand futures market’s scope and method of serving the real economy, Dalian Commodity Exchange (DCE) issued the “Notice of Revising the Receipt and Payment Rules for Standard Warehouse Receipt Transfer” on February 1. The Amendments was released on the same day and put into effect from the day it’s released.
According to the revised rules, the two sides involving in a warehouse receipt transfer can continue to adopt the previous warehouse receipt transfer mode to manage the receipt and payment and also can entrust DCE as an agent to make the receipt and payment. With regard to the latter, the two sides should submit the entrusting application through a member and the payment and the circulation of special invoices for value-added tax should be managed according to the “Detailed Settling Rules of DCE”
It’s worth mentioning that DCE would charge some service fee according to relevant standards for those entrusting DCE to make receipt and payment. On that day, DCE has made clear the charging standards for entrusting DCE to make receipt and payment for standard warehouse receipt transfer. Those managing the warehouse receipt transfer by themselves would not be charged.
