國(guó)債期貨交割制度及仿真交易交割實(shí)務(wù)課件

國(guó)債期貨交割制度及仿真交易交割實(shí)務(wù)國(guó)債期貨開(kāi)發(fā)小組2012年5月

國(guó)債期貨仿真交易交割流程國(guó)債期貨仿真交易交割業(yè)務(wù)國(guó)債期貨仿真交易交割違約處理主要內(nèi)容-2-

國(guó)債期貨仿真交易虛擬債券交易業(yè)務(wù)國(guó)債期貨真實(shí)交割和仿真交易交割的區(qū)別國(guó)債期貨仿真交易交割流程一-3--4-1插.仿哪真船交歉易萬(wàn)交買割驅(qū)制齊度國(guó)談債翠期扛貨朋仿同真織合撕約訓(xùn)采恥用實(shí)惹物澡交枯割方鄰式。實(shí)尸物柿交脅割減是浮指赴期遣貨滿合歉約唯到站期棗時(shí)法，萌交娛易姜雙泊方翁通洲過(guò)萬(wàn)該仇期減貨乞合噸約板所肝載屢標(biāo)朝的脅物指的稅轉(zhuǎn)獄移,了凱結(jié)燃到主期繭未猴平套倉(cāng)寇合敘約祖的娘過(guò)目程。國(guó)問(wèn)債士期拔貨黑仿餓真?zhèn)兒想U(xiǎn)約采集用集憐中培交胡割模綠式畝。最誘后寸交苗易健日斗交維易儀時(shí)個(gè)間號(hào)為上掩午9：1撕5壘-味1彈1：3致0。昨在消合攻約確最余后狡交除易仿日歲后醬，堅(jiān)所志有具未父平杠倉(cāng)憲合紗約色的盛持底有擱者多應(yīng)姥當(dāng)件以絹實(shí)疤物晚交辰割偉方猜式雜履的約耀。在哄合頸約暖最捆后籮交燃易匯日雹閉慚市錄后載，痰同內(nèi)一驕交獻(xiàn)易從編訴碼熄買協(xié)賣程持威倉(cāng)初相警對(duì)暴應(yīng)銜部叛分踏的船持這倉(cāng)貢視?shū)P為陸自郊動(dòng)碼平蓋倉(cāng)室，芽不炭予州辦琴理輛交拼割估，魔平遷倉(cāng)潮價(jià)許格天按鄉(xiāng)豐交僅割廉結(jié)頂算朵價(jià)迎計(jì)價(jià)算。-5-仿勵(lì)真血交擇易靠交毛割隸制下度實(shí)妄物的交鞠割脾應(yīng)泄當(dāng)買在筐合杏約旺規(guī)袍定畫(huà)的辨交界割鍋期寶限冒內(nèi)滋完扁成垃。效交伯割顛期邁為悔該稍合欣約自最池后緞交紫易搞日妖后直的振連因續(xù)格三方個(gè)柴交緊易螺日悉。哈該尾三懶個(gè)偽交叛易饒日翠分排別餃稱寫(xiě)為錢(qián)第股一余、松第運(yùn)二還、撥第之三友交什割頌日爸，繪第智三內(nèi)交煩割障日賓為闊最居后時(shí)交趣割槍日?？驮讘羧镜腻a實(shí)晌物主交磚割揀應(yīng)塞當(dāng)鋸由昨會(huì)喝員勻辦遵理吹，碎交霸易拍會(huì)搶員蛙的喝實(shí)薪物傭交遍割健應(yīng)世當(dāng)稈由典為母其其代征理這結(jié)疏算借的納結(jié)馳算妄會(huì)輝員喉辦會(huì)理。-6-2杜.可個(gè)交狹割狡虛闖擬季庫(kù)左國(guó)雀?jìng)墒呓徽劯顚毺摲驍M天庫(kù)術(shù)國(guó)伍債寶應(yīng)劣當(dāng)站同瞧時(shí)姐滿御足就以斷下稈標(biāo)求準(zhǔn)慮：財(cái)璃政鎖部哄在瞇中宗國(guó)炒境波內(nèi)借發(fā)漂行洞并猴核緩準(zhǔn)榆可勁跨渣市焦場(chǎng)捎交乓易字的肚國(guó)杠債怪；固址定勒利少率不且猴定挽期修付徒息勇的梅國(guó)曬債謀；最雙后啄交色割耳日低的短剩送余含期題限靈符璃合雪合跨約掌要子求體的貴國(guó)扭債改；交艱易皆所沿規(guī)柳定陷的謠其反他響條煎件貝。國(guó)賀債獎(jiǎng)期用貨擁仿吉真嗎合遇約千上駐市左時(shí)鞠，著交索易銳所戒根警據(jù)蓮可擠交搞割將虛磁擬識(shí)庫(kù)您國(guó)待債練標(biāo)丈準(zhǔn)溉確喇定鏈并舉公的布堡可擾交席割礦虛疫擬門(mén)庫(kù)孔國(guó)裹債戴品召種常。漫因蹲國(guó)唯債屬發(fā)局行葵等砌原鐵因畫(huà)導(dǎo)摸致朵可坦交賺割低虛晴擬唇庫(kù)腹國(guó)矛債縱品士種戲發(fā)腿生夢(mèng)變合動(dòng)雖的橫，戰(zhàn)交據(jù)易燃所帝應(yīng)急當(dāng)睡及炕時(shí)孝公明布彩新紫的株可常交尺割柜虛婦擬戲庫(kù)閣國(guó)烘?zhèn)绕肺ǚN可尾交芽割玻虛足擬筑國(guó)梁債逃范酸圍-7-債券代碼到期日TF1206

轉(zhuǎn)換因子TF1209

轉(zhuǎn)換因子TF1212轉(zhuǎn)換因子090013.IB2016-6-250.9932--090017.IB2016-7-301.0056--090019.IB2016-8-201.0065--060016.IB2016-9-260.99670.9969-110022.IB2016-10-201.02201.0208-090026.IB2016-10-221.01591.0151-090032.IB2016-12-171.00901.0085-120003.IB2017-2-161.00591.00551.0053100005.IB2017-3-110.99640.99650.9967070003.IB2017-3-221.01761.01671.0158100010.IB2017-4-221.00031.00031.0003100015.IB2017-5-270.99220.99250.9929070010.IB2017-6-251.06491.06161.0587100022.IB2017-7-220.98870.98920.9897100027.IB2017-8-190.99090.99140.99170700001.IB2017-8-291.06221.05921.05640700003.IB2017-9-241.07071.06741.0643100032.IB2017-10-141.00471.00461.00430700005.IB2017-11-51.07361.07021.0671100038.IB2017-11-251.04101.03921.03750700008.IB2017-12-171.07111.06781.0649110003.IB2018-1-271.04221.04031.0387110006.IB2018-3-31.03871.03701.0355080003.IB2018-3-201.05621.05391.0515080010.IB2018-6-231.07721.07401.0711110017.IB2018-7-71.03821.03661.0351080018.IB2018-9-221.03851.03711.0356110021.IB2018-10-131.03681.03551.0341030009.IB2018-10-241.06781.06521.0628080025.IB2018-12-150.99410.99430.9945120005.IB2019-3-81.02451.02361.0228090003.IB2019-3-121.00301.00291.0027090007.IB2019-5-71.00121.00111.0011090012.IB2019-6-18-1.00541.0052090016.IB2019-7-23-1.02941.0285090023.IB2019-9-17-1.02751.0266090027.IB2019-11-5--1.0419債券代碼到期日TF1206

轉(zhuǎn)換因子TF1209

轉(zhuǎn)換因子TF1212轉(zhuǎn)換因子3浸.國(guó)暮債私期桿貨脆仿啟真塘交湊易熊交碑割逃流光程-8-最后交易日賣方申報(bào)日交割配對(duì)日券款交收日TT孕+除1T養(yǎng)+攀2T尾+辱3-9-國(guó)監(jiān)債號(hào)期棟貨患仿貸真狡交貪易澤交思割厭流忍程-1談0-最感后匙交培易宿日11:30收市后：交易所計(jì)算交割結(jié)算價(jià)。同一客戶持有的多空頭寸進(jìn)行對(duì)沖。交割結(jié)算價(jià)：合約最后交易日全天成交價(jià)格按照成交量的加權(quán)平均價(jià)。同一交易編碼的雙邊持倉(cāng)進(jìn)行自動(dòng)平倉(cāng)，剩余未平倉(cāng)合約進(jìn)入交割。交易所日終結(jié)算后：收取交割手續(xù)費(fèi)。交割手續(xù)費(fèi)：15元/手。-1勵(lì)1-第孔一波交丘割顆日—缺—賣絲式方道申背報(bào)綢日下午2點(diǎn)前：賣方客戶通過(guò)會(huì)員申報(bào)交割意愿。申報(bào)內(nèi)容包括待交割虛擬庫(kù)國(guó)債品種、數(shù)量、虛擬庫(kù)名稱等。賣方客戶的每手國(guó)債期貨合約只能申報(bào)單個(gè)可交割虛擬庫(kù)國(guó)債品種。下午2點(diǎn)：凍結(jié)賣方待交割券。交易所通過(guò)相應(yīng)虛擬庫(kù)對(duì)賣方客戶的待交割國(guó)債予以凍結(jié)。下午2點(diǎn)后：賣方違約處理凍結(jié)券失敗的賣方進(jìn)入賣方違約處理，根據(jù)隨機(jī)方式產(chǎn)生相應(yīng)的守約買方。交易所結(jié)算時(shí)：釋放賣方保證金。資金內(nèi)轉(zhuǎn)流水處理。違約賣方支付違約部分合約價(jià)值（違約量*合約面額*交割結(jié)算價(jià)/100）的5%的違約金給守約買方。-1筋2-第碑二芬交嫩割垃日—?！挥钏耘湟矊?duì)德日盤(pán)中：交易所進(jìn)行交割配對(duì)。交易所根據(jù)賣方客戶交割意愿，對(duì)凍結(jié)待交割券成功的賣方按“同虛擬庫(kù)優(yōu)先”的原則對(duì)買方客戶進(jìn)行隨機(jī)交割配對(duì)。交易所收盤(pán)結(jié)算時(shí)：發(fā)布交割配對(duì)結(jié)果。交易所通知會(huì)員配對(duì)結(jié)果和交割貨款。-1室3-第煮三熊交壞割雕日—罪—券熔款疾交受收廢日下午2點(diǎn)前：買方會(huì)員進(jìn)行買方違約申報(bào)。仿真交易中不存在部分違約的情況。下午2點(diǎn)后：買方違約處理。賣方交割券過(guò)戶或解凍潔。根據(jù)第二交割日交割配對(duì)結(jié)果產(chǎn)生相應(yīng)的守約賣方。交易所結(jié)算時(shí)：交割款項(xiàng)劃付。資金內(nèi)轉(zhuǎn)流水處理。釋放買方交割保證金。違約買方支付違約部分合約價(jià)值（應(yīng)付交割款）的5%的違約金給守約賣方。出現(xiàn)買方違約，則釋放的買方保證金為扣除買方違約罰金后的買方保證金。國(guó)佛債氧期戒貨幫仿掘真氣交經(jīng)易五交奧割象系封統(tǒng)-1雹4-國(guó)債期貨仿真交易虛擬債券交易業(yè)務(wù)二-1卻5-1疼.虛活擬積交趙割隨庫(kù)學(xué)的肌設(shè)涂計(jì)奔背屋景根擊據(jù)繡《腿中奔國(guó)至金承融意期饒貨奸交艦易柿所舍國(guó)被債森期月貨土仿磁真叔交喝易錫測(cè)神試蓋業(yè)籮務(wù)居規(guī)掉則欠》年的粒有冷關(guān)兵規(guī)岡定程，敗到同期往未叮平帝倉(cāng)的劣國(guó)耳債駁期和貨合合約孟將兼進(jìn)儉入講交艱割。仿柿真針交劃易演中層的腎交癥割細(xì)采穩(wěn)用波集麗中豬交敲割慢制壺度方，債所得有睛未篇平責(zé)倉(cāng)黑合蟻約丘持飛有孟者立應(yīng)午以覆實(shí)烘物柳交授割銅方么式劈燕履頌約報(bào)。有瞧賣淘持走倉(cāng)顧頭躲寸嗎的坦客摸戶多需窄要桿交濕出會(huì)現(xiàn)鄙券映。虛摟擬涉交犯割潤(rùn)庫(kù)季相魚(yú)當(dāng)飄于牙真臣實(shí)蓮中潔的余債迫券敵托今管孩機(jī)智構(gòu)盟：速中牢債伴登汽和敏中讓證木登姑。交間易因所晚設(shè)疾立援兩樣個(gè)訪債撓券浮交嗓易憂虛侄擬虜庫(kù)演，A庫(kù)掙和B庫(kù)連。-1屠6-2煌.操沈作絲式規(guī)混則客哄戶壇通塌過(guò)繁會(huì)怕員蠅在【會(huì)討員洗服敢務(wù)陜系泛統(tǒng)】提懸交竹債梯券嬸買鴨賣懇申境請(qǐng)挎。結(jié)車算糞會(huì)堤員為渡自躁己腔的笑客告戶繼買甘賣膀現(xiàn)惱券積，哀不推能怎為奴其數(shù)下態(tài)屬流的參交抗易林會(huì)吩員跪的累客捎戶愉買蟲(chóng)賣樣現(xiàn)沸券焦；交蜜易序會(huì)短員為歷自系己柴的角客隊(duì)?wèi)艟召I樓賣裙現(xiàn)繼券峽。-1泰7-操頁(yè)作撓規(guī)簽則虛華擬辨?zhèn)T的云交偽易疑單甜位后為籌“獨(dú)手剝”更，1手扣等繡于想面漆額1椅0佳0萬(wàn)恐元川人引民匹幣睛的變債耗券糟。虛巴擬炒債柏券鎖交臺(tái)易肆申舊請(qǐng)棄時(shí)份間半為搬國(guó)錫債宿期教貨然仿造真司交油易噸日9伙:述1孫5奧-資1薯1來(lái):隔3厲0和1舞3坊:自0滿0月-僅1熊5析:挺1蓬5。別虛而擬價(jià)債海券泰交販易插委死托廊可需以編在駕交妻易貢時(shí)掉間虎內(nèi)帶撤象銷逝。資循金沿調(diào)壟整睛和灶債齊券饑買哲賣鞋操再作池不眉實(shí)滴時(shí)熊生鞭效爆，姥交千易乳所筍在欣日話終擱時(shí)頑進(jìn)趨行騙統(tǒng)旦一竊處扛理似。喜會(huì)噴員增在僵結(jié)緊算侄完晴成駁后腦可牢以鏟查店詢強(qiáng)資落金曬和在債熔券院持敏倉(cāng)里情株況芬。-1弄8-3從.基腳本濕流助程交襪易訂所均每搞日局將陵國(guó)喂債像期估貨勢(shì)合丙約斗的咐可振交私割萬(wàn)券漁及躺價(jià)老格仙發(fā)寶布榜給輩各森會(huì)辨員忌，儉日弟終拆結(jié)培算潤(rùn)時(shí)僵按端此揭價(jià)沙格返處獅理邀。會(huì)綠員界需級(jí)要強(qiáng)提津前寸設(shè)業(yè)置立客譜戶屢現(xiàn)雕貨拐賬除戶使的磁虛水?dāng)M雅資猴金供。舞客裙戶雷如肥資塵金劑不橡足勉，繡買丹賣歸申棕請(qǐng)頓不調(diào)能修執(zhí)濱行臟。會(huì)樸員窩通兵過(guò)撒會(huì)報(bào)服反系梢統(tǒng)鄰提億交室債魂券窮買自賣竿申天請(qǐng)倚，抄申導(dǎo)請(qǐng)杠信綁息講包境括祖：屑合田約哪號(hào)肌、輕客斗戶寫(xiě)號(hào)影、濟(jì)買皂賣暗類牧型賀、晴債釀券灣代棗碼題和惑委威托惜量肚。交櫻易夠所胳在嬸交夫易鹿結(jié)判算晉時(shí)泡按犬照絲式時(shí)婚間侵優(yōu)閉先突原色則原對(duì)吧當(dāng)償日貨提頑交甲的府虛膀擬蹄債戒券租交堅(jiān)易皂申刷請(qǐng)?zhí)y(tǒng)童一糧進(jìn)膠行荒批轎量歉處聞理囑。虛梨擬切債恥券低交連易盜款同項(xiàng)席在歡交扣易謝結(jié)柳算橫后澆從簽虛改擬珠庫(kù)授債鋪券江交醬易斗賬削戶艦中祖進(jìn)川行麥劃販轉(zhuǎn)。-1趕9-4洽.買喉入購(gòu)和杜賣介出感債魔券息處半理袖規(guī)跡則買榜入冤債娘券客咐戶悠可飄用交資耍金<債晃券皇價(jià)各格×委賽托唇量×除1鮮0光0眨0償0，繪則山交誤易推失職敗柱?？吞K戶掏可瞞用真資超金撥≥向債殺券頸價(jià)購(gòu)格×委晝托果量×捧1乳0跡0管0用0，曬則餐交依易懂成寬功傭。賣瓜出抬債扮券委城托淡量<客氣戶翻可霜用淚債易券勝數(shù)料量件，刮則診成駕交每量摟為悅委怪托枝量駁。委扁托桶量棄≥徑客學(xué)戶它可艷用杯債扒券千數(shù)縮慧量男，朋則發(fā)成嬌交逝量惡為惱客幫戶跌可竹用貞債率券殼數(shù)抵量很。-2尿0-6謎.現(xiàn)筆貨難資輸金氏調(diào)惜整-2騎1-一洲定稀要叛用記蜜事街本炭方乖式打貫開(kāi)僑編午輯授，晚千抱萬(wàn)挪不蓋要啄用E煉x救c忽e額l格詳式你?？蜋z戶供號(hào)棚為8位售，前旗面麻的0不埋可崖以仇省逢略?，F(xiàn)搜貨佳資登金樹(shù)調(diào)演整-2獵2-客端戶極資以金淡調(diào)緣瑞整邊文喜件偶表耗頭洞及豪內(nèi)竭容品：適會(huì)豈員頸號(hào)截、拾客協(xié)戶歸號(hào)儀、裕交禍割婚品旁種孝、墳資堂金潛變鄉(xiāng)豐化劫值臉（慈含純正功負(fù)遠(yuǎn)值抱）明；膨其牛中詠交舟割億品奸種申為暫交丟割滲品付種套代夾碼伏，鞏目敗前參國(guó)叢債貴期遲貨寧為T(mén)榮F；獨(dú)資侄金祥變鏈化務(wù)值另，嗎為省該塊交阿易的編挨碼傻需的要籠調(diào)稅整沫的工資攪金袋值愉，仇含蜓正遞負(fù)系值別，精飛確澆到隔小廢數(shù)況點(diǎn)濟(jì)后咬兩區(qū)位黑，皇單誰(shuí)位采為糞元駱。資現(xiàn)金豆調(diào)悶整努功代能露只革支諒持茅指允定聞客撒戶洋調(diào)塞整游，錄不棟支隊(duì)持雅會(huì)夠員獲下再所杏有應(yīng)客找戶拿整當(dāng)體籍?？芎?jì)調(diào)真整浪，日如攤文度件擇中紗不穿能戲出挺現(xiàn)瀉客坑戶尼號(hào)彩為0旋0橋0蝴0陳0糞0員0樓0的查記損錄左。每引個(gè)湯交短易殘日吉交款易幟結(jié)孔束字前何只掉能淋導(dǎo)濕入龍一訊個(gè)員文腐件訊。漠交宮易苗所會(huì)在猴日疏終盟進(jìn)課行效資鏈金闊調(diào)他整江處暈理臂。如噴當(dāng)歌日箱資擔(dān)金黑文安件核交軋易兇所終已越處續(xù)理啊，沙則杜不殲?zāi)芑鞂?dǎo)鳴入解；閱如陜尚誦未族處剩理課，譯下嗓一眾次菜導(dǎo)歸入孫將橋自慢動(dòng)釣刪久除手上單次僚導(dǎo)脂入輛數(shù)攪據(jù)催。神導(dǎo)井入呼文掌件艙為C冰S醒V文配件漠，吵大厚小聾不斯能灣超助過(guò)2餃M。7螺.債汪券網(wǎng)買返賣顛申驗(yàn)請(qǐng)勸錄羊入-2挖3-買樂(lè)賣希類技型勉：制買衫、劫賣抗、桃按牌交價(jià)割菌量碑買權(quán)入脆、痕全撓部緩賣庫(kù)出涌，煤后冰兩字者最時(shí)開(kāi)不和需脅填倡寫(xiě)刃數(shù)謀量然。會(huì)攻員跌可鄉(xiāng)豐提享交殲多蛛次露買蓄賣暴申宿請(qǐng)驕，娘系患統(tǒng)良按嘩序貢號(hào)姓依祝次駕處切理螺。系弟統(tǒng)耕不擔(dān)對(duì)頌可惱用狐的鋼買背賣美數(shù)滲量懼進(jìn)諒行貢檢仰查顆，滾是子否駛成偵功裝由杜交逝易羨所崗處嬸理流。曠不己合守格瘦買輪賣雪委蜓托摩處納理東交柄易甘所抱將敏不漠進(jìn)獵行挪買嫂賣牙處綁理鎖，萬(wàn)不頓回渡復(fù)綢處飯理冰結(jié)耕果扁。交殿易為所僚僅誕處其理送當(dāng)臟日腔債利券勝買辦賣梁申調(diào)請(qǐng)叫，皇申丹請(qǐng)龜隔活日助無(wú)貿(mào)效憂。8型.債淡券集買金賣熟申末請(qǐng)肅查親詢-2皆4-交遮易止所沈在寬日抵終答統(tǒng)搏一楊處刃理凡買臨賣哈申鑄請(qǐng)傲，雀正那確爹申趣報(bào)柜數(shù)握據(jù)及的橡申駱報(bào)巧狀濁態(tài)說(shuō)將撿變湖為鈴“捐交有易劈燕所胡已銀處攝理詳”坐。澆不加正箏確貫的齊數(shù)眉據(jù)柳申摔報(bào)報(bào)狀素態(tài)地仍繡為耐“坑交氏易扭所哨待黃處澡理是”把。9齊.債蜜券管買序賣識(shí)申送請(qǐng)毫刪邊除-2泄5-與距債沃券倆買它賣鄙申蒙請(qǐng)顆查常詢哥同濱一幅頁(yè)慣面境。本小功粗能臟供暖會(huì)但員窮刪指除婦錄偉入獻(xiàn)不艘正駛確俊或位交納易蓋所擁處婚理賊后醋提侍示巾有蘭問(wèn)凍題秧的關(guān)客含戶沫申酸報(bào)擊。會(huì)神員立需宇在面申譯報(bào)查截嘆止未時(shí)粒間刃前帖操錫作把，冰且只朝能姻刪艷除憐“盾交冊(cè)易屠所飾待板處歉理沃”搖的刑申襯請(qǐng)產(chǎn)。1倦0肺.現(xiàn)粗貨時(shí)賬掩戶題查慚詢-2嘴6-虛懶擬額債散券革賬環(huán)戶椅總秀權(quán)哄益者＝Σ（渾虛墳擬旺債深券延總昨持?jǐn)y倉(cāng)×債麗券禍價(jià)湖格×蘭1什0共0鹿0使0）+客涼戶沃可扯用碎資寺金虛售擬付債捆券禮總?cè)璩秩~倉(cāng)弓包決括購(gòu)可寺用陸債療券郵和租凍林結(jié)獵債集券直。國(guó)債期貨仿真交易交割業(yè)務(wù)三-2碑7--2蛇8-第攔一撲交續(xù)割乒日—尾—賣移方爐申棵報(bào)艙日下秘午2點(diǎn)移前足，犁賣碗方牲會(huì)西員愿申棄報(bào)軌賣家方到交秘割病意盜向足。銅交瘋易抽所通攻過(guò)河國(guó)震債糞虛閑擬遙庫(kù)霜接晨口記凍封結(jié)乏賣溫方逢交之割乏債以券鳳，席凍布結(jié)邪成皆功攏的臨賣爛方旦通絡(luò)過(guò)止結(jié)吹算倉(cāng)系帳統(tǒng)別接漿口游釋睬放叉賣佛方楊保港證蔬金煉記山錄悼；搬賣極方嘆未玻申隸報(bào)逐交擋割此或潑申逢報(bào)租與強(qiáng)持沃倉(cāng)煤不歉符陜或寄凍您結(jié)鵲失竟敗燙的搞均忙轉(zhuǎn)澤為嚷違隆約瓣，棋對(duì)然賣均方教違語(yǔ)約在持笛倉(cāng)威進(jìn)否行指配競(jìng)對(duì)師并城計(jì)鋤算辟違割約倒罰云金燥，哥劃扣轉(zhuǎn)披違鍋約電罰杜金諒記肚錄令。-2獲9-賣泉方暑交脖割有意孕向查申濕報(bào)交躺割用品楚種夸：貍默且認(rèn)涉國(guó)顧債撿，T游F。合埋約癥號(hào)宴：犯默憶認(rèn)厘當(dāng)禁前伯月浸份北交嚴(yán)割蝦的把合能約完，店不掘可旬修番改康。旱非緒在犬交刪割草月萍份刻的結(jié)合歌約陷不榜能勸申恥報(bào)偏，溫如班：T返F脊1淘2濁0街6合吃約庭僅縫可勾在2慢0拆1屠2年6月慚申揉報(bào)賽，蘋(píng)其浙他飼月家份創(chuàng)不賽可鑒申叼報(bào)悲。交哨易驚會(huì)磁員帳號(hào)未：諷客祝戶筒所朵屬雀的茅交掠易桐會(huì)踩員踏，傷對(duì)救于賀結(jié)吼算雷會(huì)鄉(xiāng)豐員口自誰(shuí)己度的伙客趣戶待，失可凍不提輸找入謝?？投蓱粢?hào)休：選申祝請(qǐng)織交至割雕的厭客費(fèi)戶旱。托棗管途機(jī)倉(cāng)構(gòu)雖：吊不越可剝輸廉入狡。待向交寨割懼債骨券暖代踐碼否：睜需突輸潔入故，踐保尚存叫時(shí)厲校甩驗(yàn)呀是語(yǔ)否威合伸規(guī)防交瘦割晴債換券禾。待克交因割沖債刻券情面銀額范：1擦0導(dǎo)0萬(wàn)謙的擦整積數(shù)杜倍引。賣調(diào)方嗚申孔報(bào)塑交闖割辛意炸向它：同賣損方黨會(huì)記員像在保第運(yùn)一體交鏟割的日1領(lǐng)4：0享0前層向鐘交毯易攻所束申擋報(bào)貧交布割增意柜向。賣酒方僅客暮戶社的橋每妄手飽國(guó)生債端期鄭貨多合策約誓只屑能滲申鞠報(bào)失單棋個(gè)假可亭交熔割買虛衣擬任庫(kù)悉國(guó)慣債昌品斗種賣誓方查交榨割鍬意同向辰申歐報(bào)僅查兇詢-3梁0-交潔易泡所破處占理疤后烘，鋸正碎確棟申嚴(yán)報(bào)聽(tīng)數(shù)此據(jù)緩的腐申頌報(bào)泄?fàn)顖@態(tài)各將而變盡為岡“弄交評(píng)易階所絲式已尊處洗理故”內(nèi)。葡不許正競(jìng)確莖的威數(shù)南據(jù)微申歲報(bào)模狀消態(tài)住仍糊為睜“街交帝易然所降待稈處笛理蓄”瓦，虛會(huì)艇員短客員戶召關(guān)拌系圣不廟符蝴的掘交臺(tái)易駛所港會(huì)預(yù)在氣備賄注鎖中忽提嘩示族“兵會(huì)披員親客齡戶芬關(guān)茂系肢不援存侍在菜”砍，箏其套他下原且因刮交港易另所軟會(huì)協(xié)在斯備窯注蝴中僻提吃示津“督交蟲(chóng)易炭所抖拒倒絕衡”。賣信方莖交貌割析意礦向殿申下報(bào)刪剝除-3斥1-與賤賣智方訊交岔割裂意指向籮申側(cè)報(bào)妖查扭詢方同峽一檔頁(yè)乓面邊。本千功涼能店供講會(huì)峰員述刪績(jī)除疲錄零入需不迅正睛確麥或床交緒易躍所油處濟(jì)理牲后兼提怪示嶄有以問(wèn)愁題監(jiān)的蚊客內(nèi)戶送申續(xù)報(bào)者。會(huì)訂員閥需剪在危申答報(bào)刷截調(diào)止湯時(shí)彎間使前燃操咳作疑，梅且只舊能列刪遇除廉“掙交猶易性所饞待磚處刺理貢”君的稅申濤請(qǐng)筐。-3彎2-第園二唉交瞞割串日—鋸—交靜割膠配玻對(duì)脖日交六易丘所番進(jìn)隙行鈴交迅割城配減對(duì)傻：到交深易菠所師根按據(jù)被賣習(xí)方贏客榨戶嶄交壤割畫(huà)意蜂愿積，眾按嚴(yán)照充同竊虛港擬諒庫(kù)盒優(yōu)申先失的秧原丘則挪對(duì)噴買氏方仿客興戶允進(jìn)劑行醫(yī)隨天機(jī)間交職割貝配算對(duì)征，覺(jué)并浙將版配御對(duì)潮結(jié)梢果異和負(fù)交昨割浮款倍通參知濤會(huì)賄員擊。-3企3-第今三大交峽割輩日—環(huán)—券躍款與交遍收添日買某方被繳奪款律：更買陡方烏向領(lǐng)交恨易站所烘繳虜納段交蜘割廚款芬。買女方跌收做券矛：井交樓易吹所晌根甩據(jù)冠配朋對(duì)慕結(jié)遷果嚴(yán)，蹲通責(zé)過(guò)呀國(guó)窯債看虛背擬拆庫(kù)融將速賣溝方良客憤戶粘的汗待悅交宰割峰國(guó)嫩債速過(guò)乖戶斜給涂買衰方攪客獵戶嗓。賣堵方括收紀(jì)款橫：墾當(dāng)?shù)溔詹┙Y(jié)忙算蘇時(shí)覽，前交加易捆所藝以沾結(jié)死算隙準(zhǔn)泊備質(zhì)金味的這形猛式止將孕交慰割堂款璃從爹買處方禾結(jié)替算貼會(huì)領(lǐng)員腰劃釋入慈賣畏方疤結(jié)胃算搏會(huì)禁員巾。國(guó)債期貨仿真交易交割違約處理四-3叛4--3軌5-1現(xiàn).交承割自違屢約假的饅處埋理具往有染下扁列鞠行瞧為桌之握一孫的照，螞構(gòu)變成螞交呢割臣違穿約牢：規(guī)萄定擺期位限婚內(nèi)勢(shì)賣役方轟未嫌能矮如加數(shù)質(zhì)交篩付蔽可肺交屬割冶虛繩擬醫(yī)庫(kù)茶國(guó)臉債拌的摘，雄則央該境賣辮方某持炸倉(cāng)敬被躁視殲為們?nèi)挡寇夁`嫁約。規(guī)達(dá)定勾期頌限助內(nèi)懂買西方護(hù)未暗能泊如附數(shù)奮解速付瓦交敞割桐款受的債，缺則照該覺(jué)買臨方賢持栗倉(cāng)旨被為視丈為祖全館部替違漁約。交羽割刑違吧約補(bǔ)時(shí)芹守押約督方讓界激定癢：賣拌方洲違蟲(chóng)約育：糠根駁據(jù)禽隨那機(jī)勒方掘式俘產(chǎn)活生傘相杠應(yīng)輸?shù)木涫仉m約膽買迫方。買概方僅違傻約形：根息據(jù)盒第緊二苦交代割刮日交耀割找配峽對(duì)乞結(jié)廣果搭產(chǎn)排生梅相撕應(yīng)曲的舍守炒約戀賣胖方。-3榮6-交務(wù)割掏違史約掌處嚼理陽(yáng)原基則賣息方鉤交洋割俱違堪約堤時(shí)到，漁由許違殘約舌賣蝕方卵支港付慌違同約尤部晨分甩合膊約蛾價(jià)著值5親%的前違返約激金較給渣守厚約扭買饒方犧，萄合么約搶價(jià)佩值濁以堆交繭割辜結(jié)謝算腹價(jià)鳳為套基餐準(zhǔn)辛進(jìn)柏行蘿計(jì)白算。（僵第傘一塌交壯割墻日絮處懼理鈔）買賊方州交克割址違本約陜時(shí)展，猾由肥違倦約扶買指方攀支尚付射違腹約虎部御分決合非約柿價(jià)私值5劉%的緩違條約技金尊給撞守誘約曲賣板方剃，隙合燭約鑼價(jià)倉(cāng)值踩以佳實(shí)且際內(nèi)交肉割夏款遵進(jìn)奸行撐計(jì)捕算耍，嫩同卷時(shí)機(jī)交很易勵(lì)所化通餡過(guò)兄虛勝擬題庫(kù)策對(duì)吼守?fù)艏s題賣電方拒的妻待得交搞割舉國(guó)像債怖解匹除片凍鋤結(jié)。（第三交杏割損日處錢(qián)理針）-3嗎7-2對(duì).買們方節(jié)違榨約楚申望報(bào)買既方際違衣約過(guò)時(shí)伏，痛買街方月會(huì)活員稿應(yīng)廚在首第醬三漸交價(jià)割醒日1不4：0乏0前標(biāo)向絨交鍋易范所逢進(jìn)靈行胞買陰方卡違際約警申咱報(bào)，丈亦途可治提將前傷申朵報(bào)奪。交命割糾品胃種脈：躲默蘭認(rèn)誤國(guó)庭債攀，T漲F。合育約推號(hào)窄：噸默母認(rèn)予當(dāng)屬前邀月俘份么交禍割醒的升合轎約崖，拐不俱可革修惰改敵。造非粥在傍交兔割雷月弓份拘的坑合佩約沃不駕能芝申唉報(bào)眉，匪如屆：T爭(zhēng)F太1艇2僻0菌6合迷約賄僅居可盼在2飾0繪1姑2年6月設(shè)申夸報(bào)作，爪其頌他音月加份災(zāi)不曲可炒申仗報(bào)析。交蕩易形會(huì)原員頑號(hào)侵：她客姑戶企所慎屬贈(zèng)的霉交蓮易霉會(huì)泳員章，蝴對(duì)悔于尖結(jié)崗算毀會(huì)也員牙自善己眨的賴客蠢戶抗，袖可鋸不珠輸顏入工?？蛯m戶砌號(hào)愈：禿申襪報(bào)混違夏約商的應(yīng)客籌戶恥。買劣方飄違冠約逢申址報(bào)挑查粥詢-3殼8-交廊易我所釣處幸理鋒后淹，餃正筋確燈申再報(bào)短數(shù)覺(jué)據(jù)核的假申尖報(bào)熊狀遞態(tài)棄將架變幸為咐“避交潑易裳所甜已卷處豎理碑”訓(xùn)。店不客正造確本的漠?dāng)?shù)凱據(jù)糕申隨報(bào)泳狀亮態(tài)史仍陳為葬“質(zhì)交乎易咱所講待蓬處蠢理縮慧”遣，抖會(huì)蔥員銳客場(chǎng)戶姑關(guān)惕系窗不拴符乘的沿交系易益所唱會(huì)雁在樣備好注是中掠提鳴示份“湯會(huì)時(shí)員綢客映戶專關(guān)晉系鉗不拐存擋在姜”宣，嘗其需他蘆原多因綿交蜓易凳所映會(huì)秤在邁備規(guī)注喊中司提鎖示浪“節(jié)交哥易盆所閑拒袋絕壯”離。買鏈方撐違萬(wàn)約尾申泡報(bào)舊刪桂除班頁(yè)祥面主與午買孝方李違堪約勒申灰報(bào)挽查宋詢熄同逃一叫頁(yè)改面陪。該功島能和供紀(jì)會(huì)擴(kuò)員熱刪勸除時(shí)錄統(tǒng)入北不蛇正她確植或蔑交別易礦所趁處炎理懇后江提亦示恒有貝問(wèn)部題薄的路客敏戶罷申胞報(bào)。會(huì)餅員捉需嘆在榜申向報(bào)疼截辯止賺時(shí)獅間杰前覽操呼作勿，針且只騰能奴刪初除框“柔交才易月所扎待率處竿理貍”揭的牧申燈請(qǐng)蹦。-3纖9-3屈.交喪割擾違僚約暖查傾詢國(guó)債期貨真實(shí)交割和仿真交易交割的區(qū)別四-4武0--4圾1-仿真交易交割真實(shí)交割債券買賣通過(guò)虛擬交割庫(kù)進(jìn)行。在銀行間市場(chǎng)和交易所市場(chǎng)進(jìn)行。實(shí)物交割模式集中交割滾動(dòng)交割交割配對(duì)原則按“同虛擬庫(kù)優(yōu)先”的原則對(duì)買方客戶進(jìn)行隨機(jī)交割配對(duì)?！巴袌?chǎng)優(yōu)先配對(duì)”原則，“最小配對(duì)數(shù)”方法，進(jìn)行交割配對(duì)自動(dòng)對(duì)沖平倉(cāng)同一交易編碼的雙邊持倉(cāng)進(jìn)行自動(dòng)平倉(cāng)。先對(duì)同一交易編碼進(jìn)行對(duì)沖，然后對(duì)同一客戶碼下的不同交易編碼，按“持倉(cāng)量最小優(yōu)先”的原則進(jìn)行對(duì)沖。對(duì)同一客戶的不同交易屬性賬戶（投