In March 2021, SHCH launched Commodity Clearing Net (CCNet)service. CCNet connects government supported, high-qualification and compliant spot exchanges to provide funding clearing and settlement services for commodity spot transactions, in collaboration with commercial banks, thereby supporting industrial enterprises. Forming a replicable business model and system standard, CCNet results significantly in serving the real economy.
2. Operating Model
2.1 Transaction
Physical enterprises conclude transactions through commodity spot trading exchange, and the commodity spot exchange shall send transaction data to SHCH through CCNet.
2.2 Fund Clearing and settlement
SHCH connects with commodity spot exchange, receives in real-time fund freezing, unfreezing, transfer and other instructions sent by physical enterprises via the commodity spot exhcange, and provide deal-by-deal, full-amount fund clearing and settlement services together with spot clearing members.
2.3 delivery and payment
SHCH, together with commodity spot exchange, completes real-time payment vs.delivery for the spot commodity transactions of physical enterprises.
