Article 15 Trading refers to the spot transaction of natural rubber and other bulk commodities completed through the electronic trading system of Sinoruex.

Article 16 Sinoruex organizes the electronic trading of various types of natural rubber and other bulk commodities. The specific range of trading will be publicized by Sinoruex separately. Each commodity for trading shall be subject to a standard quality management system. The official organ for quality inspection and trading consultation will be publicized by Sinoruex separately.

Article 17 The electronic trading at Sinoruex includes trading through on-line bidding (i.e. purchase and sales), order-based transaction, futures trading and negotiation-based transaction.

1. For purchase through bidding, the selling member keys in a starting price and buying members compete by giving higher offers. The buying member who offers the highest price within the specified time limit wins the bid.

2. For sales through bidding, the buying member keys in a starting price and selling members compete by giving lower quotations. The selling member who offers the lowest quotation within the specified time limit wins the bid.

In this mode of bidding, only suppliers certified by purchasers are allowed to participate.
 
3. In order-based transaction, members issue orders of purchase or sales through channels provided by Sinoruex. The electronic trading system would then list the orders in terms of prices quoted or offered and issuance time, and automatically match the seller with the buyer and finalize the transaction price according to preset procedures and principles.

4. In futures trading, the trading parties agree to take an authoritative market price or weighted price in a certain future period as the trading price. The trading system would list the orders of purchase and sales in terms of members’ grades and order-issuing time and then match the buyer with the seller. After that, the trading parties only need to agree on the size of transaction.

5. In negotiation-based transaction, the trading parties negotiate with each other on various terms of trading and complete the deal after reaching agreement at Sinoruex.

Article 18 Commodities traded at Sinoruex shall be measured in tons. The currencies for quoting are Chinese RMB and US dollar. Quotations for domestic commodities shall be in RMB while quotations for imported commodities shall be in US dollars. Commodities shall be quoted in forms of RMB/ton or US Dollar/ton.

Article 19 Quoting in RMB shall include tax payment at rates set by competent authorities in China and delivery of goods to the designated place as articulated in the transaction whereas quoting in US Dollar refers to FOB or CIF and does not include tax payment.

Article 20 The electronic trading system takes orders only from members represented by codes set by Sinoruex. The member should be fully responsible for the results from such code-based transactions.