Physical Delivery

All local agricultural products traded on the Commodity Derivative Market can be physically settled at expiry in fulfilment of a futures contract. The exchange makes use of a silo receipt, a transferable but not negotiable document, representing a specific quantity and quality of stock in a registered silo to effect delivery. The silo receipts can be retendered a number of times through the market. When a silo receipt is returned to a storage operator for out loading of the physical product the receipt is only then finally cancelled. The exchange accepts only electronic receipts issued by registered storage operators​.  There are currently 17 registered storage operators with over 200 registered delivery points across South Africa where sellers can decide to tender their delivery.​

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