On April 10, 2020, China's commercial banks officially began to participate in the treasury bond futures business. As we all know, commercial banks are the largest holders of treasury bonds, and they are faced with the risk of spot yield and market interest rate fluctuation, so it is of certain significance for them to participate in treasury bond futures trading. What is the impact of commercial banks being approved to participate in treasury bond futures? (1) As the largest holder of spot treasury bonds, commercial banks need to avoid interest rate risks. On the premise of participating in treasury bond futures trading, if the spot yield of treasury bonds is expected to fall, you can buy treasury bond futures to obtain the rising income of treasury bond futures. (2) The main business of commercial banks is loans. If it is a loan business with a fixed interest rate, its profit is easily affected by the market interest rate. Treasury bond futures are actually interest rate futures, and their prices are closely related to market interest rates. For loans with fixed interest rates, if commercial banks expect that the loan interest rate will rise in the future, they can sell the treasury bond futures industry to hedge their losses. (3) For the treasury bond futures market, commercial banks have abundant funds, and their participation in treasury bond futures trading can provide more liquidity for the treasury bond futures market. The above is Bian Xiao's sharing. If you want to know more, please pay attention.