Futures Exchange: It is the place to buy and sell futures contracts and the core of the futures market. It is a non-profit organization, but its non-profit only means that the exchange itself does not conduct trading activities, and it does not mean that it does not attach importance to interest accounting. In this sense, the exchange is also a financially independent for-profit institution, which realizes reasonable economic benefits, including membership fee income, transaction fee income, information service income and other income, on the basis of providing traders with open, fair and just trading places and effective supervision services. A set of institutional rules formulated by it provides a self-management mechanism for the whole futures market, which enables the principle of "openness, fairness and justice" in futures trading to be realized.

In recent years, under the influence of economic globalization, there have been many mergers and reorganizations between exchanges. The most influential futures exchanges today include:

(1) US market

Mainly in Chicago and new york: Chicago Mercantile Exchange (CBOT), Chicago Mercantile Exchange (CME), which is famous for livestock products, short-term interest rate Eurodollar products and stock index futures, and Chicago Board Options Exchange (CBOE), which is the most successful in index options and individual stock options; The New York Mercantile Exchange (NYMEX: the most famous oil and precious metals) and International Stock Exchange (ISE: Emerging Stock Options Exchange).

2006 10 17 Chicago Mercantile Exchange (CME) announced the merger with Chicago Board of Trade (CBOT), which has been competing in the same city for a hundred years, thus creating the world's largest derivatives exchange, thus giving birth to the world's largest exchange-Chicago Board of Trade Group.

(2) European market

Mainly the European Futures Exchange (EUREX) and Euronext [1], as well as two London commodity exchanges: London Metal Exchange (LME) and International Petroleum Exchange (IPE).

(3) Asia-Pacific futures market

Mainly distributed in mainland Japan, South Korea, Singapore, India, Australia, China, Hongkong and Taiwan Province Province.

Japan's futures market mainly includes commodity exchanges such as Tokyo Industrial Products Exchange (mainly energy and precious metal futures) and Tokyo Grain Exchange (mainly agricultural products futures), as well as financial futures exchanges such as Tokyo Stock Exchange (mainly trading treasury bonds futures and stock index futures), Osaka Stock Exchange (mainly trading 225 index futures) and Tokyo Financial Exchange (mainly trading short-term interest rate futures). South Korea's futures market has developed rapidly in recent years. The most famous is the KOSPI 200 index futures and options under the Korea Exchange Group, which ranks first in the world in recent years. The futures market under the Singapore Exchange Group mainly lists offshore stock index futures, such as Morgan Taiwan Province index futures and Nikkei 225 index futures. The main futures in India include stock index futures and individual stock futures listed on stock exchanges, as well as commodity futures listed on commodity exchanges. The Australian futures market is mainly local stock index and interest rate futures. At present, Chinese mainland has Shanghai Futures Exchange (mainly engaged in futures of industrial products such as metals, energy and rubber), Dalian Commodity Exchange (engaged in futures of agricultural products such as soybeans and corn) and Zhengzhou Commodity Exchange (engaged in futures of agricultural products such as wheat, cotton and sugar). China Financial Futures Exchange (hereinafter referred to as CICC) will list financial futures products, and Shanghai and Shenzhen 300 stock index futures will take the lead in listing. The Hong Kong futures market is dominated by Hang Seng Index Futures and H-share Index Futures under the Hong Kong Stock Exchange Group. Taiwan Province futures market mainly includes stock index futures and options listed on Taiwan Province Futures Exchange.

(4) Futures markets in Central and South America and Africa.

Central and South America are mainly Mexican Derivatives Exchange (mainly trading interest rate and exchange rate futures) and Brazilian Futures Exchange (trading various financial and commodity futures). The African futures market is mainly a futures market under the South African Stock Exchange, listing local financial futures.