Interest rate futures have the following characteristics:

1. Interest rate futures prices and actual interest rates move in opposite directions, that is, the higher the interest rate, the lower the bond futures price; the lower the interest rate, the lower the bond futures price. The higher the price.

2. The delivery method of interest rate futures is special. Interest rate futures are mainly delivered in cash, and sometimes in cash.

Cash delivery uses the bank's existing interest rate as the conversion coefficient to determine the delivery price of the futures contract~