Futures should be settled daily without debt. The settlement price is the benchmark price of the trading margin of the open contract and the profit and loss settlement of the day after the end of the day's trading. The settlement prices of commodity futures and financial futures are calculated in different ways.

1, Shanghai Futures Exchange, Zhengzhou Commodity Exchange and Dalian Commodity Exchange: the settlement price of the day is the weighted average price of the transaction price of a futures contract according to the volume; If there is no transaction price on that day, the settlement price of the previous trading day shall be the settlement price of that day.

2. China Financial Futures Exchange: The settlement price of the day refers to the transaction price of a futures contract in the last hour weighted by the volume. On the delivery date, the settlement price shall be calculated according to the arithmetic average price of the last two hours.

The core content of futures settlement business is the daily mark-to-market system, that is, the daily debt exemption system.

(1) Calculate the floating gain and loss. According to the settlement price of the current transaction, the settlement institution calculates the floating gains and losses of the open contracts of members and determines the amount of the deposit payable for the open contracts.

Floating profit and loss = (settlement price of the day-opening price) x position x contract unit-handling fee.

If it is positive, it means that it is a long floating profit or a short floating loss; If it is negative, it means long floating loss or short floating profit. If the margin amount is not enough to maintain the open position contract, the clearing institution will inform the members to make up the difference before the market opens on the next trading day, that is, to add margin, otherwise they will be forced to close their positions. If there are floating profits, members can't put forward this part of the profits unless the liquidation contract is closed and the floating profits are turned into actual profits.

(2) Calculate the actual profit and loss. The profit and loss realized by liquidation is called actual profit and loss. Most contracts in futures trading are closed by liquidation.

The calculation method of the actual profit and loss of bulls is: profit and loss.

= (closing price-buying price) x position x contract unit-handling fee

The calculation method of short profit and loss is: profit and loss = (selling price-closing price) x holding quantity x contract unit-handling fee.