Precautions:
Futures trading originated in America, and the establishment of Chicago Board of Trade (CBOT) 1848 marked the beginning of futures trading.
The emergence of futures trading is not accidental, but based on the development of spot forward contract trading and the extensive commercial practice of commodity producers, traders and processors.
189 1 year, Minneapolis Grain Exchange took the lead in setting up a clearing house, and then Chicago Stock Exchange also set up a clearing house. It was not until the establishment of modern clearing houses that real futures trading appeared and the futures market was fully established.
Therefore, the emergence and development of modern futures trading is the inevitable result of the development of commodity economy and the inherent requirement of the development of social productive forces and the socialization of production.