This subject matter must be as accurate as possible, such as the quality of this article, the number of representatives in each contract, the currency used in the transaction, the location of the subject matter, storage and transportation conditions and so on. These must be detailed and "unique" in order to price him. For example, the price of coke in Dalian Port is different from that in Shanxi.

When these conditions are determined in the futures contract, the price of this commodity is also determined. This determined price is the "benchmark price".