Short selling: also known as short selling, that is, the price falls and investors make money;

Close the position: close the position of the investor, cancel the contract and leave the market;

Closing position: it means opening position today and closing position today. In the previous period, many products traded with Zhengshang Institute and Shanghai International Energy Center were exempt from futures commission (gold, copper, aluminum, cotton yarn, red dates, PTA, sugar and crude oil), while many products traded with Dashang Institute and CICC were charged extra commission (iron ore, coking coal, coke, joinery board, CSI 300, SSE 50 and CSI 500). Please understand.

Ping yesterday's position: it means that the position was closed yesterday, which corresponds to Ping today's position.

Commodity futures and financial futures. Commodity futures are divided into industrial products (which can be subdivided into metal commodities (precious metals and non-precious metals) and energy commodities), agricultural products and other commodities. Financial futures are mainly traditional financial commodities (tools) such as stock index, interest rate and exchange rate. All kinds of futures trading include options trading.

Commodity futures

Agricultural products futures: such as soybean, soybean oil, soybean meal, indica rice, wheat, corn, cotton, sugar, coffee, pork breast, rapeseed oil and palm oil.

Metal futures: such as copper, aluminum, tin, lead, zinc, nickel, gold, silver, rebar, wire, etc.

Energy futures: such as crude oil (plastics, PTA, PVC), gasoline (methanol) and fuel oil. Emerging varieties include temperature, carbon dioxide emission quota and natural rubber.

Stock index futures

Stock index futures: such as FTSE index in Britain, DAX index in Germany, Nikkei average index in Tokyo, Hang Seng index in Hong Kong, Shanghai and Shenzhen 300 index, etc.

Interest rate futures: Interest rate futures refer to futures contracts with bond securities as the subject matter, which can avoid the risk of securities price changes caused by interest rate fluctuations. Interest rate futures can generally be divided into short-term interest rate futures and long-term interest rate futures. The former is mostly based on the three-month interest rate of interbank lending, while the latter is mostly based on long-term bonds with more than five years.

Foreign exchange futures, also known as currency futures, are futures contracts that convert one currency into another at the current exchange rate on the last trading day. Refers to futures contracts with exchange rate as the subject matter, which are used to avoid exchange rate risks. It is the earliest variety in financial futures.

Metal is one of the more mature futures products in the world futures market today. Metal futures trading in the world is mainly concentrated in London Metal Exchange, the New York Mercantile Exchange and Tokyo Industrial Products Exchange. In particular, the trading price of futures contracts on the London Metal Exchange is recognized as the pricing standard for non-ferrous metals trading all over the world.

The emergence of futures trading provides a place and means for the spot market to avoid price risks. Its main principle is to use futures and spot markets for hedging transactions. In the actual production and operation process, in order to avoid rising costs or falling profits caused by changing commodity prices, futures trading can be used for hedging, that is, buying or selling futures contracts with the same quantity but opposite trading directions in the futures market, so that the gains and losses of futures and spot market transactions can offset each other.