Futures contract code
The four digits after the futures contract code indicate the delivery time of the futures contract: the first two digits are the delivery year and the last two digits are the delivery month.
Brief introduction of futures contract
Futures contract refers to the standardized contract formulated by the futures exchange, which stipulates to deliver a certain quantity and quality of physical or financial goods at a specific time and place in the future. Futures are usually called futures contracts.
Delivery date of futures contract
The delivery date of a futures contract refers to the date when the goods must be delivered. In commodity futures trading, individual investors have no right to hold positions before the final delivery date. If they don't close their positions themselves, they will be forced to close their positions by the exchange. Only the spot enterprises that apply for hedging qualification from the exchange and get approval can hold their positions until the final delivery date and enter the delivery procedure.