Futures trading is the inevitable product of the high development of commodity economy. Its unique functions of hedging, preventing excessive market fluctuation, saving commodity circulation costs and promoting fair competition are of great significance to the development of China's increasingly active commodity circulation system. China's futures trading has made great progress, but due to the lack of corresponding legislation, all localities have their own ways, which makes futures trading in a state of no legal basis and excessive speculation prevails. It is extremely necessary to strengthen the special legislation of futures trading. The so-called futures generally refers to futures contracts, which are standardized contracts formulated by futures exchanges to deliver a certain number of subject matter at a specific time and place in the future. This subject matter, also known as the underlying asset, can be a commodity, such as copper or crude oil, a financial instrument, such as foreign exchange and bonds, or a financial indicator, such as three-month interbank offered rate or stock index. Futures trading is an inevitable product of the development of market economy to a certain stage.