According to the different term of interest rate futures contract, interest rate futures are divided into short-term interest rate futures and long-term interest rate futures. Among them, the targets of short-term interest rate futures contracts are mainly short-term interest rates and certificates of deposit, and the term does not exceed 1 year. Representative futures in the international market include 3-month Eurodollar futures, 3-month interbank Eurointerest rate futures and 3-month sterling interest rate futures.