Futures trading first sprouted in Europe, and there were central exchanges and block exchanges as early as ancient Greece. By the 12 century, this kind of transaction has developed on a large scale in Britain, France and other countries, with a high degree of specialization. /kloc-a relatively standardized futures market appeared in Chicago, USA in the middle of 0/9th century.

Futures trading is an advanced form of market economy developed from trade, which originated in Europe in the12nd century. For organized futures trading, the earliest recorded case appeared in Japan at the beginning of17th century. The first modern futures exchange was established in Chicago, USA in 1848, and the standard contract model was established there in 1865.

In China, the futures exchange appeared in the 1920s. In 1990s, China established a modern futures exchange. At present, there are three major futures exchanges in China: Shanghai Futures Exchange, Dalian Commodity Exchange and Zhengzhou Commodity Exchange, and the price changes of their listed futures products have had a far-reaching impact on related industries at home and abroad.