Futures, whose English name is futures, is completely different from spot. Spot is actually a tradable commodity. Futures are mainly not commodities, but standardized tradable contracts based on some popular products such as cotton, soybeans and oil and financial assets such as stocks and bonds. Therefore, the subject matter can be a commodity or a financial instrument.
19901kloc-0/2 Zhengzhou grain wholesale market was established with the approval of the State Council. The futures trading mechanism was introduced on the basis of spot trading, which took the first step in the development of China futures market.
199 1 Shanghai Metal Commodity Exchange opened on May 28th.
1991June 10 Shenzhen Nonferrous Metals Exchange was established.