1, short position: short position means that the direction of your net position is opposite to the direction of market change, resulting in your loss exceeding your customer's rights and interests, and no additional funds have arrived, which means that your book funds are running low. \x0d\ For example, if you have funds of 6,543.8+10,000 yuan and buy 50 lots of soybeans at a price of 4,000 yuan/ton, and the margin ratio is 5%, then you buy 50 lots of soybeans at 6,543.8+10,000 yuan, and the margin for each lot is 2,000 yuan (for simplicity, the handling fee is not considered). \x0d\ If the soybean price drops by 200 yuan, that is, to 3,800 yuan/ton, you will lose 2,000 yuan per lot (per lot 10 ton), and 50 lots will lose 65,438+10,000 yuan, which means you will lose all your funds. This is a short position. \x0d\ But now the risk control measures of futures companies are very complete, and you won't wait until the funds run out before forcibly closing positions (unless there are extreme circumstances, such as sudden limit), so the possibility of short positions is almost zero. \x0d\ \x0d\2。 Backlog: No matter what kind of transaction, the exchange has restrictions on the positions of futures companies (or self-operated members) and each trader. For example, in the upcoming stock index futures contract, each individual trader can't hold more than 200 contracts a month. If it exceeds this amount, it will be oversold. \x0d\ Overpositions will be forced to close by the Exchange, but all positions will be closed after the market opens on the next trading day. \x0d\ In addition, the super warehouse refers to the net warehouse. For example, if you hold more than 400 lots and 500 empty lots in the February stock index contract of 65438, then the net position is "100 empty lots", so there is no overbooking. \x0d\ \x0d\3。 Borrowing positions: For example, a large individual investor wants to buy more than 500 lots of stock index futures contracts in June 5438+February (he strongly sees more), but due to the position limit, his account can only hold more than 200 lots, so the futures company can buy more than 300 lots in other people's standby accounts on his behalf. \x0d\ This is an excuse. When the futures company settled the account for this customer, it was included in his own account. In fact, he held positions in all three accounts of the exchange. \x0d\ \x0d\4。 Warehouse allocation: warehouse allocation is an extension of borrowing warehouse. \x0d\ When a main fund wants to control the disk, they want to make a large number of long positions or short positions, so the position limit of the account they control may not be enough. Therefore, it is necessary to find a large number of spare accounts to "borrow positions", which is usually carried out with the help of futures companies. It may be necessary to use dozens, dozens or even hundreds of personal accounts to divide positions, so as to achieve the purpose of holding a large number of multiple orders or empty orders, resulting in more empty orders or empty orders. \x0d\ warehouse division is strictly an act of market manipulation, which is prohibited by the regulatory authorities. Therefore, the sub-warehouse is very hidden, and the accounts occupied by the sub-warehouse are the accounts of the futures company or the main fund related households, so as not to be seized by the regulatory authorities.