An exchange is a place where futures are traded. They stipulate which futures commodities can be traded and some specifications. Futures companies are members of the exchange, and individuals and units can only participate in the trading of the exchange through the platform of futures companies.

To put it bluntly, for example, the exchange is a seafood market, the futures company is the owner of a row of stalls in the seafood market, and individuals or enterprises are the seafood operators inside. No matter whether the seafood business is profitable or losing money, it is necessary to pay the rent to the owner, and the owner pays the management fee to the marketing manager. The marketing manager at the beginning is always profitable, and your boss will charge you rent according to your transaction volume. In principle, he won't be in debt. If you don't manage well, you will lose money. However, this market earns fewer people and loses more people.

I'm so talented. Such an apt metaphor, you only offered a zero reward?