1, spot [1] (actual value) means also known as physical objects, and spot transactions are generally applicable to agricultural and sideline products transactions, small wholesale and retail transactions. In China, retail enterprises generally adopt the method of one-handed delivery and one-handed collection, and two-handed delivery; Spot transactions of wholesale enterprises, in addition to cash on delivery, also take the form of bank collection and acceptance for settlement within a time limit. The difference between spot trading and other trading methods lies in:

(1) For the purpose of trading, it is to obtain the ownership of goods.

(2) In terms of trading methods, it is generally conducted through one-on-one negotiation between the two parties, and it is not necessary to focus on a specific time and place [2].

Interpretation of the English-Chinese dictionary of securities investment by the Commercial Press: spot. English is: actuals；; Cash goods. Also known as real goods. Name. Actuals uses the plural. ① Products that have physical properties and can be actually delivered in the process of commodity futures trading, such as gold and soybeans. When trading, the seller shall deliver the goods to the buyer on the maturity date of the futures contract. In fact, the futures trading of many deliverable commodities has been closed before the delivery date, and there are few actual spot deliveries. 2 spot English is: spot; Spot commodity. Spot under the concept of commodity. That is, goods that can be delivered immediately are ordinary goods traded in the market. After the transaction is completed, the seller delivers it to the buyer, and the buyer pays the purchase price. Rather than commodities traded under futures contracts.

2, futures, generally refers to the futures contract, refers to the standardized contract formulated by the futures exchange, stipulated in a specific time and place to deliver a certain number of subject matter. This subject matter, also called the underlying asset, is the spot corresponding to the futures contract. This spot can be a commodity, such as copper or crude oil, a financial instrument, such as foreign exchange and bonds, or a financial indicator, such as three-month interbank offered rate or stock index. The broad concept of futures includes options contracts traded on exchanges. Most futures exchanges list both futures and options. The delivery date of futures can be one week later, one month later, three months later or even one year later. Investors can invest or speculate in futures. Improper speculation in futures, such as short selling stocks, will lead to financial market turmoil. [ 1]