Article 2 of the Regulations on the Administration of Futures Trading stipulates that any unit or individual engaged in futures trading and related activities shall abide by these Regulations. The term "futures trading" as mentioned in these Regulations refers to the trading activities in which futures contracts or options contracts are the trading targets by open centralized trading or other means approved by the the State Council Futures Regulatory Authority. The term "futures contract" as mentioned in these Regulations refers to the standardized contract uniformly formulated by the futures trading place and agreed to deliver a certain amount of subject matter at a specific time and place in the future. Futures contracts include commodity futures contracts, financial futures contracts and other futures contracts. Option contracts as mentioned in these Regulations refer to standardized contracts uniformly formulated by futures trading places, which stipulate that the buyer has the right to buy or sell the agreed subject matter (including futures contracts) at a specific price at a certain time in the future.