Futures price refers to the price of the subject matter of futures contracts formed by open bidding in the futures currency market. There are two main ways of public bidding in the futures market:
One is the way of computer automatic matching, and the other is the way of public bidding.
In the China Stock Exchange, all transactions are automatically matched by computers. In this way, the formation of futures prices must follow the principles of price priority and time priority. The so-called price priority principle refers to the fact that the best price is traded first after the trading order enters the exchange mainframe, that is, the highest buying price and the lowest selling price are traded first.
The principle of time priority means that the trading orders that enter the trading system first are traded first under the condition of consistent prices. According to the above two principles, the exchange host automatically matches the instructions to enter the host, finds out the price acceptable to both buyers and sellers, and finally reaches a transaction and feeds it back to the members who have made the transaction.