FinancialFutures refers to a binding and standardized contract for both parties to buy and sell financial instruments at an agreed time and price in the financial market. Futures contracts with financial instruments as the subject matter. Financial futures are generally divided into three categories: currency futures, interest rate futures and index futures. As a kind of futures, financial futures has the general characteristics of futures, but compared with commodity futures, its contract subject matter is not physical goods, but traditional financial goods, such as securities, currency, interest rates and so on. Financial futures came into being in the American market in 1970s. Financial futures has been ahead of commodity futures in many aspects, accounting for 80% of the trading volume of the whole futures market, which has become a successful example of western financial innovation.
There are three kinds of financial futures: currency futures, interest rate futures and index futures. The varieties listed on the exchanges mainly include:
1. Currency futures: mainly including futures contracts such as euro, pound, Swiss franc, Canadian dollar, Australian dollar, New Zealand dollar, Japanese yen and RMB.
Main trading places: Chicago Mercantile Exchange International Money Market Branch, China-US Mercantile Exchange, Philadelphia Futures Exchange, etc.
2. Interest rate futures: short-term US Treasury futures, medium-term US Treasury futures, long-term US Treasury futures, municipal bonds, mortgage-backed securities, etc.
Main trading places: Chicago Board of Trade, International Money Market Department of Chicago Mercantile Exchange, China-US Commodity Exchange.
3. Stock index futures: Standard & Poor's 500 Stock Price Composite Index (S&; P500), new york Stock Exchange Stock Price Composite Index (NYCEComposite), Major Market Index (MMI), Valueline Composite Index (Valueline Composite Index), Japanese Nikkei Index (NIKI) and Hong Kong Hang Seng Index (Hong Kong Futures Exchange).
Main trading places: Chicago Board of Trade, Chicago Mercantile Exchange, new york Stock Exchange and Kansas City Futures Exchange.