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Basic elements of futures contracts
Trading variety, trading unit, maximum fluctuation limit of daily price, minimum fluctuation price, last trading day, trading time, margin and trading fee.

1. Trading variety: refers to the subject matter of futures trading, such as soybeans and crude oil.

2. Trading unit: refers to the number of the subject matter of each transaction, which is one of the standardized terms of futures contracts.

3. Maximum daily price fluctuation limit: It means that the price fluctuation of futures contracts within a trading day shall not exceed the specified range, which is one of the standardized terms of futures contracts.

4. Minimum price change: refers to the smallest unit of quotation change in futures trading, which is one of the standardized terms of futures contracts.

5. Last trading day: refers to the last trading day before the futures contract is due for delivery, which is one of the standardized terms of futures contracts.

6. Trading time: refers to the opening time and closing time of futures trading, which is one of the standardized terms of futures contracts.

7. Margin: refers to the funds that traders need to pay in advance for performance, which is an important safeguard measure for futures trading.

8. Transaction fee: refers to the fee to be paid for futures trading, which is one of the costs of futures trading.