I. Similarities

1, all special trading forms strictly managed and authorized by the state are traded in a standardized form and must be traded in the trading market designated by the state.

2. The trading method is the same: T+0 trading system (positions can be closed on the same day) and short selling system are adopted. It is judged that in the case of a market decline and a position contract, you can sell it as long as you provide a performance bond, and then buy it afterwards to make up the position.

3. The commodities referred to in the exchange are basically the same, and they are all raw materials for mass production: soybeans, adzuki beans, sorghum, soybean meal, rice, mung beans, plywood, natural rubber, copper, aluminum, coal and so on.

4. Implement the trading price limit system.

Second, differences.

1. Different transaction targets: the transaction targets of medium and long-term spot electronic transactions are standardized commodities, which belong to the category of spot transactions, while futures transactions are standardized contracts, not physical commodities.

2. Different delivery forms: medium and long-term spot electronic transactions adopt a combination of random delivery and instant delivery; Futures is a form of forced delivery at the time stipulated in the contract. Delivery at any time-delivery can be made at any time after the transaction, and delivery will be made after the market delivery department is successful in matching; Immediate delivery-immediate delivery when the transaction is completed.

3. The risk of futures trading is much greater than that of long-term spot electronic trading.