The first modern futures exchange 1848 was established in Chicago, USA, and 1865 established a standard contract model. In 1990s, China Modern Futures Exchange came into being.
The standardized contract formulated by the futures exchange stipulates that a certain quantity and quality of the subject matter will be delivered at a specific time and place in the future.
Futures commission is equivalent to the commission in the stock. For stocks, the expenses of stock trading include stamp duty, commission and transfer fees. Relatively speaking, the cost of engaging in futures trading is only the handling fee. Futures commission refers to the fees paid by futures traders according to a certain proportion of the total contract value after the transaction.