Section 1 Formation and Development of Futures Market
Main mastery: the formation of futures market; Related categories of futures market; The development of futures market.
Section 2 Characteristics of Futures Trading
Mainly grasp: the basic characteristics of futures trading; The difference between futures trading and spot trading; The difference between futures trading and forward spot trading; The difference between futures trading and securities trading.
Section 3 Functions and Functions of Futures Market
Main mastery: the function of futures market; Risk avoidance function and its mechanism; Price discovery function and its mechanism; The role of futures market.
Section IV Overview of Chinese and Foreign Futures Markets
Main mastery: foreign futures market; Domestic futures market.
Chapter II Composition of Futures Market
Section 1 Futures Exchange
Master: the nature and function of futures exchange; Membership system and company system; General situation, organizational form and membership management of China Futures Exchange.
Section 2 Futures Settlement Institutions
Mainly grasp: the nature, function and organizational form of futures settlement institutions; Futures settlement system; China Futures Clearing House and Futures Clearing System.
Section 3 Futures Intermediaries and Service Institutions
Mainly grasp: the functions, company types and institutional settings of futures companies; The institutional setup, corporate governance structure and risk control system of China Futures Company; Introduce the roles of futures intermediaries and service agencies such as brokers, depository banks for futures deposits and delivery warehouses.
Section 4 Futures Traders
Main mastery: classification of futures traders; Major institutional investors in the international futures market.
Chapter III Futures Trading System and Contracts
Section 1 Futures contracts
Main mastery: the concept of futures contract; Selection of the subject matter of futures contract; Main clauses and design basis of futures contracts.
Section 2 Basic System of Futures Market
Main mastery: margin system; Debt-free day settlement system; Price limit system; Position limit and large household declaration system; Compulsory liquidation system; Information disclosure system.
Section III Futures Trading Process
Master: transaction process; Account opening process; The content of the trading instruction; General trading instructions; Instruction issuing method; Bidding mode; The concept and procedure of settlement; Settlement formula and its application; The concept and function of delivery; Determination of physical delivery method and delivery settlement price; The process of physical delivery; The concept and form of standard warehouse receipt; Cash delivery.
Chapter IV Hedging
Section 1 Overview of Hedging
Mainly grasp: the definition of hedging; The realization conditions of hedging; Definition of hedger; Characteristics of the hedger; The type of hedging.
Section 2 Application of Hedging
Mainly grasp: the application and operation of selling hedging; Application and operation of buy hedging.
Section 3 Basis and Hedging Effect
Mainly grasp: the meaning of complete hedging and incomplete hedging; The concept of foundation difference; Factors affecting the basis difference; The relationship between basis and positive and negative markets; Changes in the foundation; The relationship between basis change and hedging effect; Measurement of hedging effectiveness.
Section IV Expansion of Hedging Operation and Precautions
Main mastery: expansion of hedging operation; Period conversion; Current arbitrage; Basis trading; Matters needing attention for enterprises to carry out hedging business.
Chapter V Futures Speculation and Arbitrage Trading
Section 1 Futures Speculation
Mainly grasp: the definition of futures speculation; The difference between futures speculation and hedging and stock speculation; Types of futures speculators; The function and operation method of futures speculation.
Section 2 Overview of Futures Arbitrage
Main mastery: the concept and classification of futures arbitrage; The difference between futures arbitrage and speculation; The role of futures arbitrage.
Section 3 Futures Arbitrage Trading Strategy
Mainly grasp: the definition of futures spread; Changes in price differences; Calculation of profit and loss of spread arbitrage; Arbitrage trading instruction; Operation and analysis methods of various spread arbitrage; Matters needing attention in futures arbitrage operation; The concept of programmed transaction; The form and design of programmed trading system.
Chapter VI Futures Price Analysis
Section 1 Interpretation of Futures Market
Main mastery: interpretation of futures market table; Interpretation of futures market charts such as K-line chart, bamboo line chart and time-sharing chart.
Section 2 Basic Analysis of Futures Prices
Mainly grasp: the meaning and characteristics of basic analysis; Demand analysis; Supply analysis; Other factors affecting supply and demand; Relationship between supply and demand and equilibrium price.
Section 3 Technical Analysis of Futures Price
Master mastery: the significance of technical analysis; Comparison between basic analysis and technical analysis; Trend analysis, morphological analysis, main index analysis; The relationship between trading volume, positions and futures prices; Wave theory.
Chapter VII Foreign Exchange Futures
Section 1 Overview of Foreign Exchange and Foreign Exchange Futures
Main mastery: the concept of foreign exchange; Exchange rate and its pricing method; Classification of foreign exchange risks; The concept of foreign exchange futures; The emergence and development of foreign exchange futures; Forex futures trading and forward foreign exchange transactions; The difference and connection of foreign exchange margin trading; Major foreign exchange futures contracts on the Chicago Mercantile Exchange.
Section 2 Factors Affecting Exchange Rate
Main mastery: basic economic factors; Macroeconomic policy factors; Central bank intervention, political factors, foreign exchange reserves and other factors that affect the exchange rate trend.
Section III forex futures trading
Mainly master the hedging of foreign exchange futures; Types of speculation and arbitrage and their application methods.
Chapter VIII Interest Rate Futures
Section 1 Overview of Interest Rate Futures
Master: the concept, target and types of interest rate futures; The emergence and development of interest rate futures; Influencing factors of interest rate futures price fluctuation: major interest rate futures contracts in the international futures market.
Section 2 Quotation and Delivery of Interest Rate Futures
Main mastery: the quotation method of short-term interest rate futures in the US market; Quotation and delivery of medium and long-term interest rate futures in the US market.
Section 3 Interest Rate Futures Trading
Main mastery: interest rate futures hedging trading strategy and application; Interest rate futures speculation and arbitrage trading.
Chapter IX Stock Index Futures and Stock Futures
Section 1 Stock Index and Stock Index Futures
Main mastery: the concept of stock index; Major stock indexes; Stock market risk; Stock index futures; The difference between stock index futures and stock trading.
Section 2 Basic System Rules of Shanghai and Shenzhen 300 Stock Index Futures
Mainly grasp: the contents of the terms of the Shanghai and Shenzhen 300 stock index futures contract; Compilation of Shanghai and Shenzhen 300 stock indexes; Shanghai and Shenzhen 300 stock index futures trading rules; Investor suitability system of stock index futures.
Section 3 Hedging Trading of Stock Index Futures
Mainly grasp: the beta coefficient of a single stock and the beta coefficient of a stock portfolio; Optimal hedging ratio; Determination of contract quantity in stock index futures hedging: stock index futures selling hedging; Stock index futures buying hedging.
Section 4 Speculation and Arbitrage of Stock Index Futures
Main mastery: stock index futures speculation strategy; Spot arbitrage of stock index futures; Theoretical price of stock index futures contract; Spot arbitrage operation of stock index futures; No arbitrage interval calculation; Simulation error in arbitrage trading; Intertemporal arbitrage of stock index futures.
Section 5 Stock Futures
Mainly grasp: the meaning of stock futures; Stock futures contract; Characteristics of stock futures trade.
Chapter 10 options
Section 1 Options Overview
Mainly grasp: the meaning and characteristics of options; The classification of options and the concepts of various options; The main contents and related concepts of futures option contract; The content of the option trading instruction; Establishment and settlement of option positions.
Section 2 Composition and Influencing Factors of Royalty
Mainly grasp: the meaning and range of royalties; The meaning and calculation of connotative value; The meanings of real option, virtual option and plane option; The meaning and calculation of time value and the time value of different options; Basic factors affecting royalties.
Section 3 Analysis and Application of Profit and Loss in Option Trading
Main mastery: the basic strategy, profit and loss analysis and application of option trading.
Chapter II Risk Management of XI Futures Market
Section 1 Risk Characteristics and Types of Futures Market
Main grasp: the meaning of risk; Types of futures market risks; Causes of futures market risks; Principles of risk management in futures market; The meaning of risk management; Identification of risks; Prediction and measurement of risks; VaR method; Characteristics of risk management in futures market.
Section 2 Risk Supervision System of Futures Market
Master: futures market related laws and regulations; Relevant administrative regulations and departmental rules; Futures self-discipline rules; The futures market supervision institution; Overseas futures regulatory agencies; China futures regulatory agency; China Securities Regulatory Commission; Local institutions; China Futures Margin Monitoring Center; Futures market industry self-regulatory organization; Self-supervision of futures exchanges; Self-discipline management of futures industry associations; China Futures Association.
Section 3 Risk Management of Futures Market
Main mastery: risk management of regulatory agencies; The content of classified supervision; Risk management of the exchange; Risk management of futures companies; The main risks of futures companies; Internal risk monitoring mechanism of futures companies; Chief risk officer; Risk management of investors; Risk prevention measures for investors.