The counterparty price of futures refers to the future delivery price agreed upon by the buyer and seller of the futures contract when signing the contract. That is, it is the price determined on a contract basis in futures trading. Compared with the spot market, the buyers and sellers of futures transactions often do not know each other, but they all maintain their own interests, and the determination of the counterparty price is to ensure that the rights and interests of both parties are maximized.

The counterparty price of futures is the result of rational bargaining between the two parties, so it may be lower or higher than the current market price. During the pricing process, the futures exchange will not intervene to influence the counterparty price because it is one of the essential elements of the transaction. After the counterparty price is fixed, the price risks of both buyers and sellers in futures transactions on the future delivery date have been determined.

It needs to be emphasized that counterparty prices do not represent future price trends, especially in the absence of effective risk management and investment strategies. Therefore, investors need to master relevant risk knowledge and analysis tools before conducting futures transactions to better understand the meaning and role of counterparty prices. When investing in the futures market, counterparty price is a very important concept. It not only affects investors' trading strategies, but also reflects the supply and demand situation in the futures market, thus providing an important reference for market predictions.