1, futures, generally refers to futures contracts. It is a standardized contract formulated by the futures exchange, which stipulates to deliver a certain number of target commodities at a specific time and place in the future. This topic can be commodities, financial instruments or financial indicators. Completely different from the spot, the spot is actually a tradable commodity (commodity), and futures are mainly not commodities, but standardized tradable contracts with certain mass products such as cotton, soybeans, oil and financial assets such as stocks and bonds as the target. Therefore, the subject matter can be commodities (such as gold, crude oil and agricultural products) or financial instruments.
2. Futures commission: 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.
3. In ancient China, there was a commodity credit and forward contract system consisting of grain depots and grain markets. During the Republic of China, there were many futures exchanges in China and Shanghai, and the market was once crazy. The puppet Manchukuo government also set up futures exchanges in Dalian, Yingkou, Fengtian and other northeast 15 cities, mainly engaged in soybean, bean cake and soybean oil futures trade. 1949 after the founding of People's Republic of China (PRC), the futures exchange disappeared in Chinese mainland for decades. By 1992, Zhengzhou had set off another wave of speculation in futures, and various provinces and cities blossomed everywhere. At most, more than 50 futures exchanges opened at the same time, exceeding the sum of futures exchanges in other countries in the world. On 1994 and 1998, China the State Council strengthened supervision twice, suspended some futures products and ordered some exchanges to stop business. Since 1998, there are only three legal commodity futures exchanges in Chinese mainland: Shanghai Futures Exchange, Dalian Futures Exchange and Zhengzhou Futures Exchange. The former deals in energy and metal commodity futures, while the latter two deal in agricultural products futures. On September 8, 2006, China Financial Futures Exchange was established in Shanghai, and the first product launched was the Shanghai and Shenzhen 300 stock index futures.