What are the preconditions for the existence and development of oil futures market?

Hello, the prerequisite for the existence and development of the oil futures market is:

1. The market is fierce and open, with sufficient supply and demand information and developed spot market.

2. The economic system is relatively open, and there is no strict price and import and export control.

3. The financial market in the area where the futures exchange is located is open, and the futures pricing currency is freely convertible under the capital account.

4. The laws and regulations of the country or region where the futures market is located are sound and effective in the supervision of the futures market.

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