First, the trading mechanism of spot crude oil and futures is different. Spot crude oil has no delivery period, and can be bought and sold at any time or held all the time. Futures have a delivery date and must be delivered at maturity.

Second, the capital utilization ratio of spot crude oil and futures is different, and the leverage of spot crude oil margin trading can reach 20 to 33 times. The leverage of futures can only reach 8 to 12.5 times.

Third, the trading hours of spot crude oil and futures are different. The spot trading time is from 6: 00 am to 4: 00 am Beijing time every trading day. Futures crude oil trading time is 9: 00 am-165438+0: 30 pm-1:30 pm.

4. The increase limits of spot crude oil and futures are different. There is no limit to the increase of spot crude oil. The daily limit of futures is 3%- 15% according to different futures varieties.

The content of this article comes from: The New Encyclopedia of Financial Law (Fifth Edition) edited by China Law Publishing House.