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Futures, whose English name is futures, is completely different from spot. Spot is actually a tradable commodity. Futures are mainly not commodities, but standardized tradable contracts based on some popular products such as cotton, soybeans and oil and financial assets such as stocks and bonds.
The subject matter can be commodities (such as gold, crude oil and agricultural products) or financial instruments. The delivery date of futures can be one week later, one month later, three months later or even one year later. A contract or agreement to buy or sell futures is called a futures contract. The place where futures are bought and sold is called the futures market. Investors can invest or speculate in futures.
Financial innovation and reform of futures market and industry go hand in hand in many aspects, such as regulatory system reform, product expansion, business innovation and so on. In the aspect of regulatory system reform, it is mainly to promote the reform of handling fees, hedging, arbitrage, margin and position limit in the futures market to improve market efficiency.
Financial futures refers to a binding standardized contract in which both parties buy and sell a financial instrument at an agreed time and price in the financial market. Futures contracts with financial instruments as the subject matter. Financial futures are generally divided into three categories: currency futures, interest rate futures and index futures.
As a kind of futures, financial futures has the general characteristics of futures, but compared with commodity futures, its contract subject matter is not physical goods, but traditional financial goods, such as securities, currency, interest rates and so on.
Commodity futures refer to futures contracts with physical goods as the subject matter. Commodity futures have a long history and a wide variety, mainly including agricultural and sideline products, metal products and energy products. It is a standardized agreement about the buyers and sellers buying and selling a certain number of physical goods on an agreed date in the future at the price agreed at the time of signing the contract. Commodity futures trading is a standardized contract trading method for buying and selling specific commodities on futures exchanges.
The full name of stock index futures is stock price index futures, which can also be called stock index futures and futures index. It refers to the standardized futures contract with the stock index as the subject matter. The two sides agreed that on a specific date in the future, they can buy and sell the underlying index according to the size of the stock index determined in advance, and then settle the difference in cash after the expiration.