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Why does the existence of spot forward market still produce futures market?
1. The spot market is the premise and material basis for the operation and development of the futures market.

(1) The emergence of the futures market is the result of the continuous extension and deepening of the connotation of the spot market.

(2) The operation and development of futures market is based on the material needs of market operation.

(3) There is an inherent quantitative proportional relationship between the spot market and the futures market.

2. Futures market can guide and adjust the development of spot market. The development of futures market should be based on spot market. However, once the futures market is formed and developed under the impetus of the inherent requirements of the spot market, it will react to the spot market and actively adjust and guide the operation and development of the spot market through its unique economic functions.