As a direct participant and intermediary in futures trading, futures brokerage companies have a core influence on futures trading risks. The risk of the exchange (clearing house) is that the futures brokerage company suffers serious losses and cannot replace the risk that occurs when the customer performs the contract. The short position of customers is not only the risk of customers, but also the risk of futures brokerage companies. 1. Manage risk. Mainly refers to the possible losses caused by improper management of futures brokerage companies. For example, futures brokerage companies trade for customers without the entrustment of customers, or start trading before the funds in customers' accounts are in place, which will cause risks and losses.

2. Predict risks. When making predictions, the personnel of futures brokerage companies often have deviations due to complex price changes, which will cause losses to customers, lose the trust of customers and shrink the transactions of futures brokerage companies.

3. Business risks. The proficiency of futures brokerage company's business operation directly affects the company's performance. Important business operation means include how to advise customers to make reasonable risk diversification investment, how to help customers place orders accurately and quickly, and how to make effective trading plans. For brokers, business risks always exist.

4. Customer credit risk. When a futures brokerage company trades on behalf of a customer, if the customer fails to perform or fails to perform the contract, the futures brokerage company will perform the contract on behalf of the customer. The credit crisis of any customer will affect the performance of futures brokerage companies, so it is very important to know the credit status of customer funds. There are two kinds of customer credit risks: first, customers cannot perform their contracts due to major events such as changes in legal representative and ownership, deterioration of business conditions, and force majeure; Second, the futures market has undergone major changes, and the price has changed dramatically, which is unbearable for customers and cannot be fulfilled.

5. The risk of vicious competition in the economic field. The operation risk of futures brokerage companies is very high. In order to win more customers, futures brokerage companies often compete to reduce the commission rate, reduce the handling fee and improve the service quality. The competition between futures brokerage companies often reduces the average profit rate of the industry, and also makes a large number of unfair futures brokerage companies go bankrupt. 1, control customer credit risk

(1) Conduct a detailed investigation on the source of customers' funds to ensure that customers have enough funds to engage in transactions, and shut out those customers who have poor credit standing and do not meet the investment requirements. Futures companies should provide necessary training to customers, strengthen their risk awareness, improve their trading skills, and reduce the possibility of customers suffering heavy losses.

(2) Check the position limit according to the customer's credit status. In order to control the trading risk, futures brokerage companies generally charge a certain percentage of fees to customers on the basis of the margin ratio stipulated by the exchange, otherwise the risk is great and there is no room for manoeuvre. Therefore, many futures brokerage companies set the maximum position limit for customers to control the trading scale and prevent risks.

2. Strictly implement the system of margin and additional margin.

Margin In order to ensure customers' performance, the margin standard of futures brokerage companies is generally higher than that of exchanges. The customer must add the deposit within the specified time limit, so that there is no debt every day. When the customer fails to add it in full and on time, it will be forced to close the position. Dealing with customers' funds in transit is also an important part of risk control. Due to the limitation of the bank settlement system, there will be some refunds or empty checks. Therefore, the customer's in-transit funds can not be used to open new positions, but can only be used as additional margin; When the market price fluctuates violently, the funds in transit cannot be used as the basis for not being forced to close the position.

3. Strict management

It is strictly forbidden to seek personal gain by illegal means to disrupt normal transactions; Financial supervision must adhere to the authenticity of finance and settlement, and comprehensively supervise the operation of customers and their own funds in the whole process of futures trading.

4. Strengthen employee management and improve enterprise operation ability.

Futures brokerage companies should strengthen personnel training, improve the quality of employees, improve the post responsibility system and post management rules of on-site and off-site brokers, strengthen professional ethics education and business training of brokers, and enhance market competitiveness.