1. Since the introduction of stock index futures trading, there has been a lot of discussion about the "delivery day effect". The so-called "delivery date effect" means that when the delivery date of a stock index futures contract approaches, both long and short parties involved in futures trading use various means to exert influence on futures and even spot prices in order to win favorable contract delivery date prices. In particular, because the stock index futures contract is based on the stock spot index and settled in cash according to the regulations, the spot index will almost play a decisive role in the stock index futures at the final delivery, so a large amount of funds will enter the spot market, which will lead to a sharp fluctuation of the stock index, thus forming the "delivery day effect".

2. For futures contracts, the delivery date refers to the date when the goods must be delivered. In commodity futures trading, individual investors have no right to hold positions before the final delivery date. If you don't close your position by yourself, your position will be forcibly closed by the exchange, and all the consequences will be borne by the investors themselves. Only the spot enterprises that have applied to the exchange for hedging qualification and obtained approval can hold their positions until the final delivery date and enter the delivery procedure, because they have hedging needs and qualifications.

3. Transfer of spot commodities between the seller and the buyer of futures contracts. The delivery place is the delivery warehouse designated by each futures exchange. The delivery method includes that some futures contracts agree on the price at the trading time and complete the delivery off-site; Or after entering the delivery time.