1, calculate the floating profit and loss. According to the settlement price of the current transaction, the settlement institution calculates the floating gains and losses of the open contracts of members and determines the amount of the deposit payable for the open contracts.
The calculation method is:
Floating profit and loss = (opening price settlement price of the day) × positions× contract unit handling fee.
If there is a floating loss in the account and the amount of margin is not enough to maintain the open position contract, the clearing institution will inform the members to make up the difference before the market opens the next day, that is, to add margin, otherwise it will be forced to close the position. If the account is a floating profit, the profit part cannot be withdrawn unless the contract is closed and the floating profit becomes an actual profit.
2. Calculate the actual profit and loss. The profit and loss realized by liquidation is called actual profit and loss.
The calculation method of the actual profit and loss of bulls is:
Profit and loss = (closing price-buying price) × position × contract unit-handling fee
The calculation method of short-term profit and loss is:
Profit and loss = (selling price-liquidation) × quantity held × contract unit-handling fee
In addition, we can better understand the daily mark-to-market system of futures by comparing the settlement systems used in futures and stock trading. The daily liquidation system adopted in futures trading makes the liquidation method and cash flow of futures different from that of stock trading. When the futures price changes with time, the lender's profit, the borrower's loss and the profit and loss are accumulated in turn, and each futures margin account has a net profit or a net loss at any time; Stocks are simply held to buy and sell, and there is no transfer of funds before. According to this requirement, futures contracts have cash inflows and outflows every day, while stocks only have cash flows once on trading days.
With the existence of mark-to-market system and the implementation of daily settlement system, when futures prices fluctuate sharply, futures traders may face considerable negative cash flow risk. Futures investors must calculate the funds that may be needed to meet the daily settlement conditions, and set corresponding dynamic cash flow reserves throughout the investment period. For traders, the requirement for liquidity of funds is improved, while for the market, the mark-to-market system helps to avoid the credit risk of funds.
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