Abstract: Futures call auction is an important trading method, and its timing is crucial. This paper will analyze the timing of futures call auction from the definition, timing, influencing factors and improvement measures of futures call auction.

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1. Futures call auction refers to a way that designated institutions such as futures exchanges collect quotations from participants, and finally form the optimal price through quotation comparison, so as to realize futures contract trading.

2. The timing of futures in call auction is very important. Generally speaking, the futures call auction time is decided by the futures exchange. The daily call auction time is generally 9: 00-9: 30, 15: 00- 15: 30, but the time can also be adjusted according to market conditions.

3. The time of futures call auction is influenced by many factors, including market demand, investor demand, supervision of futures exchange, stability of trading system, participation of quotation participants, etc.

4. In order to improve the time of futures call auction, the futures exchange should strengthen the management of quotation participants and strengthen the maintenance of trading system, and at the same time, it can change the time schedule of call auction according to market demand.

5. Futures call auction time is an important part of futures trading, so the management of futures call auction time should be strengthened to ensure the normal futures trading.

6. The time of futures call auction is an important consideration for investors to choose futures trading. The futures exchange shall strengthen the management of futures call auction time to ensure that the interests of investors are effectively protected.