The completion of futures trading is carried out through the organic connection of futures exchanges, clearing houses, brokerage companies and traders.

First, the customer chooses a futures brokerage company and goes through the account opening formalities in this brokerage company. When the agency relationship between the customer and the brokerage company is formally established, they can issue trading instructions to the brokerage company according to their own requirements. When a brokerage company receives a trading instruction from a customer, it must immediately notify the company's market representative on the exchange, write down the contents of the instruction and hand it over to the company's acquiring department, and the market representative will trade according to the customer's instruction.

In China, the transaction method of computer automatic matching is generally adopted. The settlement institution shall notify the brokerage company in writing after daily settlement. Brokerage companies also provide customers with settlement lists.

If the customer asks to close the position, the process is the same as before. Finally, the market representative hedges (liquidates) the original position contract, and the brokerage company sends the liquidation statement to the customer. If customers don't close their positions, they will implement a daily mark-to-market system. When the book profit is settled at the settlement price of the day, the brokerage firm will pay the profit difference to the customer. If there is a book loss, the customer must make up the difference. The actual profit and loss can only be settled after the customer closes the position.

Futures account

The customer shall at least meet the following conditions:

(1) has full capacity for civil conduct; (2) Having its own funds or other property suitable for futures trading and being able to bear the risks of futures trading. (3) Having a fixed residence; (4) Comply with the relevant provisions of the state and industry.

B. Specific procedures for opening an account:

(1) The customer provides relevant documents and supporting materials.

(2) Issuing risk disclosure and futures trading rules to customers, explaining the risks of futures trading and the basic rules of futures trading. On the basis of an accurate understanding of the risk disclosure and futures trading rules, customers should sign and seal the risk disclosure.

(3) The futures brokerage institution signed a client entrustment contract with both clients, which clarified the rights and obligations of both parties and formally formed an entrustment relationship.

(4) A futures brokerage institution shall provide customers with a special account for futures trading funds, which shall be separated from its own fund account. The customer must have a full deposit in the account before placing an order.

Preparations for entering the market:

(1) psychological preparation. Futures prices fluctuate all the time, the correct judgment is naturally profit, and the wrong judgment is naturally loss. Therefore, it is very necessary to make psychological preparations for profit and loss before entering the market.

(2) mental preparation. Futures traders should master the basic knowledge and skills of futures trading, understand the trading rules of the commodities they participate in, and give trading instructions correctly, so that they can become the winners in the futures market.

(3) Preparation of market information. In the futures market which is completely determined by the law of supply and demand, information is extremely important. Whoever can grasp the market information timely, accurately and comprehensively will win in the highly competitive futures trading.

(4) Draw up a trading plan. In order to control the loss to the minimum and increase the profit, it is necessary to trade in moderation, and to draw up a trading plan before entering the market as a code of conduct for participating in trading.

Business process of futures trading

After the customer has initially accepted the futures theory, and is familiar with and mastered the basic futures trading instructions and operation skills, they will enter the actual trading process.

1. How is the futures price formed? There are two main ways to form futures prices: oral public bidding and computer matching. There are two kinds of oral public bidding methods: continuous bidding system (dynamic disk) and single price system (static disk).

2. Computer matchmaking is a trading method designed according to the principle of oral public bidding. Compared with oral public bidding, this trading method has the characteristics of accuracy and continuity. All futures trading in China adopts the computerized matchmaking trading system.

The process of futures trading

1. Instruction issuing methods include face-to-face entrustment, written entrustment, telephone entrustment and computer self-help.

2. People have the right and obligation to review the customer's instructions, including whether the margin level is sufficient, whether the instructions exceed the validity period and whether the instructions are complete, so as to determine the validity and invalidity of the instructions.

3. After receiving the trading order, the trading order center of the brokerage firm will check whether there is any omission in the trading order and send it to the brokerage market representative of the exchange quickly by telephone.

4. After receiving the instruction, the representative of the brokerage company will input the instruction into the computer as quickly as possible.

5. The command center records the feedback of the transaction results in the transaction form and feeds it back to the customer according to the original process.

6. In principle, the final confirmation of each customer transaction is subject to the final confirmation of the settlement company or the settlement department of the exchange.

7. Every transaction of the customer is recorded and filed by the brokerage company, and the retention period is generally not less than 5 years.

8. The brokerage company will charge a certain commission for every transaction (sale) made by customers.

Analysis method of futures trading

1. basic analysis method: analyze the basic factors that affect the relationship between supply and demand of commodities, such as the country's economic policy, economic environment, the situation of substitutes and even climate, and judge the possible price trend accordingly.

2. Technical analysis method: According to the historical data of futures prices reflected in the chart, the future price trend is predicted through inductive analysis.