To put it bluntly, a futures contract is a future futures contract for physical goods, that is, an agreement between buyers and sellers to deliver physical goods at the current transaction price at some future time.

Futures are divided into commodity futures, financial futures and stock index futures.

The characteristic of futures is the margin system, that is, both parties to the transaction must pay the margin for settlement and guarantee performance. Another feature of futures is forced liquidation. When the position held by the trader exceeds the prescribed limit, or the margin is not added in time, the futures company will forcibly close the position. There is also a large-scale declaration system, that is, when the variety contracts held meet the relevant regulations of the exchange, investors must declare to the exchange.

Futures traders buying or selling contracts are called opening positions, traders buying or selling their own futures contracts are called closing positions, traders buying and selling contracts at the same time are called locking positions, and traders moving their existing positions to last month or next month are called moving positions.