In the futures market, if the spot price is lower than the futures price, the basis is negative, and the forward futures price is higher than the recent futures price. This situation is called "futures premium", also known as "spot discount", and the part where the forward futures price exceeds the recent futures price is called "premium". If the forward futures price is lower than the recent futures price and the spot price is higher than the futures price, the basis is positive, which is called "futures discount" or "spot premium", and the part where the forward futures price is lower than the recent futures price is called "futures discount". In the foreign exchange market, according to the delivery time of foreign exchange transactions, exchange rates are divided into spot exchange rates and forward exchange rates. When determining the forward exchange rate, the trend of the exchange rate is analyzed to determine whether it is rising or falling. If the forward exchange rate is more expensive than the spot exchange rate, it is a premium, otherwise it is a discount, and the corresponding rising and falling prices are the premium amount and the discount amount. Under direct pricing: forward exchange rate = spot exchange rate+premium number (-discount number) Under indirect pricing: forward exchange rate = spot exchange rate-premium number (+discount number) The premium number can be expressed in terms of amount or points.