Converting futures into spot transactions can also be directly called term cash conversion. It refers to the operation that customers (members) who hold futures contracts of the same variety, the same month and the same direction apply to the futures exchange after consultation, and after obtaining the approval of the futures exchange, the futures exchange will close their futures contracts on their behalf according to the futures prices agreed by both parties, and at the same time conduct trading according to warehouse receipts with the same quantity, variety and direction as the subject matter of the futures contracts. The operation process is detailed as follows. The basic process of cash conversion: 1 find a counterparty; 2 The two parties involved in the transaction negotiate the price; 3. Both parties to the transaction apply to the futures exchange; 4. Approved by the futures exchange; 5 go through the formalities; Pay taxes. For friends with related needs, the agreed price should be within the price fluctuation range stipulated by the futures exchange. As for when it is suitable to transfer the service life, here are two for you: first, both parties who hold reverse positions in the futures market use standard warehouse receipts or commodity transfer time limits other than standard warehouse receipts; Second, buyers and sellers are trading partners in the spot market and have the intention of forward delivery, hoping that the forward transaction price will be stable.