The membership-based futures exchange is established by all members * * *, and a certain membership fee is paid as the registered capital. Paying membership dues is one of the basic conditions for obtaining membership, not an investment behavior, and there is no return on investment. The Exchange is a legal person with membership, and bears limited liability for its debts with all its registered capital. The authority of a membership-based futures exchange is a general meeting of all members. The standing body of the general assembly is its elected board of directors. Therefore, the membership futures exchange is a non-profit membership legal person with self-discipline management function. At present, most of the world is a member, including three in China.

Company system

A company-based futures exchange is usually set up by several shareholders for profit. Shares can be transferred according to regulations, and profits come from various fees charged by the exchange for futures trading. It does not participate in the transaction of the subject matter of the contract, but collects transaction fees from participants according to regulations, and shareholders share the profits. Futures exchanges in Britain and Commonwealth countries are generally corporate, while China Financial Futures Exchange is established by Zhengzhou, Dalian and Shanghai Futures Exchanges.