There is a real hedging demand when applying for public goods trading. Enterprises or institutions will have the need to hedge. Before doing so, let the futures company apply to the exchange for hedging authority. Hedging and speculative trading can be conducted in the same trading account. Investors' trading positions are divided into speculative positions and hedging positions. Generally speaking, within the scope of risk control, the exchange does not restrict investors' speculative positions, but the exchange implements the examination and approval system for hedging positions, so in fact only legal person investors with a certain scale of spot background can obtain hedging positions.