Futures contracts are standard contracts formulated by the exchange under the supervision of the CSRC, and all members must abide by the standard contracts when participating in on-site transactions. The objects are futures companies (that is, exchange member units) and legal persons or individual investors who participate in futures. The right to operate and the right to change are in the exchange, and members and investors belong to the regulated. A daily contract is the result of negotiation between two parties after listing the rights and obligations of two or more parties, and generally no third-party regulatory agency will participate.