2. Futures contract scale: the contract scale (contract value or contract amount) can be obtained by multiplying the trading unit by the price. For example, suppose the copper price is 50,000 yuan per ton, because the 1 contract is 5 tons, that is, the amount of the 1 copper futures contract is 250,000 yuan.
3. Quotation unit: the unit used to quote futures contracts in the process of public bidding. The domestic futures quotation unit is RMB/ton. For example, the copper futures on the Shanghai Futures Exchange are quoted at 59,990 yuan/ton instead of 59,990 dollars/ton.
Extended data:
Restrictions on futures trading:
Like the stock market, the price fluctuation in the futures market is limited.
The maximum fluctuation limit of daily price (also known as the price limit) means that the trading price of futures contracts in a trading day shall not be higher or lower than the prescribed price limit, and the quotation exceeding this price limit will be regarded as invalid and cannot be traded.
The range of price limit is the basis for calculating the price limit of each trading day, and the price limit system of different futures products is stipulated by listed exchanges. Generally speaking, the more frequent and violent the price fluctuation of the subject matter, the larger the maximum daily price fluctuation allowed by commodity futures contracts should be.
Baidu Encyclopedia-Futures Contract
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