Spot transaction refers to a transaction in which buyers and sellers deliver physical goods immediately or in a short time according to the agreed payment method and delivery method based on the demand for physical goods and the purpose of selling physical goods. In spot trading, with the transfer of commodity ownership, the exchange and circulation of commodity entities are completed at the same time. Therefore, spot trading is the direct embodiment of commodity operation.

Spot trading is a transaction between big banks, and it is also a transaction between big banks acting as agents for big customers. After the transaction is concluded, the payment and delivery of funds shall be completed within two working days at the latest.

1, the characteristics of spot trading

(1) has the longest existence. Spot trading is one of the oldest trading methods and an innovative and flexible trading method in practice. The earliest barter was a spot transaction. With the development of social economy, the breadth and concentration of commodity exchange are constantly expanding, and the specific practices of spot trading are also increasing. From the initial barter to retail, wholesale and trading agent, cash, credit, bills and trust transactions are mostly specific application forms of spot transactions.

(2) The widest coverage. Because spot trading is not limited by trading objects, trading time and trading space, it is also the most widely used trading method. Any commodity can be completed through spot trading, and people can get what they need through spot trading at any time and any place. In people's daily life, the spot transaction of "first-hand money, first-hand goods" is also the most contacted.

(3) The randomness of the transaction is the largest. Because spot trading has no other special restrictions and is more flexible and convenient, the transaction is random.

(4) The shortest delivery time. This is the fundamental difference between spot trading and forward contract trading and futures trading. Spot trading is usually an immediate transaction, the payment is paid off, or the goods are delivered in a relatively short period of time. It should be pointed out that some trading methods, such as credit sales in credit transactions, still belong to the category of spot trading, although there is a certain gap between physical delivery and payment delivery.

(5) The trading price signal is empty. Because spot trading is a kind of trading mode of immediate or short-term delivery, the price of the transaction between buyers and sellers can only reflect the market situation at that time and cannot represent the future market changes, so the spot price has no guiding role in guiding production and operation. If producers and operators arrange future production and business activities at spot prices, they will bear huge price fluctuation risks. This feature of spot trading is its shortcoming.

2. The function of spot trading

The reason why spot trading has a long history and is constantly innovating and enriching with the development of economy is because it has irreplaceable functions of other trading methods.

(1) Spot trading is a direct means to meet the needs of consumers. Spot trading is a trading method that people contact the most. Consumers get all kinds of commodities needed for daily consumption and production consumption, mainly through various forms of spot transactions, especially retail. Therefore, spot trading has a strong vitality, and it has been a widely used trading method in all societies since it came into being.

(2) Spot trading is the basis for the emergence and development of forward contract trading and futures trading. In terms of time, the history of forward contract trading and futures trading is shorter than that of spot trading, especially the history of futures trading is shorter, only 100 years. This is because forward contract trading and futures trading are formed and developed on the basis of the objective needs of spot trading and social and economic development to a certain stage. Therefore, forward contract trading and futures trading will not develop without a certain scale of spot trading or beyond this stage of spot trading.

First, the social status and role of spot trading in the modern economy

The entry point of spot trading into the market operation is e-commerce, participating in the operation of a large number of primary raw materials including agricultural products, metals, building materials and other trading varieties, and developing a professional and in-depth B to B business model.

1 Spot trading provides online fund settlement service for buyers and sellers, which avoids the problem of "triangle debt" of enterprises.

The spot transaction adopts the advanced intelligent network system of transaction settlement, conducts centralized bidding transactions on the Internet, and the trading market conducts unified transactions and funds settlement, thus ensuring the openness, fairness and impartiality of spot transactions. After the transaction is completed, the market will settle the funds for the buyers and sellers, make physical delivery, and record them in real time to ensure the common interests of the buyers and sellers, so as to avoid the serious "triangular debt" problem existing in China enterprises.

The standardization of spot warehouse receipts put an end to "fake and shoddy" goods.

3. Perfect logistics distribution system to meet the distribution needs of different traders.

The formation of spot trading industry has played an irreplaceable role in the development of spot trade circulation in China.

Spot trading is a new thing in the field of spot circulation, and it is still in its infancy in my economic life, but its advanced operation mode and unique functions have aroused widespread concern in the whole society.

Advantages of spot trading

Spot trading is based on the spot market, also known as online spot commodity trading. Because of my vast territory, rich resources and large population, the commodity economy has developed by leaps and bounds. In the near future, half of the goods will be sold online. Since 1997, China has established professional trading markets for various commodities, and the transaction amount of each spot commodity trading market has increased geometrically. This fully shows that spot trading gives us unlimited development space.

1 has many investment members.

1 spot producer 2 spot user 3 arbitrage speculator

In spot trading, what we do is arbitrage speculators! The price fluctuation range of trading varieties listed in the spot market is large, and a perfect trading mechanism is conducive to speculators to trade flexibly, control risks, fully obtain the price fluctuation difference, and thus obtain huge investment returns.

2 The information is clear and the law is obvious.

Spot trading is a centralized bidding, unified matching and online settlement on the commercial Internet, which displays the price quotation in real time, which is helpful for traders to accurately and quickly judge the fluctuation trend of the price quotation.

3. Simple operation and quick investment.

Investors can hold the spot for a long time for physical delivery, or they can buy and sell hedging transactions for a short time and charge the difference. The so-called small investment, small risk, quick return and high income.

Characteristics of spot trading

1 Standardization of spot warehouse receipts

All the terms of the spot warehouse receipt, including the grade, quality, quantity and color of the goods, are predetermined and have the characteristics of standardization.

2. Centralized online transactions

The spot commodity trading market is a highly organized and strictly managed system, and the transaction is finally completed online.

3. Flexible trading mode of two-way trading and hedging mechanism.

Due to the standardization of spot warehouse receipts, most transactions can be discharged from performance responsibility through reverse hedging operation. Traders can buy spot warehouse receipts when the price is low and sell hedging positions after the price rises; You can also sell when the price is high, and then buy a hedge to close the position after the price falls, which will make a two-way profit.

Lever mechanism, which can freely adjust the performance bond.

The performance bond system has always been the primary problem that many traders need to face when they participate in the market. The spot commodity trading market usually provides a performance bond system of 100% to 10%, so that traders participating in the market can choose different performance bond methods according to their actual conditions.

The difference between futures and stocks

The return on investment is different: because of the leverage principle of margin, futures trading can amplify the income, four or two thousand pounds. Futures only need to pay within 10% of the total contract value; In the case of stocks, you must invest 100% of the funds, and interest costs are needed to raise funds.

Trading methods are different: domestic stocks can only be long, futures can be long or short;

Futures account

I. Opening an account

1. Select an account opening institution.

2. Account opening conditions

In any of the following circumstances, it shall not become a customer of a futures brokerage company:

A natural person without or with limited capacity for civil conduct;

Staff of futures supervision departments and futures exchanges;

Company employees and their spouses and immediate family members;

The futures market is forbidden to enter;

Financial institutions, institutions and state organs;

State-owned enterprises or enterprises with state-owned assets holding or leading position that cannot provide the approval documents signed by the legal representative;

The entrusted account opening unit fails to provide authorization documents;

Other circumstances stipulated by the China Securities Regulatory Commission;

3. Time and place of account opening: You can choose to go to the business place of the futures company at any time.

4. Account opening amount: not less than 50,000 yuan;

5. Information required for opening an account:

Personal account: the * and copy of the customer and the authorized person.

Legal person: copy of business license, legal representative and authorized person * and copy;

Second, deposits.

Deposits can be made by cash, telegraphic transfer, money order, check, etc. Only when funds are deposited into our account are telegraphic transfers, drafts and checks deemed to have arrived in our account.

Third, the application transaction code

After the customer fills in the application code table of each exchange, the futures company will handle the application procedures for the trading code for the customer, and the trading can only be carried out after the code is approved.

Fourth, trading.

Verb (short for verb) solution

The settlement department will settle customers' daily transactions, and customers in the business hall will ask for and sign for the statement from the business department computer room every day, and customers who trade online will query the statement through the online query function every day.

Sixth, cancel the household.

After the customer closes the account according to the regulations of the futures company, both parties sign a termination agreement to terminate the agency relationship.

Seven, gold

The finance department of the futures company handles the withdrawal of funds for customers by means of cash, wire transfer, draft or check.

Futures speculation is very similar to the stock market, but there are also obvious differences.

1. Take small shares as an example: shares are fully traded, that is, you can only buy as many shares as you have, while futures is a margin system, that is, you only need to pay 5% to 10% to trade 100%. For example, if an investor has 1 10,000 yuan, he can buy 1000 shares if he buys1000 yuan, and he can clinch a commodity futures contract with110,000 yuan by investing in futures, that is, taking small bets and making big ones.

Second, two-way trading: stocks are one-way trading, and you can only buy stocks first before you can sell them; Futures can be bought or sold first, which is a two-way transaction.

3. Time limit: There is no time limit for stock trading. If the quilt can be closed for a long time, the futures must be delivered at maturity, otherwise the exchange will force the liquidation or physical delivery.

4. Actual gains and losses: The gains from stock investment are divided into two parts, one is the market price difference, and the other is dividends. The gains and losses from futures investment are the actual gains and losses in market transactions.

5. Huge risks: futures are characterized by high returns and high risks due to the restrictions of margin system, additional margin system and forced liquidation at maturity. In a sense, futures can make you rich overnight, or you may be penniless in an instant, so investors should invest carefully.

1: Only a few varieties are active in variety futures, which is convenient for analysis and tracking. The stock variety 1300 is more than one, so it is difficult to look at it once, and it is even more difficult to analyze it.

2. Capital futures are margin transactions, and 5% of the funds and 100% of the transactions can be done, and the funds are enlarged by 20 times, and the leverage is very obvious. Stocks are traded on full margin, so you can buy as many stocks as you have.

3. Trading method Futures is T+0 trading, with short-selling mechanism and two-way trading. The stock is T+ 1, and there is no short-selling mechanism.

4. Participants: Futures participants are manufacturers and distributors who want to avoid price risks, and speculators who are willing to bear price risks and obtain risk profits. Participants in stocks are basically speculators (speculators are forced to become investors when they are stuck in high positions)

5. Function: The most striking feature of futures is that it provides a market for spot dealers and distributors to avoid price risks. The most important function of stock is financing, which is often called financing.

6. Information disclosure: Futures information is mainly about output, consumption and weather in main producing areas, which is reported by professional newspapers with high transparency. The most important thing about stocks is financial statements, and more than 60% of listed companies are fraudulent.

7. Subject: Futures and contracts correspond to fixed commodities such as copper and soybeans. Stocks are securities.

8. Price: The futures price is everyone's expectation of the future trend. Due to the cost of futures commodities, the price will be consistent with the spot price near the delivery month. The stock price is determined by the strength of the dealer's pull, which is closely related to the market trend.

9. Risk: Futures commodities have costs, and excessive deviation of futures prices will be corrected by the market. The risk mainly comes from the participants' reasonable grasp of the position and operation level. Stocks can be delisted, and the share price can also fall very low. Even if you have a high level of operation, it is not easy to see which company is making false accounts, as evidenced by the shares of Zhongke Department and Yinguangxia.

10: Time: Futures have a delivery month and must be delivered at maturity. You can also cancel the performance responsibility through hedging. Stocks can be held for a long time.