The trading code of two-year treasury bond futures is TS, the trading code of five-year treasury bond futures is TF, and the trading code of ten-year treasury bond futures is T.
Treasuryfutures refers to the derivative trading method of treasury bonds, which determines the buying and selling prices in advance through organized trading places and delivers currencies and bonds at a specific time in the future. Treasury bond futures is a kind of financial futures and an advanced financial derivative. It came into being against the background of the instability of American financial market in 1970s, in order to meet the needs of investors to avoid interest rate risk. Treasury bond futures are one of the most active financial futures in the world. On September 6, 20 13, treasury bonds futures were officially listed and traded on China Financial Futures Exchange.
Futures trading is a complex trading method, which has the following main characteristics different from spot trading:
Treasury bond futures trading does not involve the transfer of bond ownership, but only involves the risk of price changes related to this ownership.
Treasury bond futures trading must be conducted at designated trading places. The futures trading market aims at opening and liberalization, and OTC and private hedging are prohibited.
All treasury bond futures contracts are standardized contracts. Treasury bond futures trading is a leveraged transaction, and a margin system is implemented.
Treasury bond futures trading is subject to a debt-free day settlement system.
Generally speaking, physical delivery is not common in treasury bond futures trading.
Speculation strategy
Speculation is a kind of trading behavior to gain profits by buying too low and selling too high in price changes. In the future, the price of treasury bonds futures will also change with the spot price of treasury bonds, so there will also be speculative trading. Speculation can be divided into long-term speculation and short-term speculation according to the different directions of forecast ups and downs. The so-called long-term speculation means that the price will rise in the future, long positions will be established when the current price is low, bonds will be held for rising, and profits will be made through liquidation or hedging after the price rises. Similarly, short-term speculation refers to the expectation of price decline, the establishment of short positions, and then the liquidation of profits after the price decline. As far as strategies are concerned, they are generally divided into the following categories:
Position trading Position trading means that speculators predict that there will be a rising or falling market in the future, establish corresponding positions at present, and hedge at the end of the future market. This is the strategy used by most professional investors. This trading strategy is characterized by long duration, mainly based on the judgment of fundamental trends, and is one of the most common trading strategies.
Day trading refers to the strategy that speculators only pay attention to the market changes of the day, open positions earlier and end trading before the closing of the day. This is a strategy used by a few non-professional speculators. This kind of transaction is short-term and is often used by primary traders or news groups.
Trading on the daily trading day means that speculators observe the market at any time, even if the fluctuation is not big, they actively participate in it, buy or sell it quickly, and the amount of each transaction is huge, earning meager profits. This strategy is characterized by fast turnover and low profit. Generally, it is a procedural quantitative investment method or a trader operation method.