Item A, in China, stock transactions are generally settled on T day (trading day), and the transfer of funds receivable and payable is completed on T+ 1 day; Futures trading adopts debt-free settlement on the same day, that is, after daily trading, the profits and losses of traders on that day are settled and funds are transferred between different traders.

Item B, in China, the main purpose of stock trading is to obtain company ownership and gain income (price difference income, dividend income); The main purpose of futures trading is to avoid risks and gain profits (speculative gains and arbitrage gains).

Item C, China's futures trading implements the margin system, that is, in futures trading, any trader must pay a certain proportion of the value of the futures contracts he buys and sells (usually 5% ~ 15%) for settlement and guarantee performance.

Item d, futures trading allows buying and selling positions.