2. Standardized futures contracts and hedging mechanisms. Futures contracts are standardized contracts designed by the exchange and announced to the market after approval by the competent authorities. Futures contracts have unified provisions on the variety, trading unit, minimum price change, daily price limit, contract month, trading time, last trading day, delivery date, delivery place and delivery method of basic financial instruments. Except for some contract varieties, the variable is the transaction price of the basic financial instruments.
3. Margin and its leverage. In order to control the risks of futures trading and improve the efficiency, the member brokerage companies of futures exchanges must pay the settlement deposit to the exchanges or clearing houses, and both parties to futures trading must pay a certain amount of deposit to the exchanges or clearing houses through brokers after the trading.
4. Clearing houses and debt-free settlement systems. Clearing house is a clearing house specializing in futures trading, usually attached to the exchange, but established as an independent company. Clearing houses usually adopt membership system.
5. Limited warehouse system. The position limit system is a system for the exchange to prevent excessive concentration of market risks, market manipulation and limit the number of positions held by traders. According to different purposes, you can set the position limit according to the amount of margin, the position limit of members and the position limit of customers.
6. Extended family reporting system. The large account declaration system is a risk control system in which members or customers must declare the account opening, trading, capital source and trading motivation to the exchange when their positions reach the number specified by the exchange. , so that the exchange can examine whether there is excessive speculation and market manipulation in large accounts and judge the trading risk status of large accounts.