1, the direct object of buying and selling is different: the direct object of spot trading is the commodity itself, including samples, objects and pricing. The direct object of futures trading is futures contracts, that is, how many lots or contracts are bought or sold.
2. Different trading purposes: Spot trading is a transaction of primary currency and primary commodities, or acquiring or transferring the ownership of commodities within a certain period of time, which is a direct means to meet the needs of buyers and sellers.
3. The trading system is different: spot trading is generally one-on-one negotiation and contract signing. The specific content shall be agreed by both parties. If the contract cannot be fulfilled after signing, it will eventually resort to law. Futures trading is conducted in an open and fair manner. One-on-one negotiation (or private hedging) is considered illegal.
4. trading places is different: spot trading is generally not limited by trading time, place and object, and it is flexible, convenient and arbitrary, and can be traded with opponents at any place. Futures trading must be conducted in an open and centralized manner in the exchange according to law, and cannot be traded over the counter.
5. Different guarantee systems: spot transactions are protected by contract law and other laws. If you don't perform the contract, that is, breach of contract, it should be resolved through law or arbitration. In addition to national laws, industry and exchange rules, futures trading mainly guarantees maturity through futures trading systems such as margin.
6. The range of commodities is different: the varieties of spot trading are all commodities in circulation, while the varieties of futures trading are limited. Mainly agricultural products, petroleum, metal commodities and some primary raw materials and financial products.
7. Different settlement methods: spot transactions are cash on delivery, and no matter how long it takes, it is one or more settlements. Futures trading adopts a daily debt-free settlement system, and profits and losses must be settled daily. The settlement price is calculated according to the weighted average of transaction prices.