The four digits after the futures contract code indicate the delivery time of the futures contract: the first two digits are the delivery year and the last two digits are the delivery month.

For example, the futures Shanghai Copper 14 12 contract indicates that the futures product is a metal copper contract of Shanghai Futures Exchange, and the delivery time is 20 14 12. (Last trading day: 15 of the delivery month of the contract (postponed in case of legal holidays), and the delivery date: five consecutive working days after the last trading day. )

The spot delivery date is not specified, and people who do spot trading can buy and sell at any time and anywhere, and there is no limit on the delivery date. Generally speaking, the delivery period refers to the delivery period in the futures market, and the futures contract is a trading method that stipulates the price in a certain period in the future, so there will be a delivery period. If investors do not close their positions in time when the futures delivery period comes, they should pay attention.