Having obtained the legal futures business qualification without the approval of the China Securities Regulatory Commission.

What is the definition of illegal futures?

First, institutions and places that engage in activities without approval are illegal; Second, even if the institution is legal, its futures-related business is unapproved and illegal; Third, the business it is engaged in is not called futures in name, but it has futures properties in essence, that is, disguised futures, which is illegal; Fourth, engage in other related businesses without approval, such as investment consulting and asset management.

What is the difference between spot and difference?

1. The biggest difference between spot and futures lies in the different trading objects and the restrictions on the delivery time of commodities. The target of futures trading is a contract to be delivered in a given month in the future, and the contract has a fixed expiration time, that is, the last trading day.

2. The price of futures trading reflects the expectation of future price, and the price is spot price+time cost. However, the subject matter of spot transaction and spot deferred transaction is spot physical object, and there is no limit on delivery time. Traders can declare delivery at any time according to their own needs. The spot transaction price is the current price.

3. Although both spot and futures have the characteristics of two-way and leverage amplification, and also have the function of hedging, spot trading is a spot physical object, which is essentially different from futures.

4 Difference in trading time: Futures have 4 hours trading time in a trading day; Spot can be traded for 22 hours in a trading day, except for the settlement time with the bank for 2 hours in the morning. More flexible in time.

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