Futures are divided into commodity futures and stock futures. Futures are relative to spot, and delivery methods are different. Spot is cash spot, and futures are contract transactions, that is, mutual transfer of contracts.
There is a time limit for futures delivery. Before the expiration, it is a contract transaction, but the expiration date is to cash the contract for spot delivery. Therefore, large futures institutions often do both spot and futures, which can be used for hedging and speculation.
Ordinary investors often can't deliver in time, so they have to speculate purely, and the speculative value of commodities is often related to factors such as spot trend and duration of commodities.
Opening an account is very simple. You can open an account with a futures company, sign a contract and pay a certain deposit.
Futures trading is a kind of contract trading, and you only need to pay the deposit of the actual price of the corresponding commodity for each transaction. The specific margin ratio is determined by the futures exchange according to market conditions, and the futures company will also make adjustments.
Extended data:
Minimum fluctuation price: refers to the minimum fluctuation range of the unit price of futures contracts.
Maximum fluctuation limit of daily price: (also known as price limit) means that the trading price of futures contracts shall not be higher or lower than the prescribed price limit within a trading day, and the quotation exceeding this price limit will be deemed invalid and cannot be traded.
Delivery month of futures contract: refers to the delivery month stipulated in the contract.
Last trading day: refers to the last trading day when a futures contract is traded in the contract delivery month.
Futures contract trading unit "hand": Futures trading must be carried out in an integer multiple of "hand", and the number of commodities in each contract of different trading varieties should be specified in the futures contract of that variety.
Transaction price of futures contract: it is the value-added tax price of benchmark delivery goods of futures contract delivered in benchmark delivery warehouse. Contract transaction prices include opening price, closing price and settlement price.
If the buyer of a futures contract holds the contract until the expiration date, he is obliged to purchase the subject matter corresponding to the futures contract; And the sellers of futures contracts.
If the contract is held to maturity, he is obliged to sell the subject matter corresponding to the futures contract (some futures contracts do not make physical delivery but settle the maturity difference).
For example, the expiration of stock index futures means that the open futures contract is finally settled according to a certain average value of the spot index. Of course, traders of futures contracts can also choose to reverse the transaction before the contract expires to offset this obligation.
Baidu encyclopedia-futures speculation