I. Definition of securities:

Generally speaking, negotiable securities refer to written documents made to confirm or create rights, indicating that the holder of negotiable securities or a third party has the right to obtain the specific rights and interests owned by the negotiable securities, or to prove that it has acted. According to the different attributes of securities, securities can be divided into voucher securities and marketable securities. Certificate-based securities, also known as priceless securities, refer to securities that cannot make the holder or the third party obtain certain income.

Second, the definition of futures:?

The so-called futures refer to commodities that have not yet expired. This commodity may have been produced but not yet applied, or not yet produced, but it will be produced in the expected time.