At this point, futures and stocks are the same. The stock exchange only provides opportunities for companies to go public and a platform for stock trading, and does not participate in stock trading itself. Those who participate in stock trading are investors and funds holding Shenzhen and Shanghai shareholder cards.

The same is true for futures. The futures exchange only provides a platform for the listing and trading of various futures products, and does not participate in the trading itself. Participants in the transaction are natural persons and legal persons who open accounts in the exchange, that is, various traders.

Just like a standardized vegetable market. The exchange is to provide vegetable market venues and introduce some vegetable market management regulations. Stocks and futures varieties are like meat, vegetables, aquatic products and so on sold in the vegetable market. Merchants are buyers and sellers of vegetables. The difference is that it is very clear who buys vegetables and sells them in the vegetable market, but in stock and futures trading, it is unclear who buys vegetables and sells them (who buys and sells them).