Difference:
1, the concept is different: a forward contract refers to a contract in which both parties agree to buy and sell a certain amount of certain financial assets at a certain price at a certain time in the future. A futures contract is an agreement in which the buyer agrees to receive assets at a specific price after a specified time, and the seller agrees to deliver assets at a specific price after a specified time.
2. Different trading hours: The trading hours of futures contracts are fixed. Every exchange has strict rules on trading hours. Forward contracts are not.
3. Different trading places: there is no fixed place for forward contracts, and both parties seek suitable objects, while futures contracts are traded on exchanges and are not allowed to be traded over the counter.
Extended data:
Matters needing attention in converting near futures contracts:
1, retail investors are not allowed to enter the delivery month.
2. The main funds will generally start to move positions one month in advance, so if retail investors have long orders, they can complete the next contract one month before the delivery month, such as the 1905 contract, and then consider the next contract from April.
In addition, you need to be careful not to drag it to the end with luck. When the contract is delivered, which direction is generally unilateral, and the change will not be great. The funds will be moved to the next contract. We won't care too much about this contract. We must hurry.
4. It is best to establish new contracts and old contracts at the time of settlement, because one of the characteristics of contract swap is to keep the number of contracts unchanged.
Baidu Encyclopedia-Forward Contract
Baidu Encyclopedia-Futures Contract