Futures: 9: 00-11:30; 10:15-10: 30 for exchange.

13:30 - 15:00; Among them,14:10-14: 20 was broken in Shanghai Futures Exchange.

Spot: the delivery method is flexible and diverse, which can be delivered in advance or immediately, with a large proportion of physical delivery. Moreover, if one party breaches the contract in the delivery process, the breaching party needs to compensate the other party for liquidated damages, and the contract can be held all the time, which has good flexibility in physical delivery. For individual investors, there is no mandatory delivery, which greatly reduces the investment risk from the investment point of view, and there is no need to worry about complicated operations such as mandatory physical delivery or contract transfer when the contract expires.

Futures: physical delivery can only be made after the contract expires, and the weight and proportion of physical delivery are very small in futures contracts. In particular, individual investors are almost passive in physical delivery when investing, and it is necessary to force delivery when the contract expires. For individual investors, there will be no small loss, and even the contract can not be delivered because of insufficient margin, so they can only passively transfer the contract.