The original futures trading developed from spot forward trading. The initial spot forward transaction is a verbal commitment by both parties to deliver a certain amount of goods at a certain time. Later, with the expansion of the scope of transactions, oral promises were gradually replaced by sales contracts. This kind of contract behavior is becoming more and more complicated, which requires the guarantee of intermediary agencies to supervise the timely delivery and payment of goods. Therefore, the Royal Exchange, the world's first commodity forward contract exchange, opened in London on 157 1. In order to adapt to the continuous development of commodity economy, improve transportation and storage conditions and provide information for members, 1848, 82 businessmen initiated and organized the Chicago Board of Trade (Board 185 1 Chicago Board of Trade to launch forward contracts; 1865, Chicago Grain Exchange introduced a standardized agreement called "futures contract" to replace the previous forward contract. This standardized contract allows manual contract trading, and gradually improves the margin system, thus forming a futures market specializing in standardized contract trading, and futures become investors' investment and financial management tools. 1882 exchange allows hedging to be exempted from performance obligations, which increases the liquidity of futures trading.
The futures market is a place for futures trading, and it is the sum of all kinds of futures trading relationships. The trading object of futures is the standardized commodity contract formulated by the futures exchange and delivered at some time in the future.
There are four domestic futures exchanges: Shanghai Futures Exchange, Dalian Commodity Exchange, Zhengzhou Commodity Exchange and China Financial Futures Exchange.
Shanghai Futures Exchange: gold, copper, aluminum, zinc, rebar, wire rod, natural rubber and fuel oil.
Dalian Commodity Exchange: soybean, palm oil, soybean meal, soybean oil, corn, polyvinyl chloride (PVC) and polyethylene (plastic).
Zhengzhou Commodity Exchange: sugar, cotton, wheat, rapeseed oil, early indica rice, PTA.
China Financial Futures Exchange: Shanghai and Shenzhen 300 Index Futures, etc.
Futures features: 1, margin trading. 2. Two-way transaction. 3.T+0 trading. 4. Debt-free trading system of the day. Wait a minute. . . .
Professional websites: futures association website and financial futures channel. Financial futures channels of portals such as Xinhua Finance, Sina and Netease. Or the websites of various futures brokerage companies.