Futures and warrants are financial derivatives of securities, but the difference is that futures are real hedging products, while warrants are hedging products of securities. Futures can be closed, and warrants are similar to stocks. In terms of trading, futures are divided into various futures exchanges. At present, all futures transactions in China are Shanghai Futures Exchange, Dalian Futures Exchange, Zhengzhou Futures Exchange, Guitang Exchange and Zhengzhou Sugar Exchange. Warrant transactions belong to stock exchanges, only Shanghai Stock Exchange and Shenzhen Stock Exchange. You can refer to the website of China Securities Association and the book "Basic Knowledge of Securities".