Futures contracts are all agreed standards, such as delivery time and commodity quality. The unit price is generated by the bidding transaction in the futures market. Since the contract is fixed, what remains is to predict the price in a certain period in the future according to the current market fluctuation. Both buyers and sellers will produce their own psychological prices according to market fluctuations. When the psychological price of both parties is the same, a transaction will occur.

As the futures market is an open market, under the premise of ensuring the quality and quantity of goods, traders only reach an agreement on the futures exchange, and the futures exchange, as the trading object of traders, performs the responsibilities and rights equivalent to its trading object. This ensures the continuity of transactions and the activity of the market. One party to the transaction does not need to know or know who the other party is, and the exchange also bears the risk of market changes because it participates in the trading process.

So by signing a contract, you mean a contract between a futures trader and a futures exchange. Whether it is buying or selling, it is directly traded with the futures exchange, and the exchange signs contracts with the other party at the same time, thus establishing a direct channel for trading between the two sides of the exchange.