1. price discovery: the so-called price discovery refers to the use of open bidding and other trading systems in the market to form a market price that reflects the relationship between market supply and demand. Specifically, the market price can make an expected response to the future trend of the market, and together with the spot market, * * * makes an expectation.

2. Hedging: Hedging refers to trading activities in which the futures market is used as a place to transfer price risks, and futures contracts are used as temporary substitutes for buying and selling commodities in the spot market in the future, so as to insure the prices of commodities that you buy now or need to buy in the future.