Interest rate futures: Interest rate futures refer to futures contracts with bond securities as the subject matter, which can avoid the risk of securities price changes caused by interest rate fluctuations. Interest rate futures can generally be divided into short-term interest rate futures and long-term interest rate futures. The former is mostly based on the three-month interest rate of interbank lending, while the latter is mostly based on long-term bonds with more than five years.
Foreign exchange futures, also known as currency futures, are futures contracts that convert one currency into another at the current exchange rate on the last trading day. Refers to futures contracts with exchange rate as the subject matter, which are used to avoid exchange rate risks. It is the earliest variety in financial futures.