Local trading places are the product of exploiting loopholes to play the legal edge ball. Documents No.37 and No.38 in the State Council are strictly prohibited to be traded, which are involved in local trading places. However, local trading places were established with the approval of the provincial government, and the procedures were legal when they were established. However, in pursuit of interests, they dare to take legal risks. Nearly 100 trading venues have been approved nationwide, and from the perspective of trading methods and legal procedures, more than 90% are illegal futures or illegal spot transactions. There is an urgent need for the Supreme People's Court to set things right from a legal point of view, and repel investors' cheated funds through state administrative compulsory means!