Futures, usually refers to a futures contract, is a contract. A standardized contract formulated by a futures exchange to deliver a certain amount of subject matter at a specific time and place in the future. This subject matter, also called the underlying asset, can be a certain commodity, such as copper or crude oil, or a certain financial instrument, such as foreign exchange, bonds, or a certain financial indicator, such as the spot corresponding to the futures contract. Three-month interbank offered rate or stock index. Futures trading is an inevitable product of the development of market economy to a certain stage. Futures trading is the activity or behavior of buying and selling futures contracts. Pay attention to the distinction. Futures delivery is another concept. Futures delivery is the exchange activity or behavior of the subject matter (underlying asset) specified in the futures contract on the expiration date.