Futures is a financial derivative, and its essence is a contract, agreeing to buy and sell at an agreed price at a certain time in the future. There are many kinds of futures, such as commodity futures and stock index futures. Futures have a special delivery method, that is, futures delivery. Futures delivery means that when the futures contract expires, the buyer and the seller make substantial delivery according to the spirit and requirements of the contract, that is, the buyer pays for the purchased goods or stocks, and the seller delivers the goods or stocks to the buyer.

Futures delivery is one of the most important links in futures trading. Before the expiration of each contract, futures delivery will be carried out in strict accordance with the spirit of the contract. Buyers and sellers must carefully understand the rules and regulations of the contract to avoid any disputes during delivery. Some commodity contracts are physical delivery, such as gold and crude oil, which means that the goods need to be actually delivered at the time of delivery. Other contracts, such as stock index futures and bond futures, are all cash delivery, that is, when the contract expires, it only needs to be settled by transfer.

Although there are certain delivery risks, futures delivery is still an important part of the futures market. It can not only eliminate the uncertainty in the market, but also guide the market prices to reach their real long-term equilibrium level. At the same time, a reasonable futures delivery mechanism enables both buyers and sellers to get better protection during delivery and enhance the confidence of trading. Therefore, a correct understanding and handling of futures delivery issues plays an important role in protecting investors' rights and promoting the stable development of the futures market.