Warrant refers to the securities issued by the issuer of the target securities or a third party other than the issuer, and the agreed holder has the right to buy or sell the target securities from the issuer at the agreed price within a specific period or a specific maturity date, or collect the settlement price difference by cash settlement. Funds have broad and narrow definitions. Fund in a broad sense is the general name of institutional investors, including trust and investment funds, unit trust funds, provident funds, insurance funds, retirement funds and funds of various foundations. Funds in the existing securities market, including closed-end funds and open-end funds, have the characteristics of income function and value-added potential. From the accounting point of view, capital is a narrow concept, which refers to funds with specific purposes and uses. Because the investors of government agencies and institutions do not require investment returns and investment recovery, but require funds to be used for designated purposes in accordance with the law or the wishes of the investors, funds are formed. Foreign currency payment voucher for international settlement. The International Monetary Fund's interpretation of foreign exchange is that foreign exchange is a creditor's right held by monetary management authorities (central bank, monetary institutions, foreign exchange stabilization fund and Ministry of Finance) in the form of bank deposits, treasury bonds and long-term and short-term government securities. Can be used when the balance of payments is in deficit. Pressure-sensitive paper bills are documents made according to a certain form, indicating the obligation to pay a certain amount, and are vouchers for cashiers or delivery. Bill in a broad sense refers to all kinds of securities, such as bonds, stocks, bills of lading, etc. In a narrow sense, negotiable instruments only refer to the negotiable securities for the purpose of paying money, that is, the negotiable securities issued by the drawer according to the negotiable instruments law and unconditionally paid by himself or others to the payee or holder. In China, bills are bills of exchange, checks and promissory notes. A bill generally refers to a negotiable securities issued by a drawer in business, unconditionally agreeing to pay a certain amount by himself or asking others to pay. Holders now have certain rights to buy and sell futures, but the subject matter will be settled or delivered in the future. This subject matter can be gold, crude oil, agricultural products, financial instruments, financial indicators and other commodities. The delivery date of futures can be one week later, one month later, three months later or even one year later. A contract or agreement to buy or sell futures is called a futures contract. The place where futures are bought and sold is called the futures market. Investors can invest or speculate in futures. Improper speculation on futures, such as short selling stocks, will lead to financial market turmoil. Bills include: bills of exchange, promissory notes, checks, bills of lading, certificates of deposit, stocks, bonds, etc. Trust is a special property management system and legal act, and also a financial system. Trust, banking, insurance and securities together constitute a modern financial system.