A. The commodity variety, quantity, quality, grade, delivery time and delivery place of a futures contract are established and standardized, and the only variable is the price. The standards of futures contracts are usually designed by futures exchanges and listed by national regulatory agencies.
B. Futures contracts are concluded under the organization of the futures exchange and have legal effect, and prices are generated through public bidding in the trading hall of the exchange; Most foreign countries adopt public bidding, while our country adopts computer trading.
C the performance of futures contracts is guaranteed by the exchange, and private transactions are not allowed.
D futures contracts can fulfill or cancel their contractual obligations through settlement of spot or hedging transactions.
The components of a futures contract include:
A. Various transactions
B. Number and unit of transactions
C the lowest change price, and the quotation must be an integer multiple of the lowest change price.
D. daily maximum price fluctuation limit, that is, price fluctuation limit. When the market price rises to the maximum increase, we call it "daily limit", on the contrary, we call it "daily limit".
E. Contract month
F. Transaction time
G. Last trading day: The last trading day refers to the last trading day when futures contracts are traded in the contract delivery month;
H delivery time: refers to the actual delivery time stipulated in this contract;
I. Delivery standards and levels
J. place of delivery
K. security deposit
Length transaction cost