Mark-to-market profit and loss is one of the concepts of futures trading settlement, and the futures settlement system is "daily debt-free settlement system", also known as "daily mark-to-market system". That is, after the end of each trading day, all customers' positions are settled according to the settlement price, which is included in the profit and set aside the loss. Let's take an example to illustrate the difference between daily mark-to-market gains and losses and floating gains and losses: suppose a customer opens an account with a capital of 50,000 yuan and buys 5 lots of soybeans one day. The opening price is 3 150 and the closing price is 3 135. Then the floating profit and loss is: (3 135-3 150) * 5 =-75 The initial balance (funds) is 50,000, and the final balance is 50,000-75 = 49,925 (for simplicity, the handling fee is not considered). Market value gains and losses are: (3 135-. The customer's equity at the end of the period is 50000-75 = 49925. If the settlement price is 3 170, the floating gain and loss is: (3170-3150) * 5 =100, and the opening balance is 50000. The ending balance is 50000+ 100 = 50 100. Market-making gains and losses are: (3170-3135) * 5 =175. At the beginning (the end of the last trading day), the customer's equity was 49,925, and at the end of the period, it was 49,925. If only one contract is considered (taking multiple orders as an example), the floating gain and loss is "settlement price of the day-opening price" and the mark-to-market gain and loss is "settlement price of the day-settlement price of the previous day". When calculating the customer's funds, if floating profit and loss are adopted, the original customer's fund balance is always used for calculation. If mark-to-market gains and losses are adopted, the customer's equity at the end of the previous trading day shall be calculated. The concept of mark-to-market profit and loss originated from Suzhou Commodity Exchange. Suzhou Stock Exchange clearly used "mark-to-market gains and losses" to settle members in its transaction bill (exchange member settlement bill), while other exchanges used "floating gains and losses" to settle members at that time.

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