(1) Interest rate futures refer to futures contracts with interest rates as the subject matter. The earliest interest rate futures in the world are the mortgage-backed futures of the National Mortgage Association of the United States launched by Chicago Mercantile Exchange 1975. Interest rate futures mainly include long-term interest rate futures with long-term treasury bonds as the subject matter and short-term interest rate futures with two-month short-term deposit rates as the subject matter.
(2) Currency futures refer to futures contracts with exchange rates as the subject matter. Currency futures are produced to meet the needs of foreign trade and financial business in various countries and to avoid exchange rate risks. 1972, the international money market of Chicago Mercantile Exchange launched the first currency futures contract, which was successful. After that. Britain, Australia and other countries have successively established currency futures trading markets, and currency futures trading has become a worldwide trading variety. At present, the currencies involved in the international currency futures contract exchange mainly include British pound, US dollar, German mark, Japanese yen, Swiss franc, Canadian dollar, French franc, Australian dollar and European monetary unit.
(3) Stock index futures refer to futures contracts with the stock index as the subject matter. Stock index futures are the hottest and fastest-growing futures trading in the financial futures market. Stock index futures do not involve the delivery of the stock itself, its price is calculated according to the stock index, and the contract is delivered in the form of cash settlement.
To sum up, the securities department is wrong.