For example:
For example, if you have money, you can buy stocks, and futures are leveraged. You only need to pay a few percent to buy futures, which is the deposit.
The margin rate is different according to the fees paid by different products: the margin rate for long and short positions of SSE 50 stock index futures is 10%, and the margin rate for long and short positions of CSI 500 is 15%.
When there is a loss in the contract, there is no way to guarantee the performance of the financial guarantee, so it needs to be supplemented. If the margin is not added within the specified time, the system will force the liquidation, and the risks and procedures arising from the forced liquidation will be borne by the customer. However, if it is because the futures company did not remind it, the futures company will also bear part of it.
Futures, whose English name is futures, is completely different from spot. Spot is actually a tradable commodity. Futures are mainly not commodities, but standardized tradable contracts based on some popular products such as cotton, soybeans and oil and financial assets such as stocks and bonds. Therefore, the subject matter can be commodities (such as gold, crude oil and agricultural products) or financial instruments.
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.
The standardized contract made by the futures exchange stipulates that a certain quantity and quality of the subject matter will be delivered at a specific time and place in the future.
Initial deposit.
In the process of holding positions, traders will have floating profits and losses (the difference between settlement price and transaction price) due to the constant changes of market conditions, so the funds actually available in the margin account can be increased or decreased at any time. Floating profit will increase the balance of margin account, while floating loss will decrease the balance of margin account.
The minimum balance that must be kept in the margin account is called maintenance margin. Maintenance margin: the settlement price is adjusted to the position, and the margin ratio is adjusted to xk(k is a constant, which is called the maintenance margin ratio, which is usually 0.75 in China).
Futures commission: equivalent to the commission in the stock. For stocks, the expenses of stock trading include stamp duty, commission and transfer fees. Relatively speaking, the cost of engaging in futures trading is only the handling fee. Futures commission refers to the fees paid by futures traders according to a certain proportion of the total contract value after the transaction.
Initial margin is the money that traders need to pay when they open new positions. According to the transaction amount and the margin ratio, that is, initial margin = transaction amount * adjusted margin ratio. At present, the minimum margin ratio in China is 5% of the transaction amount, which is generally between 3% and 8% internationally.
For example, the soybean margin ratio of Dalian Commodity Exchange is 5%. If a customer buys five soybean futures contracts at a price of 2700 yuan/ton (each 10 ton), he must pay 6 750 yuan to the exchange (that is, 2700×5× 10×5%).