The transaction price is the current transaction price at that time, and the settlement price is the weighted average price of that day. For example, the trading of a futures product on a certain day is as follows:

In 2000, 10 lots were sold, in 2020, 5 lots were sold, in 20 lots 1990, and in 20 lots10/5 lots. The settlement price is:

(2000× 10+2020×5+ 1990×20+20 10× 15)÷( 10+5+20+ 15)=200 1

The delivery price of the target commodity on the maturity date is generally the weighted average price of all the transaction prices of futures contracts from the first trading day to the last trading day of the delivery month. The settlement price of future cash conversion adopts the price agreed by the buyer and the seller.

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