2 The specific name of China Futures Margin Monitoring Center is China Futures Margin Monitoring Center Co., Ltd. The China Futures Margin Monitoring Center was established with the consent of the State Council and the decision of China Securities Regulatory Commission. On May 18, 2006, it was funded by Shanghai Futures Exchange, Dalian Commodity Exchange and Zhengzhou Commodity Exchange and registered with the State Administration for Industry and Commerce. It is a non-profit corporate legal person.
Its competent department is China Securities Regulatory Commission, and its business is guided, supervised and managed by China Securities Regulatory Commission. The articles of association of China Futures Margin Monitoring Center shall be implemented after being approved by China Securities Regulatory Commission. The general manager and deputy general manager shall be appointed or dismissed by the shareholders' meeting and reported to the China Securities Regulatory Commission for approval. China Securities Regulatory Commission established the Management Committee of China Futures Margin Monitoring Center to deliberate and decide on major issues of China Futures Margin Monitoring Center.
Futures and spot are completely different. Spot is actually a tradable commodity. Futures are mainly not commodities, but based on some popular products such as cotton, soybeans and oil, and financial assets such as stocks and bonds.