Financial futures trading developed on the basis of commodity futures trading. Produced in the early 1970s. At that time, the fixed exchange rate system centered on the dollar collapsed, and the major western industrial countries implemented a floating exchange rate system. Under this system, exchange rate and interest rate interact and fluctuate violently, which brings great risks to capital investment, international trade and economic life. 1972 on may 16, the international money market under the Chicago mercantile exchange opened the first financial futures-currency futures trading. Later, gold futures, mortgage deposit certificate futures, government bond futures, commercial paper futures and stock index futures were successively opened. After the United States initiated financial futures trading, other countries followed suit. Especially since the 1980s, due to the intensification of interest rate fluctuations in the United States, financial futures trading has made great progress and gradually expanded to major financial markets in the world.