Also known as physical objects, it refers to physical objects that can be transported, stored and used in manufacturing. The spot available for delivery can be converted into cash on a spot or forward basis.

spot price

Spot price refers to the transaction price of goods in spot trading. Spot trading is a kind of trading behavior that is exchanged immediately after the transaction is completed. Generally, the buyer pays immediately, but it can also be paid in installments and delayed delivery. Due to different payment methods, the same spot may have different prices at the same time.

hardworking

The spot price is higher than the futures price (also called callback), which is a reverse market.

Spot discount

In the futures market, if the spot price is lower than the futures price, the basis is negative, and the forward futures price is higher than the recent futures price. This situation is called "futures premium" and "spot discount".

That is, spot price is lower than futures price.

Spot warehouse receipt

The so-called spot warehouse receipt is the certificate that you can buy and sell the standard goods stipulated in the warehouse receipt at the designated warehouse now or in the future. Spot warehouse receipt transaction is to buy and sell spot warehouse receipts in the form of a certain margin.

Spot warehouse receipt trading is very similar to futures trading, which is both a means of commodity trading and a means of financial investment. The difference between its definition and futures trading is that the delivery time of the target goods in the designated warehouse can be a time period from holding the spot warehouse receipt to the last trading day of the spot warehouse receipt. Futures contracts have a clear delivery date for the underlying commodity.

History and present situation of spot warehouse receipt transaction

The spot warehouse receipt transaction1May 1997 17 was approved by the then Ministry of Economy and Trade, and1October 22 1998 was approved by the State Economic and Trade Commission, the State Planning Commission, the China Securities Regulatory Commission, the State Administration for Industry and Commerce, the the State Council Development Research Center, the State Commission for Restructuring the Economy, the Ministry of Domestic Trade, the China Academy of Social Sciences and Beijing Business School. Professor Tao Fei, an expert in finance and trade economics of China Academy of Social Sciences, Professor Dong Furan, a famous economist, Professor Jiang Ping, a jurist, and Professor Chen Baoying, a futures expert, fully demonstrated the brand-new operation mode of spot warehouse receipt trading. The above departments, experts and scholars have conducted in-depth discussions and scientific positioning on the feasibility, legality, sustainable development and marketing strategy of commodity spot warehouse receipt trading from different fields such as economy, politics and law. Spot warehouse receipt transaction has been recognized and supported by the government by virtue of its own advantages and rationality, and has a suitable legal status.

Transactions generally have trading places, and spot warehouse receipt transactions are no exception. The trading places are United Commodity Exchange and Nanjing International Warehouse Receipt Exchange. Through the modern computer network system, the Exchange provides an advanced, fast, convenient and safe trading platform for domestic and foreign spot traders, and organizes traders to participate in the spot warehouse receipt trading of commodities such as peanuts, sugar, corn, rapeseed, soybeans, wheat and rice. Based on the advantages of spot warehouse receipt trading, coupled with the strict management and standardized operation of the exchange, in just a few years, the business volume of spot warehouse receipt trading has grown from small to large, and the exchange has gained a high reputation in the country, which has been widely praised and recognized by superior leaders, business circles and insiders.

Special offers on the list of existing goods and shipping goods.

The so-called spot warehouse receipt transaction is to buy and sell warehouse receipts in the market (in a broad sense). Warehouse receipt transaction is a standardized commodity transaction and the highest form of commodity transaction. As warehouse receipt transaction is a specific transaction form between finance and commodity trade, it is strictly managed by the state in China, and warehouse receipt transaction is not allowed without the authorization of the state.

Therefore, there is a specific explanation for warehouse receipt trading in China, which is to conduct warehouse receipt trading through the authorized commodity trading market designated by the state. Domestic markets (institutes) that can engage in warehouse receipt trading are: United Commodity Spot Exchange, Shanghai Futures Exchange, Zhengzhou Commodity Exchange and Dalian Commodity Exchange. Its joint commodity spot exchange is a professional market designated by the state for spot warehouse receipt trading. The other three exchanges are futures exchanges, and only warehouse receipts are involved in the delivery of futures. Warehouse receipt is the final delivery in futures trading.

Spot warehouse receipt transaction is a transaction mode that takes warehouse receipt as the transaction target, organizes the same goods in different places by computer network, synchronizes centralized bidding, unifies matching, unifies settlement and displays the price quotation in real time. This trading method avoids many complicated trading links under the traditional trading method, making the transaction more convenient and fast.

Period conversion

ExchangeforPhysicals futures (hereinafter referred to as "cash-out futures") refers to the transaction that future positions is converted into a spot position after the long and short parties holding the same delivery month contract reach a spot trading agreement.

The way of cash conversion is: the two parties who have reached an agreement jointly apply to the exchange, and after obtaining the approval of the exchange, the transaction will close the position on their behalf at the closing price agreed by both parties (the spot buyer must hold long positions in the futures market, and the spot seller must hold short positions in the futures market). At the same time, according to the spot trading agreement reached, both parties carry out spot exchange of the same kind and quantity as the subject matter of the futures contract.

Physical options

Spot option is a trading option, mainly based on the spot of the exchange, and the spot option is limited to the futures exchange.