Calculation formula of futures contract
Profit and loss of the day = (selling price-settlement price of the day) * selling quantity+(settlement price of the day-purchase price) * final purchase quantity+(settlement price of the previous trading day-settlement price of the previous trading day) * (selling positions of the previous trading day-buying futures of the previous trading day), futures adopt the margin system, and the margin is generally futures, with the settlement contract value of the day 10%.
Trading margin of the day = settlement price of the day * total position after trading of the day * trading margin ratio. These two formulas explain how futures companies collect the profit and loss settlement and margin of customers' positions after the day's trading (regardless of the profit and loss of the day's trading when customers open positions and open positions).
The contract value is equal to the futures stock index multiplied by the multiplier, so the contract value changes under the influence of the futures stock index and the contract multiplier. Other things being equal, the greater the contract multiplier, the greater the contract value, which means the greater the contract value of stock index futures.
Other things being equal, the contract value increases with the increase of the basic index, so does the contract value of futures. When futures and HSI introduce contract value, the contract value but health index is less than 2000 points (contract multiplier is HK$ 50), so the futures contract value does not exceed HK$ 654.38+ million. In 2009, the value of Hang Seng Index contracts exceeded 2,000 points, and the value of Hang Seng Index futures contracts exceeded HK$ 6,543,800+0,000.
In recent years, in order to attract investors to participate in stock index trading, overseas futures markets with futures contract value have launched mini stock index futures contracts one after another, reducing the value of individual futures contracts. The contract value helps to reduce investors' participation in the futures stock index, so the futures mini-stock index has high liquidity and active trading options.
Interpretation of futures contracts
Futures contracts are standardized contracts designed and approved for listing by exchanges. Holders of futures contracts can perform or fulfill their contractual obligations by accepting spot or hedging transactions.
Futures contract refers to the standardized contract formulated by the futures exchange, which stipulates to deliver a certain quantity and quality of goods at a specific time and place in the future. It is the object of futures trading, and participants in futures trading trade futures contracts on futures exchanges to transfer price risks and obtain risk returns. Futures contracts are developed on the basis of spot contracts and forward contracts, but the most essential difference between them lies in the standardization of futures contract terms.
Futures contracts traded in the futures market are standardized in the quantity, quality grade and delivery grade of the subject matter, premium standard of substitutes, delivery place and delivery month, which makes futures contracts universal. In the futures contract, only the futures price is the only variable, which is generated by public bidding in the transaction.