Some terms of futures trading:

Futures contracts are standardized contracts made by futures exchanges, which stipulate to deliver a certain quantity and quality of the subject matter at a specific time and place in the future.

Futures commission: equivalent to the commission in the stock. For stocks, the expenses of stock trading include stamp duty, commission and transfer fees. Relatively speaking, the cost of engaging in futures trading is only the handling fee. Futures commission refers to the fees paid by futures traders according to a certain proportion of the total contract value after the transaction.

Margin: refers to the funds paid by futures traders in accordance with the prescribed standards for settlement and performance guarantee.

Settlement: refers to the settlement of the trading gains and losses of both parties according to the settlement price announced by the futures exchange.

Delivery: refers to the process that when a futures contract expires, according to the rules and procedures of the futures exchange, both parties end the liquidation contract by transferring the ownership of the goods contained in the futures contract.

Open position: the trading behavior of starting to buy or sell futures contracts is called "opening positions" or "establishing trading positions".

Liquidation: refers to the behavior of futures traders to buy or sell futures contracts with the same variety, quantity and delivery month but with opposite trading directions, and to liquidate futures transactions.

Warehouse receipt: refers to the standardized delivery certificate issued by the delivery warehouse and recognized by the futures exchange.