What kind of unit is the futures exchange?

Abstract: Futures Exchange is a non-profit organization that trades futures contracts, providing an open, fair and just trading place for futures traders. There are futures exchanges at home and abroad. China's futures exchanges mainly include Zhengzhou Commodity Exchange, Shanghai Futures Exchange, Dalian Commodity Exchange and China Financial Futures Exchange, while foreign futures exchanges include Chicago Futures Exchange, International Stock Exchange, the New York Mercantile Exchange Futures Exchange and European Futures Exchange. Let's look at all futures trading. 1. What is the nature of the futures exchange?

Futures exchange is a place to buy and sell futures contracts, and it is a non-profit organization. But its non-profit only means that the exchange itself does not conduct trading activities, and non-profit does not mean that it does not pay attention to interest accounting. In this sense, the exchange is also a financially independent for-profit institution, providing traders with an open, fair and just trading place and effective supervision services.

2. What are the futures trading at home and abroad?

1, all domestic futures transactions

(1) Zhengzhou Commodity Exchange (ZCE)

Zhengzhou Commodity Exchange was established in June 1990 65438+ 10/2. It is the first futures exchange in China and the only futures exchange in central and western China. Its trading varieties include strong gluten wheat, common wheat, PTA, No.1 cotton, sugar, rapeseed oil, early indica rice, glass, rapeseed, rapeseed meal and methanol.

(2) Shanghai Futures Exchange (SHFE)

Shanghai Futures Exchange/kloc-0 was established on October 26th, 1990, 165438. At present, futures such as gold, silver, copper, aluminum, zinc, lead, rebar, wire rod, fuel oil and natural rubber asphalt have been listed and traded.

(3)DCE Commodity Exchange

Dalian Commodity Exchange, established on February 28th, 1993, is a futures exchange in Northeast China. There are corn, soybean 1, soybean 2, soybean meal, soybean oil, palm oil, polypropylene, polyvinyl chloride, plastics, coke, coking coal, iron ore, plywood, fiberboard, eggs and other futures varieties listed and traded.

(4) China Financial Futures Exchange

China Financial Futures Exchange was established in Shanghai on September 8, 2006, and it is the fourth futures exchange in China. Trading varieties include stock index futures and treasury bond futures.

(5) Shanghai Energy Exchange

Shanghai International Energy Trading Center Co., Ltd. (hereinafter referred to as Last Energy) is an international trading place for futures market participants established by Shanghai Futures Exchange with the approval of China Securities Regulatory Commission. 2013165438+10.6, SAIC Energy was registered in China (Shanghai) Pilot Free Trade Zone. Its business scope includes organizing the listing, trading, settlement and delivery of energy derivatives such as crude oil, natural gas and petrochemical products, formulating business management rules, implementing self-discipline, releasing market information and providing technology.

(6) Guangzhou Futures Exchange

Guangzhou Futures Exchange was established on 20021654381October 22nd. It is mainly based on serving the real economy and green development, and adheres to the development orientation of innovation, marketization and internationalization, which is of great significance to improving the capital market system in China and helping the high-quality development of Guangdong-Hong Kong-Macao Greater Bay Area's service economy.

2. What are the foreign futures transactions?

(1) US market

Mainly in Chicago and new york: Chicago Board of Trade (CBOT), Chicago Mercantile Exchange (CME), which is famous for livestock products, short-term interest rate Eurodollar products and stock index futures, and Chicago Board Options Exchange (CBOE), which is the most successful in index options and individual stock options; The New York Mercantile Exchange (NYMEX: the most famous oil and precious metals) and International Stock Exchange (ISE: Emerging Stock Options Exchange).

(2) European market

Mainly the European Futures Exchange (EUREX) and Euronext [1], as well as two London commodity exchanges: London Metal Exchange (LME) and International Petroleum Exchange (IPE).

(3) Asia-Pacific market

Japan's futures market mainly includes commodity exchanges such as TOCOM (mainly energy and precious metal futures) and TGM (mainly agricultural products futures), as well as financial exchanges such as TSE (mainly trading treasury bonds futures and stock index futures), Osaka Stock Exchange (OSE) and TIFFE (mainly trading short-term interest rate futures). In recent years, the trading volume of options ranks first in the world. The futures market under SGX Group mainly lists offshore stock index futures, such as Morgan Stanley futures and Nikkei 225 index futures. The main futures in India include stock index futures and individual stock futures listed on stock exchanges, as well as commodity futures listed on commodity exchanges. The Australian futures market is mainly local stock index and interest rate futures. At present, Zhengzhou Commodity Exchange (dealing with futures of agricultural products such as wheat, cotton and sugar), Dalian Commodity Exchange (dealing with futures of agricultural products such as soybeans and corn), Shanghai Futures Exchange (mainly dealing with futures of industrial products such as metals, energy and rubber) and China Financial Futures Exchange (hereinafter referred to as China Financial Futures Exchange) will list financial futures, and Shanghai and Shenzhen 300 stock index futures will be listed first. The Hong Kong futures market is dominated by Hang Seng Index Futures and H-share Index Futures under the Hong Kong Stock Exchange Group. Taiwan Province futures market mainly includes stock index futures and options listed on Taiwan Province Futures Exchange.

(4) Other markets

Central and South America are mainly Mexican Derivatives Exchange (mainly trading interest rate and exchange rate futures) and Brazilian Futures Exchange (trading various financial and commodity futures). The African futures market is mainly a futures market under the South African Stock Exchange, listing local financial futures.

3. Do futures transactions have to be conducted on the exchange?

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Futures trading has the characteristics of centralized trading, that is, futures trading must be carried out in the futures exchange, and OTC investors can only entrust brokerage companies to participate in futures trading. All futures transactions are settled through the futures exchange, which becomes the counterparty of any buyer or seller, providing guarantee for each transaction, and investors do not have to worry about performance.

Of course, the internet is very developed now, and futures traders can operate directly on futures software without going to the futures exchange, but in fact, futures software sends investors' instructions to the futures exchange and then trades.