What are the commodity futures varieties in China?
China Commodity Futures Variety (I) Agricultural Products Futures
Agricultural products are the earliest commodities that constitute futures trading. Including:
1, grain futures, mainly wheat futures, corn futures, soybean futures, soybean meal futures, red bean futures, rice futures, peanut futures and so on;
2 cash crop futures, including raw sugar, coffee, cocoa, orange juice, palm oil and rapeseed futures;
3. Livestock products futures, mainly including meat products and fur products;
4. Forest products futures, mainly timber futures and natural rubber futures.
At present, American exchanges, especially Chicago Board of Trade (CBOT), are the main centers of agricultural futures.
(2) Nonferrous metal futures
At present, there are 10 kinds of non-ferrous metals listed and traded in the international futures market, namely copper, aluminum, lead, zinc, tin, nickel, palladium, platinum, gold and silver. Among them, gold, silver, platinum, palladium and other futures are also called precious metal futures because of their high value.
Non-ferrous metals are one of the more mature futures products in the world futures market today. At present, non-ferrous metal futures trading in the world is mainly concentrated in London Metal Exchange, the New York Mercantile Exchange and Tokyo Industrial Products Exchange. In particular, the trading price of the London Metal Exchange futures contract is recognized as the pricing standard for non-ferrous metals trading all over the world. Copper futures trading in China Shanghai Futures Exchange has grown rapidly in recent years. At present, the turnover of a single copper variety has surpassed that of the New York Mercantile Exchange, ranking second in the world.
(3) Energy futures
Energy futures started at 1978. As a new commodity futures product, its trading is extremely active and its trading volume has been growing rapidly. At present, it is an important part of the international futures market, second only to agricultural products futures and interest rate futures, and surpassing metal futures.
Crude oil is the most important energy futures. At present, the important crude oil futures contracts in the world are: the New York Mercantile Exchange's light and low sulfur crude oil; Brent crude oil futures contract of London International Petroleum Exchange, etc.
Characteristics of commodity futures investment
(1) leverage mechanism, small and wide. When investing in commodity futures, you can control 100% of the virtual capital only by paying 5% ~ 20% of the performance bond.
(2) transaction convenience. Because the main factors in futures contracts, such as commodity quality and delivery place, have been standardized,
Commodity futures trend
The interchangeability and liquidity of the contract are high.
(3) The information is open and the transaction efficiency is high. Futures trading enables traders to compete fairly under equal conditions through open bidding. At the same time, futures trading has a fixed place, procedures and rules, and it operates efficiently.
(4) Futures trading can be operated in two directions, which is simple and flexible. After paying the deposit, you can buy and sell futures contracts, and you only need a few instructions to reach a transaction in a few seconds or minutes.
(5) The performance of the contract is guaranteed. After the futures transaction is completed, it must be confirmed by the settlement department, and there is no need to worry about the performance of the transaction.
The process of futures trading. open an account
The futures account of stock index includes three stages: finding a suitable futures company, filling in account opening information and recording funds. Futures companies are the link between investors and exchanges. Except for the self-operated members of the exchange, all investors must engage in stock index futures trading through futures companies. For investors, there are currently two channels to find futures companies. One is through the securities company, and the other is for investors to directly find a futures company with a financial futures brokerage business license. These futures companies should have good reputation, standardized operation and smooth trading system.
Investors should read carefully when opening an account? Risk statement of futures trading? , choose the trading method and agree on special matters, then sign a futures brokerage contract, apply for the trading code and confirm the fund account, and finally handle the received bank deposits, and then conduct futures trading after confirmation.
Second, trading.
In principle, the trading of stock index futures is the same as that of securities, and centralized computer bidding is conducted according to the principle of price priority and time priority. Trading orders, like securities, have three kinds of orders: market order, limit orders order and cancellation order. Unlike securities, stock index futures are futures contracts, and the direction of buying and selling is very important, which is also a common mistake made by many stock investors when they do futures trading for the first time. Futures have two positions: long position and short position, which can be opened and closed in trading. Closing positions can also be divided into closing positions and over positions.
In the transaction, we should also pay attention to the terms of the contract. Generally speaking, there are four kinds of stock index futures contracts within half a year, namely, the spot month contract, the next month contract and the last two quarters contract. With the monthly delivery, the contract will be rolled forward once. For example, in September, there are four contracts: September,1October,1February and March of the following year, and the1October contract needs to be delivered at the end of1October.
Third, settlement.
Because futures trading is based on margin, it is necessary to settle investors' daily assets without liabilities. Investors should know how to calculate the financial status of their accounts. The account calculation of futures trading is more complicated than that of stock trading. First of all, the basis of pricing is the settlement price of the day, which refers to the weighted average price of the transaction volume in the last hour of a contract. If there are infinite ups and downs in this hour, the settlement price is the limit price; If there is no transaction in this hour, the weighted average price of the transaction volume in the previous hour is calculated. In the calculation of futures trading account, profit and loss calculation, equity calculation, margin calculation and fund balance are the four most basic contents. When calculating the difference, pay attention to either the equity of the day MINUS the position margin or the fund balance.
If the equity of the day is less than the position margin, it means that the fund balance is negative and the margin is insufficient. According to the regulations, the futures company will notify investors to make up the margin before the market opens on the next trading day, which is an additional margin. If the investor fails to make up the deposit in time, the futures company may implement partial or full compulsory liquidation of the account owner's position until the retained deposit meets the specified requirements. After buying a stock, as long as you don't sell it, the profit and loss are on the books and can be ignored. But futures are margin trading, and profits and losses must be settled every day. Book profit can be withdrawn, but book loss must make up the margin. In order to better protect the capital safety of futures investors, China Futures Margin Monitoring Center was established in May 2006. The website of the center provides an investor inquiry service system, through which investors can inquire about their own transaction settlement reports and other information.
Fourth, delivery
The delivery of stock index futures is also different from stocks. Generally, stock investors are used to spot trading, and it is easy to ignore that stock index futures contracts need to be settled in cash at the contract delivery price of the day, so they need to hold non-spot monthly contracts to hold positions.