The difference between futures companies and futures exchanges

The main difference between a futures exchange and a futures company lies in their different functions:

Futures exchange is the place where futures are listed and traded, and investors finally buy and sell futures contracts on the futures exchange;

Futures companies are intermediaries that are responsible for connecting investors and exchanges. Investors can't buy and sell futures contracts directly on the exchange, but through futures companies.

In fact, this is how futures investment is realized. There is an investor's entrustment first, and then the futures company sends the investor's entrustment to the futures exchange, and then trades.

Functions of futures companies: Acting as an agent to buy and sell futures contracts and handle settlement and delivery procedures according to customers' instructions; Manage customer accounts and control customer transaction risks; Provide customers with futures market information, conduct futures trading consultation and act as trading consultant for customers.

The function of the futures exchange is to realize reasonable economic benefits, including membership fee income, transaction fee income, information service income and other income, on the basis of providing an open, fair and just trading place and effective supervision services for traders.

Extended data:

Futures account:

Opening an account is very simple. First of all, you need to contact a futures company or a futures consultant to negotiate account opening. First of all, you need to contact an appointment futures company. At present, there are 149 futures member companies in the market. So many futures companies can choose the top futures companies. These companies are relatively large futures brand companies, which can help us save transaction costs and get quality services.

After choosing a good company, we can prepare ID cards, bank cards and handwritten signature photos to open an account online. The process is as follows:

(1) Download the futures company account opening app and register with your mobile phone number.

⑵ Read and agree to the futures business agreement, and take photos of your ID card.

(3) Fill in personal details, futures company information and take photos of the front of the bank card.

(4) After the futures Q&A and risk assessment, conduct the artificial video link.

5) Submit the account opening application and wait for the successful account opening message, which contains the successful account opening account number and initial password.

[6] Bank cards are associated with futures accounts in order to facilitate the deposit and withdrawal of funds.

Once the account is opened successfully, T+ 1 can log into the account to save money.

Futures trading mode is T+0, with two-way trading and margin trading. Domestic futures trading hours are Monday to Friday from 9:00- 1 1:00, afternoon 13:30- 15:00, and night trading is 2 1:00- the next day.

Futures trading rules:

1, the t +0 trading mode is implemented, that is, the futures bought by investors on the same day can be sold on the same day;

2. Two-way trading, that is, investors can do more operations or short transactions;

3. Margin system, that is, investors need to pay a certain percentage of margin when trading futures;

4. Forced liquidation system, that is, when the investor's margin is insufficient, the futures company will force liquidation of the investor's position in order to prevent risks.