F0 is the final value of one product and S0 is the present value of another product, which is in line with the no-arbitrage pricing theory. The pricing holding rate of foreign exchange futures is the risk-free continuous interest rate rF of the foreign exchange issuing country. The risk-free continuous interest rate in China is recorded as rD. Under the direct quotation, the relationship between the forward exchange rate Ft and the spot exchange rate St is expressed as. Foreign exchange futures is a centralized form of futures exchange, in which both parties buy or sell another non-domestic currency through open outcry and sign a contract to deliver a standard amount of foreign exchange at an agreed price on a certain date in the future. For the sake of explanation, let's distinguish between forex futures trading in a broad sense and forex futures trading in a narrow sense. Forex futures trading in a broad sense includes foreign exchange futures contracts and foreign exchange options contracts, while foreign exchange futures in a narrow sense refers to foreign exchange futures contracts.

The main contents of foreign exchange futures include:

(1) transaction unit.

② Minimum price change.

③ Maximum fluctuation limit of daily price.

④ Contract month.

⑤ Trading time.

⑥ Last trading day.

⑦ Delivery date.

⑧ Delivery place.