1.\x0d\ Financial forward contract, also known as financial forward, financial forward contract and financial forward transaction, means that both parties to the transaction promise to buy and provide a certain financial instrument at a certain time in the future, and sign a contract in advance to determine the price for future delivery. Among the forward contracts as derivative financial instruments, the forward foreign exchange contract is the most common one at present. Financial forward contracts are similar to financial futures, and the differences between them are: standardization and flexibility are different; The development of on-site trading, off-site trading and secondary market is different. \x0d\2。 \x0d\ investment \x0d\ investment refers to investing by signing a forward contract and buying a certain basic financial instrument at a fixed price in a certain period in the future. \x0d\ hedging \x0d\ hedging refers to buying or selling futures to avoid trading risks. Hedging and speculation are both indispensable factors in the forward market. \x0d\ speculation \x0d\ foreign exchange speculation by using forward contracts means that speculators make profits by using forward contracts on the basis of forecasting the changing trend of foreign exchange.