Futures foreign exchange trading refers to buying and selling a certain amount of another currency in US dollars at a given exchange rate on an agreed date. There are similarities and differences between futures foreign exchange trading and contract spot trading. Contract spot foreign exchange is bought and sold through banks or foreign exchange trading companies, and futures foreign exchange is bought and sold in specialized futures markets. At present, the futures markets in the world mainly include: Chicago futures market, the New York Mercantile Exchange futures market, Sydney futures market, Singapore futures market and London futures market. The futures market must include at least two parts: one is the trading market and the other is the clearing center. After the buyer or seller of futures trades on the exchange, the clearing center becomes the counterparty until the futures contract is actually delivered. Futures foreign exchange and contract foreign exchange transactions are both related and different. This paper introduces the specific operation mode of futures foreign exchange from the perspective of comparison between the two.

The number of futures foreign exchange transactions is exactly the same as that of contract spot foreign exchange transactions. Futures foreign exchange trading is at least one contract, and the amount of each contract has different provisions in different currencies. For example, a pound contract is also 62,500 pounds, the yen is12,500,000 yen, and the euro is125,000 euros.

There are strict rules on the delivery date of futures foreign exchange contracts, but not spot foreign exchange transactions. The delivery date of futures contracts is stipulated as Wednesday of the third week of March, June, September and 65438+February in a year. Similarly, there are only four contract delivery days in a year, and you can buy and sell at other times, but you can't deliver. If the bank is closed on the delivery date, it will be postponed for one day.

The price of futures foreign exchange contracts is expressed by how many dollars a foreign currency is equal to. So except for the pound, the futures foreign exchange price and the contract foreign exchange rate are exactly the reciprocal. For example, the Swiss franc futures price in June 5438+February is 0.6200, and the reciprocal is exactly 1.6438+026.

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