What is the development trend of the modern world futures market?
With the internationalization of the futures market and the new technological revolution in the ascendant, the futures market also presents a new development trend. Among them, electronization, integration and variety innovation are the main development directions of the future world futures market. (1) electronic trend. In the development of modern futures market, not only the management transaction process of trading places and their affiliated institutions is electronic, but more importantly, the whole transaction process and clearing process from customers to exchanges and clearing houses are electronic. The advantage of electronization is that it can reduce the cost and error, help the exchange to realize paperless operation, and also help to develop regional and global futures markets; (2) the trend of integration. The global integration of futures trading mainly means that the trading of the same futures listed product can be operated continuously around the world for 24 hours. Globex plan 1987 may have a decisive impact on the future development of the integration of the world futures market. 1987, CME and Reuters jointly launched the Globex project, namely after-hours trading system. Globex has the characteristics of low cost, strong liquidity and high efficiency. It will have a great impact on regional futures exchanges, and bringing it into the global integrated trading system will have an important impact on the pattern of the whole world futures market. (3) Variety innovation trend. In 1970s and 1980s, the international futures market experienced an unprecedented upsurge of variety innovation, which made the futures market occupy an important position in the current international financial, trade and investment fields. In the future, the innovation of futures varieties will still be one of the important sources for the development of the futures market. This is because the futures market is a financial investment market based on the spot market, and its development is entirely to meet the needs of the spot municipal bureau. With the deepening of international economic integration and securitization of financing instruments, investors will inevitably have new hedging needs and need new hedging instruments. Only by constantly introducing new futures varieties that meet the market demand can the exchange promote the in-depth and lasting development of the futures market.