At this time, Bai Liyan drafted the "Futures Code" and the "Spot Code" in the State Political Supervisor, and the "Ma Tax" drafted earlier was finalized after the review and convergence of the opinions of all parties, and was approved by King Xian, and will be officially implemented in August this year, with a buffer period of three to four months.

Futures trading is more complex than spot trading, the former trading the certificate notes of bulk commodities, and the latter trading all legal tradable physical commodities in a broad sense. The final commodity transaction between the two is finally realized by the way of futures to spot, and the buyer who needs the spot commodity buys the futures bill in his hand, and takes away the standard goods agreed in the note by transferring it to spot at spot or to spot at maturity.

If the price of the bill futures market rises or falls, the holder can also sell the futures note to earn the price difference or stop loss. On the day of the expiration of the delivery period, the position will be forced to close at the real-time price, and the ticket holder will either transfer to the spot, withdraw the goods, or accept the closing price to close the position and retain the funds. Usually speculators are more inclined to close their positions and keep money, while those who really need goods will choose futures to cash out commodities.

Qiao Cheng reviewed some of the contents of the code drafted by Bai Liyan and carefully scrutinized it, and when he saw the explanation of the word 'margin', he couldn't help but worry:

"Lord Si Nong, the matter of 'security deposit', I'm afraid the businessmen will not accept it."

"If you don't accept it, you don't have to participate, and those who participate have to pay a deposit, otherwise when the time comes, the white wolf will not be able to make a profit, in case of a loss, then not only will you lose an individual, but the market will lose even more, and you can't let the businessmen do whatever they want."

"Is it too cautious to be able to participate in the transaction without money?"

"You don't understand this." Bai Liyan put down the pen, clenched her hands and relaxed her tight fingers, and continued: "

"Empire Travel" Chapter 924 Xihuan Tiqin (1) is in the middle of the hand, please wait a while,

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