Date：2024-12-01 00:42:46Views：1024
1. Diverse Trading Methods:
Domestic futures trading methods are primarily electronic. However, international markets combine electronic trading, open outcry trading, and over-the-counter trading. Additionally, international trading products often have extended trading hours, with some products trading nearly 24 hours a day, such as CME forex, NYMEX precious metals, the three major U.S. stock indices, and U.S. Treasury bond futures. Refer to the contract specifications for the specific trading hours of other products.
2. Trading Hours:
According to exchange regulations, trading hours for different international futures contracts vary. Please consult the contract details for more information. Specific trading hours are subject to the exchange's announcements.
3. Common Types of Orders:
Market Order:
This is an order to buy or sell at the best available price in the market. Customers do not need to specify a price, as the system will automatically execute the trade at the best market price. Some exchanges, such as the Hong Kong Exchange and London Metal Exchange (LME), do not support market orders. For example, placing a market order to buy one lot of August gold futures will have the system automatically execute the purchase at the best available market price.
Limit Order:
Also called a pending order, this is an order where the customer specifies a desired price to buy or sell. The system will execute the trade at the specified price or better. For instance, placing a limit order to buy one lot of August gold futures at $1860 will have the system hold the order on the exchange until the trade can be executed at $1860 or less.
Stop Order:
Also known as a market stop order, it is executed as a market order when the market price reaches the trigger price set by the customer. For example, a buy stop order will execute as a market order when the market price rises to the trigger price. Some exchanges, such as the Hong Kong Exchange and LME, do not support stop market orders. For example, a stop order to buy one lot of August gold futures at a trigger price of $1860 will execute as a market order once the market price reaches $1860.
Stop Limit Order:
When the market price reaches the trigger price, the system automatically places a limit order. For instance, a buy stop limit order triggers a limit buy order at the specified price when the market price rises to the trigger. For example, placing a buy stop limit order for one lot of August gold futures with a trigger price of $1860 and a limit price of $1865 will have the system place a limit buy order at $1865 once the market price reaches $1860.
4. Minimum Trading Unit:
Both domestic and international futures contracts are traded in units called "contracts," with the smallest trading unit being one standard contract, often referred to as one lot. The specifications for standard contracts vary depending on the type of futures contract. Refer to the contract specifications for details.
5. Opening and Closing Positions:
International futures markets recognize only "Buy" and "Sell" orders. Opening and closing position orders used in domestic markets do not apply internationally. If a customer places two opposite orders, the system will automatically offset and close the positions instead of creating a cross-lock order (except for position adjustments on the LME).
6. Price Limit Mechanism:
Many international market products do not have price limit mechanisms. Some products use a circuit breaker mechanism: if prices move beyond a certain threshold, trading pauses ("interruption for continuation"), and if prices continue moving beyond another threshold, trading resumes within a set range ("uninterrupted continuation").
7. Futures Contract Settlement Mechanism:
The last trading day for an international market futures contract is the final trading day for the contract. Note that the trading hours on the last day may differ from regular days. Positions not closed by the last trading day will enter the delivery process. To avoid delivery risks, the company generally forces the closure of long positions by the day before the first notice day or the last trading day, whichever comes first. For cash-settled futures, positions can be held until the end of the final trading session, and settlement will be reflected in the customer’s account balance.
8. Margin and Transaction Fees:
International margins are usually fixed amounts, whereas domestic margins are percentage-based. Margins are categorized as initial and maintenance margins. Initial margin is the amount required to open a position, and maintenance margin is the minimum balance required to keep a position open. If the account balance falls below the maintenance margin, the company may require additional funds. If funds are not added, positions may be forcibly closed.
9. Daylight Saving Time Changes:
Daylight saving time is adopted in some high- and mid-latitude countries to make better use of sunlight. The U.S. observes daylight saving time starting on the second Sunday of March and ending on the first Sunday of November. The U.K. begins on the last Sunday of March and ends on the last Sunday of October.
10. Order Placement Methods:
Trading System: Customers can download the trading platform from the FH Futures website to execute trades.
Hotline Trading: Customers can place orders through the company’s hotline.
Mobile App Trading:Customers can install the company’s trading app on their smartphones to trade.
