1. Scope
This standard is Futures Trading Data Exchange Protocol (hereinafter referred to as FTD), comprising architecture, message format, data dictionary, operation mechanism and other contents of data exchange protocol.
This standard is applicable to the data exchange and communication required for trading between futures exchange system and member system. This standard is also applicable to the data exchange and communication required for trading inside futures exchange, from member to member or among futures exchanges.
2. Terms and Definitions
All the terms defined in this chapter are specific to the futures trading, exclusive of the technical terms and the terms referred to in this standard. These terms will be defined or distinguished specifically when adopted in this standard in case that any ambiguity may be aroused.
2.1 Futures-related Terms
2.1.1
Futures Contract
Futures contract (sometimes referred to as Contract in this standard) is a standardized contract established and specified uniformly by the futures exchange to deliver a specified quantity and quality of commodities at a specified future date and place.
Note: all the elements of futures contract other than price and trading parties have been determined.
2.1.2
Futures Exchange
Futures exchange refers to the unified place where futures contract trading is conducted according to the relevant requirements.
2.1.3
Member
Member is the fundamental unit conducting futures trading, delivery, settlement and fund management in the futures exchange.
Note: futures exchange follows membership-based management, thus only members are entitled to direct futures trading in the futures exchange.
2.1.4
Trader
Trader is the representative of a member engaged in futures trading in some futures exchange.
