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Futures Trading System
Let’s learn more about Futures Trading System For many decades, traders have been in the habit of calling their broker on the market to have them execute trades for them. In recent years, people have the liberty to do this on their own which gives them more control, understanding, and less wastage of time. Most of the popular exchanges provide all traders with an online terminal that connects directly to the exchange being traded on. These systems are fully automated in terms of price updates, calculations, charts, and accounts. It is user-friendly and individuals can punch in their order at the click of a few buttons. This offers overall monitoring and surveillance as well as transparency on the market.
When a member puts in an order, the terminal system automatically matches an equal and opposite order and executes it. This is with respect to the type of commodity, time of order, the quantity (in units) and price (Indian Rupees). The units to be traded on each commodity are pre-determined by the exchange. For example, 1 unit of gold is 1kg and 1 unit of silver is 30kg (on the MCX). Every unit is called a “lot”.
If a match for an order is not found, the order stays in queue until such a match is found or it automatically lapses at the close of a trading session.
