【中文版】

现货期货是指以现货为基础的期货合约。这种合约在签订时规定了买卖双方的交货时间和地点，以及交货的数量和质量等条款。在合约到期前，买卖双方可以通过平仓或交割来结束交易。

现货期货是一种金融衍生品，其价格受到现货价格的影响，但并不完全等同于现货价格。在现货期货交易中，投资者可以通过对未来现货市场的走势进行预测，买入或卖出期货合约，以达到赚取利润或规避风险的目的。

现货期货市场是一个高度规范化的市场，具有高杠杆、高流动性的特点。在现货期货交易中，投资者需要了解期货交易的基本规则和操作流程，以及相关的市场风险和投资策略。

总的来说，现货期货是一种以现货为基础的期货合约，是投资者进行风险管理、投机和套期保值的重要工具。

【英文版】

Spot futures refer to futures contracts based on spot transactions. These contracts stipulate the delivery time, place, quantity, and quality of the goods between the buyer and seller when the contract is signed. Before the expiration of the contract, the buyer and seller can terminate the transaction through closing out or delivery.

Spot futures are a type of financial derivative whose price is influenced by the spot market price, but is not completely equivalent to it. In spot futures trading, investors can predict the future spot market trend and buy or sell futures contracts to achieve profit-making or risk avoidance goals.

The spot futures market is a highly standardized market with high leverage and high liquidity. In spot futures trading, investors need to understand the basic rules and operating procedures of futures trading, as well as relevant market risks and investment strategies.

In summary, spot futures are futures contracts based on spot transactions, and are important tools for investors to carry out risk management, speculation, and hedging.