1, stock index futures is a hedging tool for stocks, which can slow down the plunge of the stock market 1. The hedging mechanism of stock index futures can reduce the selling pressure and market impact of the stock market.

2. Stock index futures can reduce the volatility of the stock market through arbitrage mechanism.

3. Stock index futures have the function of price discovery, which can form forward prices and reverse market expectations.

4. Stock index futures market can reduce market panic by providing liquidity for the market.