Take the stock index of a stock market as an example. Suppose there is an index futures contract that expires at the end of February, and the futures price is 1 100 points. If most investors in the market are optimistic. If you think the price of this index will exceed 1 100 in the future, you can buy this stock index futures. If 165438 expires at the end of February, the purchase contract you still hold needs to be delivered, and the contract price points are 1 100. At this time, the settlement price point of the stock spot market index is 1 130 points, so you can get the price difference compensation of 30 points, which means you earn 30 points. On the contrary, if the settlement price of the index is 1050 points, which is 50 points lower than your purchase price, you must take out 50 points to subsidize it, which means you lose 50 points. Of course, the so-called "points" of earning or losing are meaningless, and these points must be converted into meaningful monetary units. The specific conversion amount is agreed in advance in the stock index futures contract, which is called the contract multiplier. If the contract multiplier of stock index futures is 100 yuan, that is, the value of each point is 100 yuan, then a profit of 30 points means a profit of 3000 yuan. Suppose the point of stock index futures is 1000, and the value of a contract is 100000 yuan. At present, the Hang Seng Index in Hong Kong is about 15600, and the contract multiplier is HK$ 50. In this way, the value of a Hong Kong Hang Seng Index futures contract is about HK$ 780,000.