Stock index futures, abbreviated as SPIF in English, are full-name stock price index futures, which can also be called stock price index futures and futures index. It refers to the standardized futures contract with the stock price index as the subject matter. Both parties agree that at a future date, they can buy and sell the underlying index according to the size of the stock price index determined in advance, and settle the difference in cash after the expiration. As a type of futures trading, stock index futures trading has basically the same characteristics and processes as ordinary commodity futures trading. Stock index futures are a kind of futures, which can be roughly divided into two categories, commodity futures and financial futures.
Commodity futures refer to futures contracts with physical goods as the subject matter. Commodity futures have a long history and a wide variety, mainly including agricultural and sideline products, metal products and energy products. It is a standardized agreement about the buyers and sellers buying and selling a certain number of physical goods on an agreed date in the future at the price agreed at the time of signing the contract. Commodity futures trading is a standardized contract trading method for buying and selling specific commodities on futures exchanges.