Investors need to sign risk statements and futures brokerage contracts with qualified futures companies and open futures accounts.
After completing all formalities, the customer pays the deposit for opening an account as required. After the customer's funds arrive, futures trading can be carried out. But when the customer's margin is insufficient, it is necessary to add the margin in time, otherwise it will be forced to close the position. (Note: High leverage ratio is an important feature of stock index futures-in the UK, for example, a futures trading account with an initial margin of only 2,500 pounds can trade 100 index futures of the Financial Times, with a maximum leverage ratio of 70,000 pounds1. Because the amount of margin payment is determined according to the market value of the index futures traded, the exchange will decide whether to add margin or withdraw excess according to the price change of the market. )
trade
In principle, the trading of stock index futures is the same as that of securities, and centralized computer bidding is conducted according to the principle of price priority and time priority. Trading orders, like securities, have three kinds of orders: market order, limit orders order and cancellation order. Unlike securities, stock index futures are futures contracts, and the direction of buying and selling is very important, which is also a common mistake made by many stock investors when they do futures trading for the first time. Futures have two positions: long position and short position, which can be opened and closed in trading. Closing positions can also be divided into closing positions and over positions.
In the transaction, we should also pay attention to the terms of the contract. Generally speaking, there are four kinds of stock index futures contracts within half a year, namely, the spot month contract, the next month contract and the last two quarters contract. With the monthly delivery, the contract will be rolled forward once. For example, in September, there are four contracts: September,1October,1February and March of the following year, and the1October contract needs to be delivered at the end of1October.
purchase in advance at fixed
Ordering refers to the behavior that investors send trading orders to futures companies before each transaction, explaining the type, direction, quantity and price of the contracts to be bought and sold.
To close/close/close an account
Settlement refers to the business activities of calculating and distributing the trading margin, profit and loss, handling fees and other related funds of members and investors according to the trading results and relevant provisions of CICC.
Close position or delivery
Closing a position refers to the behavior of investors to end a transaction by buying or selling contracts of the same variety and quantity but in the opposite direction. Delivery refers to the behavior of investors in the form of cash settlement when the contract expires. The delivery of stock index futures is also different from stocks. Generally, stock investors are used to spot trading, and it is easy to ignore that stock index futures contracts need to be settled in cash at the contract delivery price of the day, so they need to hold non-spot monthly contracts to hold positions.
Stock index futures contract
Stock index futures contract is a standardized agreement made by futures exchange, and it is the object of stock index futures trading. Generally speaking, stock index futures contracts mainly include the following elements:
(1) contract object. That is, the basic assets of the stock index futures contract, such as the Shanghai and Shenzhen 300 stock index futures contract is the Shanghai and Shenzhen 300 stock price index.
(2) Contract value. The contract value is equal to the product of the index point of the market price of the stock index futures contract and the contract multiplier.
(3) The quotation unit and the lowest price change. The quotation unit of stock index futures contract is the index point, and the minimum change price is the minimum change range of the index point.
(4) Contract month. Refers to the month when the stock index futures contract is due for delivery. (5) trading time. Refers to the time when stock index futures contracts are traded on the exchange. Investors should note that there may be special regulations on the trading hours of the last trading day.
(6) price restrictions. It means that the fluctuation range of the trading price of a futures contract in a trading day or a certain period of time shall not be higher or lower than the prescribed fluctuation range.
(7) Margin for contract transactions. Contract trading margin accounts for a certain proportion of the total contract value.
(8) mode of delivery. Stock index futures are delivered in cash.
(9) The last trading day and delivery date. Stock index futures contracts shall be settled in cash on the delivery date, and the specific arrangements for the last trading day and delivery date shall be implemented in accordance with the provisions of the exchange.
for instance
For example, at the beginning of May, the price of Shanghai and Shenzhen 300 was 37 10, but now the contract price of Shanghai and Shenzhen 300 stock index futures in 65438+February has risen to about 5900, which means that if you short (sell before the contract) the stock index futures in 65438+February, wait until the Shanghai and Shenzhen 300 index closes on the third Friday of 65438+February, and 65438+. Assuming that the closing price of the day (the third Friday of 65438+February) is 5500, then the first-hand profit of the contract you sold in early May is: 1 lot *400 points *300 yuan/point = 120000.
How does stock index futures make a profit?
A stock index is a contract that tracks the number of large-cap stocks. For example, now 10 is 2011,and the number of large-scale stocks is 2 150, up by 0.37%. The contract point of the stock index is 13 1 1, because the subject matter of the stock index is 2390.
How does stock index futures make a profit? How to earn 10000 yuan a day? Today, the stock index peaked at 2398 points, and the lowest at 2366 points, with a fluctuation of 32 points. If you can buy the 1 stock index from a low point and sell it from a high point, you can make a profit of 32 points, X300 yuan/point =9600 yuan, while the funds needed to buy the first-hand stock index are only 80,000 yuan. Today's profit is more than 10%, which well grasps the fluctuation of the day in reality. If we catch up with the day's market surge, for example, the market rose more than 1.5%, instead of today's 0.37%, the stock index will make more profits.