(1) Stock index futures adopt margin trading system.
Margin trading system has a certain leverage. Investors do not need to pay the full amount of the contract value, but only need to pay a certain percentage of the deposit to trade. The leverage effect of the margin system not only magnifies the income, but also magnifies the risk. In case of extreme market, the loss of investors may even exceed the principal invested. ?
(2) Stock index futures adopt the debt-free settlement system on the same day.
Under the debt-free settlement system of the day, after the close of each trading day, the futures company shall settle the investors' transactions and positions according to the settlement price of the day, calculate the profits and losses and related expenses, and actually transfer them. Investors with insufficient margin after settlement on the same day must take relevant measures in time to meet the margin requirements and avoid being forced to close their positions. ?
(3) The stock index futures contract has an expiration date.
Every stock index futures contract has an expiration date and cannot be held indefinitely. Investors either close their positions before the contract expires or make cash delivery when the contract expires. ?
(4) The trading object of stock index futures is standardized futures contracts.
The object of stock index futures trading is not the stock price index, but the standardized stock index futures contract.
In the standardized stock index futures contract, besides the contract price, other factors including the underlying assets, contract month, trading time and so on are determined by the exchange in advance. It should be reminded that the contract price is the forward price on the expiration date of the contract, not the spot price at the time of trading.