China's stock index futures market structure includes three parts: regulatory agencies, service agencies and trading institutions. Regulators include China Securities Regulatory Commission and China Margin Monitoring Center; The service organization is CICC, which provides trading and settlement services; Trading institutions include various futures companies. The core of China's stock index futures market structure is China Financial Futures Exchange (CICC), where stock index futures are listed and traded. It is the regulator of stock index futures: China Securities Regulatory Commission. CICC itself does not participate in the trading of stock index futures, but provides trading and settlement services for various market participants, and guarantees the performance of stock index futures as a central counterparty. Many member companies of CICC are futures companies, and investors can participate in stock index futures trading through futures companies. Futures companies are also supervised by China Securities Regulatory Commission. At the same time, the futures company also established an industry organization-China Futures Association. China Securities Regulatory Commission delegated some regulatory functions such as qualification examination of employees to China Futures Association. In order to ensure the safety of investors' funds, the state has also established the China Futures Margin Security Monitoring Center. In addition, there are settlement banks, information service providers, securities registration and settlement institutions and other related service institutions.