Index futures refer to financial futures contracts with the stock price index as the subject matter. The essence of index futures trading is a process in which investors transfer their expected risk of the whole stock market price index to the futures market, and the risk is offset by the trading operations of investors who have different judgments on the stock market trend.

Index futures generally include intertemporal, leverage, linkage, high risk and diversified risk.

Intertemporal refers to the agreement to trade at a certain time in the future under certain conditions by predicting the trend of stock index changes.

Leverage means that you don't need to pay the contract value in full, but only need to pay a certain percentage of retention money.

Linkage means that the price of stock index futures is closely related to the change of its underlying asset-stock index, and they interact with each other.

High risk and diversity of risks refer to higher risks than the stock market, as well as market risks, operational risks and cash flow risks.