We need to clarify several concepts. Stock index futures is a kind of futures contract with stock index as the subject matter, and investors can get the investment income of stock index rise and fall by buying or selling contracts. When trading, investors need to pay a certain fee to the futures company as the cost of trading services.
The handling fee of stock index futures mainly consists of two parts: the handling fee charged by the exchange and the handling fee charged by the futures company.
The first is the fees charged by the exchange. Stock index futures trading is conducted in the exchange, and the exchange will charge a certain percentage of handling fees according to the transaction amount. The handling fee rate varies according to the policies of the exchange, but it is usually between a few thousandths and a few percent of the turnover. For example, the handling fee rate of an exchange is 0.0 1%, so when investors trade stock index futures contracts with a turnover of 10000 yuan, the handling fee charged by the exchange will be 1 yuan.
Followed by the fees charged by futures companies. As an intermediary, futures companies provide trading services and will charge a certain fee according to the requirements of the exchange. The handling fee of a futures company is usually charged in the form of a fixed fee, such as the handling fee of 5 yuan for each contract. The primary contract represents a subject matter, and its value is determined by the value of each point specified by the exchange. Take the Shanghai and Shenzhen 300 Index as an example, and the value of each point is 300 yuan. If investors buy 10 lots of Shanghai and Shenzhen 300 stock index futures contracts, the futures company will charge 50 yuan commission.
Considering the handling fees of exchanges and futures companies, investors need to add up the handling fees of the two to calculate the overall transaction cost when trading stock index futures. Taking the above example as an example, investors buy 10 lots of Shanghai and Shenzhen 300 stock index futures contracts, the handling fee charged by the exchange is 1 yuan, and the handling fee charged by the futures company is 50 yuan, so the overall transaction cost of investors is 5 1 yuan.
Investors should also pay attention to other possible expenses when trading stock index futures, such as transaction stamp duty and settlement fee. The calculation methods and regulations of these fees vary from exchange to exchange and related policies. Investors should carefully read the relevant trading rules and instructions before trading, and fully understand and master all possible transaction costs.
In addition to handling fees, investors should also consider their own trading strategies and objectives, as well as the volatility of the market. Different trading strategies may produce different trading frequency and volume, thus affecting the handling fee. Market fluctuation will also affect transaction costs, because when the market fluctuates greatly, transaction costs may increase.
It is very important for investors to know how the handling fee of stock index futures is calculated. By understanding the handling fees of exchanges and futures companies, investors can better evaluate and control transaction costs, thus improving transaction efficiency. Before trading stock index futures, investors should fully evaluate and plan their trading strategies and objectives, and make corresponding trading plans in combination with market fluctuations. Only when investors fully understand and master the relevant knowledge can they get a better return on investment in stock index futures trading.