However, the opening point of China's stock index futures is set at 3399.
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Why is the benchmark price of stock index futures set at 3399?
Capital Futures Financial Derivatives Research Group
China Financial Futures Exchange announced on June 5438+05 that four Shanghai and Shenzhen 300 stock index futures contracts (IF 1005, IF 1006, IF 1009, if10/kloc) were listed on June 6. 15, the price of Shanghai and Shenzhen 300 Index closed at 3,394.6 points, and the listing price of stock index futures was basically the same as the spot price, only less than 5 points higher. Judging from the price setting of the listing price, it reflects the idea of steady operation of the regulatory authorities, and at the same time, this gives investors little room for operation.
Judging from the listing price, this has not brought too many investment opportunities to the market. Therefore, the opening of stock index futures contracts today deserves special attention.
Since stock index futures are ahead of the opening of the stock market, today's opening price will provide important guidance for the spot market. If today's futures prices are significantly higher than the forward risk-free arbitrage range (1.6%-2.2%) estimated by us in the previous period, it will attract a large number of arbitrage traders, and the establishment of this arbitrage position will play a certain role in pulling up the market heavyweights. At the same time, the scale of index products such as LOF funds and ETF funds will also be enlarged. However, if it opens lower, the impact on the market will be more reflected in the impact on the investment atmosphere, and the actual suppression effect will not be obvious.