The exchange sets the limit of the Shanghai and Shenzhen 300 stock index futures, and can adjust it according to market risks. By formulating the price limit system, the impact of some unexpected events on futures prices can be effectively slowed down and restrained, and the maximum profit and loss of contracts held by members and customers can be locked in every trading day.

The specific provisions of the Shanghai and Shenzhen 300 stock index futures price limit are as follows:

Is the price limit of stock index futures contract the settlement price of the previous trading day? 0%.

Is the price limit for quarterly and monthly contracts on the first day of listing the benchmark price? 0%。 The benchmark price is determined by the exchange and announced in advance. If there are transactions on the first day of listing, the next trading day will return to the range of price limit stipulated in the contract; If there is no transaction on the first day of listing, the price limit of the previous trading day will continue to be implemented on the next trading day.

Is the price limit of the last trading day of the stock index futures contract the settlement price of the previous trading day? 0%.

If the futures contract is declared by a unilateral market in the same direction for two consecutive trading days, and there is no selling declaration at the stop-loss price, or the futures contract is closed as soon as there is a selling declaration, but the stop-loss price is not opened), and the trading day of the second unilateral market is the last trading day, then the contract is directly settled; The trading day of the secondary unilateral market is not the last trading day, and the trading ownership shall take one or more of the following risk control measures according to the market conditions: raising the trading margin standard, restricting the opening of positions, restricting the withdrawal of funds, closing positions within a time limit, forcibly closing positions, suspending trading, adjusting the range of price limit, forcibly reducing positions or other risk control measures.

There are two points that investors should pay special attention to: first, unlike stock trading, the calculation basis of the price limit of stock index futures contracts is the settlement price of the previous trading day, not the closing price. This is because the maximum profit and loss of the contract held by members and customers on each trading day can be controlled by setting the price limit, and the basis for calculating the profit and loss is the settlement price. Second, the price limit is not fixed, and the exchange can adjust the price limit according to market risks.