1. China Financial Futures Exchange (CFFEX) was established in Shanghai on September 8, 2006 with the approval of the State Council and the approval of China Securities Regulatory Commission, initiated by Shanghai Futures Exchange, Zhengzhou Commodity Exchange, Dalian Commodity Exchange, Shanghai Stock Exchange and Shenzhen Stock Exchange. The five shareholders contributed RMB 6,543.80 billion respectively. According to the previous appointment of China Securities Regulatory Commission, Zhu was the first general manager of China Financial Futures Exchange. Listed varieties of Shanghai and Shenzhen 300 index futures debut. The establishment of China Financial Futures Exchange is of great strategic significance for deepening the reform of capital market, perfecting the capital market system and giving full play to its functions.
2. Stock index futures (SPIF) refers to stock index futures, which can also be called stock index futures and futures index. It refers to the standardized futures contract with the stock price index as the subject matter. The two sides agreed that on a specific date in the future, the underlying index can be bought and sold according to the size of the stock price index determined in advance, and the difference will be settled in cash after the expiration. As a type of futures trading, stock index futures trading has basically the same characteristics and processes as ordinary commodity futures trading. Stock index futures are a kind of futures, which can be roughly divided into two categories, commodity futures and financial futures.