Because stock index futures are margin trading and daily debt-free settlement is implemented. Therefore, when the market fluctuates greatly in the short term, sometimes even if you choose the right direction, you will be forced to close your position because of poor fund management and no extra funds to replenish the margin, thus being forced to lose money. Investors who are used to stock operation may be more prone to this situation. After all, there is no margin trading in the stock market, so there is no risk of additional margin. As long as you look at the direction, you can hold it for a long time without worrying about short-term fluctuations in the market. Combined with the progress of the basic system construction of China's capital market, the simulated trading operation of stock index futures and the development of overseas financial futures markets, CICC has comprehensively combed, repeatedly demonstrated and carefully revised the trading rules and their implementation rules.

The new system has been improved in the aspects of "raising the minimum trading margin standard", "modifying the relevant provisions on margin adjustment" and "canceling the fuse system", which makes the risk control of stock index futures more targeted. At the same time, CICC also revised the implementation conditions of compulsory burden reduction, which is conducive to preventing the occurrence of risk accidents. In terms of margin system, in order to strengthen risk control, the minimum trading margin of stock index futures is raised from 10% to12%; In order to ensure the pertinence of the margin adjustment level of the exchange under the unilateral market, CICC also revised the restrictive provisions on the margin adjustment of the exchange under the unilateral market. For example, in the process of futures trading, if there is no continuous quotation on one side of the daily limit board (unilateral market), national legal holidays, the exchange thinks that the market risk changes obviously, and the exchange thinks it is necessary, the exchange can adjust the trading margin standard according to the market risk and report it to the China Securities Regulatory Commission.