SPIF, the full name of which is stock price index futures, can also be called stock price index futures and futures index. It refers to the standardized futures contract with the stock price index as the subject matter. The two parties agreed to buy and sell the underlying index on a specific date in the future according to the size of the stock price index determined in advance. The two sides trade the price level of the stock index after a certain period of time, and settle the difference by cash delivery. 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.