20 15 due to the drastic market fluctuation and insufficient liquidity, under the pressure of all parties, CICC has continuously introduced control measures to substantially increase the trading margin and handling fee, and at the same time limited the intraday trading volume to 10 lot. After that, the liquidity of stock index futures plummeted and the market was almost "frozen". As a result, stock index futures have lost their normal functions such as price discovery, risk hedging and asset allocation.
Stock index futures, full name of 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. Both parties agree that on a specific date in the future, they can buy and sell the underlying index according to the size of the stock price index determined in advance, and then settle the difference 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 is a kind of futures.