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 are a kind of futures, which can be roughly divided into two categories, commodity futures and financial futures.

Generally speaking, stock index futures include two characteristics: one is stock characteristics, and the other is futures characteristics.