The position limit of Shanghai and Shenzhen 300 stock index futures refers to the maximum number of unilateral positions of members or customers on a contract stipulated by China Financial Futures Exchange. When the same customer opens positions in different members, the total number of unilateral positions in a contract shall not exceed the position limit of the customer. The position limits of members and customers in stock index futures contracts are as follows: the unilateral position limit of speculative trading customer number is 1200 lots; If the total unilateral position of a contract exceeds 6,543,800 lots after settlement, the unilateral position of the settlement member in the next trading day shall not exceed 25% of the total unilateral position of the contract; The customer number positions of hedging and arbitrage transactions shall be implemented in accordance with the relevant regulations of the Exchange, and shall not be limited by the position limit. Members and customers whose positions reach or exceed the position limit shall not open positions in the same direction.