The month of stock index futures contract refers to the month when the stock index futures contract expires and settles. The months of stock index futures contracts in different countries and regions are different. In S& amp countries, the contract months of stock index futures are March, June, September and 65438+February. For example, in February 2006, the contract months of S & ampP500 index futures are March, June, September, 65438+February and March 2006, June and September, 65438+February 2007 respectively. Hong Kong Hang Seng Index futures contract months are the current month, the next month and the last two quarterly months (quarterly months refer to March, June, September and 65438+February). For example, in February 2006, the contract months of Hong Kong Hang Seng Index futures were February, March, June and September 2006. Table 3-5 shows the contract months of the world's major stock index futures.

The trading time of stock index futures refers to the time when stock index futures can be traded as stipulated by the futures exchange. Some exchanges stipulate that trading hours are five days a week, and they are closed on Saturdays, Sundays and national holidays. Generally, each trading day is divided into two sets, namely morning set and afternoon set. Some exchanges have achieved all-weather trading.