1. is basically no different from buying and selling stocks, but it is just an innovation in mechanism. Financing means borrowing money to buy, and securities lending means borrowing money to sell. Buy low, sell high, sell high and buy low, all earn the difference.

2. Stock index futures trading is a standardized contract, which can be unlimited, as long as there is enough money, which is different from stocks. The size of each stock plate is certain for a period of time (except dividend allotment). The delivery date is the third Friday of the expiration month of each contract, which will be postponed in case of legal holidays. For example, the expiration date of the contract if 1005 in May is May 2 1, and the buyer and the seller close their positions at the settlement price (delivery refers to clearing the positions of the contract in the current month). The settlement price is the arithmetic average price of the Shanghai and Shenzhen 300 Index in the last two hours of the maturity date.

According to the experience of foreign mature markets, stock index futures will guide the spot (CSI 300), but domestic stock index futures have no pricing power at the initial stage of launch, and now it is CSI 300 that influences and guides stock index futures.

There is a certain correlation between stock index futures and the rise and fall of the broader market, but the direct correlation is the Shanghai and Shenzhen 300 Index, and the two trends should be synchronized, otherwise arbitrage funds will enter until the arbitrage space disappears.

The opening date is that positions can be opened at any time as long as there is a listing contract.