Stock index futures refer to standardized futures contracts with stock price index as the subject matter. Both parties agree to buy and sell the underlying index on a specific date in the future according to the size of the stock price index determined in advance.

Stock index futures have the characteristics of agreed time, agreed price and agreed quantity. The agreed time is the final performance date of the contract, which is generally the third Friday of the contract month. In case of national legal holidays, it is also called the delivery date of stock index futures.

For example, the delivery date of 20 19 10 contract (IF09 10) is the third Friday of 10, that is,10/8,10/kloc.

Stock index futures can achieve two-way trading, T+0 trading mode, with leverage, and investors can avoid investment risks to some extent by buying stock index futures and using the basis arbitrage of stock index futures and spot index.