The black swan in futures refers to an unpredictable major event. It is a rare event, but once it appears, it will have a great impact. \ r \ n \ r \ Before the Australian black swan was discovered, Europeans always thought that this kind of swan was white, so in European speech and writing, "black swan" was used to refer to things that could not exist, but this belief collapsed with the appearance of black swan. \ r \ n \ r \ This is a story described by nassim nicholas taleb in his book Black Swan. He said that the black swan means an unpredictable major rare event, which is unexpected, but it has changed everything, and its characteristics are rarity, influence and predictability afterwards (not beforehand). Taleb believes that most traders in the financial sector are "picking up coins in front of a roller", exposing themselves to rare and influential events, but sleeping like babies without being aware. \ r \ n \ r \ Domestic stock index futures will be launched soon, and the security of the trading system of China Financial Futures Exchange (hereinafter referred to as CICC) has become the focus of public attention, which is also the place where it is possible to fly out of the Black Swan. The simulation test has been carried out in CICC, and the stock index futures simulation trading system was also opened on June 30, 2006. Today, it has been running for more than three years. \ r \ n \ r \ nIt should be said that China's stock index futures trading system fully draws on the experience and lessons of foreign stock exchanges. For example, in the technical guidelines issued by CICC, before applying for membership, members must participate in the tests arranged by the exchange, including link connectivity test, link switching test, interface adaptability test and system stress test, and the processing capacity of the trading system must meet the corresponding requirements. On the basis of perfecting the installation and debugging of its own system, CICC also sent people to various futures companies to check the preparation of trading systems.