1, stock index futures and financing are not stocks, and securities lending is to borrow third-party stocks to short, but to integrate into other people's stocks.

2. Description of stock index futures: At present, the Shanghai and Shenzhen 300 Index is the most important target index of stock index futures. It is a real-time stock price index calculated by comprehensive sorting according to the daily average trading volume and daily average total market value of 2800 stocks in Shanghai and Shenzhen stock markets. The total market value of the Shanghai and Shenzhen 300 Index accounts for about 50% of the total market value of the two cities. In addition, CSI 500 Index and SSE 50 Index are also stock index futures.

3. Margin trading, also known as "securities credit trading" or margin trading, refers to the behavior that investors provide collateral to securities companies qualified for margin trading, borrow funds to buy securities (margin trading) or borrow securities and sell them (margin trading). In short, financing means borrowing money for stock trading, while securities lending means selling stocks by borrowing them first, and then buying stock coupons.