Share Price Index Futures (SPIF for short) refers to stock price index futures, which can also be called stock price index futures and futures index. It refers to a standardized futures contract with the stock price index as the subject matter. Both parties agree to buy and sell the subject index on a specific date in the future according to the size of the stock price index determined in advance, and settle the difference in cash after the expiration. As a type of futures trading, stock index futures trading and ordinary commodity futures trading have basically the same characteristics and processes. Stock index futures are a kind of futures, which can be roughly divided into two categories, commodity futures and financial futures.