Stock index futures, abbreviated as SPIF in English, are full-name stock price index futures, which can also be called stock price index futures and futures index. It refers to the standardized futures contract with the stock price index as the subject matter. Both parties agree that at a future date, they can buy and sell the underlying index according to the size of the stock price index determined in advance, and settle the difference in cash after the expiration.
Extended data
1, different transaction objects. The object of spot trading is physical objects; The object of futures trading is the standardized contract formulated by the exchange. The quantity and quality of goods, margin ratio, delivery place, delivery method and trading method in futures contracts are all standardized, and only the price in futures contracts is a free price formed through market bidding.
2. The purpose of the transaction is different. In spot trading, the buyer is to obtain goods; The seller is to sell the goods and realize their value. The purpose of futures trading is to transfer price risk or profit from speculation.
3. The transaction procedures are different. In spot trading, the seller can only sell the goods, and the buyer can only buy them by paying cash. This is the trading procedure of spot trading. Futures trading can reverse the procedure of spot trading, that is, you can sell without goods and buy without goods.
4. Different trading methods. Spot trading is the trading activity of actual goods. The transaction process is synchronized with the transfer of commodity ownership. However, futures trading is based on various commodity futures contracts. No matter how many times it is bought and sold, only the last holder has the obligation to perform physical delivery.
Baidu encyclopedia-buying and selling stock index futures