The full name of stock index futures (SPIF) is stock index futures, which can also be called stock index futures and futures index. It refers to the standardized futures contract with the stock price index as the subject matter. The two parties agree to buy and sell the underlying index according to the size of the stock price index determined in advance at a future date, and settle the difference in cash after the expiration. As a type of futures trading, stock index futures trading has basically the same characteristics and processes as ordinary commodity futures trading. Stock index futures are a kind of futures, which can be roughly divided into two categories, commodity futures and financial futures. Stock index futures:

Futures is a trading contract that is bought and sold before the agreed price. Futures trading is divided into speculation and delivery. Speculation earns the difference by buying low and selling high or buying high and selling low. Delivery is a transaction that is executed in the future by locking the transaction price in advance. Taking gold futures as an example, the price of gold is 12 1 1 USD/oz. Party A and Party B signed a gold futures contract with the delivery date of 20 16070 1. Party A is the buyer and Party B is the seller. If the 20 16070 1 contract expires, the gold price will reach 1300 USD/oz, and Party B still needs to pay 1238.

Futures are divided into commodity futures and financial futures. The subject matter of commodity futures is physical objects, such as crude oil, gold, silver, copper, aluminum, sugar, wheat and rice. The subject matter of financial futures is immaterial, such as stock price index, interest rate and exchange rate. And stock index futures are futures contracts with the stock price index as the subject matter. The popular understanding is the price quiz game with the stock price index as the object. You can buy up (term: long) or buy down (term: short). A bull is called a bull and a bear is called a bear. Both the bull and the bear pay a margin of 10%-40% to buy and sell stock index futures contracts (the specific margin amount is stipulated by China Financial Futures Exchange), and then calculate the profit and loss according to the price of 300 yuan at each index point. Every time the index rises by one point, the bulls gain 300 yuan. ?