1, stock index futures (SPIF), full name of stock index futures, also known as stock index futures and futures index, refers to standardized futures contracts with stock index as the subject matter. The two sides agreed to buy and sell the index of the underlying stock index futures on a specific date in the future according to the size of the stock index determined in advance, and then settle the difference in cash after the expiration.

2. 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.