Investors need to open another account to buy stock index futures. The conditions for opening an account are as follows:
The available funds in the margin financing and securities lending account shall be no less than RMB 500,000.
Personal account opening process with at least 10 trading days, more than 20 stock index simulation trading records or 10 commodity futures trading records in three years.
Stock index futures knowledge, knowledge evaluation shall not be less than 80 points.
You don't necessarily need to open an A-share account to buy a Shanghai Stock Exchange index fund. For example, to buy Huaxia SSE 50ETF, you need to open an A-share account. If you buy ordinary SSE 50 Index Fund and E Fund SSE 50, you don't need to open an A-share account. It is purchased in the same way as other open-end funds.
The trading principle of stock index futures is similar to that of stock trading, and centralized computer bidding is conducted according to the principle of price priority and time priority. The difference is that stock index futures have long positions and short positions, and investors can use stock index futures to make short positions.
Extended data:
Shanghai Composite Index is referred to as "Shanghai Composite Index" or "Shanghai Composite Index". Its sample shares are all listed on the Shanghai Stock Exchange, including A shares and B shares, reflecting the changes in the prices of listed stocks on the Shanghai Stock Exchange. It was officially released on July 199 15.
2017165438+123 October, A shares opened lower and went lower, and the whole line was deeply adjusted. The Shanghai Composite Index fell below 3,400 points, the biggest one-day drop in the year. The three major stock indexes in Shenzhen, which took the lead in the previous trading day, fell more than 3% simultaneously.
To calculate the stock index, we should consider three factors:
First, sampling, that is, extracting a few representative constituent stocks from many stocks;
The second is weighted, weighted average by unit price or total value, or unweighted average;
The third is a calculation program, which calculates arithmetic average, geometric average, or considers price and total value.
Because there are many kinds of listed stocks, it is an arduous and complicated task to calculate the average price or index of all listed stocks, so people often choose a few representative sample stocks from listed stocks and calculate the average price or index of these sample stocks. Used to indicate the general trend and fluctuation range of stock prices in the whole market. When calculating the average or index of stock prices, the following four points are usually considered:
Sample stocks must be typical and ordinary. Therefore, when selecting samples, factors such as industry distribution, market influence, stock grade and appropriate quantity should be considered comprehensively.
The calculation method should have strong adaptability, and can make corresponding adjustments or corrections to the ever-changing stock market, so that the stock index or average value has better sensitivity.
There should be scientific calculation basis and means. The calculation basis must be unified, generally based on the closing price, but with the increase of calculation frequency, some are calculated at the hourly price or even shorter time.
The base period should be balanced and representative.
The price fluctuation of individual stocks is difficult to grasp because of the manipulation of institutions, large households and foreign hot money.
Index is a statistical index, which is the value obtained by adding the weights of each stock, which is beyond the control of some large households or institutions. Among them, the Shanghai Composite Index is calculated on the basis of19901Feb. 99 100, and has now exceeded 2600 points.
Assume that the Shanghai Composite Index (Y) has the following linear relationship with their respective variables:
Yi=b0+b 1X 1i+b2X2i+？ +bkXki+εi，i= 1，2，？ ，n
There are many indexes of A-shares, including Shanghai Stock Exchange, Shenzhen Stock Exchange and Shanghai and Shenzhen 300. They have a strong correlation. Considering the influence, the Shanghai Composite Index is selected as the research object.
Selection of sample time period: select the quarterly data from 2005 to 2009 (the first three quarters of 2009); The synchronous variable is the data of the same period, and the leading variable takes the data of the previous period.