Comprehensive Research Of Chinese Stock Index Futures

As a kind of financial futures, stock index futures have developed rapidly around the world since it appeared in 1982 in USA. Chinese stock market often fluctuates violently since it established ten years ago, and systemic risk is conspicuous very much. So that Chinese stock market needs urgently one financial instrument to evade effectively systemic risk of spot market. This text uses the method of thoery and practice to analyse the positive role and negative consequence on the stock index futures to spot market, through carrying on the general theoretical research about the relation of stock index futures market and stock spot market. It analyses the necessity and feasibility of putting out stock index futures in our country, combining of Chinese actual economic conditions. In the same time, it gives the proposes of risk control in Chinese stock index futures and the proposes of the design on our stock index futures contract by referring the experience of overseas market. Finally it draws the conclusion : Chinese securities market needs stock index futures. But it must be put out in good time .