China Stock Index Future Market Volatility Of The Stock Market Analysis

China stock index futures has been introduced by the majority of investors'extensive attention on April 16, 2010 . Stock index futures in the stock spot market can avoid systemic risk, while the market price of stock index futures will be highly leveraged through its own transmission to the stock spot market,and impacted their price. In this paper, we aplied ARCH model, GARCH model and the ARMA model in order to empirical analysis the Shanghai and Shenzhen 300 stock index futures closing price and daily return , the most realistic reflection is the introduction of China's CSI 300 stock index futures on the Shanghai and Shenzhen 300 Index after the volatility ,and the findings have some practical significance.We have six chapters. The introduction part analysed the background of the paper, the status of domestic and international research, paper and research significance of the main contents, the paper and the lack of major innovation.The first chaper , theoretical overview.The second chaper, this chapter describes the factors of stock index futures, functions, stock index futures market and the joint-action between the securities market, in addition of the pros and cons. The third chaper,the introduction of stock index futures outside influence the stock market, mainly in Europe and America Stock Index Futures on Securities Market.The forth chaper,qualitative analysis of China stock index futures market, introduced the market operation and the risk control system in China. The fifth chaper, tracked and analyzed the data and the extent of the impact of stock market volatility, the data were processed using a qualitative analysis of GARCH models, the corresponding results for the market operation in the country. The last chaper, conclusions and suggestions Empirical analysis concludes that the stock index futures increased the stock spot market's volatility.