| The article examines the effects on both underlying stock market and related stock index futures market caused by the Stock Index Futures. In the background of the success of the reform ,research the impact to the introduction of stock index futures, which impact is mainly to the stock market .Based on the history and development of stock index futures, the author first introduced the stock index futures market and the theoretical analysis functions The article also defines the related concept; Next on the historical causes of the equity division and the equity division reform process and the substance of a brief introduction ;The third part of the reform on foreign% of the equity index futures and synchronization of a contrast Analysis of our relations with these countries and differences in the same circumstances, to obtain a reference;Focused on the fourth part of the introduction of stock index futures market effect ,Since China has not launch stock index futures, it is not empirical analysis of the data collected. However, in this article, mainly in the context of China's market characteristics, and the expected effect of the actual effect of two hours to analyze their impact; Finally, a stock index futures-related risks, as well as combining the features of our capital market. Mark put in a gradual process, the introduction of stock index futures should take measures to prevent risks. |