The Subject Matter Index For China's Stock Index Futures Preparation And Contract Design

Stock index futures is one of the financial futures which came out the most lately but developed the fastest.From the very beginning,it had showed great vitality and led financial market to a new peak.According to previous experiences,whether stock index futures succeed or not depends on the stipulation of index and the design of contracts to a large extent.In the process of the stipulation of the trade object of stock index futures,the article aims at the reference evaluating standards and selection basis of stock index by qualitative study, we choose HS300 index as the trade object of stock index futures,and make a quantitative study on it.In the process of the design of the contracts,the article fully utilizes foreign advanced experiences for reference,designes each item of the contract in a scientific way, and make a quantitative on the parts that are the most important(margin rule and price limit rule),and try to design the margin rule by the VaR which bases on the model of GARCH-M.In the method of the study, the article conducts quantitative study and mathematical analyses to some details with quantity economic method,blends foreign advanced theories with practices rather organically.All of the author's efforts aim to design and explain most of details in the contract.