Index Futures Policy Changes After 2015 Stock Crash On The Influence Of The Relationship Between Index Futures And Spot Index

From the middle of June to the end of August,2015,China's stock market index HS300 continued to fall over two and a half months.And corresponding main stock index futures IF contract is also fall.CFFE then boost index futures margin ratio,increase the days liquidated charges,and restrict positions three main steps.After stock index futures policy changes in the mixed,and the main deny idea is to draw lessons from the history of the Nikkei 225 stock index futures and stock index futures in Singapore.and considering the influence of the Singapore A50,stock index spot in China.According to reviews the literature at home and abroad,Mostly involves the arch model and research yields set off from volatility,The same conclusion is not negative or positive international policy,and based on the eight months before and after the policy of the IF closing price of main stock index futures contracts.As well as HS300 index closing price,Using econometric classical theory of least squares to preliminary studies,get the conclusion: The correlation of China stock index futures and spot index did not change significantly,then joined the application of regression analysis is applicable to policy changes in the virtual variable set for deeper research,Certainly the above conclusion.That the changes of our country stock index future policy will not lead to the losing of our own stock index pricing power,naturally Singapore A50's influence on the HS300 is still very small.