China's Development Of The Stock Index Futures Research

Backgroud and PurposeIn 1982, Stock Index Future was firstly created by KCBT(Kansas city Board of Trade), which was named as Value Line Index Future. Since then, Stock Index Future has always been developing rapidly, and the Stock Index Future has became the important part of financial market. The development of Stock Index Future has always been promoting the perfection and deepening of the financial market. After the system of our socialism market economy is certain, various propulsions with whole reform of the economics complement each other. And the stock and future markets have developed soon.Along with the risk of stock market system enlarging , the risk of the stock market system has became the extensive concern. Releasing the stock index future can evade the risk of the stock market system, protect the the investors'value, protect the benefits of the institutional investors,stable stock market, and so on.From a certain meaning, releasing the stock index future is very important for the stock and future market developments.In this article, according to the general rule and fundamental theory of Stock Index Future, from the microcosmic angles I discuss and research the several important issues on development of Stock Index Future in our country. I expect this article is helpful to the decision-making, designation of our Stock Index Market and knowledge of investor to this kind of financial derivative instrument.