股指期货是以股票市场的股票价格指数作为交易对象,即是以股价指数为“商品”的期货。它是买卖双方根据事先约定,同意在未来某一特定时间以约定价格进行股价指数交易的一种协议。股指期货的交割采用现金形式,而不用股票。股指期货合约的价格为当前市场股价指数乘以每一点所代表的金额。自1982年美国堪萨斯市农产品交易所推出了世界上第一份股指期货合约——价值线指数期货合约 Stock index futures is based on the stock market stock price index as a trading object, that is, the stock price index for “commodity ” futures. It is an agreement between buyers and sellers to agree on a prior agreement that they should agree to deal in the stock index at an agreed price at some future time. Stock index futures delivery using cash, rather than stocks. The price of a stock index futures contract is the current market price index multiplied by the amount represented by each point. Since 1982, the Kansas City Agricultural Exchange launched the world’s first stock index futures contract - value line index futures contract