Stock index futures are defined as a kind of financial futures contracts which is marked by stock indices. That is a standard contract to buy or sell a certain volume of stock index, according to the appointed price, at appointed time in the future. Stock index futures are known as financial derived tools. Their transactions are dependent on index, and adopt margin system, daily clearing, and cash settlement.
After the Shanghai and Shenzhen 300 index was promulgated in 2004, the simulative exchange of the stock index futures, arising in the Chinese security market. And the Chinese government is striving to enact the first stock index futures, based on Hu-Shen 300 index. So, the research on the effect of stock market after Hu-Shen 300 stock index futures promulgate is significant.
Five parts composed this thesis. The first part is introduction. It mainly introduces the subject background and frame of this article. The second part says the definition and characteristic of the Stock Index Futures, the market function of the Stock Index Futures. The third part is on the Hu-Shen 300 index and Hu-Shen 300 stock index futures design and evaluation. In the forth part, it analyzes the Hu-Shen 300 stock index futures influence on A stock market through the global current situation of the Stock Index Futures overseas. In the last part, there are a conclusion of this thesis and my suggestion.
KEYWORDS: Hu-shen 300, Stock Index Futures, Influence
