A Study on the Influence of Stock Index Futures on Chinese Stock Prices:An Empirical Analysis of the Shanghai and Shenzhen 300 Index Futures data

This paper mainly studies the volatility on the stock price after the introduction of stock index futures.According to the empirical research,it can be found the stock index futures exacerbate the volatility of the spot market in the short term,which may be the result of a large number of irrational speculation at the beginning of trade;but with one year after the introduction of stock index,no significant changes in the volatility of the spot market,which shows that the stock index futures have no negative impact on the stock market volatility in the long run.