Research on the model of non-arbitrage fixing price of the agreement on stock index futures

The future of stock index has been the focal point in academia studies.At present,in abroad stock index they fix the price of the futures of stock index by the model on the foundation of model with futures holding the cost.This article uses another method to study the same problem.From arbitrage analys principle it derives stock index futures and the pricing models of contract,at the same time the text analyzes the accuracies of model and practibility on real example s,and points out this model’s several insufficient points in practical application.