Stock index futures contract

Object of the contract
Shanghai-Shenzhen 300 Index
Contract multiplier
RMB 300 for each point

Value of the contract
Stock index futures index points multiplied by contract multiplier
Quote unit
Index point

Minimum price fluctuation
0.2 point

Contract month
Current month, the next month and the subsequent two months

Transaction time
9:15-11:30 am; and 13:00-15:15 pm

Final transaction date
9:15-11:30 am; and 13:00-15:00 pm

Maximum fluctuation limitation
Plus or minus 10% of the settlement price of the last transaction day

Transaction margin
12%of the contract value

Way of delivery
Cash delivery

Last transaction day
The third Friday of the due month, postponed during legal holidays

Date of delivery
The same as final transaction day

Exchange
China Financial Futures Exchange

Transaction code
IF

Procedures for opening individual account

I. Choose appropriate futures company

Futures company is the link connecting investors and exchange together. Except the exchange's proprietary members, all the investors intending to engage in stock index futures transaction need to rely on a futures company. For investors, they have two ways to select a futures company at present. One is to rely on their securities company, and the other is to directly seek the futures company with financial futures brokerage license.

When selecting a futures company, investors shall choose those with legal agency qualification: whether this company is licensed in whole and the licenses are valid; how about its business reputation, and whether it can guarantee the customer's capital safety; and what about its transaction speed, consulting services, and commission charging standard.

II. Open an account

1. Requirements to customers

Customers shall at least meet the following requirements: have full capacity for civil conduct; have own funds or other property appropriate for futures transaction, and can bear futures trading risks; have fixed domicile; and meet relevant regulations of the state and industry.

According to relevant methods on appropriate management of stock index futures investors determined before, investors shall meet several requirements.

First of all, investors shall have a minimum of RMB 500,000 to open an account.

Secondly, investors intending to participate in stock index futures transaction shall pass the test on stock index futures knowledge. It's understood that the China Financial Futures Exchange will prepare for the test papers, futures companies will give the test, and the acceptance line is 80 scores.

Thirdly, investors must have at least 20 simulation transaction records of stock index futures in 10 cumulative transaction days, or have at least 10 transaction records of commodity futures within the last three years.

Besides the above three obligatory requirements, investors shall also participate in an evaluation reflecting their comprehensive status, in which the investors need to get more than 70 scores in order to be "qualified".

2. Account opening of stock index futures needs the following materials

One photocopy or scanned copy of the bank card; scanned copy of ID card (e-edition) (for old edition ID card, scan its front page; for new edition ID card, scan both pages); individual digital mug shot (pixel above 5,000,000, upper body taking up 60% of the entire photo size), and front shot when signing the contract; original of the customer's ID card; the customer's bank card or bankbook.

3. Detailed procedures for account opening

Customers provide relevant documents and evidentiary materials.

The futures company issues the Risk Disclosure Statement and Rules for Futures Transaction to customers, and show the customers the risks and basic rules of futures transaction. Based on the accurate comprehension to the Risk Disclosure Statement and Rules for Futures Transaction, customers shall sign and seal the Risk Disclosure Statement. Finally, fill in the customer reference registration form and determine the commissions.

Futures brokerage agency and customers sign Customer and Brokerage Contract to define the rights and obligations of both parties and establish a cooperation relationship formally.

Futures brokerage agency provides a special account for customer's fund transfer in futures transaction. This account must be distinguished from the brokerage agency's own fund account. Customers must deposit adequate margin into their account before an order.