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1、可以更为有效的进行信息的传递。本文证明了我国沪深300指数的正式推出是比较成功的，但我国毕竟处于金融市场发展的初级阶段，各种非理性的投资和市场操纵现象比较严重，所以为了确保以后期货市场和现货市场的平稳运行，我们一定要加强风险意识，加大风险监管力度，保证市场的健康有序发展。关键词：股指期货，股指现货，波动性，价格发现IIABSTRACTInthe1970s,theWesterndevelopedcountrieshavebeenplungedintotheoilcrisis,andtriggeredaseriesof“stagflatio
2、n”phenomenon;themarketwasinseriouscrisis.Inordertoavoidthisriskatthatemergencytime,peopleeagerlylookforwardtoanewfinancialderivatives,whichcanstopthesituationfrombadtoworse,atthistime,intheUnitedStates,theworld’sfirstfuturescontracts-ValueLinefuturescontracts(1978)havear
3、isen.Afterthis,allovertheworld,especiallyWesterncountriesandsomeemergentmarketeconomycountriesarecarryingouttheirowncountry’sstockindexfuturesmarkettransactions,andhaveaccumulatedrichexperiencesandwealthinthedevelopmentprocessoftheseyears,andhavetastedthebenefitsofthenew
4、financialderivatives.Thedevelopmentofthefuturesmarketinourcountryisrelativelylate,andtheexplorationstartedfromthelatelastcentury,andexperiencedaseriesofupsanddownsinthebeginning,butalsolearnalessonandlearnfromtheexperienceofsuccessfulcountriesintheprocesscontinually,andt
5、hencancarriedoutattemptandreformsbetter,andfinallyledtothebirthoftheCSI300Index.TheCSI300IndexwasfirstintroducedbytheChinaSecuritiesIndexCo.,Ltd.OnOctober30,2006,whichisajointgroupfromtheShanghaiStockExchangeandtheShenzhenStockExchange,andfouryearslater,transactionformal
6、lyonApril16,2010,becausethisindexoccupies60%ofA-sharemarket’seffectiveshare,andthereforehaveabetterrepresentationonthespotmarket,whichcanreflectthesituationofthesecuritiesmarketeffectively,inthetwomarketsinShanghaiandShenzhen,theShanghaistockmarkethasamoreprominentrolein
7、themotherboardmarket.ThisarticleselectedtheShanghaiStockExchange,theShanghaistockmarketdetaasrepresentativeofthestockmarketdataanalysis.TheCSI300Indexhasthreeyearsofdevelopmentfrom2010tonow,althoughnotalongtime,havesufficientdatacanbeanalyzed.Becauseofthesmallsamplesize,
8、therearemanydoubtsonrepresentativeoftheresearchesresultsabouttherelationshipbetweenthefuturesandspotmar
