Development of stock index futures

The scheme was conceived during the early 1980s, when most Western countries suffered from inflation and speculation due to the crude oil crisis. Stock index futures were created as a hedging tool against risks.

The Kansas City Board of Trade in the US inked the world's first stock index futures contract in February 1982. The same year, the Chicago Mercantile Exchange and the New York Board of Trade launched their own stock index futures.

Two years later, the London International Financial Futures Exchange followed suit. China now joins more than 30 other countries who use them.