With the development and innovation of the financial market, stock index futures, as an important financial derivative, plays an important role in guiding market risk and promoting market liquidity. In order to better meet the market demand and protect investors' interests, a series of modifications and improvements have been made to the stock index futures rules.

We have emphasized the protection of investors' rights and interests. In stock index futures trading, the interests of investors are of paramount importance. In order to protect the interests of investors, we have further standardized the operation of exchanges and futures companies. Exchanges should establish a sound risk management system to ensure fair, just and transparent trading. Futures companies, on the other hand, should enhance investor education and risk alerts, and provide better investment advice and risk management tools to enable investors to participate in trading in a more rational and cautious manner.

In the rule change, we focused on the liquidity of the market. Liquidity is the core of market development and a prerequisite for investors to be able to trade smoothly. To improve liquidity, we have increased the number and types of market participants. In addition to traditional institutional and individual investors, we encourage more real economy enterprises and financial technology companies to participate in stock index futures trading. In this way, the diversity of market participants will bring more liquidity to the market and investors will have more choices.

In the rule amendment, we also paid attention to the stability of the market. The stability of the stock index futures market is crucial to ensure the normal operation of the market and the long-term interests of investors. To maintain market stability, we have strengthened regulatory measures and risk management. Regulators should strengthen their supervision of exchanges and futures companies to identify and deal with market risks in a timely manner. Futures companies should also strengthen internal control and risk management to prevent the occurrence of potential risks. At the same time, we will also strengthen the fight against illegal acts such as market manipulation and trading to maintain the fairness and impartiality of the market.

We have paid attention to the development and innovation of the market. With the advancement of technology and the development of financial markets, the stock index futures market will face more opportunities and challenges. In the rule amendments, we have actively responded to market demand and promoted market innovation and development. We encourage exchanges to introduce more varieties and contracts to meet the needs of different investors. We also encourage financial technology companies to use artificial intelligence, big data and other technological means to provide better trading and investment services.

The modifications to the stock index futures rules aim to protect investors' interests, improve market liquidity, maintain market stability and promote market development. Through these modifications and improvements, we believe that the stock index futures market will be more healthy, stable and sustainable development.