Shanghai University, Shanghai 201800, China
On December 13, 2019, China officially launched the CSI 300 ETF option, which is the second option product after the listing of SSE 50 ETF option. Its launch further improves the development of China's financial derivatives market. This paper takes the daily closing price data of CSI 300 ETF as the research object one year before and after the listing of CSI 300 ETF options. Through ADF test, ARCH test and GARCH model analysis, it is concluded that CSI 300 ETF options can reduce the volatility of spot underlying yield, but the effect is weak. Based on the positive impact of the listing of CSI 300 ETF options on the spot target, this paper puts forward countermeasures and suggestions from the government, financial institutions and investors, in order to provide guidance for the development of financial derivatives.
CSI 300 ETF, Options, Spot target, Volatility
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