The Simulation Research Based on the Impact of Investor Structure on the Futures Market Liquidity

liquidity is the most simple and effective indicator that reflects the quality and efficiency of financial market. In the background of the recent launch of stock index futures in our country, it is a good idea to use the computational experimental simulations to research the liquidity of the stock index futures market. The result shows that noise traders have played a significant role on the provision of liquidity. The relationship between market liquidity and the proportion of the noise trader of all participants cannot be fully determined, but in our paper when there is about sixty percent of noise trader in the market is the best situation.