Impact of the Adjustment of Maximum Order Volume on Pricing Efficiency of Stock Index Futures in China

Table 8

The probability of informed trading for IC, IF, and IH contracts.

Contract	IC1704	IC1705	IC1706	IC1709	IF1704	IF1705	IF1706	IF1709	IH1704	IH1705	IH1706	IH1709
Before the event	0.201706	0.032209	0.045023	0.032309	0.208999	0.03816	0.047681	0.032604	0.180814	0.026589	0.035165	0.020695
After the event	0.185426	0.047679	0.046215	0.033309	0.189643	0.046774	0.051931	0.036207	0.153461	0.044752	0.035419	0.022461