The study looked at how prices and volatility are determined in the China Financial Futures Exchange and the Singapore Exchange. They used data from May to November 2011 and found that China's CSI 300 index futures had a bigger role in setting prices compared to Singapore's A50 index futures. However, A50 futures also played a significant part in determining prices. The CSI 300 futures market also had more influence on volatility compared to the Singapore market. These findings are important for traders and policymakers.