论文部分内容阅读
股指期货是上世纪80年代以来国际金融市场上最为重要的金融创新,它不仅是股市最有效的风险规避工具,而且还是最为高效的投资工具之一。从1982年全球首个股指期货合约推出至今,股指期货发展不过20余年,但已稳居金融衍生品成交量榜首。2006年,金融衍生品市场中,全球股指期货成交量达到近40%的份额,远超过股票、利率期货的市场份额。依据国际金融市场的发展经验,股指期货毫无疑问将成为未来国内金融市场上的明星品种,随着 QFII 的准入和中国股市体制性改革的逐步完成,推出股指期货已成为中国金融管理部门当前工作
Stock index futures is the most important financial innovation in the international financial market since the 1980s. It is not only the most effective risk aversion tool in the stock market, but also one of the most efficient investment vehicles. Since 1982, the world’s first stock index futures contract has been introduced to the development of stock index futures, but more than 20 years, but has been ranked first in the volume of financial derivatives. In 2006, in the financial derivatives market, the global stock index futures trading volume reached nearly 40% of the share, far exceeding the stock, interest rate futures market share. Based on the experience of international financial market development, stock index futures will undoubtedly become the star of the domestic financial market in the future. With the accession to QFII and the gradual completion of the institutional reform in the Chinese stock market, the introduction of stock index futures has become the current stage of China’s financial administration jobs