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近年来中国资本市场积极备战股指期货,其中经过了经济理论研究、法律制度破冰、监管机构架设、投资者风险教育、交易系统测试等多个环节,可谓“万事俱备,只欠东风”。虽然目前股指期货推出的时间表并不确定,但作为优化中国资本市场结构的战略步骤,金融衍生品市场的建设势在必行。股指期货市场建立后,股指期货的交易量、到期日等均会对股票市场产生重要影响;而股票市场的行情波动又会对股指期货市场产生反馈效
In recent years, the Chinese capital market has been actively preparing for stock index futures, among which many studies have been conducted on economic theory, ice breaking of the legal system, establishment of regulatory agencies, investor risk education and trading system testing. . Although the timetable for the introduction of stock index futures is uncertain, as the strategic steps to optimize the structure of China’s capital market, the construction of the financial derivatives market is imperative. After the establishment of the stock index futures market, the trading volume and maturity of the stock index futures will all have a significant impact on the stock market; and the volatility of the stock market will have a feedback effect on the stock index futures market