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2016年24卷第4期在多层次资本市场建设的要求下,我国正建立完善的现货衍生品相互引导、场内场外交易相互补充的完善的资本市场体系。在这一发展趋势下,建立有效的衍生品-现货互补对冲机制是完善金融市场的基本要求。期货-现货体系为投资者提供套期保值风险对冲功能对期货与现货合约的紧密联系程度提出非常高的要求,这不仅应体现在价格上,更应微观的体现在交易过程的订单流动性
At the request of the multi-level capital market construction, China is establishing a sound capital market system with mutual derivative of spot derivatives and mutual complementation of over-the-counter transactions in the market. Under this trend of development, the establishment of an effective derivative - spot complementary hedging mechanism is the basic requirement of perfecting the financial market. Futures - the cash system for investors hedging risk hedging on the tight relationship between futures and spot contracts put forward very high requirements, which should not only be reflected in the price, but also should be reflected in the microscopic trading in the order liquidity