论文部分内容阅读
期货市场如一柄双刃剑,它既具套期保值、价格发现等积极功能,又时刻晃动着投机过度、从而市场无序导致“泡沫经济”的阴影。因为期货交易是在保证金帐户下操作的,保证金是期货投资者承受风险能力的财力保证,故此从交易保证金制度这一期货市场管理机制的重要环节出发,对期货“透支”交易予以剖析和法律调整,将有助于期货市场的规范化。
As the double-edged sword of the futures market, the futures market not only possesses positive functions such as hedging and price discovery, but also causes excessive speculation in the futures market. As a result, market disorder leads to the shadow of “bubble economy.” Because the futures trading is operated under the margin account, the margin is the financial guarantee for the futures investor to bear the risk ability. Therefore, from the important part of the trading margin system, an important part of the futures market management mechanism, the analysis of the “overdraft” futures transaction and the legal adjustment , Will help to normalize the futures market.