Font Size: a A A

The Research On Development Of Stock Index Futures In China

Posted on:2005-08-07Degree:MasterType:Thesis
Country:ChinaCandidate:J G LiFull Text:PDF
GTID:2156360122490507Subject:International Trade
Abstract/Summary:PDF Full Text Request
Stock index futures is an instrument for risk management in international capital market. After several years development in China's capital market, the stock index futures is also needed by Chinese investors. The business scale of securities companies, close-ended funds, open-ended funds, social security funds and other institutional investors have expanded rapidly with an increased systemic risk of stock market. But how to hedge systemic risk in China' s stock market is gradually being concerned by investors. Especially since June, 2001, the Shanghai and Shenzhen composite stock indices had fallen by 40 percent for successive seven months, resulting in huge losses to investors. Academics and investors have called for a launch of stock index futures trading. Officials from China Securities Regulatory Commission and Shanghai Stock Exchange also reiterated that a national unified stock index and stock index futures will be launched as soon as possible.The following dissertation sums up fundamental principles of stock index futures trading in advanced countries with a great deal of interrelated books and figures for reference. It introduces current situations of China' s securities markets and analyzes functions of stock index futures to China's economy. It also discusses the necessity and feasibility for developing stock index futures trading in China. A model for stock index futures trading in China is designed and risk management reassures are illustrated. It emphasizes the necessity for launching stock index futures trading in China, functions to China's economy and the model for stock index futures and risk management.
Keywords/Search Tags:Stock index futures, Hedge, Risk management
PDF Full Text Request
Related items