The Civil Ability Of Market Corner In Futures Trade

With the promising development of China's futures market, there isa big problem, Market Corner, looming in the prosperity. The MarketCorner will seriously disarranged the futures market and the legalinvestors' interests will be aggrieved. The existing laws and regulationsare from administration departments who do not pay much attention tothe investors' estate loss. In this case, the legal investors' interests are outof protection. This does breach the spirit of law rather than abide by thejustice of law. The paper focuses on the substantive laws and procedural laws,aiming at explaining the civil legal obligation that relating to the MarketCorner. It begins with the description of the character of this specialconduct which is to build up the basis of the civil legal obligation. Andthen it comes to the conclusion that Market Corner is a kind ofmanipulating market conduct, and that should be punished by law. The second part deals with the obligations of the tort in MarketCorner. In this part, the author proposes a new theoretical model for thedifferentiation of the obligations, which should be shouldered by thedoers. And then the writer exploits the great significance of the newmodel from the three perspectives: the Law, t Economics, and theSociology. And then the part continues to discuss who should shoulderthe responsibility in Market Corner, and whether the doer is in a pluraland collective form or not, and whether, if so, the doers should share theresponsibility in Market Corner. The analysis method of law economicsand sociology is a novelty in this paper, and it uses cost-profits method tosolve law problem. Regarding the highly specialized and coveredcharacter of futures, it can't be ease to tell who are legal investors andwho are Market Corner conductors. And another difficulty is to tellwhether the Market Corner conductors fulfill the action together or not. Ifthey do, then they have to afford related obligation. And in this way, thevictims' rights can be better protected. After analyzing the inflictingbehavior, the damage facts and the causality between them, the writerdraws the conclusion that Market Corner conductors fulfill the proceedingin common. This gives a good explanation of why they should affordrelated obligations. This conclusion is mainly built up because of the application ofmean theory. That is to say, in the invading in common, all the conductorshave fault, which may be deliberate or undeliberate. But what is incommon is that the content of their conduct are the same or familiar. Thefollowing part continues with the discussion of the principle of MarketCorner conduction's cognizance. Because there are a lot of participants inthe futures market, and the exchange among the investors are so often thatit is quite difficult to carry punishment into execution. It is almostimposable to prove that the Market Corner conductors areguilty.Adopting the principle of fault induction can enhance theprotection of legal investment, and this kind of obligation cognizance isconvenient in the execution of justice. Because Market Corner happens inthe financial field, it is more reasonable to choose monetary pension tocompensate those who loss in the Market Corner. As Market Corner isone of the tortuous conduct, the monetary punishment should be efficient.Those who break the law will earn nothing, so they will choose to give upinfringing others' legal rights. Those who loss in the Market Corner won'tmake any profit, either. Then the balance of futures market will bekept.This is why this paper spend a lot of paragraphs to demonstratewhich one is better between punitive compensation and completingcompensation. The drawback is the calculation of the definite amount ofmoney that should be compensate to the victims. This is a problem thatneeds to be held further discussion. The next part is mainly about the proceeding law. Regarding thesimilarity between stocks market and futures market, the author suggestsfollowing the lead of stock market to fulfill preceding the administrationprocedure. It can bring a...