A Study On The Legal Issues Concerning International Financial Futures

Since finance futures business appeared in 1970s, it has developed and innovated continuously, but there are also some new problems during its development. In that case how to gauge and regulate finance futures business and how to serve its turn meanwhile, avoid its disadvantages are the focuses which governments of different countries and relevant international organizations have been showing concerns for. As the establishment of finance futures bourse in Shanghai and the appearance of stock index futures, Chinese finance futures business has entered a new era. However, the present correlated laws cannot catch up with the rapid development of finance futures business, and thus it is necessary to use international experience for reference so that we can establish law systems of our own to gauge and regulate Chinese finance futures business. This paper presents some specific suggestions for the legislation of Chinese finance futures business by using a comparative study and analyzing the legislation on finance futures business of different countries.There are five chapters in this paper.Chapter One gives a general overview of international finance futures business. The writer introduces the conceptions and historical development of international finance futures, and explains its function and the process for finance futures trading.In Chapter Two the writer analyzes the relation of laws in finance futures business. The author expounds the relations of the main bodies and the objects respectively in finance futures business from the angle of civil law.Chapter Three presents the necessity of establishing finance futures business gauges and relevant law systems. The author expatiates the necessity and the significance of regulating and gauging finance futures business, and analyzes the law systems of finance futures business from the aspects of government management, trade self-discipline and self-management of finance futures bourse.In Chapter Four the author introduces the legislation on finance futures business ofdifferent countries and international organizations in the world. The author takes American, Britain, Japan, Hong Kong, and Basel Committee and International Securities Regulatory Commission for example to illustrate the legislation of finance futures business hoping to be helpful to the legislation of finance futures business in our own country.Chapter Five gives the author's reflections on the legislation of Chinese finance futures business. This chapter is the most important part in the paper. The writer indicates the defects in Chinese finance futures business legislation by analyzing the present development of Chinese finance futures and relevant laws. Finally, the author provides some useful and practical suggestions for establishing the frame of Chinese finance futures business legislation.