Study On The Prospect Of Stock Index Futures In China

As an important instrument of financial derivative for risk management, Stock Index Futures possesses the ability of the price finding, of the hedge, speculate and so on. It can prevent the systematic risk of the stock market efficiently. At present Stock Index Futures develops rapidly in foreign countries since it has been founded from 70's twenty century., but it does not be established in our country.. With the steady development of the securities market in China over the past decades, the scale and liquidity of the stock index futures has been guaranteed. As a result, it has created favorable environment for launch of the stock index futures. Considering the huge need of hedging due to the volatility of stock indices, numerous investment subjects come along with the increasing number of institutional investors. With the financial market competitions being fierce day by day and the capital market opening progressively, it is necessary for our country to put out the futures of stock index.The thesis has four parts in all. The first part explains mainly the theoretical foundation of the stock index futures and relevant theory knowledge, introduces the concept character and function of stock index futuresSecondly the thesis explains necessity and feasibility to carry on stock index futures in our country. On one hand, it points out that the stock index futures are demands for sound development of stock market of our country, Thus, it gets the conclusion that it is provided important meaning of theory and reality to push. On the other hand, by reviewing the development of the stock actual market and commodity futures market, represents the existing basic conditions for launch of the stock index futures market in China.The third part with condition of our country's fact , analyses the mistakes on present the Stock Index Futures to public.The fifth part depicts the development strategies of the Stock Index Futures in some emerging markets, generalizes their successful experiences. and thecalculations based on them, argues about the feasibility of immediate launch of the Stock Index Futures, and comes up with relevant countermeasures.