The Innovation Research On Futures Varieties

Picking out the futures varieties and designing the futures contracts maybe the most important work for futures markets researchers. But during the whole 160 years history of modern futures markets, many big risky incidents tell us that not every futures species are scientific enough to be successful in the trade process. There is still a lot of research work to do for the futures specialist, such as how to pick out the right commodities and how to design a reasonable futures contract.Contrast to the advanced futures markets in the developed countries, our futures market still in the beginning process. The short of futures species lead to the absence of pricing power of many important commodities, also lead to many enterprises and merchants cannot hedge the risk of price wave. As a result, how to develop the research, admission and marketing work of futures species, and how to keep the high success ratio of futures species innovation are both the most important themes for the futures markets researchers and administrators in China. As far as I am concerned, picking up the right futures species or not, not only be relative to the development of futures markets and the profit of relative enterprise, but also influence the upgrade process of our whole macro-economy.This article bases on our futures markets, absorbs the experiences and lessons of both domestic and overseas markets, explores the rationale and condition of commodity futures varieties innovation, analyses the prospects of our new futures products development and how to evaluate the operation of the futures varieties. The full text is divided into five chapters, the first chapter explores the conditions required for futures varieties, including the need for cash commodity natural attributes and market size and related industrial. According to the second chapter, you can understand how to design futures contracts scientifically based on the commodities. In Chapter 3,Igive my analysis and advice of the launching species, such as steel and oil futures. Chapter 4 explores the reform of new futures varieties listed mechanism and how to strengthen and promote the marketing work of current futures species. The final chapter makes the evaluation criteria for the functions of futures varieties. According to the both qualitative and quantitative assessment, we can conclude whether the futures variety can perform the risk hedging and price recovering duty or not.