China-related Issues Of Stock Index Futures Based On The Current Situation In The Capital Market Of China

Stock index futures is a 1980s financial innovations arising in the course of the most important and successful one of the financial derivatives.It is based on the stock market's price index for the transaction of the subject matter of standardized futures contracts. At present, the international stock index futures trading to expand the size of the growing, trading varieties have emerged and become one of the the world's financial markets on the most popular hedging tool for investors.Stock index futures have to avoid the risk and price discovery of function.Paper expounds the introduction of stock index futures three issues, first is the feasibility of introduction of stock index futures, foreign financial markets more complete, more extensive hedging tools that can deal with the financial market risks, China's capital market been developed is also an urgent need for hedging tools, from the management's attention, the spot market, legal protection and six side briefed the Chinese capital in the stock index futures market feasibility. The second is the risk of stock index futures and the impact on China capital market, risk is from the perspective of investors, sub-6 discussed in detail, and also established a risk model Moni Stock Index Futures measure the risks. For the introduction of index futures on China's capital markets, from the spot market prices, volatility of stock index and stock market investor behavior in three areas in detail. The third aspect is the management of risk control, the regulator, the key is to develop a strict system, such as deposit systems, price limits, position limits system, large reporting system, to force open the system, forced to lighten up the system, risk warning system, fully open trading and settlement system to standardize the system of deposit and other futures markets, reduce risk. For investors, mainly from risk awareness, control futures knowledge, learn from foreign experience and research laws and regulations to improve their ability to resist risks.In this paper, using standard research methods, the main stock index futures-depth study of three aspects; the same time access to relevant documents and regulations, use of induction to an overview of the literature; focus of research for different views and different scholars, using induction, which is also interspersed with comparative analysis, combining the above methods to complete the writing of this thesis.This article focuses on the feasibility of the launch of stock index futures, risk and countermeasures to cope with risks to study three aspects of the problem of stock index futures, stock index futures by the theory described basis for hedging and efficient market hypothesis to lay down a solid foundation for this article, hedging is an important objective of introduction of stock index, while the efficient market hypothesis is that stock index futures market in the capital a prerequisite for doing well after the layers of bedding on the feasibility, risk control and deal with policies, start statement Among them, the feasibility of combining the current situation, with time, risk classification to avoid the usual pre-academic point of view, inventive from the investor point of view, closest to the actual operation to describe the possible risks, the policy further by adding the current actual disk operation system should be observed, described the contents of the full text after the end of the general conclusion of this article.International and domestic research on more stock index futures, stock index futures mostly confined to the product itself more with the characteristics and nature of our country of this "emerging and transitional" capital market considerations less targeted for the present situation in China is not very strong. In view of this, this innovation the following:(1) a feasibility study on previous research are somewhat theoretical, and some of China's current capital market de-link, this paper, the facts of China's capital market, detailed and comprehensive analysis of the feasibility of Stock Index Futures.(2)explaining the problem of index futures on market-related research, highlighting the impact of investor behavior, which is neglected at home and abroad point in the current article, they introduce greater risk management space, this paper, the market participants are divided into institutional investors and individual investors to compare, which is more concerned about all aspects of the current.(3) the risk of generalization, the article most of the existing domestic and non-systematic risk from the system to summarize, or from market risk, policy risk to elaborate, the paper traders as a starting point to describe the sub-6 on the market may emerging risks. At the same time the risk level for the strong to build their own model.