Research On Interaction Relationship Between China's Electronic Trading Market And Future Market

As a wholesale market, commodity electronic trading market is specialized in electronic trading commodity, also called "spot market". It has future's features, and it's economic role and influence factors are very similar with futures market, they have certain relevance relationship. Commodity electronic trading market developing rapidly in recent years, it has become more and more important in the economy society, and more investors began investing in such markets. The article tries to test the relationship between the two markets. The article takes the Chinese corn futures market and electronic trading market as the research background, dates is from DaLian Commodity future market and JiLin corn wholesale market, time is from February 2007 to December 2010.In order for seasonal adjustment, filter analysis, unit root test, Granger causality test and cointegration relation analysis inspection.The Empirical study result shows that: although there is mutual change trend between China corn futures price and corn spot price in long-term, basically have market integration relation, causality relationship is asymmetrical, and occasional, co-integration relationship is not obvious. Our state's market. transactions, management and supervision mechanism and speculative group is still not mature, our commodity electronic trading market needs further improvement.