The Research On Development And Construction Of Stock Index Futures In China

With the developing of national economy and the deepening of world economy integration, the financial instrument of "stock index futures" is not unfamiliar to us. Stock index futures takes an important effect on the financial market and national economy in China.Since the reform and open policy, the development of financial market has contributed magnitude to domestic economy, by being the critical part of it. No doubt, the sound growth of financial market should be involved in the enhancement of the national economy and in the integration of world economy. The market risk is the biggest bottleneck in the developing process of our country's financial market because the traditional financial instruments cannot satisfy the needs of avoiding systematic risk. The stock index futures, as a kind of innovative financial vehicle, could provide a new idea to perfect our financial market.Since a long time, people have been ignoring the suitable way to avoid financial risk which is stock index futures mentioned above, because our financial market has not been perfect. Stock index futures, as a new financial instrument that the underlying asset is stock index, have linked up the international finance with world trade in those highly developed country of market economies. Comparing with stock and other financial instruments, stock index futures has a far better predominance in supporting the steady development of financial market. Therefore, stock index futures is a practical choice to overcome the difficulty of perfecting our financial market, and a vital way of avoiding financial risk.Firstly, the thesis introduces the basing knowledge of stock index futures business. Secondly, the thesis sums up the critical success factors by deriving sophisticated experience from developed countries. Thirdly, the thesis takes an analysis on the external environment of developing the stock index futures, studies the effect of external environment, and then analyses the problem of stock index futures trading which is about come true in our country by studying the simulative trading of stock index futures. Lastly, the thesis puts forward the countermeasure of carrying out stock index futures business specifically for the developing trend of the stock index futures in our country, and the plan of new financial instruments.