The Study On Operational Model And Risk Controlling Mechanism Of Ctas In China

As the sub-prime crisis broke out, the development of economy around the world have been affected, whatever in financial markets or the real economy. The pace of our economic growth was also slow down. As opposed to this, Chinese futures market got a bumper harvest. In 2009, the turnover of our futures market exceeded 100 trillion, up 130.51 trillion Yuan, as the trading volume reached 2.156 billion hands. This is the miniature of development in China's futures market.However, at the same time, the futures industry is still subject to the single business mode. It is difficult to share the market the fruits of prosperity for our futures company. In particular, the market is full of retail clients. This will confine the sustainable and healthy development of China's futures market. Thus, the commodity trading adviser system is expected to be introduced in the near future.In international markets, commodity trading adviser is the main institutional investors, but also the middle way of participating in futures market for a number of institutional investors. As a professional asset management tool , the introduction of commodity trading advisers can improve our futures industry and the development of futures markets. On the basis of the development experience of CTAs in international market,this paper will strive for exploring the mode of operation and risk controlling mechanism of our own CTAs. I hope that this paper will be helpful to the introduction of CTAs in our futures market.