Stock Index Futures, Risk Control

In China, with the growing of security market scale, the acceleration of marketing process and the development of institutional investors, more and more immanent contradictions have appeared. One important factor is the lack of financial tools, which results in the short of risk management tools in the security market. Therefore, as an effective risk management and investment tool, the stock index futures has been paid close and extensive attention by all the investors both inside and outside the security market recently. The thesis focuses on the stock index futures and its function in financial risk management.This thesis analyzes and sums up some theories and methods of the stock index futures based on a great deal of interrelated domestic and overseas data. The thesis includes five chapters. It introduces the stock index futures in brief firstly. Then it illustrates the economic functions and risk management measures of stock index futures separately. Still then it discusses the feasibility and necessity of developing stock index futures in China at present, and designs out the stock index futures trading mode accordingly. It emphasizes the analysis of the risk management measures and the basic terms of stock index futures developing in China. It shows that although some new market risk sources will appear, it is feasible to develop stock index futures in China at present under the circumstances that the bourses, the supervising organizations, the broker institutions and the market participants can fully understand the investment risks of stock index futures and master the measures of risk management. It also shows that developing stock index futures will benefit Chinese security market and is helpful to enhance the efficiency of the security market.In addition, besides the theoretic analysis, the thesis introduces a large number of practice and research achievements of the western advanced markets. These valuable practical approaches could work as the guideline for the practice of the stock index futures in Chinese financial market.