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The Design Of China's Stock Index Futures Contracts Portfolio

Posted on:2005-05-20Degree:MasterType:Thesis
Country:ChinaCandidate:Y H SongFull Text:PDF
GTID:2206360125457433Subject:Business Administration
Abstract/Summary:PDF Full Text Request
Stock Index Futures, which has functions of price findings, evade risk and assets distribution etc is a new type of investment tool developed from the 1980s, it can complete the stock market's function and system validly. As the trend of the world's economic and financial integration the financial and capital market in China needs to improve gradually according to international practice and put out Stock Index Futures. It's very essential to develop the financial derivation market in China.There has not any Stock Index Futures in China yet and still exists a lot of differentiation and argument on this matter due to lacking of experience and guidance, especially in the theories. Considering the complexity, importance and risk of the stock index futures, we should impel it according to Chinese real conditions and make good use of the abroad successful experience. This paper argues the contract design of the stock index futures and its application in investment portfolio through the thorough consideration on the setting up conditions and essentiality in China.There are four parts in this paper: Firstly, it will introduce the background of choosing this topic, and the relevant research in China at present; then the analysis of the stock index futures' development conditions will be given, followed by the contract design of stock index futures; in the last part the application of stock index futures in investment portfolio will be discussed. The four parts are inherently connected from one part to the next and provide good operation in practice.The assignment puts forward the ideas of how to design the Chinese stock index futures' contract on the basis of the relevant update information from U.S.A. and some European and Asian countries, against the practice of China as well. It also discusses how to use the stock index futures in investment portfolio on the theories of futures' return rate (Black. F,) and futures' risk overflow (Ducsak, K.). Which are very practical to the setting up of the stock index futures and to the investment for the investors.
Keywords/Search Tags:Stock Index Futures, Contract design, Portfolio, Evade risk
PDF Full Text Request
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