Comparison Of The Regulation Of Stock Index Futures Trading In China And The United States Legal System

The stock index futures is an important financial derivative trading products.Since the advent of the world’s first stock index futures products in1982, after yearsof rapid development, it has become the world’s largest futures exchange in the scaleone of the products. With the reform of China’s financial system, China’s stock indexfutures products in2010listed for trading, contribution to the prosperity of China’sfinancial derivatives market strength. However, as a developing country, China is stillin the early stages of the development of financial markets, stock index futures has ahuge financial risk, if not its effective supervision is bound to endanger the financialsecurity of our country, and even produce a series of social problems. Then how toimplement effective regulatory stock index futures market is a major issue in the faceof our government. And the United States as the originator of the stock index futuresproduct in the legal and regulatory aspects accumulated rich experience, for ourcountry, there must be many places can learn from. China and the U.S. stock indexfutures regulatory system for comparative analysis, in this article the author proposedsome suggestions for improvement of the regulatory system of China’s stock indexfutures.This paper is divided into three parts, introduction, body, conclusion which bodypart is divided into four chapters:The first chapter is a basic overview of the problem of the stock index futures inthe course of development ofChina and the US. The concept and characteristics of thestock index futures in this chapter is a brief statement, especially with the stock andfutures products distinguish. After this, the stock index futures in the course ofdevelopment in China and the United States are summarized introduced to pave theway for later analysis of the regulatory systems of the two countries.The second chapter is from China and the United States to compare thelegislative regulation of stock index futures. This section first describes the U.S. stockindex futures regulatory status of legislation, develop the contents of the main legalbackground, followed by the same regulatory status of legislation on China’s stockindex futures, the same analysis. Then at the end of the chapter on both the status of legislation and summarizes our legislative inadequacies compared with the UnitedStatesThe third chapter is from China and the U.S. stock index futures regulation modeto compare this section first introduced from the two aspects of the regulatory bodyand the regulatory regime of the situation of China and the US. Next, based on theUnited States and China State regulatory body and regulatory regime for comparativeanalysis, and summed up the permission settings of the regulatory body and thespecific regulatory system design shortcomings.The fourth chapter put forward some suggestions for the improvement of China’sstock index futures market regulatory system. This chapter lack of legislative,regulatory authority and regulatory regime proposed for the end of the first twochapters of suggestions for improvement.