The Risk Management Empirical Analysis Of Shanghai’ Sn Futures Product

Since China’s reform and opening up, China’s commodity futures trading are more active. On the one hand, the development of the commodity futures market can give our country financial markets energy and vitality. On the other hand, it is an uncertain factor for financial market. How to manage the risk of commodities futures, it is currently China’s commodity futures investors concerned. Based on the Shanghai futures exchange and London metal tin metal futures as a research starting point, hedgers in futures markets (avoid the price risk of metal tin producers or purchasers) as the research subject, analysis and summary of metal futures risk factor, to build the risk management framework, for hedgers and other investors. This paper summarizes and compares the domestic and foreign tin futures market risk characteristics, develop tin metal futures market risk management framework in our country.Framework is divided into four parts, the risk identification, risk measurement and management strategy, performance review, update and development risk management framework of four parts.Using quantitative method and qualitative method, early warning and risk measurement, get the market risk management framework.Finally in the market risk framework combined with the enterprise risk management framework, build a comprehensive metal tin futures risk management system.In technical processing section, cover with functions of risk identification and classification of the factor analysis, risk early warning function of logistic regression, dynamic hedging ratio model to calculate the futures position function as well as in the GARCH model based on VAR and CVAR risk measurement model. Among them, the innovation of the article is that, through the advanced risk measurement technology,1. Qualitative market environment, do risk early warning; 2. Measuring the hedge ratio get futures position; 3.The measuring value at risk get the VAR of futures products; 4. Combining the market risk management and enterprise internal control, building on the whole industry chain of the middle and lower reaches to the enterprise internal control system of risk management.Tin metal futures market, on the other hand, time is shorter, articles as example to introduce a new risk management method of the product as a reference for the investors.