Research Of Supervision On The Legal System Of Stock Index Futures Market In China

Stock index futures is a financial derivative product which was produced in the United States in 1980 s.It's function of value discovery,hedging and risk aversion rapidly spread to the world.Chinese financial futures market policy city phenomenon is serious.False statements,manipulation of the market,insider trading phenomena have always repeated.It is difficult to achieve the dynamic balance between government regulation and self-regulation due to financial futures market legislation's lagging behind,weak government regulation and ineffective industry self-regulation in essence.As a result,the stock index futures market irregularities can not be effectively curbed,so as to maximize the protection of the legitimate rights and interests of small investors.How to draw lessons in its development,making it play a positive role in the stock index futures and carry on the effective supervision has become an urgent need to focus on the stability of the financial market,as well as sustainable development.Chinese stock index futures market is still in its early stage,there are many regulatory problems and loopholes.In order to guard against the risk of financial innovation,it is necessary for us to draw and learn from the successful experience of the development of stock index futures in the international market,enhancing the awareness of risk management of financial investors in our country and improving the relevant laws and regulations.This dissertation has combined the related knowledge of economics from the view of law.First we discuss the necessity of legal supervision system of stock index futures,and then draw lessons from reasonable experience in the supervision system and the extraterritorial legislation of other countries and regions.According to the present situation and problems of supervision system of stock index futures trading law in our country,we should start from the following six aspects to improve the information disclosure system and the civil compensation system: improvement of legislation,the establishment of professional supervision mechanism,strengthening of the exchange and industry association self-discipline supervision,perfect risk control system and the protection of small investors to improve Chinese stock index futures market regulatory system.