Hedge Management Based On Apple Futures Price Discovery Function

This article first from the institutional framework of the futures market,the principles of the basic theory of the price discovery and hedging of futures market and type a few aspects of basic theory research,combined with apple's spot industry situation and the design of futures contracts,focusing on apple futures delivery standards,delivery warehouse distribution,etc,on the basis of the comparison in January 2018 to May 2019 apple futures settlement price and the spot sales price,apple futures price discovery function are analyzed,through analysis the apple futures have a certain price discovery function,However,the contract rules of apple futures still have some room for improvement.Secondly,based on apple futures price discovery function,combining S fruit companies to participate in the futures market to carry out hedging business case,in accordance with the principle of the principle of hedging and analyzes S fruit of hedging business,through the analysis found that S fruit company do business of hedging,existing management system lack of hedging,lack of professional talents,futures hedging strategy is not clear,eventually lead to the failure of the hedging business,causing loss of the enterprise to teach.Finally,the reasons for failure of the hedging business of S fruit company are considered,this paper attempts to standardize S fruit company's participation in the futures market to carry out hedging business,and points out that S fruit company needs to improve its regulations,personnel training,hedging strategy,hedging effect monitoring and review.S fruit company needs to formulate sound rules and regulations,clarify the purpose of hedging,business scope,department responsibilities,emergency plans,information disclosure,etc.,so as to form a scientific and effective decision-making mechanism and lay the foundation for successful hedging at the institutional level.Through organizing training,participating in research,attending industry conferences,etc.The hedging strategy should have clear price target,reasonable hedging proportion,fully consider the abnormal fluctuation of the market,and make emergency plan;When executing the hedging strategy,the effect of hedging should be timely evaluated,the stop-loss and capital scheduling should be done well,and the risk should be controlled well.It is necessary to review and summarize the hedging strategy regularly,draw lessons from experience,and revise and improve the hedging strategy.