Research On The Problems And Countermeasures Of Government Supervision In China’s Futures Maket

With the accelerated pace of China’s economic development,the market operation is increasingly standardized and the market functions become more and more visible.However,for the futures market is very flexible and more sensitive to the regulatory system,the supervision authorities are required to constantly update the regulation mechanism according to market changes.With the steady development of China’s economy,the varieties of futures trading are gradually increasing,and the trading scale is continuously expanding,so it is imperative to pay attention to the multi-agent supervision of futures exchanges.Based on public interest theory of regulation,the paper introduces the core concept of multi-agent supervision of futures market in detail and analyzes the current situation of multi-agent supervision of China’s futures exchanges by documentary method and method of comparative analysis.It found that there are some problems in the current multi-agent supervision of futures exchanges,such as imperfect legislation,excessive supervision,and lagging supervision,thus exploring the main cause of these problems.Meanwhile,the paper analyzes the relevant practices of multi-agent supervision in the United States,Japan,and other countries,and makes a horizontal comparative analysis of China’s futures exchanges in the construction of multi-agent supervision mechanism.Finally,some constructive suggestions are put forward to improve the multi-agent supervision of China’s futures exchanges.At first,we should improve the legal system of multi-agent supervision in futures exchanges,clarify the main body of futures market and its responsibilities,as well as the legislative concept of multi-body supervision in futures market,and formulate and implement Futures Law and supporting laws and regulations.Secondly,we should make clear the rights and liabilities of each department in the government regulation,build a coordinationmechanism between the main bodies of the futures market in China,play the leading role of the government regulation in the futures market,and promote the information sharing in the futures market.Last but not least,we should adjust the multi-agent supervision in the futures market.That is to say,we should make clear each supervision subject in the futures market and their responsibilities,balance the authority of government regulation and self-discipline supervision of the futures market,and gradually complete the industry supervision system.Therefore,what we should do is to find a multi-agent supervision idea suitable for China’s national conditions and the current situation of China’s economic development,and to provide some guidance and suggestions for the multi-agent supervision of China’s futures exchanges.