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一、豆粕期货合约设计指导思想 豆粕是一个比较理想的期货品种,曾经在国内期货市场活跃过一段时间。1994年1月,豆粕合约首次在郑交所上市交易,1995年8月,广联所豆粕合约正式挂牌交易,1996年12月,苏交所推出豆粕合约。从交易情况看,广联豆粕运行时间最长,交易最为活跃,但同时也发生了一些风险事件,其中一个重要原因就是合约和规则的设计思路存在一定的问题。因此,大商所在豆粕期货合约设计中,确定了以下四个基本的指导思想:
I. Soybean meal futures contract design guidelines Soybean meal is an ideal futures product that has been active in the domestic futures market for some time. In January 1994, the soybean meal contract was first listed on the Zhengzhou Stock Exchange. In August 1995, the Guangbiao soybean meal contract was formally listed. In December 1996, the SOE introduced a soybean meal contract. Judging from the trading situation, Guanglian soybean meal has the longest running time and the most active transactions, but at the same time some risk events have also occurred. One of the important reasons is that there are certain problems in the design ideas of contracts and rules. Therefore, in the design of soybean meal futures contracts, Dashang identified the following four basic guiding principles: