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自1982年美国堪萨斯城期货交易所推出价值线指数期货合约起,股票价格指数期货经过二十多年市场实践,已成为期货市场上一个比较成熟的品种,国外发达国家资本市场均推出了股指期货。我国于2010年4月16日在中国金融期货交易所上市沪深300股指期货合约,打通了我国证券和期货两个市场,我国A股市场从此引入做空机制并进入双边市时代。目前中国股指期货推出已超过半年,股指期货作为金融衍生品在活跃股票市场、分散投资风险、进行套期保值等方面有着独特功能,它带来的卖空交易、套期保值等对我国资本市场产生了巨大影响。
Since the introduction of the Value Line Index Futures Contract by the Kansas City Futures Exchange in 1982, stock price index futures have become a relatively mature variety in the futures market after more than 20 years of market practice. The capital markets of developed countries have all introduced stock index futures . On April 16, 2010, China listed Shanghai and Shenzhen 300 stock index futures contracts on the China Financial Futures Exchange, opening up two markets for China’s securities and futures. Since then, the A-share market in China has introduced a short mechanism and entered the era of bilateral markets. At present, China’s stock index futures have been launched for more than six months. Stock index futures have unique functions as financial derivatives in active stock market, risk diversification and hedging. The short selling, hedging, Has a huge impact.