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与外汇期货,利率期货和其他各种商品期货一样,股指期货是顺应人们规避风险的需要而产生,专门为人们管理股票市场的价格风险而设计的。为了避免或减少股票现货市场由宏观因素决定的系统风险的影响,人们从商品期货的套期保值中受到启发,设计出一种新型金融投资工具——股指期货。其实质是投资者将其对整个股票市场价格的预期风险转移至期货市场的过程,通过对股票市场价格趋势持不同
Like foreign exchange futures, interest rate futures and various other commodity futures, stock index futures are created to meet the needs of people to avoid risks and are specifically designed to manage the price risk of the stock market. In order to avoid or reduce the systematic risk of the stock spot market determined by macroscopic factors, people are inspired by the hedging of commodity futures and design a new type of financial investment instrument, stock index futures. In essence, investors transfer their expected risk on the entire stock market price to the futures market through different trends in the stock market price