后危机时代大宗商品交易现状与前景研究

近年来，大宗商品价格经历了新一轮波动。随着港交所收购LME、FICC业务的下滑、沃尔克法则和巴塞尔协议Ⅲ等监管规则的陆续实施，欧美投行纷纷削减大宗商品交易。文章阐述了后危机时代全球大宗商品定价演变格局，并就我国期货市场建设、贸易融资、钢贸贷款及战略物资收储等方面的问题，提出继续推进期货市场建设；逐步完善FICC业务链条；打造国际化大型粮食集团；完善战略物资收储机制；化解大宗商品融资风险等对策建议。

Study on the Current Situation and Prospects of Commodity Trading in Post Crisis Era

In recent years, commodity prices experienced a new round of fluctuation. With the HKEx＇ s acquisi- tion of LME, the decline of FICC business, and the implementation of Volcker rule and Basel III, European and A- merican investment banks has cut commodity trading. This paper analyzes the development of the global commodity pricing mechanism in post crisis era, then put forward the related countermeasures and suggestions about the con- struction of domestic futures market, trade financing, steel trade loan and strategic materials reserve. It suggested that we should promote the construction of the futures market, improve the FICC service chain gradually, build internationalized grain group, perfect strategic materials reserve mechanism, and defuse commodity financing risk etc.