我国推出小型股指期货的合约设计与交易问题研究

中国金融期货交易所推出股指期货仿真交易已有一年半的时间.股指期货推出呼声日益高涨的情况下,大多专家和学者将目光放在了机构投资者如何运用股指期货合约进行套期保值及适当的投机交易上.本文尝试着从中小投资者能够参与的角度,建议推出小型股指期货合约.并通过两个实际的投资案例,求出套期保值比率Beta的值,对一元线性方程采用最小二乘法作回归,以期达到套期保值的目的.

Study on Contract Design and Transaction of Small Stock Index Futures in China

The mock trading of stock index futures has already been operated for one and a half year by China Financial Futures Exchange(CFFEX).There has been an increasing louder call for the stock index futures.In such situation,most experts and scholars pay their attention to how institutional investors use the stock index futures contracts to conduct hedging and appropriate speculation.This paper recommended the release of small-sized stock index futures contracts to enable the individual investors to participate ...