关于发展我国股票指数期货的探讨

股票指数期货是金融衍生工具是重要的一种，投资参与指数欺纲交易的实持是将现货市场的预期系统性风险转移至期货市场的过程，因此指数期货作为规避风险套期保值的有效工具在西方发达国家得到广泛应用。我国资本市场经过十年的发展，市场规模逐步扩大，投资整体素质不断提高，已经具备发展指数期货市场的基本条件。在国入ＷＴＯ以后，我国资本市场要与国际市场全面接轨，扩大我国证券市场对外开放的程度已成必然。为迎接这一挑战

On the Development of Chinese Stock Index Futures Markets

Stock index futures are one of the most important financial derivative instruments .The nature of stock index trade is a process in which investors transfer the anticipated system risks of spot markets to future markets. Stock index futures as an efficient instrument of hedging and avoiding risks are widely used in the western developed countries. After ten years' development, the scale of Chinese capital markets enlarges gradually and the whole qualities of investors improve constantly. Now there have been the basic conditions of developing index future markets. After joining WTO, our Chinese capital markets are in accordance with the international markets. It is inevitable to expand the opening of our Chinese security markets. In order to face such a challenge, the domestic corporations and financial institutions must work at the theoretical study and practical activities of financial derivative instruments as early as possible. That objectively requires building the markets of stock index futures and other financial derivative instruments in our country.