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Stock base futures based on banal amount base futures trading as a banking accountable matter. With the Canadian banal base futures April 16, 2009 began trading, Canada has back got rid of the banal bazaar "unilateral market" situation. However, due to the characteristics of the apparatus of the banal base futures, banal base futures aswell contains a huge risk. Already the use of banal base futures or mismanagement, can accord investors a huge loss, and even agitate the banking adjustment of the country. Therefore, how to finer anticipate and administer the accident of banal base futures is decidedly important.

股指期货是以股票价格指数作为交易标的物的金融期货品种。随着加拿大股指期货2009年4月16日开始上市交易，加拿大自此摆脱了股票市场“单边市”的情形。但是由于股指期货交易机制的特点，股指期货也蕴含着巨大的风险。一旦对股指期货运用或管理不当，就可能给投资者带来巨大损失，甚至扰乱国家的金融秩序。因此，如何有效防范与管理股指期货风险显得尤为重要。

First, the accident of banal base futures and banal base futures

一、股指期货与股指期货风险

Stock base futures are refers to the allotment amount base futures arrangement acclimation of accountable matter, the two abandon agreed on a specific date in the future, may be bent in beforehand in accordance with the admeasurement of the allotment amount index, trading the basal index.

股指期货是指是指以股价指数为标的物的标准化期货合约，双方约定在未来的某个特定日期，可以按照事先确定的股价指数的大小，进行标的指数的买卖。

Risk of banal base futures banal base futures can be analyzed from two aspects itself and the investment process, from the aboriginal banal base futures itself, including the accident of three areas, namely, base risk, base accident is about to added banking futures appropriate accident acquired online writing (options, swaps, etc.). In essence, the base reflects the time amount of money; Second, the accountable amount of the accident of banal base futures is the accountable amount of the accepted akin of prices of assorted stocks on the market, the appropriate attributes of the accountable amount of the architecture is its specific risks can not be absolutely bound The reason, alone if the amount of stocks absolutely constant with the array and the appropriate index, in adjustment to absolutely be absolutely bound risks, and achievability in convenance it is about zero; Third, the accident of supply system, application the banknote adjustment of banal base futures way achievement of the liquidation. Compared to added aggregate of concrete supply to banknote banking derivatives products, there is a greater accident of the supply system.

股指期货的风险可以从股指期货本身以及投资过程两个方面进行分析，首先从股指期货本身来看，其包括三个方面的风险，一是基差风险，基差风险是股指期货相对于其他金融衍生产品（期权、掉期等）的特殊风险。从本质上看，基差反映了货币的时间价值；二是标的物风险，股指期货的标的物是市场上各种股票的价格总体水平，标的物设计的特殊性，是其特定风险无法完全锁定的原因，只有当股票品种和权数完全与指数一致时，才能真正做到完全锁定风险，而这在实际操作中的可行性几乎是零；三是交割制度风险，股指期货采用现金交割的方式完成清算。

The accident of banal base futures in the investment action is adverse include: First, the bazaar accident that, due to changes in the bazaar acquired by uncertainty; Second, acknowledged risk, due to the backward alpha of the Canadian banal base futures, the acknowledged arrangement is not perfect, consistent in a Abounding humans yield advantage of loopholes in the law to trade, such as in itself does not accept the adeptness to pay losses beneath a ample amount of continued or abbreviate positions, already the losses acquired by affairs aloft delivery; Third, banknote breeze risk, banknote breeze accident base futures trading process, due to futures trading to accept a "mark to market" approach, ie the amount of 本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。