商品期货现金结算的理论研究与分析

The Theory of Commodity Futures Cash-Settled study and Analysis

现金结算与实物交割制度相比,能够使期货价格与现货价格更具有趋同性;在套期保值中,与标准合约标的一致的现货,保值的效果最好。在我国期货市场引入现金结算交割方式,可避免"多逼空"现象发生。

There is more consistant between the futures price and actuals price on cash settlement. At the same time, the hedge will be more efficient when the actuals and the object of futures contract are the same. As the actuality of futures markets in China, the thesis suggests to iutroduce cash settlemen system in the futures markets in China, in order to avoid the risk of 'Coercing Position'.