大连商品交易所“保险+期货”模式探究

Development Status,Problems and Countermeasures of "Insurance and Futures" Mode of Agricultural Products in Dalian Commodity Exchange

大连商品交易所(大商所)2015年首发试点"保险+期货"模式,目前已取得阶段性成果,完成农产品价格保险、农户收入保险、农户收入保障计划的层次跨越,实现村镇、地区、区域的范围辐射,参与主体由金融机构升级至全产业链企事业单位。但目前在大连商品交易所"保险+期货"试点项目的持续推进中,仍存在参与主体意愿较低、市场价格发现功能欠缺和对生产决策指导意义较弱等问题。研究从参与主体成本、市场环境和产品设计三方面进行深入剖析,分析存在的问题及其主要成因。提出提高参与主体意愿、深化期现货市场供给环境改革、加强试点产品顶层设计等应对策略,并创新提出将气象指数保险纳入"保险+期货"模式中,通过再保险分散风险。

Since the launch of the pilot"insurance and futures"model in 2015,Dalian Commodity Exchange has always shouldered the responsibility of innovation,development and promotion as a leader,and achieved initial results,complete the level crossing of agricultural product price insurance,peasant household income insurance and peasant household income security plan,and realize the scope radiation of villages,towns,areas and regions,the participants upgraded from financial institutions to enterprises and institutions throughout the industrial chain.However,in the current implementation of the"insurance and futures"pilot project,there are still some problems,such as low willingness of participants,lack of market price discovery function,and weak guiding significance for production decision-making,which need to be optimized and improved with effective strategies and measures.The research focuses on the cost of the participant,the market environment and the product design,analyze the existing problemsans main causes,specific countermeasures are put forward from three aspects:improving the willingness of participants,deepening the reform of the supply environment of futures market and spot market and strengthening the top-level design of pilot products.The purpose of this study is to perfect our country futures market products and function system,innovating the mode of"insurance and futures"development,promote new financial products to solve the problems of the real economy development trend.