期货市场操纵的认定:美国经验及其启示

Identifying Manipulation in Futures Markets:American Experience and Its Inspiration

基于美国期货市场的实践和学术界的相关研究,提出了期货市场操纵的定义,归纳了期货市场操纵的类型和手法。通过几个典型判例分析了美国在对期货市场操纵进行认定上的经验,并介绍了国外学术研究在市场操纵的判断依据和方法上的进展。在此基础上,得出了美国经验与国外学术研究对中国期货市场规范发展的启示。

Based on the American practice in futures markets development and some academic research related, this paper put forward the definition of manipulation in futures markets, and summed up types and technique of manipulation in futures markets. Through some classic manipulation cases, this paper analyzed American experience on identifying manipulation. Furthermore, this paper investigated the development of methods in academic researches to detect manipulation. Finally, this paper drew some inspiration form American experience and academic researches upon the developing of futures markets in China.