“套期保值”分析

The Analysis on Future-hedge

国内外一些学者把套期交易和套期保值联系在一起。对上海商品交易所2003-2005年天然橡胶期货与现货价格实际变化情况进行研究,发现套期交易除了有锁定价格的作用外,还存在期货价格和现货价格的同方向不同幅度的变动,即套期存在保值差异和逆向风险。因此,套期保值应表述为套期锁险。

The definition review of hedge often makes it connected with a value - unchanged method. By presenting the records of Native - rubber stock prices and future prices, the paper finds the fix - lost, the running risk and the risk of up - down prices upon the spot and future. This leads to the conclusion that there are risks in hedges which are the free - running risk and the up - down risk. The value - unchanged - method of hedge ought to be described as fix - lost.