股指期货:中国衍生金融市场发展的第一步

Stock Index Future is Coming into Stage

《中国金融期货交易所交易细则》等九项股指期货配套实施细则的正式发布实施标志着股指期货规则准备工作基本完毕。业界普遍认为推出股指期货有利于构建多层次的金融市场体系,增强国家的金融实力。经过25年发展,股指期货已成为全球金融衍生品的一个非常成熟的主流品种,但目前在国内股指期货尚属“新生事物”,大多数企业对于股指期货还不甚了了。为此本刊特别组织了这一期专题,希望能够从投资股指期货的知识、策略和技术三个角度与读者展开交流。

Since the Chicago Mercantile Exchange (CME) first introduced financial futures in the 1970s, this instrument and other modern financial derivatives have gained ground and become popularized over the past decades. Market hopes that stock index futures in China will perform its designed functions of hedging risks and setting prices for T-bonds. Now the concept of stock index future is still new for most Chinese, so we organize this guideline to introduce what stock index future is and how to invest in this pretty new financial derivative.