摘要
实物交割和现金交割是期货交割的基本方式,不断出现的市场风波日益使人们意识到现金交割制度具有更大的优势。在回顾现金交割制度历史的基础上,对现金交割对市场功能的影响进行了分析。现金交割制度的核心在于结算指数的编制,对CME生猪期货合约指数的编制方法进行了说明,提出了我国现金交割制度的设计思路。
Physical delivery and cash settlement are the basic method of future delivery. More and more market risks make people realize the advantage of cash settlement. After reviewing the history of cash settlement, we analyze the influence on future market functions. The core of cash settlement system is the settlement index. We introduce how CME works out the hog future index, then put up our thoughts on cash settlement.
出处
《武汉工业学院学报》
CAS
2008年第1期79-82,共4页
Journal of Wuhan Polytechnic University
基金
湖北省教育厅人文社会科学研究规划项目(2007q030)
关键词
交割制度
现金交割
结算指数
delivery system
cash settlement
settlement index
