摘要
对于上市期货品种的流动性而言,交割仓库布局是一个很重要的因素。观察成功的商品期货合约,其交割仓库的合理布局应该既能满足投资者的交割需要,又有助于形成期货市场的统一价格,即有助于期货市场价格发现功能的实现。对于已经上市5年的棉花期货,已经有了大量的交易、交割数据可供检验现有交割仓库布局的合理性。
The delivery warehouse layout plays a very important role to increase the liquidity of futures contracts, and reasonable layout of successful commodity futures contracts should meet the investors＇ delivery need and be favorable for the uniform price formation, that is, which should benefit the realization of price discovery function in futures market. We analyze the data from CZCE cotton delivery system in this paper, and put forward reasonable suggestion about the cotton futures delivery warehouse layout.
出处
《金融理论与实践》
北大核心
2009年第8期96-99,共4页
Financial Theory and Practice
关键词
期货市场
棉花期货
交割仓库布局
仓单流动性
Futures Market
Cotton Futures
Delivery Warehouse Layout
The Liquidity of Warehouse Warrant
