摘要
上海螺纹钢期货市场的巨大持仓量、成交量,表明其市场功能很可能得到了充分发挥。文章针对螺纹钢期货市场应有的套期保值、价格发现、套利功能,选择相应期、现数据进行了实证检验。检验结果表明:市场具备良好的套期保值效率,存在较为明显的跨期套利机会,期货价格对现货价格具有较强的引导作用。
The great open interest ＆ trading volume of Shanghai twisted steel futures market indicates that the market probably has played a sufficient role. The paper takes a positive inspection on the basis of futures ＆ spot data, aiming at the function of hedge, price-discovery and arbitrage of the market. The inspection shows that the market has a good function of hedge, price-discovery and arbitrage.
出处
《价值工程》
2012年第11期144-145,共2页
Value Engineering
关键词
螺纹钢
期货市场
功能
twisted steel
futures market
function
