摘要
现在，人们对从股市到大宗商品再到汇率等各种价格的急剧波动似乎已经司空见惯，但对许多公司和投资者而言，这种波动意味着难以承受的经营风险。期货交易则提供了某种确定性，帮助投资者管理因市场基本面、财经新闻、天气变化或其他意外事件带来的日常波动风险。160年前谷物期货合约的诞生正是基于这一需要；如今，出于同样的需要，世界各地的市场参与者一周7天、全天24小时地从事着电子期货交易。
Today extreme price moves in everything from stock prices to commodities and currencies can seem like an everyday fact of life. For many companies and investors, such volatility presents unacceptable business risk. Futures exist to bring some certainty and help investors manage the risk that comes with the daily fluctuations of market fundamentals, economic news, the weather or some other unpredictable event. This was the case some 160 years ago when futures contracts on grain originated and it is still the case today where market participants all over the world trade futures electronically, 24/7.
出处
《中国货币市场》
北大核心
2015年第12期45-52,共8页
China Money
