股指期货的市场功能及其对证券市场的探讨

The Market Function of the Stock Index Futures and Enlightening to Securities Market

股指期货的主要功能有价格发现 ,套期保值、套利。我国股票市场目前的一大缺陷就是只有“做多机制” ,这对股市的深入发展不利 ,而发展股票指数期货市场对我国证券市场发展有重大现实意义。

The main functions of the stock indlex futures have:Price discovery ?Hedging?Arbitrageing.A drawback of the nation's stock market is to has 'long position mechanism' only.It is unfavourable for developing further the stock market.Developing the stock index futures market has important influence on the nations securities market.