国内外证券公司股指期货参与模式的启示

近年来以股指期货为核心的衍生产品市场已成为各金融中心竞争的焦点所在。在亚太地区主要股票市场中,中国大陆是唯一没有股指期货的空白地。因此培育和发展股指期货成为我国资本市场迫在眉睫的任务。借鉴美国以及台湾等国家和地区券商参与股指期货的经验,并在此基础上提出适合我国国情的券商参与模式,对我国日后发展金融期货市场具有一定的指导意义。

Discussion on the Participation Pattern in Index Future

In recent years,the index future,as the very core of derivatives market,has become the focus of competition for the financial centers.Among those main stocks markets in Asia-Pacific region,the mainland of China remains the only virgin land.Therefore,the extremely urgent task of our capital market is to develop and promote index future.In this paper the experience of securities participating in index future was drawn from America,Taiwan as well as other areas.The suitable model in light of Chinese situation,which can also be a guide for our developing finance future market,was proposed.