Research On Risk Management In Chinese Future Markets

The purpose of the thesis is that present reform suggestion, thereby promote development of future markets, which is based on reality of risk management in Chinese future markets.First of all, it generalizes some expressions of risk of future markets and gives it a complete definition. Then, it analyses essence and forming reasons of risk in future markets, furthermore, the thesis clarifies common theories on the rising of risk of future markets.Although there have all kinds of opinions on risk management of Chinese future markets in domestic theories, however, my thesis does not only focus on study on general theory of future markets. It pays more attention to recall and analyze the whole developing experience and situation of risk management in different steps from our China's reality. Moreover, my thesis tries to analyze shortcomings of Chinese future markets' controlling and so on through the typical risk incidents in the past years in domestic China, then summarize the lessons, experience and characters of risks on risk management systems in domestic markets.From the starting of reality and operation, I think that our government should establish some risk management systems: enacts Law of Future as soon as possible and provides lawful preservations of future markets; makes structure of members turn better, foster hedgers and improves level of traders who are engaged in futures; increase degree of propagations, strengths risk awareness of investors; consummates risk managements of trading markets; enforces risk management of broker companies on futures; establishes some systems, which can control risks beforehand; establishes effective examining systems. And the an important aspect is that I deeply study margin management, delivery management and settlement management in the risk management and clarifies how to make future market turn more perfect from the present situation.