The Research On The Legal Supervision Of Financial Futures Market Risks

The first Financial Futures Contract originated from Chicago Mercantile Exchange, and many other countries followed it. In the recent thirty years, financial futures have developed speedily in many countries.In the 1990s, our country began to issue financial futures, and the first market for Foreign Currency Futures was built on Shanghai foreign exchange swap center in June 1992. The first treasury bonds futures was listed at Shanghai Stock Exchange on December 21, 1992. On March 10 1993, Hainan Stock Exchange Center put out the stock index futures. But all these activities were failed because of incomplete legal system and lack of risk prevention consciousness. Especially the'3.27'treasury bonds futures event shows us how great the risk in the finance futures market is and how important the supervisory institution is. After undergoing winds and rains, China Futures Association was established in December 2000, and China Financial Futures Exchange was found on Sep 8, 2006. The Revision of the Securities Law and the Futures Exchange trading rules give ample room to financial futures trading,and our country made a series of related complementary laws, which signs that the three-level system of the supervision and management of financial futures market risk has begun to take shape. The three–level system of legislative supervision includes China Securities Regulatory Commission's supervision, China Futures Association's supervision and the China Financial Futures Exchange's supervision. Our country will bring out financial futures again in the future. How to perfect the supervision and managing law system of the financial futures market risk becomes the focus question that the country and the people from various areas pay close attention. However, most of the scholars concentrate on the supervision and managing law system of financial futures market risk in the areas of finance, but the legal science research about that is quite few. So, the research of the supervision and managing law system of financial futures market risk has very important practical and theory significance.The thesis includes five parts.The first section introduces the basic theory of the financial futures and the risks of financial futures market. The second section demonstrates the necessity of the supervision and managing law system of financial futures market risk. The third section explores the supervision and managing law system of financial futures market risk of USA, Japan and the related rules of the international organization. And these legal systems bring us the rich enlightenment. The fourth section is about the present status and problems of the supervision and managing law system of financial futures market risks. The fifth section puts forward some suggestions to the supervision and managing law system of financial futures market risk.The research methods in the thesis are comparative analysis, integrating theory with practice and so on. I try to research how to perfect the supervision and managing law system of financial futures market risk from the respect of law, and I strive for making it more scientific and effective.