Study Of China's Stock Index Futures Market, The Legal And Regulatory System

On April 16,2010, China issued the institution of stock index futures formally. Stock index futures, refers as to the financial futures whose object is a kind of stock index. Stock index futures, one kind of financial derivative which are based on the stock market, are standardized contracts which the buyers and sellers agreed that in the future at particular time in accordance with the agreed price to sell or buy a particular quantity of contracts. The introduction of stock index futures can not only speed up the construction of financial futures markets, improving the structure of our capital market; but also enhance the risk-resisting ability, enhance the international competitiveness of the market, stock index futures give investors a "high return" and also give investors a "high risk" and therefore it must be taken effective regulatory measures will make it function effectively.This thesis is divided into four parts:Chapter one introduced the types and characteristics of the stock index futures, begin with the basic theory of stock index futures, It is can understand the regulation of stock index futures overall.Chapter two describes the stock index futures in other countries and regions, with the legal and regulatory developments, obtained the enlightenment of our stock index futures market by research Hong Kong, the United States, Japan, the United Kingdom. And it provide valuable experience for release and regulation of China's stock index futures market.Chapter three pointed out that the imperfections of regulatory by analyzing current legal system and the operation of futures market regulation. Excessive government intervention and huge power are the main cause of market failure. Lack of self-regulatory of association, imperfections of the exchange system, and lack of self-management of authority were also led to the failure of self-regulation.Chapter four is the full command of the article. Provide some advices to the stock index futures market and legislation Based in the chapters one, two and three, find the relevant solution to the problem, so that the regulatory system of stock index futures market more perfect.