Analysis On The Pricing Of The Futures-linked Financial Products And Empirical Research

With the development of economic and the growing of investor wealth,de-mands for the personal finance have greatly increased, while the development of financial market promotes rapid growth in the number of financial product-s.In recent years,financial product has gradually become an important class of investment product in the personal finance market.Under the inflationary pressures and customer requirements for high-yield,the design of the financial products is more scientific,and the underlying type of financial products has been recognized by the market because of the diversity of its underlying prod-ucts and the flexibility of products mix.China’s futures market gets a relatively slow development,even the stock index futures are just starting out,however, the futures-linked financial product will become an important part of the fi-nancial products with the market promotion.This article is to explore the pricing method of the related derivative products and to carry out the analysis of the nature of the pricing formula under the background that the futures financial products is not perfect.While the futures-linked financial products are futures options essentially,we can learn from the general method of options pricing,combine product characteristics of futures,and pricing the futures options as well as quantitative analysis.Because the Fractional Brownian Motion (FBM) can reveal the typing characteristics of financial markets greatly, such as asymmetry and long mem-ory,the article gives the futures options pricing formula based on the typing market theory,followed by the binomial tree pricing method.Subsequently,it in- troduces the jump—diffusion model which describes the discontinuous move-ment of the financial asset prices.The focus of the article is that it introduce the partial differential equation (PDE) which is a solution for options pricing to the pricing of the futures-linked financial products.On this basis,it comes to a specific pricing formula and then promotes the pricing formula to the sit-uation paying the deposit. For the financial product series PingAn ZhiYing is one of the few futures-linked financial product in China’s financial market,so finally we take it as an example and introduce the pricing formula of this type.