Research On Risk Supervision And Control Problems Of The Stock Index Futures In China

Since April2010, the stock index futures has been launched for2years in China. As akind of financial derivative products, with the powerful functions of risk transfer and pricediscovery, stock index futures’ healthy operation is important for our country to deepen thefinancial structural reform. However, kinds of risk cases happened home and abroad give us alesson that timely financial regulation which keeps up with the pace of financial innovation isessential to the steady development of the whole economy. Therefore, it’s necessary for Chinato fully identify the stock index futures’ special risks and construct an effective and scientificrisk control and supervisory system of stock index futures at the present stage.This thesis firstly summarizes the fundamental theory of risk supervision and controlproblem of the stock index futures. Then through the risk identification, the thesis analysisthe type and the cause of stock index futures risk.Besides, based on realities of our country,some special risks of stock index futures in China are analyzed. In the fourth part, the papercarry on the quantification analysis to measurement risk of stock index stock，and uses VaR——GARCH model to analyze HS300index futures．Finally, through the analysis of the statusquo and some problems of the regulatory system for stock index futures in China, somesuggestions are proposed to improve the regulatory system.