The Research Of Futures Regulatory System Under The New Situation

On 8th, May,2014, the State Council published the No.17 Document of "Some Opinions of State Council on Further Promoting the Healthy Development of Capital Market", also known as new "Nine Policies of State Council", which sets forth the requirements and provisions of nine parts of Chinese financial futures market development, makes overall deployment of Chinese capital market development, and points out that Chinese capital market will fulfill the goal of a multi-level, multi-functional, transparent, well-structured, efficient and open market system. Consequently, our futures market is encountering with a tremendous change.Although our futures market has been developing for over 20 years, its business form is very unitary, and specific gap exists between the offered service and demand of economic entities. Such problems can be attributed to the inadequate laws, regulations and specifications, and excessive administrative intervention which limits the further development of innovative business. In context of new "Nine Policies of State Council the functions and structure of regulation system of futures market should be constantly adjusted along with market development in order to return the authority to the market main body gradually and improve the ability to serve economic entities of our futures market.This paper comprises of four chapters, starts from the history and risks of futures, introduces the actual situation and regulation system of Chinese futures market, concludes the characteristics and weakness of the exiting futures regulation system, presents the American futures market regulation system, compares the futures market regulation systems between China and America, considers the development orientation of Chinese futures market regulation system in the context of new "Nine Policies of State Council", and sets forth suggestions.