| As we all know,the two most important roles of the futures market,one is the function of price discovery of futures commodities,and the other is for the enterprises to avoid risks.Among many strategies related to futures trading,hedging transactions are the most common futures trading strategy.For enterprises,wanting to avoid the risks caused by fluctuations in commodity prices to the greatest extent,and combining the company's own spot inventory situation,a reasonable hedging operation in the futures market is undoubtedly the most effective operation for avoiding such risks.Therefore,this article takes the recently occurred Sinopec's wholly-owned subsidiary,China International United Petroleum & Chemicals Company Limited Futures Trading Incident as the object of analysis,and conducts detailed analysis and discussion around this event.By using methods such as causality analysis and comparative analysis,the petrochemical incident is analyzed in depth from three perspectives: official announcements,trading strategies,and financial data.The reasons for the occurrence were analyzed from the external and internal perspectives of the company to dig out the risks faced by the company when conducting futures hedging transactions points,and give practical and effective rationalization recommendations.This article takes Sinopec as an example to design a set of matching mechanism for futures positions and spot stocks of group companies for reference by group companies that are similar in structure to Sinopec and participate in futures hedging business. |
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