论文部分内容阅读
18年前,国债期货经历短暂辉煌后被迫暂停。18年后,在市场体系完善的前提下,中国国债期货蓄力重出江湖。2012年12月19日,国债期货仿真合约TF1212平稳交割。中国金融期货交易所(以下简称中金所)总经理张慎峰等人已明确表示国内国债期货合约、规则已经设计完毕,在业务运作环节上推出国债期货没任何问题。国债期货推出将为债市提供有效的定价基准,并方便机构投资者分散风险,优化资产组合,以及国债期货的杠杆效应能降低机构资本投入。另外,控股或参股期货公司的上市公司受益最大。回望最黑暗的日子实际上,中国接触国债期货的时间还是挺
Eighteen years ago, bond futures were temporarily suspended after being brief and brilliant. Eighteen years later, under the precondition of a sound market system, the value of China’s national debt futures plummeted. December 19, 2012, the bond futures simulation contract TF1212 smooth delivery. Zhang Shenfeng, general manager of China Financial Futures Exchange (hereinafter referred to as CICC), has made it clear that the domestic bond futures contracts and rules have been designed and that there is no problem in launching the government bond futures on the operational links of the business. The introduction of Treasury bonds futures will provide an effective pricing benchmark for the bond market and facilitate institutional investors to diversify risks and optimize asset portfolios as well as the leverage effect of government bond futures to reduce institutional capital investment. In addition, listed companies that hold or participate in futures companies benefit the most. Looking back on the darkest days In fact, China is still quite close to bond futures