论文部分内容阅读
期货作为一种重要的金融衍生产品,具有套期保值的功能。近年来,越来越多国内企业开始利用期货套期保值规避现货市场风险,但是由于缺少对套期保值风险的客观认识与管理能力,套期保值高额亏损事件频繁发生。燃料油作为原油下游产品,其价格与国际原油价格具有较强的相关性,价格波动剧烈。中国燃料油企业迫切需要利用燃料油期货套期保值规避现货市场风险,但是套期保值操作本身也存在风险。如何正确认识与评估燃料油期货套期保值风险,如何加强风险意识和监控,是燃料油企业亟待解决的问题。
Futures as an important financial derivatives, hedging function. In recent years, more and more domestic enterprises began to hedge the spot market risk by using futures hedging. Due to the lack of objective understanding and management ability of the hedging risk, high hedging losses frequently occur. As a downstream product of crude oil, fuel oil has strong correlation with the price of international crude oil and its price fluctuates violently. Chinese fuel oil companies urgently need to hedge the spot market risk by using hedging of fuel oil futures, but there are risks in the hedging operation itself. How to correctly understand and assess the hedging risk of fuel oil futures and how to enhance risk awareness and monitoring is an urgent problem for fuel oil enterprises.