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我国现行法对“期货”本身没有实质性的定义,“期货交易”的认定标准过于侧重交易机制,忽略了参与者范围和标的物种类要素,未能准确体现保护公众投资者和控制投机风险的意图,反而带来法律的不确定性。我国期货法律制度应当构建期货合约与远期合约的实质性区别要件,明确“期货”的实质定义;改变以交易机制作为期货交易所认定的唯一标准的认识,补充公众参与和标的物种类作为认定期货交易所的必备要件。
The current law of our country has no substantive definition of “futures ” itself. The standard of “futures trading ” is too much emphasis on the transaction mechanism, ignoring the scope of participants and the subject matter elements, failing to accurately reflect the protection of public investors and control The intention of speculative risk, on the contrary, brings the law’s uncertainty. China’s futures legal system should establish the substantive difference between the futures contract and the forward contract, clarify the substantive definition of “futures”, change the recognition of the trading mechanism as the sole criterion recognized by the futures exchange, and supplement the public participation and the types of the subject matter As an essential requirement for the identification of futures exchanges.