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1.1 期货市场是怎样形成的?随着商品经济的发展,商品交易经历了一个从简单的易货到有货币作媒介的现货贸易再到远期商务合同的出现,最后到商品期货的形成的漫长历史过程。从远期合约的产生到标准期货合约的推出,就经历了几百年时间。可见,期货市场的形成,是商品市场现代化和市场经济形态成熟的界标。早期的贸易集市只具有初级的流通职能,对供求波动、商品集中上市产生的矛盾缺乏更深层次的调节功能。例如,农产品是季节性生产的。在收获季节,当地仓库容不下,向外运不出去,而且贱价亦销不动,但到了禾谷青黄不接时,却又昂价买不到,一些面粉商、面包商等因缺乏原料供应不得不被迫歇业、停产。这种情况周而复始、轮番再现,对供求矛盾的加剧起到引发作用。于是,人们开始探索利用远期合约,在
1.1 How is the futures market formed? With the development of the commodity economy, commodity trading has experienced a period from simple bartering to spot trading with money as medium to the appearance of forward commercial contracts, and finally to the formation of commodity futures. Historical process. From the generation of forward contracts to the introduction of standard futures contracts, it took hundreds of years. It can be seen that the formation of the futures market is the landmark for the modernization of the commodity market and the maturity of the market economy. The early trade bazaar had only primary circulation functions and lacked a deeper level of adjustment to the contradiction between supply and demand fluctuation and the centralized listing of commodities. For example, agricultural products are produced seasonally. During the harvest season, the local warehouses could not accommodate them and they could not be shipped out. Moreover, the prices were still unmovable. However, when they failed, they were unable to buy them. Some flour traders, bread traders, etc. were unable to supply raw materials. Do not be forced to suspend business or stop production. This situation has been repeated and repeated, which has triggered the intensification of contradiction between supply and demand. So people began to explore the use of forward contracts,