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期货,这个充满了神秘和诱惑的字眼,在中国大地流行的时候已是1993年。继股票热和房地产热的此起彼伏,期货交易也应运而生。 (一) 期货并不是货,而是一种反复交易的标准化合约;期货交易不表现为一定量的实际商品,而是买卖期货合约。在期货市场上,买主并不一定真正想购买商品,卖主也未必真正有商品出售,买卖双方都希望通过市价的不断变化,以达到套期保值或投机套利的目的。而套期保值和投机套利也正是期货市场最主要的功能和吸引投资者最重要的原因所在。 套期保值,就是在现货市场买进(卖出)一定数量的商品时,按相反交易方向,从期货市场卖出(买进)等量商品的期货合约。这种保值是怎么实现的
Futures, this is full of mystery and temptation of the word, the time of the popular in China is 1993. Following the stock hot and real estate hot one after another, futures transactions have also emerged. (A) Futures are not goods, but a standard contract for repeated transactions; futures trading does not represent a certain amount of actual goods, but the sale and purchase of futures contracts. In the futures market, the buyer does not really want to buy goods, the seller may not really have the sale of goods, buyers and sellers hope that through the market price changes in order to achieve the purpose of hedging or speculative arbitrage. Hedging and speculative arbitrage are precisely the most important features of the futures market and the most important reason for attracting investors. Hedging is a futures contract in which the same amount of goods are sold (bought) from the futures market in the opposite direction when buying (selling) a certain quantity of goods in the spot market. This is how to achieve hedging