CAJ | 학술논문

股指期货是一种新的金融衍生产品，对发展和完善我国证券市场具有重要意义。本文在详细介绍了股指期货的特点和功能的基础上，借鉴发迭国家和地区股指期货推出和发展经验，结合我国证券市场实际，对开发股指期货的必要性和可行性进行探讨．并针对开发股指期货实施步骤、政策准备和风险规避策略等方面提出了相关建议：实施步骤厦政策准备应包括法律、管理规则修改与准备、科学编制股指、渐进式开放和借鉴国外经验等几个方面；风险规避策略包括建立严密的法规与监管体系、科学合理地设计股指期货合约、完善市场运行机制、加强期货市场与股票市场的合作和壮大与完善股指期货的投资主体等七个方面。
고지기화시일충신적금융연생산품，대발전화완선아국증권시장구유중요의의。본문재상세개소료고지기화적특점화공능적기출상，차감발질국가화지구고지기화추출화발전경험，결합아국증권시장실제，대개발고지기화적필요성화가행성진행탐토．병침대개발고지기화실시보취、정책준비화풍험규피책략등방면제출료상관건의：실시보취하정책준비응포괄법률、관리규칙수개여준비、과학편제고지、점진식개방화차감국외경험등궤개방면；풍험규피책략포괄건립엄밀적법규여감관체계、과학합리지설계고지기화합약、완선시장운행궤제、가강기화시장여고표시장적합작화장대여완선고지기화적투자주체등칠개방면。
Stock index is a kind of new financial derivative product,which will paly an important role m the development of China＇s security market. On the basis of introduction of stock index futures＇ character and function, the paper analyses the necessity and possibility of developing stock index futures according to our security market and gives the proposals of implementing steps,preparing policies and risk-avoiding tactics. Preparing policies include law preparation, scientific stock index, gradual opening-up and using overseas experience. Risk-avoiding actions include establishing strict law and monitor system,scientific stock index futures agreement ,consummating the market mechanism, strengthening the cooperation of stock market and futures market , enlarging the stock index futures investment body and etc.