期货贸易实务

　　内容简介

　　本书内容涉及的范围有商品期货，黄金期货，外汇期货，期权等交易，套期保值，套期图利，交易所组织机构，操作程序和方法，交易结算，世界主要期货市场和中国期货市场概况等等。本书适用于经贸院校大学生、研究生以及从事国际商务的干部学习参考之用。

　　 目录

　　Chapter 1 Basic Concept of Futures Trading

　　1. Price Risk in Market Economy

　　2. Forward Trading

　　3. Emergence of Futures Market

　　4 Rapid Development of Futures Trading

　　Chapter 2 Establishment and Functions of

　　Futures Market

　　1. Prerequisites for the Establishment of

　　Furures Market

　　2. Characteristics of Futures Market

　　3 Functions of Futures Market

　　Chapter 3 Operation of Futures Market

　　1. Organizational Structure

　　2. Market Participation

　　3. Daily Operation and Order Routing

　　4. Futures Contracts

　　5. The Margining System

　　6 Clearing Houses

　　Chapter 4 Commodity Futures Trading: Hedging

　　1. What is Hedging?

　　2. Two Types of Basis

　　3. Cash and Futures Price Relationship

　　4. Cash Price at a Premium

　　5. Two Types of Hedging

　　6 Additional Advantages of Hedging

　　Chapter 5 The Effect of Basis Movement on Hedging

　　1. Basis Movements

　　2. A Selling Hedge in a Normal Market

　　3. A Buying Hedge in a Normal Market

　　4. Great Risk in an Inverted Market

　　5. Integrated Hedging

　　6 Summary

　　Chapter 6 Basis Trading

　　1. Techriiques of Basis Trading

　　2. Buyerapos;s Call

　　3. Sellerapos;sCall

　　4 Trading Outside the Ring

　　Chapter 7 Spreading

　　1. Speculatorapos;s Position

　　2 What is a Spread?

　　3. Inter-delivery Spreading

　　4. Inter-market Spreading

　　5 Inter-commodity Spreading

　　Chapter 8 Option

　　1. Call Option

　　2. Put Option

　　3. What Determines the Premium?

　　4 Option Spreads

　　Chapter 9 Gold Futures Market

　　1. Fixed Exchange Rate System Collapsed

　　2. International Gold Market

　　3. Pricing of Spot Gold

　　4. Gold Futures

　　5. Investment Strategy on Gold Futures

　　6 Intermarket Gold Futures Trading

　　Chapter 10 Financial Futures Trading

　　1. Emergence of Financial Futures Trading

　　2. Interest Rate Futures

　　3. Financial Instrument Futures

　　4. Common Features of Financial Instruments

　　5. Operation of Financial Futures Trading

　　6. Option on Financial Futures

　　7 Stock Index Futures

　　Chapter 11 Foreign Exchange Futures

　　1 Forward Exchange Transactions and Arbitrage

　　2. Foreign Currency Futures

　　3 Foreign Currency Option

　　Chapter 12 Futures Markets in China

　　1. Market Economy and Futures Trading

　　2 Integration of the Chinese Market

　　with the World Market

　　3. Futures Market in the Embryonic Stage

　　4. Futures Market in Operation

5 Positive Steps to be Taken