Research on Frontier Issues of China's Futures Market

Author: Xiao Cheng
Publisher:
Publish Date: 2005-05-01
Features: The cutting-edge issues discussed in the book are generally divided into two major categories. One category focuses on the micro level, studying the business development and management of futures companies, such as cooperation between futures, securities, and banking industries, core competitiveness, etc. The other category takes a macro perspective, exploring relevant institutional arrangements for the steady development of the futures market, such as the establishment of investor protection funds, exit mechanisms for futures companies, etc. The cutting-edge nature of the research questions is reflected in the following three aspects. First, it explores business innovation. Futures-securities-banking cooperation is an emerging marginal business that has become prominent with market development in recent years. The author conducts a three-dimensional analysis of the theoretical foundations, model analysis, and legal regulation of cooperation among futures, securities, and banking industries. This not only summarizes experiences from the perspective of corporate business innovation but also proposes policy recommendations for establishing a tripartite supervision mechanism. Second, it conducts research on institutional innovation. The author suggests that a sound and scientific corporate exit mechanism can not only improve the operational efficiency of the futures brokerage industry, promote the standardization and institutionalization of futures company operations, but also play an important role in safeguarding national financial security and adapting to the internationalization needs of the futures market. Based on lessons learned from developed countries, the author constructs related exit mechanisms for futures companies, such as a risk early warning system. Third, it provides ideas for regulatory innovation. By drawing on overseas market experiences, the author proposes some ideas and suggestions for the establishment, supervision, and operational models of China's investor protection fund, offering new insights for regulatory authorities.