The Study about Risk Measure and Risk Prevention of Stock Index Futures in China

With the international trend of financial market, the innovation of financial tools is diversify, the stock index futures has become the most vibrant tool in the financial derivatives market. After China’s accession to the WTO, Chinese financial industry faces pressure, and Chinese capital market exists some problems, stock index futures is helpful to perfect the mechanism of Chinese capital market. For more than a year, the preparation of stock index futures has been steadily. From the perspective of international and domestic situations, stock index futures market is inevitable. But the high lever determines the more potential risks, the risks will destroy financial industry and macro-economy. Therefore, strengthening the study of futures market risk and promote Chinese financial derivatives market development are the most important actions, which also meet the needs of economic globalization and financial globalization challenges.The stock index futures is recommend on Aprial 16th this year. The study of its risk is relatively weak, especially the study of risk measure and empirical research on the abroad futures market. Based on previous research achievements and a lot of materials, analyzing and demonstrating the methods of risk prevention, and using quantitative research and mathematical analysis, studying advanced theory and rich experience together. The thesis plays a reference role for the cultivation and development of our stock index futures market.The thesis has four parts. The first part analyzes the status quo of stock index futures. The second part introduces the risks of stock index futures that our financial market faced. The third part measures the risks of stock index futures with mathematical model, it’s the most important part of this thesis. The final part analyzes how to deal with risks and demonstrates some important methods.