Proposals for Designing China's Stock Index Futures
The artice mainly elaborates the author's proposals for China's stock indes futures.As to the problem of index choice,the author suggests that a new index which is the combination of Shanghai and Shenzhen index should be taken as the basis of futures contract.As to the design of futures contract,the author suggests that we should conditions of China as well as experiences of developed countries in deciding such problems as multiplier,tick size,delivery month,margin,limit up and limit down.As to the trading ring,the author suggests that Shanghai Futures Exchange should be our first choice.