基差

套期保值与基差风险GPS双差基集的生成

Hedge and Basis Risk The Construction of Basis Sets of GPS Double Differences

现在的市况对它们有利，巴恩斯表示，利率和汇率较低，交叉货币基差互换（cross-currencybasisswap）颇具吸引力，需求也很旺盛。

Market conditions are currently in their favour , says Mr Barnes . Rates are low , the cross-currency basis swap is attractive and demand is solid .

STARFIRE~（TM）-RTG星基差分实时精密单点定位原理、测试与应用

STARFIRE ~ ( TM ) - RTG The Principle , Testing and Application of the Real-Time Differential Precise Single Positioning

由于我国还没有推出股指期货，本文选用了美国S&P500指数期货的数据进行实证。分析模拟价格波动和基差的VaR值，对我国即将推出的股指期货的风险管理有一定的借鉴意义。

Since our country has not launched stock index futures , this paper chooses to use the date of the United States S & P500 index futures to calculate the price volatility and the VaR-based basis value .

VaR法恰恰可以将所以的因素考虑在内，度量资产在一定置信度下的最大损失，也可以度量基差在一定置信度下的波动。

VaR just can put all the factors into consideration , and measure the maximum loss of assets in a certain confidence level . It also can measure fluctuation range of the spread in a certain confidence level .

本文对展期套期保值的基差（Basis）、展期时机、最优套期保值比率、系列展期套期保值（Strip-and-RollingHedge）以及展期过程中的动态调整等方面进行了研究。

In this thesis , the author has a brief study on basis of rolling hedges , rolling chances , optimizing hedges rate , strip-and-rolling hedge , and the dynamic adjust of rolling process .

既然套期保值的客观需求是推出股指期货的内在动因，那么就有必要了解套期保值的行为模式及原理，并掌握基差运用和HR的确定等技术。

Since the objective demand of hedge is the internal cause of stock index futures , so it is necessary to know the action pattern and basis priciple of hedge , and master the technology of using Bias and defining of HR .

为解决这两方面的特殊性，分别提出了二维距离方位预滤波和双基差分距离校正（DRC）方法。

And the corresponding compensating methods including two - dimensional ( 2-D ) range-azimuth prefiltering and bistatic differential range correction ( DRC ) are proposed to solve these particularities .

金融期货交易中的套期保值和基差风险分析

The Analysis of Hedging and Basic Risk in Financial Futures Markets

运用基差交易规避国际贸易风险

The Evasion of the Risks in International Trade Through Basis Transaction

这种做法忽略了股票指数期货和现货间的基差风险。

This approach ignored the stock index futures and the cash-poor risks .

如何度量基差风险就成为学者们研究的问题。

How to measure the spread risk becomes scholars ' research topics .

一个考虑基差收敛性的最适保值比率模型&上期所铜期货卖空保值实证分析

An Optimum Hedging Ratio Model of Considering Basis Convergence

这就主要取决于前后基差的变化情况。

This mainly depends on the spread of the changes before and after .

通过套期保值，投资者可以对持有的股票头寸面临的风险进行对冲，将市场风险转化为相对于市场风险小很多的基差风险。

Through hedging , investors can transform market risk into much smaller base risk .

套期保值实质就是以较小的基差风险来代替市场价格风险。

In fact , hedging takes place of market price risk with less basis risk .

期货交易中基差变化对套期保值效果影响的数学推导

Mathematical Eduction on the Influence of Hedging by the Gap between Futures Prices and Spot Prices

星基差分GPS&StarFire系统

Star-based Differential GPS System & StarFire

流动性基差是指由于缺乏流动性而产生利率差价，即债券的内含收益率与短期市场利率的差价。

Liquidity spread is the difference between the locked-in yields of bonds and short-term interest rates .

三是利用多种期货合约对一种现货进行套期保值分散了基差风险。

Thirdly , we use multiple futures to hedge single cash to disperse the basis risk .

但套期保值操作本身也存在经营风险，即基差风险。

Hedging in itself , however , also involves operating risk , i.e. , basis risk .

导致基差风险的因素很多包括市场风险、政策风险以及操作风险等。

Many factors lead to the spread risks including market risk , policy risk and operation risk .

研究了基差对上海铜期货收益波动率影响的非对称效应。

This paper discusses the asymmetric impacts on the basis on the volatility of Shanghai copper futures .

在基差较小的情况下，投资者由于理论知识的缺乏会显得无所适从。

When the basis is small , the investors are typically very confused due to lacking necessary theories .

套期保值与基差风险

Hedge and Basis Risk

另外，文章还对基金在套期保值中面临的基差风险、流动性风险等进行了探讨。

In addition , the article discusses the basis risk , liquidity risk which the funds faced when hedging .

第四部分针对套期保值业务的特点，探讨了进行技术创新防范与控制期货价格风险与基差风险的方法。

In the fourth part , the method of technological innovation is introduced to avoid some of the hedge risks .

基差有时候也用来表示不同市场间或商品的不同等级之间的价差。

Basis also is used to refer to the difference between prices at different markets or between different commodity grades .

现价建立在与特定的期货合约的基差基础上的远期合同。

A forward contract in which the cash price is based on the basis relating to a specified futures contract .

对于套期保值者和套利者而言，股指期货的风险也就体现在基差波动不确定性上。

For hedging and arbitrage , the risk of the stock index futures is also reflected in the spread uncertainty .