对冲机制

在价格风险对冲机制方面一直没有取得任何进展。

No progress has been achieved on price risk hedging .

价格风险对冲机制可以缓和市场震荡带来的痛苦。

Price risk hedging would ease the pain of volatility .

推出股指期货以提供对冲机制的承诺何时能够兑现，目前看来仍遥遥无期。

There is still no sign of the promised index futures to provide mechanisms for hedging .

光明的行业前景所需的结构变化包括：私有化、整合和价格风险对冲机制。

The structural changes required for a positive future were : privatisation , consolidation and a mechanism for price risk hedging .

中国继续摆出帮助私人投资者的改革姿态，如引入对冲机制的股指期货。

China continues to gesture towards reforms to help the private investor , such as offering index futures as a mechanism to hedge .

监管机构尚未对这种模式提出质疑。随着市场重现动荡，拥有恰当衍生品组合的证交所，看起来或许已拥有了完美的对冲机制。

Regulators have yet to challenge that model . With volatility back , exchanges with the right derivatives mix look like they might have the perfect hedge .

股指期货具有价格发现、风险管理和期现套利的功能，有助于优化市场投资者结构，提供风险对冲机制和完善期货市场法律体系。

Generally , stock index future has three basic functions , that is , price discovery , hedging and arbitrage . The futures market could help manage the risk and establish a complete futures law framework .

根据国际经验与中国的实践，为进一步降低中国证券市场风险，保护投资者利益，促进证券市场发展，我国有必要建立证券市场对冲机制，尽快推出风险对冲工具。

According to the overseas experience and the domestic practice , for reducing the risk of China securities market more to protecting the benefit of investors and promoting the development of securities market , China must build the hedge mechanism and push the risk hedge instruments as soon as possible .