期货

Considering transaction cost, Hedger's attitude to risk, variance of foreign exchange rate , with Von Neumann Morgenstern utility function and Bernoulli principle, this paper analyses optimal hedging of the foreign exchange risk during the import/export with forward/future contracts, and the influence of the above mentioned factors on the optimal hedge rate.

本文在前人研究基础上，考虑交易费用，决策人对风险的态度，汇率相对风险大小等因素，用Von Neumann- Morgenstern效用函数和 Bernoulli决策法则建立了研究利用远期/期货和约做外汇套期保值问题的一般模型，然后具体分析了一种典型情况下的最优套期保值率的性质。

This approach will enable the different investors bear the risk, and access to the corresponding rewards. The first two methods did not consider investors attitudes of risk and the expected price of the spot or futures. However, the hedger of the maximize effectiveness calculates the optimal hedge ratio through the establishment of investors utility function and calculus.

前面两类方法都没有考虑投资者的风险态度和对现货或者是期货价格走势的预期，而效用最大化套期保值通过建立投资者的效用函数，再利用微积分求最值的方法来计算最优套期保值比率。

This is precisely because the United States has this kind of stock index futures hedging tool.

这正是因为美国有这样股指期货的一种对冲工具。

He noted that she never lost her head in either case; that with a splendid courage she often went short on worldly futures, but heedfully drew the line there--she was always long on the others.

他注意到艾莱柯无论在哪一方面都从不丧失理智；她颇有胆量，在尘世的期货市场上总是做短线，但是她小心翼翼地到此为止——在其他方面，她做的都是长线。

Therefore, we believe that the introduction of margin trading and securities lending market will help lay a solid foundation for stable operation of the internal and improve the market mechanism, and the short features will help reverse stock index futures arbitrage, from China Long-term development of the capital market point of view, is an extremely important financial innovation.

因此，我们认为，保证金交易和证券借贷市场的推出将有助于稳定奠定了坚实的基础运作的内部和完善市场机制，从短期功能将有助于扭转股指期货套利，从中国长期的角度发展资本市场的角度，是一个极为重要的金融创新。

Despite the blue-chip stock index futures will help increase the valuation, but the A share market for the near future, several experts in a slightly different point of view.

尽管蓝筹股股指期货将有助于提高估价，但在不久的将来A股市场，在一个观点略有不同角度的专家。

Hercynian disk on the concept, the concept of an overall strength of the futures market, this is a super bull market in only some of the performance.

盘面上最海西概念，期货概念出现整体走强的走势，这是在超级牛市中才会有的表现。

Homeopathy steel price increases, it can be said of the spot price to upgrade directly to the higher futures prices.

钢厂顺势上调出厂价格，可以说现货价格的提升直接推动了期货价格的走高。

It is of great practical importance to study optimized schedule of futures power and day-ahead power for hydroelectricity corporations.

因此，进行水电公司期货电量计划及日前交易电量的优化研究具有十分重要的意义。

On the foreign exchange market,foreign currency is bought and sold for immediate or future delivery.

也称现汇交易，在外汇市场中进行的外汇现货交易或期货交易。

The basic concept of FOP can be summarized as to further optimize effective prescription according to the standard of curative effects and with the aid of modern science and technology and theories of traditional Chinese medicine.

其基本内涵可概括为：以确有疗效的中药复方为研究对象，以现代科学技术和传统中医药理论为技术支持，以该复方所治病证的药效响应为评价标准，以优化重组疗效更优的新复方为研究目的。

Ever since our world has been a world, native forests have been indiscriminately exploited by man.

自从我们的世界一直是世界原生森林被任意剥削人。