The characteristics of standard operation policy ( SOP) and hedging rule ( HR) were compared when the two kinds of policies were applied into operation policy simulation for reservoir water-supply system during drought. 比较分析了标准运行策略及限制供水规则运用于干旱期水库供水系统运行策略模拟分析方面的特征;
S: This paper explains the nature of financial futures, hedging theory and the basic operation methods of hedging in financial futures market, and the basic risk in trading of futures and also analyses the change of basic risk to the effects of hedging. 论述了金融期货的内涵、金融期货市场中的套期保值理论、基本操作方法和期货交易中存在的基差风险以及基差的变动对套期保值效果的影响。
This paper does not consider the actual process of hedging transaction fees issue, the time-varying hedging process, the operation will frequently produce a large part of the transaction costs. 本文没有考虑实际套期保值过程的交易手续费问题,在时变的套期保值过程中,频繁的操作会产生一大部分的手续费用。
Although the improved model is of the existence of relatively higher operating costs, but larger funds, the cost of their operations can offset through better access to hedging income, so the significance of the operation is still done. 虽然改进模型存在相对较高的操作成本,但由于基金大多都是规模较大,因此其操作成本可以通过更好地获取套期保值收益来抵消,其操作意义还是存在的。
While in the hedging operation, the key point is how to determine the optimal hedging ratio. 而在套期保值操作中,最关键的步骤就是如何确定最优的套期保值比率。
The essence of hedging is through the operation of futures contracts to hedge the spot market in the futures market. 套期保值的本质是指通过操作期货合约来对冲将来在现货市场实际买卖时可能发生的价格风险,套期保值交易有对冲平仓和实物交割两种形式。
Meanwhile, enterprises in the corresponding hedging operation, should not be confined static hedging approach and should be combined with the dynamic hedging approach to hedging operations. 并且企业在进行相应套期保值操作时,不应只局限于静态的套期保值方式,应结合动态的套期保值方式进行套期保值操作。
Because the derive tools can be used in not only hedging risks but also using level to operation and with a lower cost of trading, enterprises in different countries used them increasingly in past twenty years. 由于金融衍生产品既可以用于规避风险,又具有杠杆操作及交易成本低的特点,各国企业对其的运用在过去20年迅速增长。