期货头寸

芝加哥商品交易所集团（CMEGroup）表示：随着美国逼近债务上限，我们将继续监视流动性环境和适当的抵押品折价。该集团接受美国国债作为期货头寸担保

We will continue to monitor the liquidity environment and appropriate collateral haircuts as the US approaches the debt ceiling , said the CME Group , which accepts US Treasuries against futures positions

戴维雷德蒙德（DavidRedmond）于2008年2月被摩根士丹利（MorganStanley）的大宗商品部门聘用。他前夜隐瞒的石油期货头寸事实上获利了，但银行发现之后还是将他辞退了。

David Redmond , employed by the commodities team at Morgan Stanley in February 2008 , in fact made a profit from the positions in oil futures that he concealed overnight , but was nonetheless sacked by his bank after they discovered his actions .

此外，中国投资者持有大量大宗商品期货头寸，尤其是在上海期货交易所交易的贱金属。

In addition , Chinese investors have significant positions in commodities futures , especially base metals at the Shanghai Futures Exchange .

保证金指经纪公司收取的客户建立期货头寸的初始资金，在该部位平仓后返还。

Deposit is the initial outlay required by a broker of a client to open a futures position , returnable upon liquidation of that position .

最原始的套期保值策略就是1：1的套期保值，即持有与现货头寸数量相同，方向相反的期货头寸。

The most primitive hedging strategy is the 1:1 the hedging , namely hold spot and the same position , but opposite direction futures position .

提出了复合套期保值的概念，其基本原理是构造一个与原证券组合的风险暴露相反的期货头寸，用以规避全部或部分标的资产的风险。

The conception of compound hedging was put forward . The principle of compound hedging was to construct a futures position opposed to exposure risk and to hedge the full or part risk of the object assets .

从事大量原油投机交易的对冲基金为了在信贷危机中自卫，近日解除了使用大量借入资金的交易头寸，比如石油期货头寸。

Hedge funds , responsible for a large amount of the speculation in crude oil , have had to play defense in the credit crisis lately by unwinding trades that use a lot of borrowed money , such as oil futures bets .

该策略可以成功有效地减少企业在期货保值头寸上的亏损，降低企业的保值成本，帮助企业实现成功保值。

This strategy can effectively reduce the loss in the futures hedge position ; reduce the hedge cost ; and help companies achieve successful hedge .

如何确定最优套期保值比率是套期保值操作中的核心技术问题，所谓套期保值比率就是套期保值者持有期货合约头寸大小与相应风险暴露现货资产大小间的比率。

How to determine the optimal hedge ratio in hedge operation is the core technical problem . The so-called hedge ratio refers to the ratio of size of futures contractual position held by hedgers to the size of corresponding risk-exposed spot assets .

如果石油现货价格向上突破这一水平，看涨期权的卖方将被迫买入期货来回补头寸，从而进一步推高油价。

If spot oil prices rose above that level , the sellers of the call options will be forced to buy futures to cover their positions , further lifting oil prices .

将套保组合投资模式发展为套保与投机结合的模式，即投资部位由现货头寸+期货套保头寸转变为现货头寸+期货套包头寸+期货投机头寸三个投资部位。

The hedge portfolio investment mode extend to the mode of hedge combining with speculation : the invest position of spot position + hedge position has become spot position + hedge position + speculation position .

其次，随着未来股指期货合约品种的增多，投资者究竟应当如何选择期货合约种类和头寸来进行套期保值是非常值得研究的。

Second , with the increase in varieties of stock index futures contracts , it is very worthy of study on how should investors choose the types and positions of futures contracts to hedge .

股指期货保证金所涵盖的风险应指正常交易状况下所持期货头寸的损益，所以保证金不应被设计成为涵盖极端市场波动的机制。

Stock Index Futures margin should be covered by the risk that normal status under the futures positions held by the profit or losses , the margin should not be designed to cover the extreme volatility of the market mechanism .

方案二：在销售合同签订后，马上在期货市场上买入合同对应数量的铝锭进行套保，然后根据生产过程分批买入现货，再对应的分批平掉期货头寸。

The second case is that enterprise immediately hedge of purchasing the corresponding amount of aluminum ingot in the futures market after the sales contract is signed , and then buy stock in batches according to the production process , and then level off in batches corresponding futures position .

最小方差的套期保值交易策略认为套期保值实际上是对现货市场和期货市场的资产进行组合投资，套期保值者根据组合投资的预期收益和预期收益的方差，确定现货市场和期货市场的交易头寸。

The minimum variance strategy of hedging thinks differently viewing hedging as an investment portfolio in both current market and futures market . A hedger decides his position in both markets based on the expected return of the portfolio and its variance .