程序化交易及其风险分析  

Program Trading and Its Risk Analysis

作　　者：熊熊[1] 袁海亮[1] 张维[1] 张永杰[1] 

机构地区：[1]天津大学,天津300072

出　　处：《电子科技大学学报（社科版）》2011年第3期32-39,共8页Journal of University of Electronic Science and Technology of China(Social Sciences Edition)

基　　金：教育部新世纪优秀人才支持计划项目(NCET-07-0605);国家自然科学基金项目(70971096;70801043)资助

摘　　要：随着国内股指期货市场的推出,程序化交易逐渐进入国内广大投资者的视线。程序化交易的优势令人赞叹,围绕其风险的争议也使人畏惧。首先介绍了程序化交易的国内外现状和发展历程,然后回顾了国际上几十年来对程序化交易风险的争论,接着着重分析了我国发展程序化交易面临的风险并给出了相应的应对措施。With the launch of domestic stock index futures market,program trading gradually gets into the sight of domestic investors.Amazing advantages as it has,program trading also brings appauling dispute on its risk.At first,this paper introduces the domestic and foreign situation of program trading and the process of development,later reviews debates about risks of program trading from international scope for decades,then emphatically analyzes risks of program trading in China,and finally gives corresponding measures.

关 键 词：程序化交易 组合管理 期现套利 风险分析 

分 类 号：D523[政治法律—政治学]