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简述金融现货交易与金融期货交易的区别。

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金融期货交易指以金融期货合约为交易对象的期货交易。金融期货交易与金融现货交易的主要区别如下:

1)交易对象不同。

金融现货交易的对象是某一具体形态的金融商品,它是代表着一定所有权或债权关系的股票、债券或其他金融商品,而金融期货交易的交易对象是期货合约。

期货合约是由期货交易所设计的一种对指定金融商品的种类、规格、数量、交收月份、交收地点都作出统一规定的标准化书面协议。

2) 交易目的不同。

金融现货交易的首要目的是为了获得价值或收益, 这要通过为生产和经营筹集必要的资金或为暂时闲置的货币资金寻找生息获利的投资机会来实现。金融期货交易的主要目的是套期保值,即为不愿承担价格风险的生产经营者提供稳定成本的条件,从而保证生产经营活动的正常进行。

金融期货的交易价格是在交易过程中形成的,而且实际上这个交易价格是金融现货的未来价格,这相当于在交易的同时发现了金融现货标的未来价格,因此,从这个意义上看,期货的交易过程也就是价格的发现过程。金融期货交易的这一特点,导致了在金融期货交易过程中蕴藏着巨大的投机获利的机会。

3) 结算方式不同。

金融现货交易通常以证券与货币等金融商品的转手而结束交易活动。而在金融期货交易中,仅有极少数的合约到期进行实物交割,接近98% 的期货合约是通过做相反交易实现对冲结算的。


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