期货市场交易成本对交易量的影响及降低交易成本的策略

来源期刊：中国有色金属学报1998年第1期

论文作者：高阳 杨富良

文章页码：187 - 190

关键词：交易成本 交易量 等比数列 乘数放大效应 规模经济

Key words：trading cost , trading volume , geometric progression , multiplier effect , scale economy

摘    要：从理论上就期货交易成本的降低对交易量的影响进行了定量研究，导出了交易成本降低对交易量有乘数放大效应的结论，即交易量＝交易资金/单位交易成本， 这为期货市场降低交易成本、 走规模经营之路提供了有效的方法和理论依据。 特别是针对我国期货市场现状，在对深圳有色金属交易所等进行深入调研的基础上，提出了如何降低交易成本、 增大交易量的若干策略, 这对我国期货市场， 特别是有色金属期货市场的发展有重要的参考价值。

Abstract: The influence of reducing futures trading cost on trading volume was studied quantitatively, the result showed that reducing trading cost will multiply trading volume in the futures market, namely, Q=Y/C, which provides effective methods and corresponding theoretical grounds to make futures markets reduce trading cost and run in scale economy way. Especially, according to current situations in China futures market, some suggestions on how to reduce trading cost and increase trading volume were put forward on the basis of investigating and reasearching carefully Shenzhen Nonferrous Metal Exchange and so on, it is of great reference value for the development of China futures market, especially nonferrous metal futures market.