Study on Speculation moderation in China's Futures Market

Through the choice of measurable index in futures market and empirical analysis of Basis and Turn over rate in speculation moderation,this paper judges that there are many risks events such as manipulation in China's futures market.Speculative risk is higher than foreign mature markets.There is excessive speculation.Many reasons cause excessive specula-tion,such as imperfect law and supervision,inadequate development of the spot market,shortage of hedging,etc.So,from the system,market environment and the trade rules,some pertinent suggestions in order to perfect our futures market are given.