1, translated as Hedging, refers to the trading activities in which an enterprise designates one or more hedging instruments to avoid foreign exchange risk, interest rate risk, commodity price risk, stock price risk and credit risk. , so that the fair value or cash flow of the hedging instrument changes, and it is expected to offset all or part of the fair value or cash flow change risk of the hedging item. In order to protect the income and lock in the cost in the process of currency conversion or exchange, the practice of avoiding the risk of exchange rate changes through foreign exchange derivative transactions is called hedging. \x0d\\x0d\2。 Specific hedging measures: \x0d\ a. Selling hedging \ x0d \ Selling hedging is a trading method of selling contracts equivalent to the spot quantity in the futures market in order to prevent the risk of falling spot prices during delivery. Usually when farmers try to stop harvesting, crop prices will fall; The mine mainly prevents the price from falling after mining; A hedging method used by traders or processors to prevent the price of goods from falling when they are bought but not sold. \x0d\ For example, during spring ploughing, a grain enterprise signed a contract with farmers to buy 65,438+00,000 tons of corn at harvest time. In July, the company was worried that the price of corn would fall when it was harvested, and decided to lock the price at 1080 yuan/ton, so it sold 1080 yuan/ton in the futures market. \x0d\ At harvest time, the price of corn really dropped to 950 yuan/ton, and the enterprise sold the spot corn to the feed factory at this price. At the same time, the futures price also fell to 950 yuan/ton, and enterprises repurchased 1 1,000 futures contracts at this price to hedge their positions. The 1.30 yuan/ton earned by the enterprise in the futures market is just used to offset the part that is undercharged in the spot market. In this way, they hedge to avoid the risk of adverse price changes. \x0d\\x0d\B, buy hedging \x0d\ buy hedging refers to a hedging method in which traders buy futures in the futures market first, so as not to cause economic losses to themselves when buying spot in the spot market in the future. This practice of hedging the losses in the spot market with the profits in the futures market can fix the forward price at the expected level. Buying hedging is a common hedging method for investors who need spot but are worried about rising prices.