What does virtual currency hedging mean

2. Humanity is a dynamic concept. In a general sense, for example, it is written in Cihai: "humanity refers to all kinds of cultural phenomena in human society". We know that culture is a symbol, value and norm shared by human beings, or a nation or a group of people. Symbols are the foundation of culture, values are the core of culture, and norms, including customary norms, moral norms and legal norms, are the main content of culture“ All kinds of cultural phenomena obviously include advanced and backward, scientific and ignorant, excellent and inferior, healthy and morbid
the meaning of modern humanity: the core of humanity is "people", people-oriented, caring, loving and respecting people. This is what we often call human care and life care. Human beings are the yardstick to measure everything. Among all kinds of rights in the world, only human rights are innate, inherent, inalienable and irreplaceable. Recognize people's value and respect people's personal interests, including material interests and spiritual interests
humanity, first of all, is a kind of thought, a kind of concept, at the same time, it is also a kind of system, a kind of law. Humanistic thought is the theoretical basis of humanistic system, and humanistic system is the realization of humanistic thought, the institutionalization and legalization of humanistic thought
as the name suggests, humanistic real estate refers to the development of buildings based on people-oriented and people-oriented

at present, green real estate, technology real estate and humanistic real estate are one of the development directions of the whole real estate instry. Only pay attention to environmental protection and technological innovation, the real estate instry can achieve sustainable development. As City builders, developers should not only simply build houses, but also inherit the perspective of urban civilization and develop real estate with humanistic spirit.

3. I don't quite understand what you said, but the most common and important way to hedge foreign currency is to use exchange rate futures to hedge foreign currency. For example, you need to hold us dollars for special reasons, but you are worried that the exchange rate of US dollars against RMB will fall in the future and lead to losses, You can sell the forward us dollar RMB exchange rate futures contract in the futures market, which belongs to the exchange rate futures. China has not yet, and it is estimated that it will not open in one or two years. If you want to really understand, you can first understand how the futures market works. Exchange rate futures belong to financial futures and financial derivatives. If it's an economics major, it's not hard to understand. I hope I can help you.. You can go to my Sina blog and search for coral cover on the Internet.

4. Hedging refers to the trading activity that regards the futures market as a place to transfer price risk, uses the futures contract as a temporary substitute to buy and sell commodities in the spot market in the future, and insures the prices of commodities that are bought now, sold later or needed to be bought in the future. The basic feature of hedging is that in the spot market and the futures market, the same kind of commodities are traded in the same quantity but in the opposite direction at the same time. That is to say, when buying or selling the real goods, the same amount of futures are sold or bought in the futures market. After a period of time, when the price change causes the profit and loss in the spot trading, the hedging will be realized, It can be offset or made up by the loss and profit of futures trading. Thus in & quot; Now & quot; And & quot; Period & quot; In order to minimize the price risk, a hedging mechanism should be established between the short-term and long-term. After all, the futures market is an independent market different from the spot market. It is also affected by some other factors, so the fluctuation time and range of the futures price are not necessarily consistent with the spot price; In addition, there are prescribed trading units in the futures market, and the number of operations in the two markets is often not equal, which means that the hedger may obtain additional profit or loss when writing off the profit and loss. Hedging business process 1. Buy Hedging: (also known as long hedging) is to buy futures in the futures market, and use the futures market long to guarantee the short position in the spot market, so as to avoid the risk of price rise On March 26, the spot price of soybean meal was 1980 yuan per ton. In order to avoid the possible rise of spot price in the future and increase the cost of raw materials, a feed enterprise decided to carry out soybean meal hedging trading in Dalian Commodity Exchange. At this time, the price of soybean meal futures contract in August was 1920 yuan per ton, and the basis was 60 yuan / ton. Therefore, the enterprise bought 10 August soybean meal contracts in the futures market. On June 2, he bought 100 tons of soybean meal at the price of 2110 yuan per ton in the spot market, and sold 10 soybean meal contracts at 2040 yuan per ton in the futures market to hedge his long position. From the perspective of basis, the basis increased from 60 yuan / ton on March 26 to 70 yuan / ton on June 2. Trading situation: March 26, spot market: soybean meal spot price 1980 yuan / ton; Futures market: buy 10 Contracts of soybean meal in August at 1920 yuan / ton. The base difference is 60 yuan / ton. June 2, spot market: buy 100 tons of soybean meal price 2110 yuan / ton; Futures market: sell 10 hands, August soybean meal contract: price 2040 yuan / ton. The base difference is 70 yuan / ton. Arbitrage results: spot market loss 130 yuan / ton, futures market profit 120 yuan / ton, a total loss of 10 yuan / ton. Net loss: 100 × 130-100 × 120 = 1000 yuan. Note: 1 hand = 10 tons. In this case, both the spot price and the futures price rise, and the profits in the futures market largely offset the losses caused by the rise in the spot price. Feed enterprises have achieved good hedging results, effectively preventing the risk caused by the rise of raw material prices. However, because the increase of spot price is greater than that of futures price, the basis is enlarged, so that the loss of feed enterprises in the spot market e to the increase of price is greater than the profit of selling futures contract e to the increase of price in the futures market, and the loss is still 1000 yuan after the balance of profit and loss. It is normal that this is caused by an adverse change in the basis. 2. Sell Hedging: (also known as short hedging) is to sell futures in the futures market, with short futures market to ensure long spot market, in order to avoid the risk of price decline For example: ring spring plowing, a grain enterprise signed a contract with farmers to purchase 10000 tons of corn at harvest that year. In July, the enterprise worried that the price of corn would fall by harvest, so it decided to lock the price at 1080 yuan / ton, so it sold 1000 contracts at 1080 yuan / ton in the futures market for hedging. By the time of harvest, the price of corn had 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 the company bought back 1000 futures contracts at this price to offset its position. The 130 yuan / ton earned by the company in the futures market is just used to offset the less collected part in the spot market. In this way, they hedge against the risk of adverse price changes[ [editor] hedging method 1. The selling period hedging of procers, whether it is the farmers who provide agricultural and sideline procts to the market, or the enterprises who provide copper, tin, lead, oil and other basic raw materials to the market, as the suppliers of social commodities, in order to ensure that they have proced and are ready to supply the market or are still in the process of proction, will make reasonable economic profits to sell commodities to the market in the future, In order to prevent the loss caused by the possible decline of the price in the formal sale, we can rece the price risk by hedging the selling period, that is to say, we can sell an equal number of futures as the seller in the futures market. 2. For the operator, the market risk he faces is that the price of the commodity will fall when it is not resold after the purchase, which will rece his operating profit or even make a loss. In order to avoid this kind of market risk, the operator can use the selling period to keep the value to carry on the price insurance. 3. For processors, the market risk comes from both buying and selling. He is not only worried about the rising prices of raw materials, but also about the falling prices of finished procts. He is even more worried about the rising prices of raw materials and the falling prices of finished procts. As long as the materials and finished procts needed by the processor can enter the futures market for trading, then he can use the futures market for comprehensive hedging, that is, to hedge the purchase period of the raw materials and the sale period of the procts, which can relieve his worries and lock up his processing profits, so as to carry out special processing and proction[ [editor] hedging strategy in order to better achieve the purpose of hedging, enterprises must pay attention to the following proceres and strategies when concting hedging transactions 1) Insist on & quot; Equal relative & quot; The principle of the law& quot; Equality & quot;, That is to say, the commodities traded in futures must be the same as the commodities to be traded in the spot market in terms of type or relevant quantity& quot; Relative & quot;, That is to say, to buy and sell in the two markets in the opposite way. For example, to buy in the spot market, to sell in the futures market, or vice versa 2) The spot transaction with certain risk should be selected for hedging. If the market price is more stable, then there is no need to hedge, hedging transactions need to pay a certain fee 3) Compare the net risk with the hedging cost, and finally determine whether to hedge 4) According to the short-term price trend forecast, calculate the expected change amount of the basis (that is, the difference between the spot price and the futures price), and make the timing plan to enter and leave the futures market, and implement it[ Basis is the price difference between the spot price of a certain commodity in a certain place and the price of a certain futures contract of the same commodity. Basis = spot price futures price. If not specified, the futures price should be the price of the futures contract close to the spot month. The basis is not exactly equal to the position cost, but the change of the basis is subject to the position cost. In the final analysis, the position cost reflects the essential characteristics of the basic relationship between the futures price and the spot price, and the basis is the dynamic index of the actual operation change between the futures price and the spot price. Although the change direction of futures price and spot price is basically the same, the range of change is often different. Therefore, the basis is not fixed. With the continuous change of spot price and futures price, the basis sometimes expands and sometimes narrows. Finally, e to the convergence of spot price and futures price, the basis tends to zero in the delivery month of futures contract. The change of basis is very important to the hedger, because the basis is caused by the inconsistency of the range and direction of change between the spot price and the futures price. Therefore, as long as the hedger observes the change of basis at any time and chooses a favorable time to complete the transaction, it will achieve better hedging effect, and even obtain additional income. At the same time, the change of basis is more stable than the futures price and spot price, which creates a very favorable condition for hedging. Moreover, the change of basis is mainly controlled by position cost, which is much more convenient than observing the change of spot price or futures price. Therefore, it is beneficial for hedgers to be familiar with the change of basis. The effect of hedging is mainly determined by the change of basis. Theoretically, if the basis does not change at the beginning and the end of hedging, the result must be that the profit and loss of the traders in the two markets are opposite and the quantity is equal, so as to achieve the purpose of avoiding price risk. But in the actual trading activities, the basis can not remain unchanged, which will bring different effects to hedging transactions[ [editor] hedging - hedging strategy of stock index futures 1. Sell stock index futures. If investors own stocks and predict that the stock market will fall, they can use the sell stock index futures contract to hedge and rece losses. For example: an investment institution has a stock portfolio with a value of 1.2 million yuan. At this time, the price of Shenzhen composite index futures is 10000 points. In order to avoid losses caused by the fall of the stock market, the institution sells a 3-month Shenzhen composite index futures contract for hedging. After a period of time, the stock market fell, the value of the stock portfolio owned by the investment institution dropped to 1.08 million yuan, and the price of Shenzhen composite index futures was 9000 points. The investment institution bought a Shenzhen composite index futures contract to close out its position. In this way: the loss in the stock market: 120000 yuan, the profit in the futures market: 100000 yuan = (10000-9000) points × 100 yuan / point (assuming that the multiplier of the Shenzhen composite index futures contract is 100 yuan, the same below) the final actual loss of the investment institution: 20000 yuan. From this example, it can be seen that the stock index futures contract reces the loss of the investment institution's simple investment in the stock portfolio. 2、 Buying stock index futures: if investors plan to buy stocks after a period of time, but predict that the stock market will rise in the near future, they can lock in the future buying cost of stocks by buying stock index futures contracts. Example: a fund management company expects that one of its institutional clients will apply for the fund in two months. If you buy a stock portfolio with this fund, the value of the portfolio is 950000 yuan. At this time, the price of Shenzhen composite index futures is 10000 points. At this time, the fund bought a 2-month Shenzhen composite index futures contract to lock in the cost. After a period of time, the stock market rose, the value of the stock portfolio that the fund plans to buy rose to 1.06 million yuan, and the price of Shenzhen composite index futures was 11500 points. Investors sold Shenzhen composite index futures contracts to close out their positions. Therefore: the loss in the stock market is 110000 yuan (the purchase cost is higher than two months ago), and the profit in the futures market is 150000 yuan = (11500-10000) points × 100 yuan / point investor's final profit: 40000 yuan. It can be seen from the example that stock index futures lock in the cost for investors to buy stocks after a period of time.

5. Hedging is to avoid the spot price risk and replace the price risk with the basis risk. If the enterprise adopts the basis transaction, it can fully hedge, otherwise the hedging effect will be affected by the change of the basis.
foreign currency position means the amount of foreign currency held.

6. Hedging has nothing to do with the appreciation of foreign currency. The choice of short-term contract or long-term contract depends on the ration of hedging.