In the long run, the information transmission function and the price discovery function will improve the effectiveness of the spot market.
从长期来看，其信息传递功能和价格发现功能有助于提高现货市场的有效性。
Therefore, copper, aluminum, soybean and wheat futures markets all have a certain price discovery function.
因此，铜、铝、大豆和小麦的期货市场均具备一定的价格发现功能。
Restricted by cash market, the conflict exists between the efficiency and the unbiasbility of the wheat futures market price discovery function.
受现货市场的制约，小麦期货市场价格发现功能有效性与无偏性存在矛盾。
This paper focuses on the intrinsic mechanism of the price discovery function and discusses the empirical results in the overseas securities market.
文章重点探讨了卖空机制价格发现功能的内在机理以及境外市场关于这一功能的实证结果。
The research findings: the long-run equilibrium relationship between futures prices and the spot price, but the price discovery function of wheat futures market is very weak.
研究结果显示：我国小麦期货价格与现货价格存在长期均衡关系，但是小麦期货市场的价格发现功能很弱。
So it has very important theoretical and practical value in the research of whether the non-ferrous metals futures market has price discovery function to help firms can hedge against risks.
因此，研究我国有色金属期货市场是否具备价格发现功能，能否使企业进行有效的套期保值和风险规避，无疑具有重要的现实意义。
The future contract which was born under the modern economic system, by its price discovery function and the circumvention risk function, occupies the main superiority in the commodity exchange.
现代经济体系下诞生的期货合约，以其价格发现功能和规避风险功能，在商品交易上占据主要优势。
The future contract which was born under the modern economic system, by its price discovery function and the circumvention risk function, occupies the main superiority in the commodity exchange.
现代经济体系下诞生的期货合约，以其价格发现功能和规避风险功能，在商品交易上占据主要优势。
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