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Abstract Based on the daily data of soybean meal and other futures contract prices in Dalian Commodity Exchange from March 2013 to December 2018, the effect of soybean meal options listing on price fluctuation clustering of futures market were analyzed using GARCH model and synthetic control method. Results showed that the price fluctuation of soybean meal futures had not been greatly affected in the early stage of soybean meal options listing, but the inhibitory effect of soybean meal options on the clustering of soybean meal futures price fluctuation gradually appears over time. Therefore, relevant departments should strengthen the linkage construction of futures market and options market, orderly reduce the threshold of options market transactions, and better play the function of futures and options market price that to discover and avoid risks.
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Received: 15 July 2021
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2021, Vol. 34 
