中文摘要：

沪深300股指期货作为创新性金融衍生工具成交日益活跃,但因交易的高杠杆放大作用,噪声交易风险成为不可忽视的问题。该研究从行为金融学的噪声理论出发,结合沪深300股指期货两年来实际交易情况,对噪声交易风险进行深入分析。结果表明沪深300股指期货市场存在大量的噪声投资者,市场波动较高,噪声交易者暴露的风险敞口较大,加强噪声交易的风险控制至关重要。建议通过健全交易制度,培养投资者的风险意识来控制噪声交易风险。

英文摘要：

CSI 300 Index Future becomes a creative financial instrument with a large trading volume in Chinese financial market. However, the noise trader risk of CSI 300 Index Future is now a serious issue. Using behavior finance theory, this study analyzes the noise trader risk of CSI 300 Index Future systematically using the current trade data. The results show that there are a large number of noise traders in the market. It is important for the regulator to improve the transaction system and educate the investors to control the noise trade risk in a scientific way.