中文摘要：

文章利用线性分位数回归方法研究了沪深300股指期货的成交量、持仓量、与其价格波动率之间的关系，结果表明，一定程度内，成交量对价格波动率影响随着分位数逐步增加主要是先由小变大，再有大变小；持仓量对价格波动率的影响随着分位数增加，主要也是先由小变大，再由大变小。而当期货价格波动剧烈到一定程度时，成交量、持仓量的变化已很难再调整价格的波动。

英文摘要：

The article uses linear quantile regression method to study the relationship of futures trading volume, position quantity and the price volatility, the results show that, in a certain degree, along with the fractile gradually increases, the volume of price fluctuation turns from small to big, then from big to small; Position amount of price fluctuation rate influence with the fractile increases, turns from small to big, then from big to small. However when the futures price volatility is high to a certain degree, volume, position the quantity are already difficult to influent the price volatility.