Hedging at the stocks index futures contracts

Since the mid-terms of the 1970s, the abandonment of the Bretton Woods system, the high inflation rates and interest rate fluctuations that occured after the fluctuation of prices have caused in the increase of the financial risks. Furthermore, the developments in the technology and the communication has made the risk transfer among the countries easier. In order to balance the increasing risks, new instruments have been searched. Future Contracts which have been processed in the future market have formed the most important part of these new instruments. The increase in the demand of the these instruments which have been processed in the future market day by day has caused the increase in the traded value and the number of the members.The purpose of this thesis, titled ?Hedging at The Stocks Index Futures Contract? is to search whether the preservation of the risks with the help of the Stock Index Future Contract have been obtained (or not), and to determine the correlation between them. While this purpose is being performed, the values of the VOB- İMKB 30 Contracts will be used.The method which is used to achieve this purpose, will try to determine the usage of these purpose and the general features of Stock Index Futures Contract and will try to explain the hedging strategies, to determine the risks and primarily to examine the process and the structure of the future market. In the final part of the study, it will be tried to search whether the portfolio and Stock Index Futures Contract will be hedged or not. In addition, it will be also tried to determine the profit or the loss obtained when the investor uses the Stock Index Futures Contract .Key words: Stock Index Futures Contracts, Hedging, Futures Markets.