论文部分内容阅读
衍生金融商品是从利率或债券、外汇汇率以及股票或股价指数等现货市场产品所派生出来的金融商品。1986年4月,国际清算银行在其综合报告中把衍生金融商品分为四种类型:(1)风险转移型衍生金融工具,如期权交易、期货交易、货币与利率互换交易等;(2)加强流动性型,如长期货款证券化、大额可转让存单等;(3)信用创造型,如票据发行;(4)股权创造型,如可转换债券、新股认购权债券等。
Derivative financial products are financial goods derived from spot market products such as interest rates or bonds, foreign exchange rates, and stock or stock index. In April 1986, the BIS divided its derivatives into four types in its comprehensive report: (1) risk-transfer derivative financial instruments such as options trading, futures trading, currency and interest rate swaps, etc. (2 ) Enhance liquidity, such as long-term loan securitization, large negotiable certificates of deposit and so on; (3) credit creation, such as the issuance of bills; (4) equity creation, such as convertible bonds, new stock options bonds.