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截至2009年底,全球场外衍生品名义价值高达625万亿美元,巨额场外衍生品市场给国际金融体系造成系统性风险,包括交易对手信用风险、传染性风险和流动性风险,引起国际社会广泛关注。目前,场外衍生品监管改革的国际框架不断推进落实,本文分析研究监管改革的整体框架、主要国家当前的最新进展以及落实中存在的问题,以期对我国参与有关国际规则的制定以及国内市场发展完善提供参考和借鉴。
As of the end of 2009, the nominal value of global OTC derivatives reached as high as 625 trillion U.S. dollars. The huge market for OTC derivatives caused systemic risks to the international financial system, including counterparty credit risk, contagion risk and liquidity risk, causing widespread international attention. At present, the international framework for OTC derivatives regulatory reform is continuously being implemented. This article analyzes and studies the overall framework of regulatory reform, the latest developments in major countries and the problems in its implementation so as to provide our country with reference to the formulation of relevant international rules and the development of the domestic market Improve and provide reference and reference.