论Shibor运行效果及相关产品开发

An Analysis on Operation Effect of Shibor and Relevant Product Development

2007年1月4日,Shibor(上海银行间同业拆放利率)正式运行。经过一年多的实践,3个月以内的短端Shibor已充分反映了市场资金供求的变化,且Shibor在市场化产品定价中得到了广泛运用,其在货币市场的基准利率地位初步确立。根据国际经验和Shibor的运行情况,我国可以开发远期利率协议、利率期货等Shibor衍生产品。

Shibor（ Shanghai Interhank Offered Rate） was formally run on January 4, 2007. After one year of practice, short- term Shibor within three months has fully reflected the changes for market fund supply and demand, and Shibor has been extensively used in market - orientated product pricing, with a status of the benchmark rate for money market to be preliminarily established. In accordance with international experience and Shibor operation, such Shibor derivatives ean be developed as future interest rate agreement, interest rate futures, etc.