当前国际场外衍生品市场监管的新动向

New trends of supervision in international OTC derivatives market

本轮金融危机充分证明:衍生产品的过度创新和滥用可能引发系统性风险。为避免危机重演,重振市场信心,美国、泛欧及主要国际组织纷纷就变革金融监管体系出台具体改革方案和监管建议。该文就当前国际场外衍生产品市场监管的新动向进行了整理,并针对我国场外衍生产品监管提出了相应的政策建议。

One lesson from the financial crisis is that the over-innovation and abuse of derivatives may cause systemic risks. The US, EU and other major ）nternational organizations have been issuing reform proposals on their financial supervision systems, in order to avoid a new crisis and regain market confidence. This paper summarizes new movements of derivatives supervision in the international OTC market, and offers some policy suggestions for financial supervision of China＇s OTC derivatives.