场外金融衍生交易监管之新动向

New Trends in Over-the-Counter Finance Derivative Trade Regulation

从一些金融衍生交易较发达的国家的场外金融衍生品监管理论和实践来看,对于场外衍生品的监管,呈现以场外衍生品监管方式场内化为主,并伴随着场外与场内监管方式融合为辅的发展趋势。场外金融衍生品监管场内化趋势又以场内化的中央对手方结算为主,兼采提高场外衍生品合约的标准化和交易的透明度来降低场外衍生品交易风险的监管目的。

Based on our observations of the over-the-counter finance derivative trade （OTCFDT） regulations theories and practices in countries with developed OTCFDT, we believe that the regulations of OTCFDT is witnessing a trend toward integration of exchange-traded （ET） and OTC trades with the ET regulations in primal. The ET regulation of OTC trades lies primarily in central counter party settlement, with supplementary methods of raising normalization and transparency of OTC contract, as as to lower the OTC trade risks.