中国金融衍生工具监管现存问题及改进方法

Existing Problems and Improvement Methods for the Supervision and Management of Financial Derivative Instruments in China

金融衍生工具是基于股票、债券、外汇、商品等基础金融工具发展而来的金融产品。目前,我国金融衍生工具的发展呈现出交易规模大品种多、交易集中、以政府监管为主的特点。由于信息不对称、交易机制不完善、监管配套法律不完善,金融衍生工具交易存在信用风险、流动性风险、市场风险、法律风险和操作风险。在分析风险成因的基础上,论文提出了相应的改进措施。论文的研究结论对促进金融衍生工具在我国发展具有重要意义。

Financial derivative instruments are financial products developed based on basic financial instruments such as stocks,bonds,foreign exchange,commodities and so on.At present,the development of China's financial derivative instruments presents the characteristics of large transaction scale,many varieties,centralized transactions,and government's supervision and management are the main.Due to asymmetric information,imperfect transaction mechanism and imperfect supporting laws of supervision and management,there are credit risk,liquidity risk,market risk,legal risk and operational risk existing in the transactions of financial derivative instruments.Based on the analysis of the risk causes,the paper puts forward the corresponding improvement measures.The conclusion of this paper is of great significance to promote the development of financial derivative instruments in China.