国债期货交易

西方国家国债期货交易及其启示

National Debt Futures Transaction in Western Countries and its Inspirations

中国国债期货交易研究

Study On China 's National Debt Futures Business

第3部分美国国债期货交易风险控制的法律规制。

3rd part of American bond futures prompts sale risk control legal rules and regulations .

通过对基本理论的分析指出我国开展国债期货交易将要面临的风险。

Through to the elementary theory analysis pointed out our country develops the risk which the bond futures prompt sale is going to face .

目前只有经纪商、共同基金、私募股权公司以及散户投资者可以从事国债期货交易。这限制了成交量和该市场的效率。

Currently , only brokerages , mutual funds , private equity and retail investors are permitted to trade the futures , which has limited trading volumes and the market 's efficiency .

通过对我国目前国债期货交易风险控制法律体系的研究找出我国在风险控制法律体系上的缺陷。第5部分建立我国国债期货市场风险控制法律体系的构想。

Through at present the bond futures prompt sale risk control legal framework research discovers our country in risk control legal framework flaw to our country.5th part of establishment our country bond futures market risk control legal framework conception .

沪深300股指期货的正式交易揭开了中国金融期货重新发展的序幕，填补了我国1995年暂停国债期货交易后没有正式金融期货的历史空白。

The Shanghai and Shenzhen 300 stock index futures ' formally trading unveiled the prologue of the redevelopment of Chinese financial futures , and filled the historical blank of our country having no formal financial futures after suspended the treasury bond futures in 1995 .

1992年12月，我国也开始了国债期货的交易，当时的国债期货发展明显提高了国债的流动性，活跃了金融市场。

The development of Treasury futures can significantly improve the liquidity of treasury , active the financial markets .

此举标志着，美国市场监管机构对芝加哥主导美国国债期货合约交易业务的态度出现了转变。美国国债期货合约是使用最广泛的交易所交易衍生产品之一。

The move signals a shift in the approach of US markets regulators to the dominance by Chicago of US Treasury bond futures contracts , among the most widely used exchange-traded derivatives .

第三，在设计国债期货的交易规则时，应该按照期限分类设置国债期货品种，并采取交割月任一个营业日交割的方式。

Third , when design the treasury futures ' trading rules , we should set the varieties of treasury futures in accordance with the duration of classification , and also allow the delivery in any working day in delivery-months .

基准短期利率和德国国债期货95%的交易，会在合并后的db/nyse进行。

Db / NYSE would , have ended up with 95 per cent of trading in benchmark short-term interest-rate and German government bond futures .

利用美国国债期货进行的交易、或杠杆比率很高的利率掉期和抵押证券市场，很大程度上都要靠债券收益率维持在5%以下。

Trades using Treasury futures , or the highly leveraged interest rate swaps and mortgage securities markets , were largely dependent on bond yields staying below 5 per cent .

国债期货合约是国债期货交易的载体和媒介，它对国债期货交易做了最基本的原则规定，使该交易按合约规定的条款有序进行。

It includes contract design policy , price setting policy and other regulations . Treasury future contract is the carrying body and medium for treasury future transactions . It provides the basic regulation and definitions for treasury future trading , making the trading an ordered process according to contract terms .

8年后的今天，随着我国国债现货市场的发展，以及金融市场的不断完善，恢复国债期货交易，开辟国债期货市场已成为金融界讨论和研究的热点。

Eight years later , with the improvements in the national debt cash market and skills in governance , it has become obvious that we should reconsider the fundamental functions of national debt futures and study the possibilities of relaunching the market .

通过对美国国债期货风险控制法律体系基本情况的研究找出值得我国借鉴的经验。第4部分我国国债期货交易风险控制的法律法规体系现状及存在的问题。

Through discovers to the American bond futures stock risk control legal framework basic situation research is worth our country model the experience.4th part of our country bond futures prompt sale risk control legal laws and regulations system present situation and existence question .