即期市场

人民币NDF市场与境内即期市场的相关性研究

Research on the Relevance between NDF Market and Spot Market

NDF合约的交易量、流动性对其与即期市场的互动关系有一定的影响，但不是决定性的。

Trading volume and liquidity of the NDF market have a certain effect on the interactive relationship with spot market , but not decisive .

航运相关参与者可以通过把握国际干散货FFA市场与即期市场的相关性及波动性的相关规律，为制定套期保值与市场交易策略提供-定的参考。

Through the relevant laws to grasp the correlation and volatility of bulk FFA market and the spot market , the international dry , help participants to provide certain reference for shipping .

长期租船费异乎寻常地高于即时租船费，是因为业内预期即期市场将会复苏。

Long-term charter rates are , unusually , higher than those in the spot market because of expectations that the spot market will recover .

此后，境外持有的人民币数量迅速增长（尤其是香港），离岸即期市场的每日交易额达到大约30亿美元。

The pool of renminbi held abroad has grown very quickly since then , especially in Hong Kong , and daily trading volume in the offshore spot market has reached about $ 3bn .

不过，交易员们表示，自今年8月以来，这种干预已从国内即期市场（覆盖日常交易）扩大至包括香港的离岸人民币市场，以及在岸和离岸期货市场。

Since August , however , such intervention has expanded from the domestic spot market , which covers daily transactions , to include the offshore renminbi market in Hong Kong , as well as both onshore and offshore futures markets , traders say .

同时，FFA的远期运费市场与干散货即期运输市场之间由于其自身的依存性，二者的运费价格总存在某种相关的内在联系，通过研究FFA可以预测实体市场的价格。

Meanwhile , because of inter-dependence between future freight transport market of FFA and the spot markets of dry bulk , the two prices have internal relations , we can predict the price of spot market through the study of FFA .

人们可以在即期外汇市场上进行套期保值或投机。

One can either hedge or speculate in the spot market for foreign exchange .

但由于流动性成本的存在，承诺贷款的利率要高于即期信贷市场和债券市场的利率。

But due to the liquidity cost , the interest rate on commitment loans is high relative to spot credit loans and debt market loans .

在即期信贷市场和债券市场决定企业契约选择的主要因素是两个市场贷款资金的可得性。

We also find that the availability of the loans in the market determines the firms ' choice between the spot credit market and the debt market .

非银行金融机构符合以下条件的，可以向交易中心申请会员资格，进入银行间即期外汇市场交易。

Non-banking financial institutions meeting the following criteria can apply for membership at the Center and , if approved , deal with proprietary transactions in the foreign exchange spot market .

外汇市场由银行的外汇交易员和经纪人组成，分为两大部分：即期交易市场和远期交易市场。

The Foreign Exchange market consists of the exchange dealers of the banks and the exchange brokers . It is made up of two sections : the spot market for spot transactions , and the forward market for forward transactions .