远期市场

人民币在岸远期市场和离岸NDF市场关系的实证研究

An Empirical Study on the Relationship between RMB Onshore Forward Market and Offshore NDF Market

本文选取不同期限的境内外人民币远期市场组合，采用ECM和BEKK模型分析了人民币远期市场的定价权归属及其稳定性问题。

This article selects different RMB forward market combination with the same maturity , adopts ECM and BEKK models to analyze the pricing power allocation and its stability of RMB forward markets .

印度监管机构远期市场委员会（forwardmarketscommission）奉国大党领导的联合政府之命，昨日暂停了马铃薯、豆油、橡胶及鹰嘴豆期货交易，暂停时间至少4个月。

The regulator , the forward markets Commission , acting under instruction from the Congress party-led coalition government , suspended futures trading yesterday in potatoes , soy oil , rubber and chickpeas for at least four months .

从外汇远期市场的走势可以判断出市场预期。

Market expectations can be gauged from the currency forwards market .

防范外汇风险的远期市场保值与会计处理

Forward Market Hedge and Accounting Handling to Avoid Foreign Exchange Risk

然后，我们会继续讨论期货市场和远期市场。

Then I want to move to futures markets and forward markets .

正因为这一理由，远期市场很少全由套利交易者组成。

For this very reason forward markets rarely consist entirely of hedgers .

人民币远期市场正再次发出悲观信号。

Forwards markets are once again flashing bearish signs for the renminbi .

人民币在离岸远期市场亦走软。

The renminbi weakened in the offshore forwards market .

本文以人民币外汇远期市场为研究对象。

The object of this study is the RMB foreign exchange forward market .

境内外人民币远期市场定价权归属问题研究

Research on the Pricing Power of RMB Forward Markets at Home and Abroad

远期市场和现货市场的电价和风险是不相同的。

The electricity prices in forward market and spot market are not the same .

目前境内外存在两个人民币远期市场。

There exists onshore forward market in mainland and offshore NDF market for RMB .

该方法将线路的输电权放在远期市场中和电量一起进行交易。

In the method , FTR of every line is sold in forward market like electricity .

人民币远期市场显示，未来12个月人民币将小幅贬值。

The forward market for Renminbi points to a small depreciation over the next 12 months .

从远期市场的走势看，预计人民币将进一步升值。

Forward markets project further appreciation .

远期市场肯定也是这么预期的：人民币不可交割远期合约价格显示，市场预计人民币兑美元汇率今年将升值11.3%。

Forward markets certainly expect as much : non-deliverable forwards imply appreciation of 11.3 per cent against the dollar this year .

从人民币离岸远期市场昨日的表现看，市场预计人民币到今年底仅将升值2.3%。

The renminbi offshore forwards market yesterday was predicting an appreciation of just 2.3 per cent by the end of the year .

过去，远期市场对人民币升值的预期上升，往往伴随着更多的热钱流入。

In the past , rising expectations for renminbi appreciation in the forwards market have tended to coincide with hot money inflows .

中国国家外汇管理局担心，投资者一直在利用国内人民币远期市场与离岸不可交割远期市场之间存在的价差。

Safe was concerned that investors have been exploiting pricing differentials between the domestic forwards market and the offshore non-deliverable forwards market .

与此同时，事件亦引致香港颇为大的不交收人民币远期市场大幅波动。

At the same time , the matter has also led to very sharp fluctuations in the fairly sizeable non-deliverable renminbi forward market in Hong kong .

首先回顾了我国农产品供应链体系的现状，其中包括现货市场供应链子体系、远期市场供应链子体系与期货市场供应链子体系。

This paper reviewed the agricultural products ' supply chains system in our country , including spot market , forward contract and futures based supply chains .

一大问题就是，货币市场已经偏离正常范围太远，远期市场显示，最早要到明年夏季才能恢复常态。

A big concern was that money markets had got so far from usual ranges that forward markets suggested normality would return next summer at the earliest .

人民币境内外远期市场的信息优势比较问题，则是讨论二者对人民币即期汇率未来走势的影响力的大小。

The comparative analysis of information superiority of NDF and DF markets aims to discuss their relative abilities to influence the future tendency of spot rate market of RMB .

研究境内外人民币远期市场间的联动效应，对发展和监管人民币衍生市场控制风险具有重要意义。

Its important to study the interaction between onshore and offshore RMB forward market , because it can help us to develop and regulate the RMB derivatives market steadily .

因此目前政府需要进一步加强境内人民币远期市场的建设，尽可能建立境内外远期市场通道。

Therefore , it needs to further strengthen the construction of forward foreign exchange market in domestic , as far as possible establish access between the domestic market and offshore market .

外汇远期市场作为主要的汇率避险市场，在抵消汇率波动对经济负面的影响方面发挥了重要作用。

Foreign exchange forward market as a major market for hedging exchange rate risk , it plays an important role for offsetting the exchange rate fluctuations ' negative impact on the economy .

交易商表示，有关中国将很快让人民币兑美元升值的猜测，引发离岸人民币远期市场交易量激增。该市场并不透明，但极具影响力。

Speculation that China will soon allow its currency to rise against the US dollar has triggered a surge of activity in the opaque but influential offshore renminbi forwards market , dealers say .

但人们预期的年升值幅度即期汇率与不可交割远期市场上1年期汇率之间的差价仍然维持在略高于区区3%的水平上。

But the expected annual pace of appreciation – shown by the difference between the spot rate and the one-year rate in the non-deliverable forward market – remains only just above 3 per cent .

从不可交割远期市场的走势来看（诚然，这个衡量标准有些人为色彩），市场预计未来12个月人民币将升值2%；几家经纪公司也持同样的看法。

The non-deliverable forwards market , admittedly a rather artificial measure , is pricing in a 2 per cent appreciation of the renminbi over the next 12 months ; several brokerages say the same .