加强市场监管 促进金融衍生品市场健康发展  

Enhance market supervision and promote healthy development of financial derivatives marke

作　　者：罗伯川[1,2] 

机构地区：[1]中国人民银行深圳市中心支行 [2]国家外汇管理局深圳市分局

出　　处：《中国货币市场》2009年第5期4-8,共5页China Money

摘　　要：文章认为金融衍生品是一把"双刃剑",既有避险功能,又有放大风险的作用,不能因为国际金融危机的爆发而停止金融衍生品的发展;文章指出应从完善金融服务实体经济、防范金融风险、维护金融稳定的角度继续发展衍生品市场,充分发挥金融衍生品市场的基本功能;并认为可从建立市场准入和风险救援等制度、控制金融衍生品的派生能力和杠杆比率、提高信息披露的透明度、加强一线监管和内部约束等方面进一步加强金融衍生品市场的监管,以促进其基本功能的有效发挥。This article believes that financial derivatives are a double-edged sword combining risk protection with risk-enlargement mechanism, and the international financial crisis should not keep us from developing financial derivatives. It points out that we should continue the development of the derivatives market to fully exert its functions in serving the real economy, protecting against financial risks and maintaining financial stability. The author suggests we enhance supervision of the financial derivatives market by establishing a market access system and a risk rescue system, controlling the derivative capacities and leverage ratios, increasing transparency of information disclosure, and enhancing front loaded supervision and internal control.

关 键 词：金融衍生品 市场监管 基本功能 

分 类 号：F832.5[经济管理—金融学] F203.9