我国场外衍生品市场发展、挑战与策略  

Development, Challenges and Strategies of the OTC Derivatives Market in China

作　　者：王庆玉 陈小龙 

机构地区：[1]中国民生银行金融市场部

出　　处：《金融市场研究》2022年第12期38-42,共5页Financial Market Research

摘　　要：本文通过回顾我国场外衍生品二十余年的发展历史,结合国际经验和我国金融市场特点,从法律保障和支持实体经济两个方面提出问题,并在扩大参与者范围、利率与信用风险对冲、银行资产负债管理和扩展代理清算业务等几方面提出深化发展的改革策略建议。This paper reviews the development history of OTC derivatives in China over the past two decades and examines the international experience and the current characteristics of China’s financial market. The paper also identifies two problem areas: legal protections in the market and support for the real economy. It puts forward some reform strategies and makes suggestions for deepening the market’s development in terms of expanding the range of participants, hedging interest rates and credit risks, improving bank asset and liability management, and expanding agency clearing business.

关 键 词：场外衍生品 利率互换 信用违约互换 风险中性 

分 类 号：F832[经济管理—金融学]