澳洲雪梨科技大学论文代写：金融衍生品
澳洲雪梨科技大学论文代写：金融衍生品
为了应对不断增加的复杂性和金融市场的波动,衍生品已经成为流行。为了使市场参与者推测未来预期证券价格的变动和处理风险证券、贸易创造了各种各样的新的金融产品没有资产本身的直接贸易。承诺贸易或提供一个基础资产在未来的某个时间创建衍生品合约。在将来的一个固定的日期,联系呈现一方索赔的现金价值资产或基础资产琼斯(1991)。满足相应的负债是由另一方定界。金融衍生品的交易是通过票据交换所的中介系统,在有组织的标志像伦敦金融期货交易所(LIFFE),信用违约风险最小化和交换有更大的灵活性。没有义务双方了解对方;他们需要满足交换对交易的信誉。衍生品合约的基本目标是使交易者规避风险(在现货市场所面临的)。金融期货和期权衍生品的两种最流行的乐器。
双方在金融期货都致力于在商定日期出售或购买标的资产在未来设置价格。金融未来的收益可以解释的帮助下一个例子,一个农民担心关于小麦的价格波动。他肯定会出售特定数量的小麦在未来8个月(雷蒙2008)。它是通过出售或做空8月小麦期货对冲这种风险。标准数量的小麦在8个月交换将被包括在“未来”,价格固定在未来会被卖掉的那一天。
澳洲雪梨科技大学论文代写：金融衍生品
In response to the increasing complexity and volatility of financial markets, derivatives have become popular. In order to enable the market participants to speculate on future expected movements in securities prices and to handle the risks arising from trade in securities, a diverse range of fresh financial products have been created without direct trade in the assets themselves. A promise to trade or deliver an underlying asset in some future time is created in a derivative contract. At a fixed date in the future, the contact renders one of the parties a claim on the cash value of the asset or the underlying asset (Jones 1991). The corresponding liabilities are to be met by the other party as they are contractually bounded. The trade of financial derivatives is through the intermediation of the clearing house system, on organized marker like London Financial Futures Exchange (LIFFE), risk of credit default is minimized and there is more flexibility of exchange. There is no obligation for the parties to know one another; they are required to satisfy the exchange their creditworthiness for transacting. The basic aim of the derivatives contracts was to render traders to hedge their risk (faced by them in the cash market). Financial futures and options are the two of the most popular instruments of derivatives.
The parties under the financial futures are committed to sell or buy the underlying asset on an agreed date in future at set prices. Financial future’s gains could be explained with the help of an example wherein a farmer is worried regarding the fluctuation in the prices of wheat. He is certain to sell a specific quantity of wheat in the coming 8 months (Lemmon 2008). It is by selling or going short on 8 month futures in wheat that he could hedge against this risk. A standard amount of wheat to be exchanged in 8 months would be included in the ‘future’, at a price which is fixed on the day the future would be sold.
The parties under the financial futures are committed to sell or buy the underlying asset on an agreed date in future at set prices. Financial future’s gains could be explained with the help of an example wherein a farmer is worried regarding the fluctuation in the prices of wheat. He is certain to sell a specific quantity of wheat in the coming 8 months (Lemmon 2008). It is by selling or going short on 8 month futures in wheat that he could hedge against this risk. A standard amount of wheat to be exchanged in 8 months would be included in the ‘future’, at a price which is fixed on the day the future would be sold.
