本文選題：信用違約互換 + 信用衍生品體系��； 參考：《遼寧大學(xué)》2017年碩士論文

【摘要】：債券做為金融市場中權(quán)益類投資中一種最為常見的投資工具,其重要性自然不言而喻。而信用違約互換是國外債券市場中最常見的用于轉(zhuǎn)移風(fēng)險的信用衍生產(chǎn)品,毫無疑問的是信用違約互換在風(fēng)險分配、轉(zhuǎn)移、管理以及提高市場效率方面有著不可替代的作用。2016年9月23日,中國銀行間市場交易商協(xié)會發(fā)布了修訂后的《銀行間市場信用風(fēng)險緩釋工具試點業(yè)務(wù)指引》,在此前的已經(jīng)發(fā)布的信用風(fēng)險緩釋合約和信用風(fēng)險緩釋憑證的基礎(chǔ)上,增設(shè)信用違約互換和信用聯(lián)結(jié)票據(jù)兩個新產(chǎn)品,至此中國也有了自己的信用違約互換,為資本市場提供了風(fēng)險管理的新工具。相較于國際交換和衍生品協(xié)會于1998年創(chuàng)立的標(biāo)準(zhǔn)化的信用違約互換合約,我國的信用違約互換起步較晚,所以借助國際上的成熟經(jīng)驗,對于我國信用違約互換的發(fā)展與信用衍生品體系健全將起到重要作用。隨著經(jīng)濟(jì)全球化進(jìn)程的不斷深入,中國自主的信用違約互換市場的完善對于加快我國金融市場建設(shè)意義重大。本文以信用違約互換市場的相關(guān)理論為基礎(chǔ),從信用違約互換的自身發(fā)展與特征起筆,結(jié)合最近幾年世界上的熱點事件,輔以其發(fā)展情況做出分析,歸納總結(jié)出一般規(guī)律,為我國信用違約互換的發(fā)展提出建議。
[Abstract]:As one of the most common investment tools in the equity investment in the financial market, bonds are of natural importance, and credit default swaps are the most common credit derivatives used in foreign bond markets to transfer risks. There is no doubt that credit default swaps are distributed, transferred, managed and improved in the market efficiency. There is an irreplaceable role in the September 23rd.2016, the China interbank market trader Association issued the revised pilot business guidelines for the interbank market credit risk release tool. On the basis of the previously released credit risk sustained release contracts and credit risk release vouchers, the credit default swap and credit connection tickets are added. According to the two new products, China also has its own credit default swaps, which provides a new tool for risk management for the capital market. Compared to the standardized credit default swap contract established by the international exchange and Derivatives Association in 1998, China's credit default swaps started late, so with the help of international mature experience, for me The development of China's credit default swap and the sound credit derivatives system will play an important role. With the deepening of the process of economic globalization, the perfection of China's independent credit default swap market is of great significance to speeding up the construction of our financial market. This paper is based on the related theories of the credit default swap market and from the credit default mutual. The development and characteristics of the change, combined with the hot events in the world in recent years, supplemented by its development, summed up the general rules, and put forward some suggestions for the development of credit default swap in China.
【學(xué)位授予單位】：遼寧大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2017
【分類號】：F832.51

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