外汇期货

基于DCC模型的外汇期货交叉套期保值比率估计

Research on Optimal Cross-hedge Ratio of Foreign Exchange Futures Based on DCC Model

1972年5月，芝加哥商业交易所推出了历史上第一个外汇期货。

In May 1972 , the Chicago Mercantile Exchange launched the first foreign exchange futures .

企业如何运用外汇期货交易来保值

How do the Enterprises Use Foreign Currency Futures as a Hedge

外汇期货是金融期货的一种。

Futures is one of the types of financial futures .

您说过，他们可以作外汇期货交易购买美元。

As you said , they can buy the dollars forward to .

对于风险管理，本文采用了外汇期货、外汇期权、货币互换等金融衍生工具，同时也介绍了其它非金融衍生工具方法。

Besides derivative instruments , other approaches are also introduced for risk management .

外汇期货的产生很好地满足了其套期保值的需要。

The appearing of foreign exchange futures perfectly satisfies the needs of these hedgers .

单日掉期外汇期货合约

One day rolling currency futures contract

掉期交易中的汇价差额货币期货，外汇期货，汇率期货

Exchange rate differential currency futures

外汇期货的创始者是美国芝加哥商品交易所的国际货币市场。

The creator of foreign currency futures is the International Money Market of the Chicago Mercantile Exchange .

发展中国家外汇期货的推出对即期汇率波动的冲击效应&基于巴西外汇市场的实证分析

Impacts of the Introduction of Foreign Exchange Futures on Spot Exchange Rate : An Empirical Analysis of the Brazilian Experiences

为此，我们提出了组对冲套期保值模型，希望这一模型的提出能为在外汇期货市场上有套期保值交易需求的企业提供一些新的思路。

We hope this model could provide some new ideas for enterprises in foreign currency futures market to manage the risk .

本文从外汇期货交易的基本交易原理出发，浅析了企业该如何运用这种方法来进行保值的做法。

The essay deals with how the enterprises use this method as a hedge according to the basic transaction principles of the foreign currency futures .

随着银行对期权市场提供各种财政金融方面的服务，这一市场发展迅猛。，而外汇期货市场则显得越来越多余了，是不是这样？

With the development of the currency options market in treasury services provided by banks , the forward rate market is becoming anyhow redundant , isn 't it ?

芝加哥的另一家交易所是芝加哥商品交易所，从前主要经营农业品，现在发展到经营外汇期货。

Another Chicago-based exchange is the Chicago Mercantile Exchange , which originally traded mainly in farm products , but has branched out to trade in foreign currency futures .

自1972年芝加哥交易所开始外汇期货交易以来，包括期货、远期、掉期和期权在内的各种金融衍生品就层出不穷。

Since the Chicago Stock Exchange started the foreign exchange futures transaction in 1972 , there come out endless variety of financial derivatives , including futures , forwards , swaps and options .

例如，某公司知道将在一个月以后需要用某一种货币来支付一份账单，那么采用外汇期货交易，公司就能避免某些风险。

For example , if a company knows that will need a particular foreign currency to pay a bill in a month 's time , a forward deal enables it to protect itself .

在此基础上，详细介绍了外汇期货理论，阐述了套期保值理论的发展历程和未来发展趋势。

On the basis of analysis above , the paper also introduces some theories about foreign exchange futures in details , and gives a general glimpse of the hedge theories and its future development tendency .

但一份报告显示，越南5月的消费价格涨幅较上年同期高出25%，令越南盾在外汇期货市场的价格下跌，同时引发人们担忧将会出现金融危机。

But a report that consumer price inflation was25 % higher in May from a year earlier knocked down the value of the local currency in futures markets and set off worries about a financial crisis .

外汇期货合约是指协议双方同意在将来某一日按照约定的汇率买卖一定数量某种外币的可转让协议。

Foreign currency futures contract is a transferable agreement by which both sides will sell or buy a certain amount of a foreign currency at the agreed interest rate on a certain date in the future .

在实证部分，本文采用目前6种国际主要货币近5年内的外汇期货数据和汇率数据，通过保值效率的比较考察了6种不同套期保值策略的效率。

In the demonstration analysis , this paper uses the latest five years data of the most important six international currencies at present to review how six different kinds of hedge strategies perform in terms of hedge effectiveness .

但在1972年，梅拉米德率先启动了外汇期货合约，这是全球首个不以大宗农产品（如芝加哥商业交易所的猪肉或芝加哥期货交易所的谷物）为基础的期货合约。

But in 1972 , Mr Melamed pioneered the launch of the world 's first futures contract that was not based on an agricultural commodity such as pork bellies at the Merc , or grains at the CBOT : a future on foreign currencies .

该基金还从事利率、外汇和股票期货交易。

It also trades in interest rates , foreign exchange and equity futures .

金融市场包括货币市场，股票市场，债券市场，外汇市场，期货市场等。

Financial markets , including money market , stock market , bond market , foreign exchange market , futures market .

结合国际资本资产定价理论与外汇远期与期货合约定价理论，引入在承担相同风险条件下的收益率概念，探讨两国之间跨国风险套利的理论模型。

Combining the theory of International Capital Asset Pricing Model with theory of forward and future contracts on currencies , this paper introduces a conception of different returns under the same risk condition and discusses how to build a risk arbitrage theory model between two countries .

您是否曾经和外汇经纪人、商品期货经纪人上或者证券经纪人有过未决事宜、向其做出口头或书面抱怨行为？

Do you have a pending or have ever made a complaint , oral or written , regarding a past FX , commodity futures or securities broker .

您曾投资过以保证金形式缴付的产品吗，例如现货/期货外汇、外汇选择权或期货？

Do you have experience of trading margined product e.g. spot / forward FX , FX options or futures ?

目前国际上防范汇率风险的主要工具有远期外汇买卖、外汇期权、外汇期货和货币互换等。

The tools of risk management in the international market usually include forward contract , futures , options and swap .

一些行家认为，外汇期权市场发展起来，将在今后几年取代外汇期货市场。

Some experts say that the currency market may develop to replace forward contracts over the next few years .