第四部分为金融衍生市场风险分析及对不同保值方案的定量分析。
The fourth part, through empirical analysis, we should try to choose different kinds of financial instrument under different conditions.
很多公司，特别是信用等级不高的，已经被不愿意承担更多的风险的银行拒之于衍生品市场之外。
Many firms, especially those with weaker credit ratings, have simply been frozen out of the market for derivatives by Banks' reduced willingness to carry risk.
新工具的发明，像是复杂的衍生工具，通过确定风险被更好的定价，更广泛的分配，很可能使得金融市场在长期更加强健。
The creation of new instruments, such as complicated derivatives, probably makes the financial system stronger in the long run, by ensuring risk is better priced and more widely distributed.
《金融时报》解释称，这种风险在场外交易市场尤其普遍，而交易所开放式指数基金(etf)、外汇期权和多种大宗商品衍生品的通常进行场外交易。
The FT explains that this risk is particularly prevalent in over the counter markets, where ETFs, foreign exchange options and a number of commodity derivatives trade.
尽管它总是和危险打交道(在2007年的一次宣讲中，它吹嘘着其在奇异信用衍生品上的专长)，它通过诸如持有股票的方式使其所需要承担的“市场风险”几乎没有。
Although it flirted with danger (a 2007 presentation boasts of its expertise in exotic credit derivatives), it took little "market risk" -by, for example, holding securities.
现在他们可以：“信贷衍生工具的使用已经完全放宽了债务市场”，他说，“这已经使得银行在风险方面的形象有了极大的转变。
Now they do: “The use of credit derivatives has totally liberalised the debt market, ” he says. “It has created an enormous shift in the risk profile of banks.
有不同的方式来对冲尾部风险，但流行的是创造一篮子的在正常市场条件下表现不佳，但在市场暴跌的时候一飞冲天的衍生品。
There are different ways to hedge tail risk, but a popular one is to create a basket of derivatives that will perform poorly during normal market conditions but soar when markets plunge.
即是强行对银行持有的外汇衍生品设定上限，因为银行倾向于通过从国外过度举债以对冲那些市场风险。
It imposed ceilings on Banks' holdings of foreign-exchange derivatives, because the Banks tend to hedge those positions by borrowing too much from abroad.
第二个原因在于信用衍生产品的大量增长，它们给予投资者在国债市场抽样的能力，从而使得投资者只暴露于他们觉得有吸引力的精确风险之下。
A second reason is the massive growth of credit derivatives, which has given investors the ability to sample the debt markets so as to get exposure to the precise risks they find attractive.
有人认为房屋市场的崩溃随时会成为一个类似的推动因素，导致一类衍生品的诞生，以容许投资者对冲住宅地产的价格波动风险。
Some think that the housing meltdown is poised to be a similar catalyst for derivatives that allow investors to hedge against movements in the price of residential property.
但是四家清算所中的三家都告诉它说，他的衍生产品业务资本量太小，对整个市场可能带来太大的潜在风险。
But three of the four main clearinghouses told the bank that its derivatives operation has too little capital, and thus potentially poses too much risk to the overall market.
市场监管者或许不同意机构风险分析顾问克里斯多夫.威尔将未上市金融衍生产品市场的运作视为“恶魔行为”的言论。
The market's overseers may not agree with Christopher Whalen of Institutional Risk Analytics, a consultancy, when he describes off-exchange derivatives as an “act of Satan”.
他们还搞复合衍生产品，让客户赌金融市场的走向或者对冲复杂化的交易策略的风险。
They would also engage in complex derivatives that let clients bet on the direction of financial markets or let them hedge the risk of complicated trading strategies.
几名众议院成员对碳补贴市场表达了担心，怀疑它可能会导致跟其他市场里的衍生商品一样的风险。
Several House members expressed concern about the market to be created in carbon allowances, saying it posed the same risks as those in markets in other kinds of derivatives.
不论是直接的途径还是通过衍生工具，印度银行业对美国抵押市场、破产的和危困的金融机构的风险敞口都极为有限。
Indian Banks have very limited exposure to the US mortgage market, directly or through derivatives, and to the failed and stressed financial institutions.
他说：“金融市场的风险，包括衍生品市场在内，随时随地在接受私人交易者的监管。”
“Risks in financial markets, including derivatives markets, are being regulated by private parties, ” he said.
理论上，这些金融工具可以限制风险，并能避免资金问题出现。 但是事实恰恰与之相反，正是由于市场对各公司衍生品估值方式的疑虑才导致不确定性的增强，促使风险进一步蔓延。
Theoretically intended to limit risk and ward off financial problems, the contracts instead have stoked uncertainty and actually spread risk amid doubts about how companies value them.
此外，债务重组还可能产生数十亿美元信用衍生工具合约相关的支付，金融市场使用这些衍生工具来对冲希腊违约风险，或者围绕违约的可能性进行投机。
separately, the debt restructuring could also trigger payouts on billions of dollars of credit derivative contracts, used by financial markets to hedge against or speculate on a Greek default
除了市场风险，高盛也评估业务相对方拖欠贷款或衍生合同违约所带来的信用风险，以及流动性风险。
Besides market risks, Goldman also assesses credit risks, based on whether a counterparty might default on a loan or fail to honour a derivative contract, and liquidity risk.
个体通过金融衍生市场进行适当的交换，重新配置他们将来的收益索取权，调整各自面临的金融风险，将改善他们的状况。
Individuals make proper exchange through financial derivatives market and reassign their future revenue claim rights and adjust financial risks faced by themselves which improves their situations.
从发射点，以防范金融衍生工具的风险，因此，只有市场需求为市场所接受。
From the point of launch to guard against the risk of financial derivatives, so that only the market demand was accepted by the market.
衍生金融工具作为规避风险的有效工具深受金融市场交易者的青睐。
Derivational financial instrument is deemed to effective tool for eluding risks by trader in financial market.
文章对金融衍生品的有关概念、交易特点，对金融市场的影响以及风险控制方法进行了分析探讨。
This paper discusses some concerned conception of financial derivative securities its exchange features and its influences and risk control methods as well.
同市场观察员们一样，董事会成员们虽然意识到了次贷泡沫，但并非发现金融衍生证券产品中隐藏的风险。
Directors, like most market observers, were aware of the subprime bubble but failed to spot the risks in related derivative securities.
准确地为金融衍生证券定价是金融交易市场规避风险的迫切需要。
To precisely price the financial derivative security is imperative necessity of avoiding the risk in the financial market.
运用动态博弈理论、市场有效性理论、展望理论对衍生金融工具的信用风险、市场风险、操作风险的产生机理进行了经济学分析。
An economical analysis which USES Game theory, EMH and Prospect theory of the production mechanism about credit risks, market risk, and operation risk of the derivatives has been given.
与期货等衍生工具相比，期权的市场风险更为难以度量。
Compare with other derivatives such as futures, it's market risk is harder to tolerance.
与期货等衍生工具相比，期权的市场风险更为难以度量。
Compare with other derivatives such as futures, it's market risk is harder to tolerance.
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