Market-risk teams saw them as credit instruments, since the underlying assets were loans.
而市场风险小组认为它们是信用工具，因为这些产品的基础资产是贷款。
What we must take away from this is that CDS are toxic instruments whose use ought to be strictly regulated: Only those who own the underlying bonds ought to be allowed to buy them.
我们从中应该学到，CDS是一种有害的金融工具，其用途应该被严格规范：只有持有其所包含的债券的个人或机构才能购买。
Derivative instruments: a contract whose value changes as prices move in a related or underlying commodity or financial instrument.
衍生金融工具：一种合同，其价值随着有关或特定商品或金融工具的价格变动而变化。
Derivatives instruments are derived from underlying cash assets that can be bought, sold and traded in a similar way to shares or any other financial instrument.
金融衍生工具由现货市场的标的资产(underlyingcash assets)衍生出来，标的资产的交易方式如同股票或其他金融工具。
Derivatives instruments are derived from underlying cash assets that can be bought, sold and traded in a similar way to shares or any other financial instrument.
金融衍生工具由现货市场的标的资产(underlyingcash assets)衍生出来，标的资产的交易方式如同股票或其他金融工具。
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