Chinese version of CDs do you really understand imjpmig

Chinese version of CDS do you really understand? Sina fund exposure platform: letter Phi lags behind false propaganda, long-term performance is lower than similar products, how to buy funds pit? Click [I want to complain], Sina help you expose them! Source: Credit Debt: debt credit bond market research team of Yang Qinyu Tang Ge in September 23rd, the association China inter-bank dealers issued revised "the inter-bank market pilot credit risk mitigation business rules" (hereinafter referred to as the "business rules") and related products, guidance documents, and the simultaneous release of "Chinese OTC credit derivatives the basic terms of product trade and applicable rules (2016 Edition)", marks the official start China version of CDS. The innovation of credit risk slow release varieties is of great significance in enriching the risk management means, promoting the market risk sharing, promoting the efficiency of the financial system, and helping to reduce the leverage of the real economy. CDS related products is traditionally considered to be an important driving force caused by the subprime crisis, around its pricing and whether "naked" has been debated, but from the risk management function, the reasonable significance of short CDS. "Business rules" and supporting documents in product innovation, leverage, participate in the main stratification and other aspects to the new requirements, and define the standard terminology relating to contract custom, to clearly define the credit risk mitigation products counterparties liability and settlement obligations. Future financial institutions such as banks, brokerages and other types of financial institutions will be more involved in the development of CDS related products, the specific level of participation depends on the development of the market environment and regulatory policies supporting. First, the business rules, the introduction of the background and significance of the beginning of 2014, the credit risk of the bond market, the inter-bank bond market zero default phenomenon has gradually been broken. Based on this, the market has a substantial demand for credit risk mitigation tools that can effectively manage and disperse risks. In addition, the CBRC approved part of commercial banks to implement the new risk measurement, credit risk mitigation products release on the commercial bank’s capital function is expected to substantial ground, banking institutions helps to increase the demand for credit derivatives. Finally, the Commission has gradually liberalized securities companies and other market players to carry out the OTC derivatives business, especially in a number of securities companies approved the pilot credit risk mitigation tools to sell the business, the credit derivatives market participants gradually enriched the understanding of credit derivatives, are more mature, management capacity is rising, such as CITIC at the end of the 8 investment has issued a new period of CRMW. In this context, the introduction of business rules is a more appropriate time, but also in line with the expectations of participants in the market participants. From the product perspective, based on the previous CRMA and CRMW on the new CDS and CLN risk, offer a wider selection of dispersing and transferring for investors, by allowing investors to market-oriented manner stripping, transfer and restructuring risk, enhance investor risk management efficiency; Dealers Association issued "Chinese synchronization OTC credit derivative products trading basic terms and applicable rules (2016 Edition)" on.相关的主题文章: