Esuselwe - ithuluzi emakethe esisemqoka

Nokho, ngenxa eguquguqukayo kanye multidimensionality yayo ahlobene emakethe linikeza amathuba kakhulu Izindleko nokwehlisa, umshwalense ingozi, kungase kubangele ezihlukahlukene ezihluzekile ngesikhathi sezinhlekelele. Kwaba amandla abo esisongela itholakala yokuntuleka ukulawula nemikhiqizo amavolumu ukukhula. Naphezu kwakho konke lokhu idumela ezingabazisayo, lezi kwezezimali kukhona isithakazelo iboshwe isikhathi eside. Esuselwe - Iyini? Kuyini "ukudla"?

Lisho ukuthini esuselwe izwi?

Ngo esuselwe English - is "etholakala". Futhi lokho kusho ukwakhelwa enjalo? Esuselwe - insimbi esuselwe zezimali. Ngamanye amazwi, kuba isibopho okuyiwona udinga ukubeka kwempahla ezihleli asenkulumweni esuselwe kuze kube isikhathi esithile. Futhi a esuselwe - insimbi wezimali lekusasa ukuthengiselana, izivumelwano ie amaqembu amaningana, okuyinto pre-ukuchaza imisebenzi namalungelo abo esikhathini esizayo maqondana amafa iyini imbangela yalokho.

Lokho ubheke amagama ahlobene of emakethe yamasheya?

Izisetshenziswa ezilethwayo lwezezimali - kuba, nge ncazelo, ikusasa futhi izivumelwano phambili, OTC nezinketho exchange-adayiswa, nemikhiqizo exchange-lwamasheya luzokwenziwa Swaps futhi Swaps ngokwabo.

Iyini imisebenzi nemikhiqizo?

Esuselwe - yesibambiso ukuthi wenza imisebenzi ethile. Ngokwesibonelo, isici esibalulekile hedging (umshwalense) kungenzeka angaphatheki izinguquko intengo yezimpahla esikhathini esizayo (okuyinto zihlanganisa isitokwe indices), yezimpahla enanini sokubolekwayo. Lona wonke ngokuyisisekelo nemikhiqizo ezimakethe zezimali. Uma sikhuluma hedging lezimpahla nemikhiqizo it - kuyinto amathuluzi abalulekile zokulawula ezivumela abakhiqizi ezinokuthengwa ukuthathelwa umshuwalense ngokumelene kungenzeka izinguquko enqabayo esizayo amanani ngemikhiqizo yabo.

Kungani-ke amathuluzi "kokunye"?

Naphezu eyinkimbinkimbi okusobala nemikhiqizo - kukhona izibambiso nge kahle elula ukuyisebenzisa. Zibizwa ngokuthi ama-derivatives ngoba ukwakheka amanani nemikhiqizo incike ushintsho ukubaluleka lwefa engaphansi, okuyinto amanga enkabeni yabo. Ngokwesibonelo, uma intengo legolide eshintsha ke intengo esuselwe Uyophinde unikezwe kuye. Yingakho kumele njalo sikhulume izwi kunoma yefa langaphansi othile uyalandisa noma enye into yokusebenza esuselwe zezimali.

Yiziphi izinhlobo nemikhiqizo?

Kunezinhlobo eziningana izinhlobo ezinkulu instrument yezimali.

1. Izisetshenziswa ezilethwayo lwemali kanye isitokwe izimakethe, okuyinto isivumelwano ukuthengwa nokudayiswa zezimali ezahlukene. Okuphoqelekile imfuneko - version ngemuva kwesikhathi esithile, okuyinto kuncike izinga lokushintshisana ukuthenga noma ukuthengisa zezimali, futhi esimweni emakethe yamasheya kukhona kwencika oqondile lwefa eziyinhloko kube isitoko. nemikhiqizo esinjalo singazisiza futhi ukuba kuqhutshekwe kuhlukaniswe ngezigaba ezintathu eziyinhloko: phambili / ikusasa, Swaps nezinketho. Eyokuqala kuncike ngqo amanani ikusasa amafa iyini imbangela yalokho. Swaps zincike isilinganiso intengo okwamanje ukuba intengo esikhathini esizayo. Izinketho - kusuka izinguquko ukubaluleka, kodwa ngezinga elincane kuka ikusasa naphambili. La maqembu, ngaphezu Swaps, ebizwa ngokuthi "amathuluzi main esuselwe".
2. Izisetshenziswa ezilethwayo isithakazelo. Leli thuluzi ubonakele sibonga destabilization kwezinhloso zenzuzo izinkathi zesikhathi esifishane zenzalo. Isithakazelo esuselwe - ithuluzi hedging isicelo yayo ngaphezu kwalokho kuthinta ukuhlinzekwa zezimali izikweletu izimakethe capital kanye nokwenzeka ukulungisa imithetho ethize inzuzo yenkampani esikhathini esizayo. Inqubo esetshenziswa kabanzi emakethe international bathole senzalo Swaps, ongakhetha "Flora" futhi "cap".
3. Credit Derivatives - kuba ehlelekile OTC kwezezimali, okuyinto ukwehlukanisa credit ingozi amafa ekudluliselweni ikusasa counterparty yabo. Lezi nemikhiqizo izibambiso uvumele umzuzi ukuba sithwale credit ingozi ku yezimpahla yisiboniso ohlangothini ngaphandle kwesidingo ukuthengisa kwempahla.