The paper discusses the advantages and disadvantages of different modes of the derivative warrants and stock options from the global point of view and it suggests that China should mainly adopt stock options as its choice in developing security market.
文章从全球视野出发,总结衍生权证与股票期权等市场模式的发展情况和优缺点,并在此基础上,提出了我国股票权证市场应当选择股票期权为主的发展模式等相关建议。
Therefore,three major structured products in Hong Kong derivative market,structured notes,CBBC and Derivative warrants are studied as examples in this paper.
本文以香港衍生品市场上三种主要结构性产品结构性票据、牛熊证和衍生权证为例,探讨了结构性产品的设计、特点、风险和定价,以现代期权定价理论为基础,以B-S和Merton两种期权定价为基础,根据市场价格经过校验得出模型隐含的参数,编程计算出两种定价模型下的理论价格,并将其实际价格和理论价格进行了比较,结果显示:Merton定价模型的效果要优于Black-scholes定价模型,说明香港市场的股票价格也可能受即时信息的影响,存在跳跃现象。
call spread derivative warrant
跨价衍生权证,跨价衍生认股权证
non-collateralized derivatives warrant
非抵押衍生认股权证
A Study on Financial Derivatives Warrant and Its Applications in Insurance Investment;
金融衍生品种权证及其在保险投资中的应用
Study on the Development of Financial Derivatives Market in China;
我国金融衍生产品市场发展研究——从股改权证透视衍生品市场的发展
A Research on the Fluctuation of Chinese Warrants Market--the Characteristics,Contributing Factors and Enlightenment of the Development of the Derivative Market;
权证市场的波动:特点、成因及对我国金融衍生品市场发展的启示
A Study on the Price Deviation from its Value in Chinese Warrant Financial Derivative Market;
我国权证类金融衍生品价格与价值偏离问题研究
The purchase or sale of a derivative security( such as options or futures) in order to reduce or neutralize all or some portion of the risk of holding another security.
指买入或卖出一种衍生证券(期权或期货)对冲部分或全部所持其它证券风险的行为。
Meta-property right,derived property right and right of modification of biogenetic resources;
生物遗传资源的元所有权、衍生所有权和修饰权
Legislation on Securities Derivatives & Revision of Securities Law;
证券衍生品种法制构建与《证券法》修改
Derivatives come in two forms: options and futures.
衍生工具有两种：期权和期货。
One of the simplest forms of a derivative is a stock option.
最简单的衍生工具形式是股票期权。
Study on Pricing of Derivative Securities under Stochastic Interest Rate Model;
随机利率模型下衍生证券定价的研究
(C) derivative products including, but not limited to, futures and options;
（C）衍生产品，包括但不仅限于期货和期权；
Evolution of US Supervisory Regime of Forex Derivatives;
美国外汇衍生品监管权限的演变及借鉴
Pricing of Derivatives Option with Stochastic Prices Volatility;
基于价格随机波动率的衍生产品期权定价
Index option-new development of China financial derivative market;
股指期权——中国金融衍生品市场的新发展
Risk Measure for European Derivative Securities Under Multiplicative Triple Tree Model
三叉树模型下欧氏衍生证券的风险度量
A Study on Hedging Strategies of Securitization Derivatives of Life Insurance Company;
寿险公司证券化衍生产品对冲策略研究