如果您无法下载资料,请参考说明:
1、部分资料下载需要金币,请确保您的账户上有足够的金币
2、已购买过的文档,再次下载不重复扣费
3、资料包下载后请先用软件解压,在使用对应软件打开
金融创新(chuàngxīn)衍生产品策略DerivativeSecuritiesSpeculatorsandHedgersExample:WheatForwardsWheatForwardsArbitrageursWheatForwardsFuturesContracts-DefinitionFuturesPayoffsOptionContractsValueoftheputoptionatexpiration:Payofftoputowner=K-STifST<KPayofftoputowner=0ifSTKDerivativeStrategiesOptionsStrategies151617CoveredStrategiesProtectivePutCoveredCallCoveredCallSpreadsBullSpreadStraddleStraddleButterflySpread/问题(wèntí)Zero-costcollarInvestmentBanking:Innovation资产(zīchǎn)证券化特点(tèdiǎn)/资产(zīchǎn)证券化的主要种类///融资(rónꞬzī)的分配利息(lìxī)的分配发行(fāháng)动机出售(chūshòu)资产与证券化资产例子(lìzi)/例子(lìzi)/资产(zīchǎn)证券化的步骤资产(zīchǎn)证券化的步骤(续)中远集团的案例(ànlì):步骤中远集团的案例(ànlì):步骤(续)中远集团的案例(ànlì):现金流动中远集团(jítuán)的案例:现金流动CollateralizedDebtObligation债务抵押(dǐyā)债券抵押(dǐyā)贷款证券化CDOSpecialPurposeVehicle(SPV)Equity40MEquity20M/From:theWallStreetJournal/////////信用(xìnyòng)衍生品(Creditderivatives)市场(shìchǎng)参与者为什么使用(shǐyòng)信用衍生品?债券(zhàiquàn)分解资产(zīchǎn)互换(AssetSwaps)Swap定义(dìngyì)互换银行(yínháng)InterestRateSwapQuotations利率(lìlǜ)互换例子例子(lìzi)(续)AnExampleofanInterestRateSwapAnExampleofanInterestRateSwapAnExampleofanInterestRateSwapAnExampleofanInterestRateSwapAnExampleofanInterestRateSwapAnExampleofanInterestRateSwap外汇(wàihuì)互换的例子例子(lìzi)Aisthemorecredit-worthyofthetwofirms.Bhasacomparativeadvantageinborrowingin£.CreditDefaultSwap/CDSCDSCDSCDS主要(zhǔyào)风险CDS定价(dìngjià)高盛事件(shìjiàn)/事件(shìjiàn)背景(摘自高盛网站)高盛声明(shēngmíng)感谢您的观看(guānkàn)。内容(nèiróng)总结