otc市场概况-中英对照-.pptx

OTC Market Overview;OTC市场概况;Table of Contents;目录 执行摘要 当前市场环境 定义 OTC概况 场外交易VS场内交易金融衍生产品 产品利用情况 参与者 担保品 市场结构 交易流程 经纪商/交易所演变史和费用 结算和特别提款权 后交易处理 监管参与者和发展 机会领域 可能存在的机会 附录;Executive Summary;执行摘要;Current Conditions;当前市场环境;OTC Derivatives products are bilateral contracts;OTC金融衍生产品为双边合约;OTC Derivatives are traded across a wide variety of asset cl;OTC 金融衍生产品的交易资产类别很丰富;For all derivatives, most of the notional outstanding is in space. The turnover is more evenly split According to Tabb Group estimates, global notional turnover i evenly split between OTC and exchange traded derivatives;金融衍生产品的大部分名义价值总额处在OTC市场中，但名义价值;Turnover is more evenly split partially based on the nature underlying products;根据交易产品性质，名义价值交易量更为平均分布;Customization in the OTC markets leads to a wide range of pr uses within each category;由于OTC市场的合约可以自由定制，每个交易类别中都有很多产品;There is a wide array of participation in OTC derivatives ma;OTC 金融衍生产品市场的参与者类别众多;In Interest Rates the majority of notional outstanding is i of Financial Institutions;利率金融衍生产品的大部分名义价值总额掌握在金融机构手中;While in FX the notional outstanding is split between the de;外汇金融衍生产品的名义价值总额主要掌握在交易商和其他机构中;Collateral outstanding and exposure from OTC derivatives c to rise;OTC金融衍生产品的流通担保品和风险敞口继续增长;Source: ISDA Margin Survey 2012;Source: ISDA Margin Survey 2012;Summary – Current Conditions Demand for OTC products continues to rise, trading is spli across multiple asset classes and products The majority of notional outstanding is in OTC derivative turnover appears to be more evenly split between OTC and exchange traded derivatives Collateral needs are growing even as markets prepare for centralized clearing Collateral continues to take many forms but cash remains king;总结–当前市场环境 金融衍生产品需求不断增长，交易类型按照各种交易资产类别和产品划分 金融衍生产品的大部分名义??值总额处在OTC市场中，但名义价值成交量分布更为平均 随着市场向集中化结算发展，担保品需求稳步增长 担保品形式越来越丰富，但是现金仍旧是主要形式;Market Structure;市场结构;OTC Trades are bilaterally conducted with the assistance o;OTC交易通过经纪商的协调双边执行;Each participant in the OTC market has different needs and capabilities;OTC市场