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衍生金融工具基础法律问题研究 被引量:9

Legal Basics of Finance Derivation Tool
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摘要 作者在对衍生金融工具的概念和法律内涵进行讨论的基础上,分析了衍生金融工具与基础金融工具的本质区别,指出基础金融工具的本质属性在于投资性而衍生金融工具的本质属性在于风险管理,并进一步讨论了我国衍生金融工具市场法律规制的主要任务。 The writer analyses the crucial distinction between financial derivatives and basic financial instrument on the basis of studying the concept and legal nature of financial derivatives, points out that the essential attribute of basic financial instrument is to make the investment and the essential attribute of financial derivatives is the risk management. Then the article discusses what the main tasks of derivatives market legal regulation are.
作者 王旸
出处 《法学家》 CSSCI 北大核心 2008年第5期78-87,16,共11页 The Jurist
关键词 衍生金融工具 本质属性 市场规制 financial derivatives essential attribute legal regulation
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  • 1See Daniel P. Cunningham et al, An Introduction to OTC Derivatives, in Swaps and Other Derivatives in 1994, (PLI Corp. L. & Practice Course Handbook Series No. B4-7062, 1994) p.1.
  • 2Am. Stock Exch. v. Commodity Futures Trading Commission, 528F. Supp. 1145 (U.S.D.C.S.D.N.Y. 1982) .
  • 3Board of Trade of the City of Chicago v. SEC, 677 F.2d 1137, 1139 (7th Cir., 1982) .
  • 4Bankers Trust International PLC v. P.T. Dharmala Sakti Sejahtera et al., Queen' s Bench Division (Commercial Court) (Transcript), 19 October 1995.
  • 5Section 2 (1) of the Securities Act 1933.
  • 6Section 3 (a) (10) of the Exchange Act 1934.
  • 7FSA, sched 1, para. 7. 8. 9.
  • 8Companies and Securities Advisory Committee, Law of Derivatives: An International comparison (CASAC Research Paper) (Sydney, January 1995), p.1.
  • 9[美]弗兰克·J·法博齐,弗朗哥·莫迪利亚尼.《资本市场:机构与工具》.唐旭等译.经济出版社,1998年版,第13页.
  • 10Financial Law Panel, Transaction in Derivatives Legal Obligation of Bank to Customers: A Discussion Paper (London, Financial Law Panel, May 1995), p.9

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