【作者】 徐琼；

【导师】 张纯；

【作者基本信息】 湖南大学 ， 经济法， 2004， 硕士

【摘要】 在金融自由化与金融创新的浪潮中，国际金融衍生工具获得了长足的发展，成为企业规避风险、银行赚取利润的主要手段。然而，近几年国际金融衍生工具交易所引发的金融风波不断发生，又使得加强对金融衍生工具的监管的呼声渐高。金融衍生工具交易过程中存在过度投机等因素将导致金融衍生工具交易引发的各种风险，这其中包括微观风险和宏观风险。然而，国际社会对国际金融衍生工具交易的特殊性缺乏了解，习惯用普通的金融监管方法来对国际金融衍生工具进行监管，结果导致大量的金融衍生交易风险成为金融监管的漏网之鱼。国际金融衍生工具交易对金融监管法律提出的更新和更高的要求。金融衍生交易对金融监管的法律影响主要表现为金融监管的结构向综合性发展，金融监管制度出现重大创新，全球化监管已成为大势所趋。综合分析各国国内对金融衍生工具交易的监管法律体系和法律制度，可以将国内监管分为两种模式和三级监管体系。国内监管的模式分别为美国模式和英国模式，三级监管体系为政府、交易所和行业自律监管。在国际方面，对金融衍生市场的总体监管全球尚没有达成共识，但是，国际清算银行与巴塞尔委员会、国际证监联合会、国际会计准则委员会、欧洲联盟等一系列国际性、区域性组织纷纷采取了一些重大的国际性法律举措。借鉴其他国家和国际上对国际金融衍生工具交易的监管法律制度，作者试图构建我国的监管法律体系。我国金融衍生工具交易监管的法律的原则应包括公平、公正、安全等原则。我国的金融衍生交易的监管体系应该是以政府，行业，交易所构成的三级监管体系。我国金融衍生交易监管的具体监管法律制度的制定应包括金融衍生工具合约的设计制度、严格控制金融衍生市场准入的法律制度、资本充足的法律规定、信息披露法律制度、场内场外监管法律制度、国际合作监管等方面。更多还原

【Abstract】 In the tide of freedom of financial and the financial innovation, the international financial derivatives instruments are developing quickly. They have became the main methods to avoid the risks and to earn money . Nevertheless, the financial crisis made the financial supervisory became more and more urgent. The financial risks of international derivatives instruments can be divided into two parts. They are micro-risks which includes market risks and macro-risks which can destroy the effect of monetary policy. Because of lacking the knowledge of international derivatives instruments , most financial authorities use the common supervisory system to control the risks of financial derivatives. But they can’t get rid of the risks of international financial derivatives. In order to meet the demands of international derivatives instruments, the supervisory system should be improved and strengthened. And there is a tendency of international supervision cooperation in the world. Domestically, there are two models of supervision . They are called American model and English model. They supervise the international derivatives instruments through governments , market and self-discipline. Internationally, many international organizations developed different methods to control the risks of derivatives instruments. Adopted from foreign countries’ experience , the author intended to build the supervisory system of China. The principle law of supervision should include equality and safety. The government , the market and the financial organizations should all take part in the supervision. The measures strengthening the supervision of international derivatives instruments include: designing of exchange contracts , controlling the market entrance , maintaining the adequate capital, market supervision and international supervision cooperation , etc.更多还原