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苏·Xu · 2023年05月24日

衍生品

NO.PZ2021061002000058

问题如下:

Monte is an American capital goods producer that manufactures products domestically and supplies products to customers around the world. Recently, the company signed a commercial contract with a British company. The contract stipulates that the company will deliver goods to the company in three months and will receive payment in sterling at that time.

To hedge Monte’s financial risk under the commercial contract, which of the following statements about the most appropriate derivative market is accurate?

选项:

A.

Both the ETD and OTC markets are appropriate for Monte to hedge its financial risk.

B.

The OTC market is the most suitable because of its ability to customize contracts to match the desired exposure profile.

C.

The ETD market is the most suitable because it provides a standardized contract to match the required exposure profile.

解释:

中文解析

本题考察的是场外市场与场内市场的对比。

场外市场的特点是合约可以根据客户的需求进行定制化,因此可以更好的对冲风险敞口。

而场内市场合约都是标准化的,与客户自身的需求很难完全匹配。

所以对于该公司来说选择场外市场是合适的。

OTC是标准化的吧?但是同时也可以定制化,所以B是正确的。是这个理解逻辑吗?

1 个答案

Lucky_品职助教 · 2023年05月26日

嗨,从没放弃的小努力你好:


OTC是场外市场,是不标准的,合约要素都是双方谈判确定的~

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就算太阳没有迎着我们而来,我们正在朝着它而去,加油!

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