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叶赫那拉坤坤 · 2020年05月01日

问一道题:NO.PZ2018062007000098

问题如下:

The derivative markets tend to:

选项:

A.

transfer liquidity from the broader financial markets.

B.

not reflect fundamental value after it is restored in the underlying market.

C.

offer a less costly way to exploit mispricing in comparison to other free and competitive financial markets.

解释:

C is correct. When prices deviate from fundamental values, derivative markets offer a less costly way to exploit mispricing in comparison to other free and competitive financial markets. A is incorrect because derivative markets tend to transfer liquidity to (not from) the broader financial markets, because investors are far more willing to trade if they can more easily manage their risk, trade at lower cost and with less capital, and go short more easily. An increased willingness to trade leads to a more liquid market. B is incorrect because it is likely (not unlikely) that fundamental value will be reflected in the derivative markets both before and after it is restored in the underlying market owing to lower capital requirements and transaction costs in the derivative markets.

能把三个选项都解释一下吗?

1 个答案

xiaowan_品职助教 · 2020年05月06日

嗨,爱思考的PZer你好:


A.从金融市场获取流动性,说反了,from应改为to

B.不反应其标的资产的价值

C.与其他金融工具市场相比,衍生品市场提供了一个便宜的方式去捕捉不合理价格


-------------------------------
虽然现在很辛苦,但努力过的感觉真的很好,加油!


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