Swap - chii nemashoko nyore?

Dzokutengeserana pamusoro "Forex" inopa ruzivo mamwe mazwi. Mumwe wavo - "swap". Chii uye kuti chii, verenga mberi.

tsananguro

Swap - ndiko kutapurirana yakazaruka kwema kuburikidza usiku. Zvinogona kuva akanaka (accrual basa) uye kunaka (nyora-offs). More vachiwanzoshandisa oparesheni ichi, pakupera medium- uye refu kwema. Masikati, swaps havana mhosva.

Sezvo akaumba swap

weekday ose panguva 01:00 Moscow nguva yose yakashama kwema vari recalculated, kureva kutanga pedyo uye ipapo Re-akazarurwa. Nokuti mumwe nomumwe wavo zvikanzi swap kwakavakirwa mwero kuitwa refinancing. Zviduku chikamu muzana inopiwa akakurumbira vaviri (Dollar / euro, pondo / Euro uye zvichingodaro. D.). refinancing prices dzinoturwa gore. Asi chimbadzo swaps rinowanikwa zuva nezuva. Pakupera kwevhiki, "Forex" haasi kushanda. Saka, kubva Wednesday kusvikira China akapomera nekatatu vakadaro.

Chii chinonzi "swap" mumutauro pachena?

Kuti tinzwisise zviri nani musimboti wenyika swap, zvinokosha kubata muzvinashawo mashandiro. On the "Forex" akapa prices (mutengo reshiyo) Currency yezvinoita. Kana kutenga peya EUR / kwema JPI maviri kuitika panguva imwe chete: vakatengesa Maeuro nezviratidzo vakatengesa ari Japanese Yen.

Asi iwe unogona sei kutenga mari kuti haisi kuwanikwa, ndine azvidavirire madhora kana rubles? Mhinduro iri nyore - kushandisa swap. Chii? Ngatikurukurei muudzame chii akavhiyiwa anoteererwa apo muzvinashawo yokudhinda iri chinouraya bhatani "Open Order" pamusoro ezvinhu yapfuura muenzaniso.

1. Reserve Bank muJapan anozivisa chikwereti refinancing.
2. The zvichiguma mari pakarepo vaipanana kuti euros. Verengai haisi zvaitambidzwa pamaoko investor. Iye anoramba mubhangi. It -bereka mubereko.
3. The muripo pamusoro chikwereti kuna Bank of Japan anofanira kubhadharwa kubva mubereko chichiwanikwa pamusoro European bhengi. Kusiyana dziine date - ndiro kadhi swap.

Positive uye akaipa swap

Ngatitii investor akazarura refu nechinzvimbo pamusoro kweeuro / Yen peya. Kana kutengeserana kunoitika wokutanga mutariri afarire kweeuro (0.5%), zvichiteverwa kubvisa Yen mwero (0.25%): 0.5% - 0.25% = 0.25% - ndiyo yakanaka swap. Kana Yen zvazvingava kwaizova 1%, swap achava asina kunaka. Ndiro huru nhungamiro basa "Forex".

Zvakakosha kuziva!

Haugoni kuwana kana kurasikirwa zvose Purofiti kuburikidza swap. Chii? Large zvireruke, izvo kupa nevaichinja uye chinokosha Gengi nokufamba kuchaita adzikatidza nokuitika duku chimbadzo swap, kunyange kana chiri kunaka. Asi kuti vawedzere ayo nzvimbo chete nemhaka zvakanaka musiyano iri mwero refinancing hakuna zviripo. Nokuti kutyora mitemo "intraday" zvokutengeserana achafanira kubhadhara dhipoziti wako.

mhando

Also vaiona mari swaps, panewo chikwereti default swap (CDS). Kubva rokuti zviri pachena kuti oparesheni iyi chokuita urongwa chikwereti Exchange kwema mumamiriro ezvinhu ose default.

Zviri nyore, mbiri default swap - ane analogue kuti inishuwarenzi nokuda womunhu anomukweretesa. Kana kubhengi shoma guta iri kuronga kuti ape yakawanda zvikwereti yakavimbika nemhosva, anofanira vazvidzivirire kana vasiri nokuripira mari. Saka, kuwedzera kune chikwereti, iye anosaina chibvumirano pamusoro pangozi kudzivirira chevanorwara zvemari yakakura pasi mumwe chikamu. Kana anokwereta haridzokeri mari, akakweretesa achagamuchira muripo kubva nemamwe masangano.

The ichocho rinoitwa swap kwema. The mutengi anomhanya mukana asiri mutsividzo mari, uye mutengesi achida kubhadhara ave kubhadhara. Kurutivi wechipiri anopa zvose chikwereti kuchengetedzeka uye anogamuchira mari iri nhoroondo unozvipiwa chikwereti. Payment inogona imwe-nguva kana rakakamurwa akawanda nhengo. Mune imwe nyaya, mutengesi achamutsiva kusiyana magetsi uye aizviti kukosha vaite rechipiri - mutengi akatenga chinokosha.

zvakanakira CDS

The chikuru mukana kushanda ichi - hapana chikonzero kusika kuchengeterwa. In muenzaniso pamusoro apa, bhanga raifanira kuumba kuchengeterwa kana anokwereta defaults, izvo kuita zvikuru nomufambiro mamwe mashandiro. Insuring pangozi dzavo, mutengi anosunungurwa kubva kuva kutora mari kubva turnover.

CDS unokubvumira kupatsanura chikwereti ngozi nezvimwe uye nani kudzora navo.

CDS VS: inishuwarenzi

Nyaya kutengeserana pamusoro CDS zvinogona chero mutoro. Somuenzaniso, zvinokwanisika kuti inishuwarenzi ngozi vasiri pakukurukura mazwi. Funga muenzaniso.

Mutengi dzakanyorwa mutengesi kune imwe nyika chinotangira 80%. Delivery anofanira mukati memwedzi miviri. Yakareba, uye saka pane mukana nezvimwewo ezvinhu, kurasikirwa mari. Pakadaro, mutengi anogona inishuwarenzi ngozi yavo yokushandisa CDS.

Murayiro asingagoveri pakagadzwa reserves zvakadyiwa kudzivirira kuburikidza swaps. Naizvozvo, tinorasikirwa inishuwarenzi isingadhuri. Kuvimbika Mutengesi Anoongorora chete mutengi swap. Chii? Operating marezinesi havadikanwi. CDS kudzora regulator, exchanges, saka magadzirirwo ayo kwakabatana chokungoitawo mashoma. dziviriro mutengesi anogona kuva chero sangano kana munhu aine akakodzera nezvaanogona - makambani, mabhengi, mudyandigere mari, etc ...

CDS angashandiswa kunyange kana mutengi asina zvakananga vakaronga mukwereti. Somuenzaniso, kana kambani kuchaita kutenga zvisungo pamusoro musika dzisiri. Mugumisiro anokwereta is, uye ayo vanofungidzira pamusoro ndingangokuvara default yakaoma.

Swap pamisika dzakawanda zvinogona kushandiswa kunyange kana pasina chikwereti pangozi chaiyo. Muchiitiko ichi tiri kutaura pamusoro asiri kuitwa ne States (changamire ngozi). Tichingotarisa, unogona kutenga kudzivirira asiri kuripwa chikwereti, chibvumirano icho asati akagumisa, uye zviri haizivikanwi kana akagumisa. Asi kushanda maturo ari inishuwarenzi yakadaro haadaro.

CDS iri mari dambudziko

The itsva chishandiso pakarepo Akakwezva nevaya vanofungidzira. The musika yave iri kuwedzera, asi default haana kutarisirwa. Wadii kutora mukana mari "vakasununguka"? Zvinhu zvakachinja muna 2008. Banks vakatadza pabasa unonzi chikwereti uye vakaenda kusauka mumwe pashure perimwe. The wechishanu Kudeuka bhengi Bear Stearns muna US muna 2008 akatengeswa akava chezita Nemutengo, uye pokuwa Lehman Brothers anonzi kutanga basa chokutambudzika zvemari dambudziko.

Inishuwarenzi kambani AIG anonunurwa nehurumende US mari. Zvose rakapa swaps ($ 400 billion). Asi mabhanga aifanira kubvisa $ 22.4 billion. Sangano neimwe zvemari musi Wall Street yakanga panguva zvikuru zvinodiwa uye nokubatira CDS. State kutanga anongovangira kubatsira chikuru sangano - bhengi JP Morgan, asi kwete zvakananga, asi kuburikidza vesangano kuti vakatenga matoyi zvemari.

To vatengi ose CDS vakawana kugutsikana aizofanira kuparidza zvachose default makurusa US uye European mabhanga. Wall Street, Guta London vakangoisa havasisipo. Kunyange asati dambudziko, Uorren Baffet akadana nomukaka zvose "zvombo zvinoparadza." Pokuwa mari ichaita akanga kudziviswa chete nemhaka aizomupa paruzhinji mari. Pasinei zvose zvakaipira dambudziko, "bhomba» CDS havana putika, asi wakaratidzwa chete pacharo.

payakaipira CDS

All kubatsirwa ava musika murau iri kushanda kwete ukama. Wapiwa muitiro mutsva sungisa kudzora mari masangano, pamusoro kwenguva, vachava zvose ugorasika. The dambudziko 2009 akaita kusundwa ehurumende zviremera kuti adzokorore mitemo finregulirovaniya. Kunenge kuti Central Bank achasuma munhu fanira kuchengetedza kudzivirira Vatengesi.

Credit default swap asingadi kubatsira kugadzirisa dambudziko asiri kuzadziswa zvemari mitoro. In dambudziko kunowedzera uwandu defaults. It kunowedzera ngozi yokubatwa kusauka hakusi chete makambani asiwo mamiriro. Panguva dzakadaro, vatengi kuti swaps vari kuedza kuwana mari kubva vapemhi. Last kumanikidzwa kutengesa zvinhu zvavo. Izvi denderedzwa utsinye chete exacerbates dambudziko.

Bessvopovye nhoroondo

Kukosha refinancing prices kunokosha kufunga kana kuvhura nzvimbo kwenguva yakareba (2-3 masvondo). Muzviitiko zvakadaro zviri nani kushandisa bessvopovye nhoroondo. Urutakure kubva neimwe bhuroka. Zvisinei, pasina anomukweretesa prices kuripa nevaichinja dzokuwedzera mari.

mhedziso

Muchidimbu muchidimbu zvose pamusoro swap. Chii? Swap - ndiye musiyano iri mhindu prices of Central Bank, iro rinowanikwa zuva nezuva zvose akazaruka nzvimbo. Maererano akakurumbira nyika mari simba iri rinenge asingaoneki. Asi kana iwe uvhure refu nechinzvimbo pamusoro mari kunyika nyika rechitatu "zvekumwe", zviri nani kushandisa mari yacho bessvopovye.