| In recent 20 years,the investment activities which take each kinds of financial derivation products as transaction methods become increasingly fiercely in the international investment markets。In 1972,the first foreign exchange forward contract was born in Chicago commodity exchange(CME),from this time,these forward derivation products are widely utilized by speculators even more the only success speculation tools in international speculation market because of its natural high lever and the ingenious transaction mechanism。But originally they are born as risk management tools and the methods to avoid the financial supervision。As a serious of malignant economical events happened,not only the events surprised the whole world,such as 1993 the Bahraini Bank event,1997-1998 year Southeast Asia financial crisis,in 2004 November 30 the Chinese Aviation Gasoline limited company went bankrupt,but also the financial derivation product's risk guard become the most concerned matter in international and financial theory research field and policy system delimitation。In January 2007,the wrld economics forum Davosi annual meeting was hold in Switerland,the meeting pay more attentions in flushes fund finance which can initiate the market crisis in possibility。But regarding our country,after the Renminbi exchange rate system reformation and we promit to loose the capital markets gradually,the demand for financial derivation trade system`s introduction and limitation for overseas investor`s indirect investment become increasely strong。The article under the practical demand background,through reviewing and analyzing the Southeast Asia financial crisis and such kind of classic cases,study the financial derivation`s utilization and function theory in international speculation transaction,and unifies our actual situation,tries to find out a effective,perfect risk guard and control mechanism... |
