The Theoretical Basis Of Financial Derivative Products And The Practice

World range within of financial crisis raised of economic crisis has let many national also no recovery past of prosperity, constantly doubled of financial lever let a Yuan money do has100Yuan money of thing, is also let regardless of is sovereignty currency or, product price or, are experience has shaking of ups and downs, credit was questioned, labor value is constantly with new of data measure, regardless of which while, economic crisis to people brings has disaster. Had to refers to various financial derivative products, like CDS, like futures transactions, these products achieved has ordinary people purchase mass product of wishes of while, also accompanied with huge of potential risk, in virtual financial products of behind and derivative out new of financial products, and risk of overlay is unthinkable of, once triggered, industry of chain effect will brings destruction of crisis, this first from theory of angle, using KYLE model on assets of proceeds distribution such a single period model for described, And assuming that the exogenous or endogenous noise traders and insider trading and market makers, logic and then gives pricing and pricing strategies of trading strategies and market makers, at last the solution technology. A large number of experiments, and empirical research shows that investors aren’t always rational cognitive decision making, at last the real case. And related factors.