论金融衍生产品的风险控制--金融衍生产品市场风险识别与监管法律机制的完善

金融衍生产品是以货币、债券、股票等传统金融产品为基础，以杠杆性信用交易为特征的新型金融产品。金融衍生产品保值性、收益性、全球性等特点充分满足了二十一世纪人们对金融投资高回报、高收益的追求。可是金融衍生市场繁华背后存在着巨大的监管漏洞，巴林银行破产、中航油巨额亏损等投资失败的典型案例都说明了在这个市场上，风险管理控制没有跟上其经济发展的步伐，这必然阻碍金融市场乃至全球经济的进一步发展。本文将以中国金融衍生产品市场为立足点，结合一些国际案例的教训，借鉴其他国家和地区的经验，从法律监管为切入点浅析金融衍生产品市场的风险控制，对我国金融衍生产品市场法律风险识别与监管法律制度的完善提出一些切实可行的建议。

On Risk Control of Financial Derivatives---The Improvement of Financial Derivatives Market Risk Identification and Legal Supervision Mechanism

Financial derivatives are financial products based on the traditional currency, bond, stock and so on and new financial products with the characteristics of leverage of the credit transaction. Financial derivative products are of hedging, profitability and globality and fully meet the twenty-first century people＇s pursuit of high return of financial investment. But there is a huge regulatory loophole behind prosperity of the financial derivative market. The typical cases of investment failure in Bahrain bank bankruptcy and China Aviation Oil huge losses are illustrated. In this market the risk management control did not keep up with the pace of economic development, which would hinder the further development of the financial markets and the global economy. This paper footholds Chinese financial derivatives market and combines with some international case lessons and learns from the experience of other countries and regions. It takes the legal supervision as the starting point of the financial risk of the derivatives market control and puts forward some feasible suggestions on legal risk product market recognition and regulation of China＇s financial derivatives to perfect the legal system.