贸易融资-NDF组合产品在企业财务中的运用

贸易融资-NDF组合产品是通过贸易融资和NDF交易的组合运作实现对外支付美元，并从中获得收益。该产品能够实现将远朔汇率波动带来的贸易融资损益和NDF交易损益逆向对冲，因此可以有效避免汇率波动给企业带来的市场风险，使收益的获得具有稳定性。但由于产品设计的复杂性以及各环节联系的紧密性，使得产品操作具有一定的前提条件。财务部门在操作过程中必须加强内部控制，避免由操作失误产生的风险。同时，该产品也具有一定的局限性，在人民币升值预期下降，远期、即期汇率差缩小，银行头寸紧张、融资成本上升的情况下，会使得产品的获利空间缩小，甚至不存在获利空间。

The Application of Trade Financing-NDF Production in Enterprise Finance

Trade financing-NDF production is to realize to pay dollars to foreign countries by their trading and get profits from the process.The production can counteract the income and loss from trade financing and NDF.So the corporation can get certain profit from the production and avoid the risk of money market.But because of the complexity of the production,the corporation must have some qualification.The financial department in corporation must reinforce the internal control to avoid the risk of operation.And the production have some localizations,when the anticipation of demos increase in value descends,the difference between forward and sight exchange rate reduces,or the cost of financing increases,the profit of the production will decrease even vanish.