德银的铁矿石掉期.ppt

德银铁矿石对冲介绍 简单铁矿石掉期 德银的铁矿石掉期 贵公司打算在2008年12月1日购买1吨铁矿石。 贵公司希望支付的铁矿石价不超过$170/吨。 常见问题 使用期货市场避险的优缺点 (Exchange vs. OTC) 德意志银行的定价平台 Deutsche Bank’s precious metals business moved into overdrive in 2007. “The bank’s commodity expansion has continued on plan with the vision implemented two years ago,” says Ray Key, The bank’s London-based global head of metals. The bank’s strong balance sheet, credit rating and commodity credentials are evidence of why the business has been unaffected by the global banking crisis of the past 12 months. The bank’s strength in metals is its integrated platform. It can offer products from vanilla hedging to exotic structures, and to leverage off the complex risk business for highly structured investment products. “As an investment bank, we have a global reach to clients in most regions around the world, whether they be consumers, producers or investors,” says Key. “I think we’ve got the distribution platform of a commercial bank, but the product expertise, innovation and derivatives savvy of an investment bank.” 我们是“安全”的合作伙伴 （5年信用违约掉期价差） Disclaimer MARKETING MATERIAL This document is intended for discussion purposes only and does not create any legally binding obligations on the part of Deutsche Bank AG and/or its affiliates (“DB”). Without limitation, this document does not constitute an offer, an invitation to offer or a recommendation to enter into any transaction. When making an investment decision, you should rely solely on the final documentation relating to the transaction and not the summary contained herein. DB is not acting as your financial adviser or in any other fiduciary capacity with respect to this proposed transaction. The transaction(s) or products(s) mentioned herein may not be appropriate for all investors and before entering into any transaction you should take steps to ensure that you fully understand the transaction and have made an independent assessment of the appropriateness of the transaction in the light of your