场外金融衍生品市场功能型监管研究经济法学专业论文.docxVIP

Research Research on Functional Regulation of OTC Financial Derivative Market (Abstract) Major： Economic Law Speciality： Economic Law Author： Wu Jingshuang Supervisor： Professor Tang Bo The oTC flnancial derivatives have met the different needs of market participants for its features such as individualized contract，flexible transaction and slack regulation environment．It has been growing rapid since its birth and its scale is much bigger than the derivatives in exchange market．However，The characteristic of high risk and low transparency of OTC derivatives has been discovered with its development．In 1990s，there were a lot of losses in OTC market．In China the OTC market is just in its initial step，howeverits huge developing potential attracts the broadly attentions from both home and abroad．Especially in recent two years，there has been a new bigger demand for OTC derivatives in China,which makes developing the OTC market become top priority of country’S fmancial reforming． This thesis begins from the classical cases，using the cases，historical and comparative analyzing ways to research on the topic of the functional regulation on OTC Financial Derivative Market．This thesis consists of four chapters and adds up to 45000 Chinese characters． Chapter One defines the scope of the research．Through the review of the BT cases，this chapter analyzes the particularity of the OTC market regulation，which is the inevitable conflict between the end USerS and dealers．Dealers in OTC transactions often use their advantage over the end users to harm their interest．Thus this thesis 3 will will focus on how to build a supervision and regulation system to protect the end USeIS． Chapter Two comments on the regulation systems of OTC manet in America and Britain．Functional regulation can resolve the jurisdiction of derivatives effectively and avoid the regulation overlapping and vacuum．Frankly speaking’ functional regulation is to draw all the same financial function suppliers into th