现代国际资本市场和投资银行(1).ppt

现代国际资本市场与投资银行(1);Total Investable Capital Market 全球资本市场总额 December 31,1998 (Preliminary);Largest Recent One-Year Real Stock Price Index Increases 各国股市最大一年涨幅;Largest Recent One-Year Real Stock Price Index Decreases 各国股市最大一年跌幅;Largest Recent Five-Year Real Stock Price Index Increases 各国股市最大五年涨幅;Largest Recent Five-Year Real Stock Price Index Decreases 各国股市最大五年跌幅;The Top 100 Economies and MNEs, 1998 (2-1) 全球前100名经济实体与跨国公司;The Top 100 Economies and MNEs, 1998 (2-2) 全球前100名经济实体与跨国公司;1972 Foreign currency futures 1973 Equity options 1975 Treasury bond futures 1981 Currency swaps 1982 Interest rate swaps Eurodollar futures Equity index futures Exchange-listed currency options 1983 Option on equity index Options on T-note futures Options on currency futures Interest rate caps and floors 1985 Eurodollar options Swaptions 1987 Compound options 1989 Futures on interest rate swaps Quanto options 1990 Equity index swaps 1991 Differential swaps 1992 Catastrophe risk insurance options 1993 Captions 1994 Credit default options 1996 Electricity futures 1997 Weather derivatives ;西方现代投资银行业务操作;美国证券市场的结构和管理;NATIONAL SECURITIES CLEARING CORPORATION (NSCC);股票交易流程及其会计处理;;A ranking of market makers’ share of trading volume: NASDAQ & BULLETIN BOARD MARKET SHARE 2Q 2000 ------------------------------------------------------------------------------------------------------ Volume(millions) Market share 1. KNIGHT TRADING 15,012 13.4% 2. SCHWAB CAPITAL MARKETS 11,919 10.6% 3. HERZOG HEINE GEDULD* 8,716 7.8% 4. SPEAR, LEEDS&KELLOGG** 6,121 5.5% 5. SALOMON SMITH BARNEY 5,468 4.9% 6. MERRILL LYNCH 4,722 4.2% 7. MORGAN STANLEY 4,459 4.0% 8. GOLDMAN SACHS 3,681 3.3% 9. SHERWOOD SECURITIES 3,602 3.2% 10. CREDIT SUISSE FIRST BOSTON 3,142 2.8% *Recently acquired by Merrill Lynch. **In talks to be acquired by Goldman Sachs. Source:AutEx/BlockData and Chase H&Q Research Knight/Trimark (now Knight Trading)