衍生金融市场监管的理论发展与国际实践——兼论中国的选择

衍生金融市场在现代金融体系中的重要性和其独特的风险性,给金融监管带来了巨大的挑战,也给中国金融市场的改革提出了难题。事实上,关于衍生金融市场的监管思想和理念由来已久,相关理论也在近二十年中有了突破性的发展。更为引人注目的是,欧美发达国家对衍生金融市场的监管实践取得了很多成功经验,这对我国通过立法、制度创新和广泛合作构建多层次的衍生金融市场联合监管体系有很大的借鉴意义。

Theories and Practice on the Supervising of Financial Derivatives Market——With Discussion of the Choices of China

The importance and special risks of financial derivatives market make the supervisors face an unavoidable challenge.In fact,it has been for a long time when the thoughts and notions to oversee the derivatives market have emerged,and the relevant theories have made a great breakthrough in the past twenty years.Furthermore,some developed countries have got the experiences during their supervising activities.All of these inspire us to build up a multi-layer system that can effectively supervise the financial derivatives market through legislation,institution innovation and wide cooperation.