槓桿交易監理創新的國際經驗介紹 Introduction to the New International Experience of Supervising Leverage Trading
本文綜述了美國、新加坡、英國、澳洲，在槓桿交易產品定義上的差異性。本文發現我國的槓桿交易法規設計上主要參考美國經驗，而在實際運營中則採國際通用，以期貨商兼營槓桿交易商的方式。在監理發展上，我國的槓桿交易商環境相對自由，並無嚴格的槓桿倍數限制；而在槓桿交易產品的開發上，由於我國不允許做本幣以及和中國大陸資本市場連結的槓桿交易產品，因而較其他國家保守。這使得我國槓桿交易商在產品開發上，除需結合本國實體經濟需求外，也必須與其他國家既有優勢產品作差異化區別，以滿足國內業者使用槓桿交易產品進行避險以服務實體經濟的需求。 This article summarized the definition di...
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| Format: | Article |
| Language: | zho |
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School of Law, National Chiao Tung University, Taiwan
2021-03-01
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| Series: | 交大法學評論 |
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| Online Access: | https://lawreview.nctu.edu.tw/%e6%a7%93%e6%a1%bf%e4%ba%a4%e6%98%93%e7%9b%a3%e7%90%86%e5%89%b5%e6%96%b0%e7%9a%84%e5%9c%8b%e9%9a%9b%e7%b6%93%e9%a9%97%e4%bb%8b%e7%b4%b9/ |
| _version_ | 1818774215113834496 |
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| author | 邵之雋 Jy-Juinn Shaw |
| author_facet | 邵之雋 Jy-Juinn Shaw |
| author_sort | 邵之雋 Jy-Juinn Shaw |
| collection | DOAJ |
| description | 本文綜述了美國、新加坡、英國、澳洲，在槓桿交易產品定義上的差異性。本文發現我國的槓桿交易法規設計上主要參考美國經驗，而在實際運營中則採國際通用，以期貨商兼營槓桿交易商的方式。在監理發展上，我國的槓桿交易商環境相對自由，並無嚴格的槓桿倍數限制；而在槓桿交易產品的開發上，由於我國不允許做本幣以及和中國大陸資本市場連結的槓桿交易產品，因而較其他國家保守。這使得我國槓桿交易商在產品開發上，除需結合本國實體經濟需求外，也必須與其他國家既有優勢產品作差異化區別，以滿足國內業者使用槓桿交易產品進行避險以服務實體經濟的需求。
This article summarized the definition differences of leverage trading between U.S., Singapore, U.K. and Australia. We discover that our design of regulations on leverage trade is primarily based on U.S. experience, yet international standard is adopted in the actual operation, futures dealers acting as leverage traders. In terms of the development of supervision, our trading environment for leverage has relative freedom without a strict limit on leverage’s multiples. In terms of leverage trade’s product development, it is more conservative than other countries since our country forbids creating leverage products that link our currency to Mainland China’s capital market. It forces our country to combine the needs of our economy and to create differentiation from other countries’ featured products in the leverage trade dealer’s product development in order to satisfy the industry need of using
leverage trade product to service the market by performing hedge. |
| first_indexed | 2024-12-18T10:37:36Z |
| format | Article |
| id | doaj.art-49677b81ed7740ab9733f8886c7783d6 |
| institution | Directory Open Access Journal |
| issn | 2523-0298 |
| language | zho |
| last_indexed | 2024-12-18T10:37:36Z |
| publishDate | 2021-03-01 |
| publisher | School of Law, National Chiao Tung University, Taiwan |
| record_format | Article |
| series | 交大法學評論 |
| spelling | doaj.art-49677b81ed7740ab9733f8886c7783d62022-12-21T21:10:42ZzhoSchool of Law, National Chiao Tung University, Taiwan交大法學評論2523-02982021-03-01897128槓桿交易監理創新的國際經驗介紹 Introduction to the New International Experience of Supervising Leverage Trading 邵之雋 Jy-Juinn Shaw 0 Chairman, Institute of Financial Law and Crime Prevention; Associate Professor, National Chiao Tung University School of Law; Ph.D., National Taiwan University Graduate Institute of National Development.本文綜述了美國、新加坡、英國、澳洲，在槓桿交易產品定義上的差異性。本文發現我國的槓桿交易法規設計上主要參考美國經驗，而在實際運營中則採國際通用，以期貨商兼營槓桿交易商的方式。在監理發展上，我國的槓桿交易商環境相對自由，並無嚴格的槓桿倍數限制；而在槓桿交易產品的開發上，由於我國不允許做本幣以及和中國大陸資本市場連結的槓桿交易產品，因而較其他國家保守。這使得我國槓桿交易商在產品開發上，除需結合本國實體經濟需求外，也必須與其他國家既有優勢產品作差異化區別，以滿足國內業者使用槓桿交易產品進行避險以服務實體經濟的需求。 This article summarized the definition differences of leverage trading between U.S., Singapore, U.K. and Australia. We discover that our design of regulations on leverage trade is primarily based on U.S. experience, yet international standard is adopted in the actual operation, futures dealers acting as leverage traders. In terms of the development of supervision, our trading environment for leverage has relative freedom without a strict limit on leverage’s multiples. In terms of leverage trade’s product development, it is more conservative than other countries since our country forbids creating leverage products that link our currency to Mainland China’s capital market. It forces our country to combine the needs of our economy and to create differentiation from other countries’ featured products in the leverage trade dealer’s product development in order to satisfy the industry need of using leverage trade product to service the market by performing hedge. https://lawreview.nctu.edu.tw/%e6%a7%93%e6%a1%bf%e4%ba%a4%e6%98%93%e7%9b%a3%e7%90%86%e5%89%b5%e6%96%b0%e7%9a%84%e5%9c%8b%e9%9a%9b%e7%b6%93%e9%a9%97%e4%bb%8b%e7%b4%b9/槓桿交易金融監理創新沙盒監理科技資訊透明leveraged transactionfinancial supervisionregulatory sandboxregtechinformation transparency |
| spellingShingle | 邵之雋 Jy-Juinn Shaw 槓桿交易監理創新的國際經驗介紹 Introduction to the New International Experience of Supervising Leverage Trading 交大法學評論 槓桿交易 金融監理 創新沙盒 監理科技 資訊透明 leveraged transaction financial supervision regulatory sandbox regtech information transparency |
| title | 槓桿交易監理創新的國際經驗介紹 Introduction to the New International Experience of Supervising Leverage Trading |
| title_full | 槓桿交易監理創新的國際經驗介紹 Introduction to the New International Experience of Supervising Leverage Trading |
| title_fullStr | 槓桿交易監理創新的國際經驗介紹 Introduction to the New International Experience of Supervising Leverage Trading |
| title_full_unstemmed | 槓桿交易監理創新的國際經驗介紹 Introduction to the New International Experience of Supervising Leverage Trading |
| title_short | 槓桿交易監理創新的國際經驗介紹 Introduction to the New International Experience of Supervising Leverage Trading |
| title_sort | 槓桿交易監理創新的國際經驗介紹 introduction to the new international experience of supervising leverage trading |
| topic | 槓桿交易 金融監理 創新沙盒 監理科技 資訊透明 leveraged transaction financial supervision regulatory sandbox regtech information transparency |
| url | https://lawreview.nctu.edu.tw/%e6%a7%93%e6%a1%bf%e4%ba%a4%e6%98%93%e7%9b%a3%e7%90%86%e5%89%b5%e6%96%b0%e7%9a%84%e5%9c%8b%e9%9a%9b%e7%b6%93%e9%a9%97%e4%bb%8b%e7%b4%b9/ |
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