Then we turn to the core of this paper: the development of the credit derivatives market and application of the product.
目前，在我国商业银行的信用风险的管理过程中，还没有运用真正意义上的信用衍生产品。
Mr Tuckett takes a lofty view of the crisis, but Nicholas Dunbar gets down-and-dirty with the details in his book, “The Devil’s Derivatives”, about the credit derivatives market.
塔克特先生站在了一个高度视角上俯瞰这场危机，而尼古拉斯•邓巴则站在一个低下肮脏的位置为他的新书描述了众多细节——关于信贷衍生品市场的《恶魔的衍生品》。
But they want to see more robustness, especially in credit derivatives, and have hinted that they will impose their own solution if the market does not.
他们希望看到市场更有活力，特别是信用衍生产品，而且暗示如果市场没有如此他们将采取自己的手段。
Now they do: “The use of credit derivatives has totally liberalised the debt market, ” he says. “It has created an enormous shift in the risk profile of banks.
现在他们可以：“信贷衍生工具的使用已经完全放宽了债务市场”，他说，“这已经使得银行在风险方面的形象有了极大的转变。
These are especially big in the booming market for credit derivatives, which are also traded outside public exchanges.
这些贷款量在新兴的也在公共交易所外进行交易的贷款衍生品市场更大。
Many firms, especially those with weaker credit ratings, have simply been frozen out of the market for derivatives by Banks' reduced willingness to carry risk.
很多公司，特别是信用等级不高的，已经被不愿意承担更多的风险的银行拒之于衍生品市场之外。
For example, the market for credit derivatives galloped far ahead of its supporting infrastructure.
比如说，信用衍生品市场遥遥领跑于其基础设施。
Demand for credit derivatives overwhelmed the existing, largely manual, dealer and market infrastructure, leading to a large backlog of unconfirmed trades.
对信用衍生品的需求，让人工处理为主的现有交易商和市场基础设施应接不暇，导致未经确认的交易大量积压。
In the process, the massive market for credit derivatives will be put to an even bigger test than it has been in 2008.
在此过程中，信用衍生品市场会迎来比它2008经历过的更大的考验。
The market for credit derivatives, widely blamed for helping destabilize markets, remains vast.
曾被广泛指责为导致市场不稳定的因素之一的信贷衍生品市场仍规模庞大。
Although it flirted with danger (a 2007 presentation boasts of its expertise in exotic credit derivatives), it took little "market risk" -by, for example, holding securities.
尽管它总是和危险打交道(在2007年的一次宣讲中，它吹嘘着其在奇异信用衍生品上的专长)，它通过诸如持有股票的方式使其所需要承担的“市场风险”几乎没有。
More importantly, it is a giant in the over-the-counter derivatives market, and number one by a long way in credit-default swaps.
更重要的是，摩根大通是柜台交易衍生品市场的巨头，在信用违约掉期业务上长期处于霸主地位。
The question that Father Christmas poses to every child whoclamours for a present also haunts the credit-derivatives market.
这个圣诞老人会想每个要礼物的问题同样困扰着信用衍生品市场。
CCPs are the norm in exchange-based markets but they have been scarce among surging over-the-counter (OTC) derivatives, notably the gigantic market for credit-default swaps (see chart).
集中交易对手在交易市场中很常见，但在热度高涨的衍生品场外交易市场中却十分罕有，尤其是在信用违约掉期的巨大市场中更是如此(见表)。
In the run up to the credit crisis financial companies such as AIG took enormous risks in the derivatives market that went largely undetected.
在信贷危机的累积过程中，一些诸如美国国际集团这样的公司在场外市场中承受了极大风险，这些市场的运作很大程度上神不知鬼不觉。
An economical analysis which USES Game theory, EMH and Prospect theory of the production mechanism about credit risks, market risk, and operation risk of the derivatives has been given.
运用动态博弈理论、市场有效性理论、展望理论对衍生金融工具的信用风险、市场风险、操作风险的产生机理进行了经济学分析。
For example the emergence of asset-backed securities, like other financial derivatives, forcing market participants to pay more attention to credit risk.
又比如资产支持证券的出现，就像其它金融衍生工具一样，迫使市场参与者更加重视信用风险。
Credit derivatives have been playing an important role in diversifying credit risk, improving credit risk pricing mechanism, enhancing bond market liquidity etc.
信用衍生产品自问世以来在分散金融机构信用风险、完善信用风险定价机制、提高债券市场流动性等方面发挥了积极的作用。
Credit derivatives have been playing an important role in diversifying credit risk, improving credit risk pricing mechanism, enhancing bond market liquidity etc.
信用衍生产品自问世以来在分散金融机构信用风险、完善信用风险定价机制、提高债券市场流动性等方面发挥了积极的作用。
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