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01
Definitions #
Financial contracts whose value is linked to an underlying asset, rate, or index, used for hedging or speculation.
Technical Instruments (forwards, futures, options, swaps) whose payoff derives from an underlying reference such as an interest rate, currency, commodity price, or credit event.
Example The treasury department uses financial derivatives to hedge its exposure to rising interest rates.
02
Etymology #
From Latin derivare, to draw off, combined with financial, indicating a contract derived from another asset or index.
03
Collocations #
- OTC derivatives 场外交易衍生品
- exchange-traded derivatives 交易所交易衍生品
- derivative position 衍生品头寸
- derivative valuation 衍生品估值
04
Real Business Examples #
- The bank's portfolio of financial derivatives increased significantly during the quarter.
- Under IFRS 9, financial derivatives must be measured at fair value through profit or loss unless hedge accounting is applied.
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05
Register & Variants #
- Register: formal
- BrE/AmE: 全球通用，美英均为 financial derivatives
06
Synonyms & Antonyms #
- Synonyms: derivatives, contingent claim
- Antonyms: cash instruments
07
Common Errors #
- 把 derivatives 等同于 leverage products 衍生品本身不必然带杠杆，是否带杠杆取决于合约条款。
- 忽略衍生品的负公允价值 衍生品可能具有负公允价值，企业须反映在资产负债表中。
08
Confusable Terms #
- swaps vs financial derivatives
- swaps 是一种衍生品，交换现金流；衍生产品包括期权期货等更多类型。
09
Frequently Asked Questions
衍生品为何重要??
用于风险管理和价格发现，帮助企业和金融机构转移市场风险。
衍生品只用于投机吗??
不对。多数衍生品用于对冲商业风险，投机只是参与者的部分行为。
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