1848???????????(CBT) - PowerPoint PPT Presentation

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1848???????????(CBT)

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... cbot 3 cbot 4 cbot 5 cbot 7 cme 8 ... – PowerPoint PPT presentation

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Title: 1848???????????(CBT)


1
??
  • ???????????
  • ?????????????,??????????????,???????????????????,?
    ????????????

2
?????
  • 18?? (???)
  • 1848???????????(CBT)
  • ?????????????
  • 1970????????????
  • ????????????

3
????
  • ????
  • ?????????????
  • ????
  • ??
  • ??(93/1?????)
  • ??(93/1/2)
  • ????
  • DRAM (93/6?)

4
???????????
  • ???????
  • ????????
  • ???? (????????????)
  • ????
  • ??????
  • ????
  • ???????
  • ??????

5
?? ???? ????
???? ?????? ????
???? ??,??,?? ??,??,??
???? ?????? ??????
???? ??????? ???????? ?????????????
???? ?????? ??????
???? (ex7000?) ??100,??4???9????? 140? ?????1015 ????? 12?
???? ???????? ?????
???? ?????2??????? ????????
???(ex7000?) 140?x0.1425 x 2 3990 1000 x 2 2000
???(ex7000?) 140?x 0.3 4200 7000x200x 0.025 x 2 700
????(ex7000?) 8190 2700
6
?????
  • ?????
  • ?????
  • ????(Price Discovery)???

7
???????
  • ????
  • ????(Cash Delivery)

8
?????????
  • 1??????????????
  • 2??????????(100????)
  • 3?????????????
  • 4??????????????

9
????????
  • ?????
  • ?????????
  • ?????
  • ??????
  • ???????????????

10
  • 1 ???????? CBOT
  • 3 ???????? CBOT
  • 4 ???????? CBOT
  • 5 ????? CBOT
  • 7 ??????? CME
  • 8 ???LIBOR CME
  • 9 ?????? LIFFE
  • ??????? LIFFE
  • ?? CBOT
  • ??? CBOT
  • 107 ??? CSCE

11
  • 108 ? CSCE
  • 110 ?? NYCE
  • 111 ????? NYCE
  • ?? NYMEX
  • 138 ???? NYMEX
  • 139 ??? NYMEX
  • ????? IPE
  • 145 ? LME
  • ? LME
  • 152 ?? SIMEX
  • ?? COMEX
  • 154 ?? COMEX

12
???SIMEX????
  • ??????????,???1984?
  • 1997?1?9???????SIMEX
  • ??68?????????????
  • ??????US100
  • ???? 08451345 (??16001900)
  • ????? 7, 10, 15 (?? 7)

13
????????
  • ???????
  • ????????
  • ?????????200?
  • ???? 08451345
  • ????? 7

14
  • ???? ?????????,??3?6?
  • ???? 9?12???????,????
  • ????? ??????????????
  • ???? 9001200
  • ???? ??????????200?
  • ???? 1?(???200?)
  • ????? ??????????7
  • ??? ????????,??????
  • ????? ?????,??????
  • ????? ??????????????
  • ???? ????????????
  • ???????

15
?? ???? ????
???? ?????? ????
???? ??,??,?? ??,??,??
???? ?????? ??????
???? ??????? ???????? ?????????????
???? ?????? ??????
???? (ex7000?) ??100,??4???9????? 140? ?????1015 ????? 12?
???? ???????? ?????
???? ?????2??????? ????????
???(ex7000?) 140?x0.1425 x 2 3990 1000 x 2 2000
???(ex7000?) 140?x 0.3 4200 7000x200x 0.025 x 2 700
????(ex7000?) 8190 2700
16
?????
90,000
60,000
75,000
69,000
46,000
50,000
?????
17
  • ?????? ??????? NT120,000
  • ????? NT90,000
  • ???NT120,000 ,?7,600?????,????6,900?,???
  • (7,000-6,900)x200NT20,000 (??)
  • ??? 120,000 20,000 gt 90,000
  • ???,??????????
  • NT(120,000-90,000)/200 150?
  • 7,000-1506,850?
  • (????24?????)

18
  • ???,??????????
  • ?????8,750??, ?????????, ???????????????????????,
    ?????, ???????????25

19
(No Transcript)
20
  • 3/31/88?6,882???????????
  • 4/19/88?7,623?????
  • ?? (7,623-6,882)200 108,200
  • ??? 1,200x2 2,400
  • ??? 6,882x200x0.5 7,623x200x0.5
  • 688 762 1,450
  • ??? 108,200 1,450 106,750
  • ??? 120,000 ? ? 89!!!

21
  • 3/31/88?6,882???????????
  • 4/19/88?7,623?????
  • ?? 89???
  • ???150??????????
  • (6,882150)7,032?? 30,000
  • (7,032150)7,182?? 30,000
  • (7,182150)7,382?? 30,000
  • (7,382150)7,532?? 30,000
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