我國公債期貨之研究分析; The analysis of Taiwan Government Bond Futures

NCUIR > School of Management at National Central University > Executive Master of Finance Management > Electronic Thesis & Dissertation > Item 987654321/12436

Please use this identifier to cite or link to this item: http://ir.lib.ncu.edu.tw/handle/987654321/12436

Title:	我國公債期貨之研究分析;The analysis of Taiwan Government Bond Futures
Authors:	包偉康;Wei-kang Pao
Contributors:	財務金融學系碩士在職專班
Keywords:	最便宜可交割債券;現金結算;實物交割;可交割債券;physical delivery;cash settlement;deliverable bond;cheapest to deliver bond
Date:	2009-06-11
Issue Date:	2009-09-22 14:49:10 (UTC+8)
Publisher:	國立中央大學圖書館
Abstract:	自公債期貨問世以來，其交易量在全世界的期交所都佔有相當大比重，在整個金融商品交易上，扮演著相當重要的角色。而我國公債期貨市場推出至今已超過五年，其市場流動性一直未能有效提振。本文希望能以客觀的角度，結合實務經驗與理論基礎，研究公債期貨市場流動性欠佳的原因，提出看法與建議。本研究之結論如下：公債期貨的發展必需要有一個健全的現貨市場，目前公債市場的困境肇因於國內現貨市場之發行面、交易面與制度面結構性因素，唯有完善的規劃並推動整體的改革，才能提振我國公債期貨市場之交易情況。而這需要期交所、相關主管機關與交易商等，共思解決之道，才能促進國內公債期貨市場之發展。 After the first contract of the bond futures was starting to trade, the trading volumes of bond futures have high percentage in each exchange. And the bond futures play an important role in the financial market. Taiwan Government Bond Futures have started trading for more than five years. This market lacks liquidity for a long time. This article wants to investigate the cause of lacking liquidity in Taiwan Government Bond Futures’ market by using the practical experience and theoretical methods. And try to give opinions and suggestions objectively. This study identified that the issues of the government bond, current trading situations and regulatory systems are the main structural reasons cause the plight of bond futures market in Taiwan. The way to improve Taiwan Government Bond Futures’ market is to have a sound scheme and promote the integral revolution. That needs the futures exchange, relative governmental institutions and primary dealers to find out solutions and improve our bond futures market jointly.
Appears in Collections:	[Executive Master of Finance Management] Electronic Thesis & Dissertation

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