摘要
债券回购业务推出以来,有效降低市场参与者的交易成本,融资方能够灵活配置抵押证券、减轻交易中的操作负担。然而,通过细分市场来看,目前我国交易所债券质押式回购市场的运行机制和市场结构尚存在一些不足,隐藏着一定的风险隐患。
In the years since China launched bond repurchase business, transaction costs for market participants have been considerably reduced, This has largely been due to the ability of financing entities to make more flexible use of securities as collateral - an innovation that has reduced financial burdens. However, if we Nook closely at the bond repurchase trade, we can still see some shortcomings in the market＇s operating mechanism and its structure. This obscures some of the market risk.
出处
《金融市场研究》
2017年第12期103-107,共5页
Financial Market Research
关键词
质押式回购
中央对手方
信息披露建设
抵押品管理
Pledged Repo, Central Counterparty, Information Disclosure, The Management of Collateral
