National Financial Market - Second Edition

Author: Li Mou
Publisher:
Publish Date: 2006-04-01
Features: The domestic financial market generally has two classification methods: One method divides the domestic financial market into money markets and capital markets based on the maturity of financial assets. Financial markets where the maturity of financial assets is one year or less are called money markets, while those with a maturity of more than one year or no maturity are called capital markets. Another method divides the domestic financial market into debt markets and equity markets based on the nature of financial assets. Financial markets where the issuance and trading of financial assets involve lending relationships are called debt markets, while those involving equity relationships are called equity markets. This book adopts the latter classification method. It introduces the trading products, trading rules, trading procedures, and trading methods of the national financial market, divided into four parts: debt markets, debt derivatives markets, equity markets, and equity derivatives markets. The debt market includes short-term debt markets, corporate medium and long-term debt markets, real estate mortgage markets, mortgage-backed security markets, asset-backed security markets, and government medium and long-term debt markets. The debt derivatives market includes interest rate and currency swap markets, interest rate futures markets, and interest rate options markets. The equity market includes stock markets, while the equity derivatives market includes stock index futures markets, stock and stock index options markets. While introducing the operation of the domestic financial market, this book also elaborates on the theories related to financial assets and financial markets. At the end of the book, there are review questions for readers to study and reflect on.