Research On Operate Risk Of Financial Derivative In The Transaction Of Enterprise

With the development of global economy, great changes have taken place in the field of international finance. International financial capital flowing rapidly and the trade between countries becoming more closely, the financial markets have made the rapid development. Financial derivative plays a more and more important role in modern society. Financial derivative instrument has poured great energy into the entire capital market, but the risk which it has brought is also high.Since the reform and open policy, more and more Chinese enterprises begin to use financial derivative to avoid risks. A series of Chinese enterprises get huge loss in the transaction of financial derivative urge us to re-inspect the risks of financial derivative.Among the five risks of financial derivative, operate risk is tend to be neglected by people because of its characteristic, but it often bring disastrous consequences once happened. The research on operate risk started relatively late in China and mainly in commercial banking area. Operate risk management is still at the primary staged. There is no model for the measurement of operate risk of Chinese enterprise and no tools to control them.This paper combines the achievement of operate risk and characteristics of financial derivatives. Based on Chinese national conditions and Chinese enterprises' management structure, the paper analysis the operate Risk of financial derivative in the transaction of Chinese enterprise and give some advices.The paper is divided into six parts. The first part mainly introduces the basement and significance of the topic, the approach, the structure, the innovation and deficiency of the paper. Meanwhile reviews on research situation of domestic and foreign are have also been made in this part. The second part is the introduction of financial derivative. The third part is the analysis of the operate risk. The fourth part is the analysis about the management of the operate risk. The fifth part is a case study about CITIC PACIFIC. The last part makes a summary of the whole paper.