The Optimization's Study Of Our Financial Derivative Markets' Regulatory System

The global financial crisis by the subprime mortgage crisis that some economists think has its roots in its poor financial derivatives market supervision and brings great harm to the countries'financial derivatives market. So it gives a demanding that every country must increase their financial derivatives market supervision. Our country's supervision system of financial derivatives market is a three-level regulatory mode what has long been informed of a unified government regulation, industry self-regulatory and stock exchange's first-line regulatory. From a practical point of view, our country's financial derivatives market's supervision system has many deficiencies in the current. In order to avoid similar risks of the subprime mortgage crisis in our country's financial system, it needs re-organization and optimization at once.Financial derivatives'high leverage makes the market price fluctuate more intense and its continuous innovation leads to complex risk structure. Their complex and diverse design structure increase the difficulty of supervision and feature sheet leads to a chain reaction and so on. The supervision of financial derivatives must give the market intervention timely and accurately. Such as utility theory, information economics, corporate boundary theory, game theory, Coase theory what this paper draw on give the supervision system of financial derivatives to analyze these problems. At the same time, it makes contrast with the financial derivatives market supervision system of the developed countries and regions and draws on their successful supervisory experience. As our financial derivatives market supervision system exists the phenomenon of Multiple regulatory,cross-regulation,decentralized regulatory and so on, it has a request that we must design an optimization model to avoid the hazards what they bring.The article design an optimization model to our country's financial derivatives market supervision system that we establish a unified financial derivatives market regulatory system and avoid the friction loss what the "one bank and three organization" brings. In order to offer a supervision scale what fit to the development of financial derivatives market to regulators, we must give some quantitative analysis to the designed model.