Analysis On Otc Commodity Derivatives Market And The Relationship Between OTC Derivatives Market And Commodity Derivatives Market

At present, domestic economic restructuring and the complexity of the external economic environment of the real economy has greatly increased the demand for risk management requires us to develop standardized derivatives market at the same time, and actively promote the OTC derivatives market (OTC Derivatievs Market) development, to meet the enterprise individuation and diversification of risk management needs. However, due to policy makers, regulators, market participants of the OTC derivatives market and the function of the OTC derivatives market, risk assessment and prevention and control and other aspects of existing knowledge is not unified, not in place, not enough, even the existence and development of OTC derivatives market will affect the derivatives market development point of view, resulting in China's OTC derivatives market especially the OTC commodity derivatives market development and exchange traded derivatives market does not match the serious. Therefore, the urgent need to correctly assess the exchange and OTC derivatives market can collaborative development issues, and explore the development path of the OTC derivatives market for China's national conditions on the basis of.Due to the difficulty of data collection, at present our country academia and practitioners in the field and demonstrated the development of the OTC derivatives market, based on theoretical analysis, empirical research is relatively small, retrieved from the author literature results, empirical studies only are confined to this region of the United States market. This paper completed the arduous work in data collection, data covering all areas of offshore derivatives trades as the basis, for the first time in the domestic market of market development makes an empirical research on the relationship, to verify the OTC derivatives market is a useful supplement, exchange traded derivatives market OTC derivatives market can collaborative development point of view, in order to relieve the industry from all walks of life especially the regulators should develop the OTC derivatives market doubts on whether.Thankfully, since 2014, Futures Company risk management subsidiary approved the establishment as a sign, China's OTC commodity derivatives market has been difficult to start. The author through visits to the Futures Company's risk management subsidiary, questionnaire, consulting industry association released information, the latest development of China's OTC commodity derivatives market, collects and analyzes the current development of OTC commodity derivatives market encountered the difficulties and problems, finally combined with the overseas development experience enlightenment to our country, put forward the acceleration of China's OTC commodity derivatives market development policy recommendations.In this paper, the use of economics, finance, management and law and other related knowledge and theory, the use of theoretical and practical research methods. This article mainly includes the following aspects.First, from the market participants, clearing, trading platform, legal, regulatory and other aspects of the text, analyzes the elements of OTC commodity derivatives markets; through the analysis of a large number of data, the development of derivatives market situation of overseas OTC commodity and characteristics are discussed, and refines the good experience for the development of our country.Second, through the case, data statistics and other forms of analysis of China's OTC market development situation, the existence of difficulties and problems.Third, through the data model development relationship of exchange traded derivatives market and OTC derivatives market by empirical analysis, confirm the OTC derivatives market is a useful complement to the venue derivatives market, which demonstrates the necessity to develop the OTC derivatives market and practical significance.Finally, on the basis of drawing lessons from foreign experience, the policy recommendations to promote the rapid development of China's OTC commodity derivatives market.