Our Treasury Futures Linked Financial Products Design

In our country the interest rate market is substantially complete and the rapid development of financial derivatives market background,financial products as the main representative of the intermediate business of commercial banks started to become the main direction of strategic transformation.In order to meet the demand for financial products in financial markets,the commercial bank has designed various types of financial products and structured financial products due to its own characteristics of both fixed income securities and financial derivative contracts,flexible diversity,gradually being extensive attention.However,due to time structured financial products appeared in China late,lack of innovative capacity,the product has a poor pricing of commercial banks,high homogeneity and single issue underlying assets in structured products on the market in China.In the financial environment to restart the bond futures market,the above problems,this paper attempts to design a bond futures linked to structured financial products,the use of model-Carlo simulation method for reasonably priced products will help make up for the existing financial market financial products insufficient.The first chapter is an introduction,mainly introduces the research background of product design,pointed out in the context of "Thirteen Five" financial reform,continue to promote the interest rate market,financial derivatives as the most effective risk transfer tool to increase its development is conducive to preventing and defusing financial risks;the second chapter on the status of structured financial products market of bank analysis,we found our financial products market defects,thus the necessity of bonds futures linked financial product design description;s chapters from the basic principle,to provide a theoretical basis for the design of the product,this article assumes that proceeds of the selected asset follows a geometric Brownian motion,the use of free cash flow model and Monte Carlo simulation for product pricing,and the use of Va R model for risk products income assessed in order to evaluate the product;the fourth chapter with specific design so that the product design implemented;chapter analyzes the returns and risks of the products,and on the basis of superior products derived sex;sixth chapter gives the corresponding product marketing strategy;product Chapter VII of the whole situation is summarized and presented shortcomings and prospect research.