Design Of Financial Products,Based On Bullish "Maintenance Float-10-Year Treasury Bond Futures"

In recent years,structured financial products(PS)have achieved remarkable development in the international financial market.As a relatively special category in fixed income products,it uses zero-interest bonds,deposits,etc.Through the use of financial engineering technology.Fixed income products merged with financial derivative transactions such as forwards,swaps and options,However,at this stage,the structural style of financial products is tied to the single style and the similarity in product investment types affecting its development.Since the failure of the initial transaction trial of government bond futures in 1995,the five-year treasury bond futures have been brewed and developed for a long period of time.In 2013,it was re-listed on the China Financial Futures Exchange.After a period of time,it developed into the most transaction in China.One of the active financial futures,and two years after the 10-year treasury bond futures were listed and traded,the development momentum was rapid.Under the background of the return of treasury bond futures to the capital market,combined with the current financial market environment and the investor's risk appetite,this article plans to design a structured product linked to the Treasury bond futures and give it reasonable pricing to provide more security for investors.Reliable product selection to meet the increasingly diverse product needs of users has important practical significance for the development of the financial product market.First of all,according to the needs of the target customers of the product,this paper designs a specific financial product by converting the customer demand into a professional financial problem.Second,according to the characteristics of the structured financial product,it is divided into a fixed income component and an option component.The fixed-income part is through the discount model and the option part is using Monte-Carlo to study the price of the target asset and use the control variable method to reduce the variance,and finally get the total value of the structured product;Finally,the sensitivity analysis and yield risk analysis of the product According to the results,we propose the advantages and disadvantages of productpromotion and give relevant suggestions.