Yintoni isivumelwano amakamva

Ngorhwebo kwi exchange ababandakanyekayo inani elikhulu kwizixhobo zemali ezahlukeneyo. Omnye wabo, ke, koko, zithandwa kakhulu, i isivumelwano amakamva. Yintoni na yaye ziziphi iimpawu zayo - ukuba nje kwaye kuya kuxoxwa ngazo kwinqaku lethu.

Kakuhle eli Umba

«Future» - in translation evela IsiNgesi lithetha "Ikamva" okanye "kwixesha elizayo". Bazisebenzise contract (ngamanye amaxesha nje kuwo amakamva) isivumelwano ukuthengisa okanye ukuthenga into ethile kule mvumelwano ngosuku oluthile kwaye ngexabiso pre-wavuma. Xa indima imveliso enokuba izabelo, iimali okanye nayiphi na imveliso. Bazisebenzise yesivumelwano njenge uhlobo Kwathi ngenxa yokuba zombini abathengi kunye nabavelisi bangathanda ukuba kuyibiyela nxamnye ezimbi ukuze ikhule okanye bawe ngokwexabiso kwishishini iintsimbi candelo, amandla kunye ingqolowa. Kamva, njengoko ukuphuhlisa olu hlobo lwesivumelwano kuyo sele iqalile ukusasaza kwezinye iintlobo zezixhobo zorhwebo. Ngokukodwa, kwaye kwaqalisa ukuba zigqitywe ngowe-indices equity, amaqondo enzala, izimali, njl Kungoku nje ngobukhulu amakamva ukutshintshiselana ehlabathini, apho kwenzeka nje isabelo abathengisa ingonyama kwesi sixhobo. Eyona idumileyo kwezi sayithi iBhodi Chicago of Trade, NYMEX (New York), LIFFE (London), kwakhiwe inqaba zokubonisela (icandelo ku fune).

Isivumelwano amakamva lahlukile ukusuka phambili

Ukuthenga impahla ixabiso lexesha elizayo kuzo ebekuvunyelwene ngaphambili, ungasebenzisa esinye isixhobo. Le isivumelwano phambili. Kwakhona ezithandwa kakhulu, kwaye isoloko isetyenziswa uthango iingozi. Kudla abatyali makhwelo xanisa phambili kwaye ikamva izivumelwano, kwaye ke ngoko abonisa iiyantlukwano zabo ziphambili:

1. Bazisebenzise libhekisela kuphela yokutshintshana elilungelelanisiweyo.
2. Phambili ziyabophelela kwaye idla ngenjongo yokuba zizizo zokuhanjiswa yempahla.
3. Bazisebenzise babe nemali yokuhlawula amatyala mkhulu kwaye lupheliswe kokungena reverse (malunga) nentengiselwano yi.

Ulangazelela kanye iibhulukhwe

Xa kufikwa apho isivumelwano sokuthenga, nto leyo ithetha ukuba kwenziwe urhwebo elide okanye Long. Kulo mzekelo, umthengi uthembisa ukuba ukuthatha ukusuka exchange lokuqala asethi ezithile kunye nomhla ekufanele uphumezo lesivumelwano ukuba ahlawule Exchange imali elikhankanywe kuso. Elifutshane - umsebenzi umva. Xa isivumelwano amakamva "ezithengiswayo", umthengisi uthembisa ukuba athengise (wabeka) asilonaniselwano ethile asethi, xa kufika ixesha lokuba enze isivumelwano, apho Exchange iza idlulisele kuye imali efanelekileyo imali ixabiso kucacisiwe kwisivumelwano. Kule ke kwelinye icala ukuba ukuzaliseka izibophelelo ungakhathazeki - oku ilandelwa ngokususa izindlu. Ngenxa yoko, umtyali akuthethi ukuqinisekisa imeko yemali otyalayo.

iimeko ezisisiseko

Ukuze angene kwimvumelwano bazisebenzise, kuyimfuneko ukuba angenise ingxelo labarhwebi izibambiso ethile. Le mali kuthiwa eludinini lokuqala kwaye i-akhawunti apho yaziswa, owaziwa njenge-akhawunti ogciniweyo. Oku kucwangcisa ubungakanani ubuncinane eNdlu Clearing, ekhokelwa yi-manani ababeyiqwebile kuthathelwa ingqalelo ukuphambuka iphezulu yemihla ngemihla ye-asethi. inkampani labarhwebi isenokwenza ukuba kufuneke iminxeba umda ngumtyalimali, kwi imali enkulu. Ukongeza, izigulana ezo kufuneka zibe akhawunti bazisebenzise, leyo kufuneka ubuncinane 65% yedipozithi sokuqala. Ukuba le meko elingayizalisanga, umthengisi uya kwazisa mali malunga imfuneko yokuba inkxaso-mali eyongezelelweyo ukwenzela ukuba kufikelelwe kwinqanaba lokuqala (ukwahluka) eludinini. Kwakhona, ukuba le mfuneko uya kubuzwa, umthengiseli unelungelo ndithengise isivumelwano amakamva yi umsebenzi reverse ngendleko ye client. Yonke imihla ekupheleni clearinghouse iseshoni yorhwebo yenza recalculation zonke izithuba ezivulekileyo: isixa awinileyo kwabalelwa abatyali mali abaphumeleleyo kuloo akhawunti lwabo baphulukene. Kwakhona wenza nokulungiswa okanye imeko-bume yamaqela ulinganiselwe kwimali iyonke.