它不是“风险缓释工具”而是把风险本身作为对赌标的CDS(Credit Default Swap),中文称为信用违约互换,又称信贷违约掉期,是一种能够将参照资产(Reference Obligation)的信用风险从信用保护的买方转移给信用保护卖方的金融合约。作为海外市场交易最为广泛的场外信用衍生品之一。CDS本质上不是信用风险的保单,而是对赌风险的投机工具。CDS虽然形式上类似于保险合约,但本质上与保险有 It is not a “risk mitigation tool” but the risk itself as a bet on the CDS (Credit Default Swap), known as the Chinese credit default swaps, also known as credit default swaps, is a reference assets (Reference Obligation Credit risk is transferred from the buyer of the credit protection to the credit protection seller’s financial contract. As one of the most widely traded OTC credit derivatives in overseas markets. CDS is essentially not a policy of credit risk, but a betting tool for betting risk. While CDS is formally similar to insurance contracts, it is inherently with insurance