由美国次贷危机引发的金融危机,使得人们对衍生金融工具谈虎色变,视之为洪水猛兽,其实衍生金融工具本来是作为国际金融市场的避险工具而应运而生的,它的核心功能是消除信息非均衡和不对称性,通过复制和分解,构建对冲组合达到控制风险,降低不确定性的目的。当然,作为一种获利性的投资工具,它们往往也会给投 The financial crisis triggered by the subprime mortgage crisis in the United States has caused people to discredit derivative financial instruments as a scourge. Actually, derivative financial instruments were originally developed as a hedging tool for international financial markets. Its core function is to eliminate information Non-equilibrium and asymmetry, through the replication and decomposition, building hedging portfolio to control risks and reduce the uncertainty. Of course, they are often given as a profitable investment vehicle