In april 2004 the hkma co - operated with the bank for international settlements and 51 other economies in the triennial central bank survey of foreign exchange and derivatives market activity 金管局在2004年4月与国际结算银行及51个其他济体系合作进行三年一度外汇及衍生工具市场活动央行调查。
However , dynamic hedging can also exacerbate a crisis , as demonstrated in case of erm 1992 and mexico 1995 . hence , managing derivative market risks is essential 但从一九九二年欧洲汇率机制与一九九五年墨西哥的事例中，可见动态对冲dynamic hedging也可令危机加剧，因此管理好衍生工具市场的风险极为重要。
In april and july of 2005 , after the performance of stock authority ’ s separately - placement and reform on currency rate forming mechanism , there is a growing voice for establishing the financial derivatives market 2005年4月和7月股权分置改革和人民币汇率形成机制改革相继推出后,建立金融衍生工具市场的呼声更是日涨。
As market of financial derivatives is less perfect in china than out of china , the method of real options should be cautious to use in decision making in china 但国外实物期权应用的市场条件较充分，而国内由于金融衍生工具市场的不完善，使得实物期权的应用领域受到较大限制，不顾实际市场条件而运用实物期权进行技术评估的作法应谨慎。
To meet the demand for risk management in mainland financial markets , we are also exploring further ways to develop our derivatives markets , including financial and commodity futures trading , and insurance and reinsurance industries 我们亦正研究如何配合内地市场对风险管理的需求，进一步发展包括金融和商品交易期货的衍生工具市场，以及保险业和再保险业。
In particular , the study on renminbi derivatives markets finds that , in the onshore market , forward pricing has been increasingly driven by financial fundamentals such as the interest rate differential between the renminbi and us dollar denominated assets 其中我们对人民币衍生工具市场的研究结果显示，人民币境内远期市场定价愈来愈受人民币与美元资产的利息差距这些基本金融因素所影响。
