金融术语词汇辅导：衍生工具

会计考友

Cap / Interest Rate CapAn option contract that specifies a maximum limit on a floating interest rate. Used by borrowers to protect themselves against rising rates.Credit Swap/Credit Default SwapA swap that allows the transfer of credit risk of a security to a third party, responsible for payment of principal and interest on default.Interest Rate CollarAn option hedging strategy involving the purchase of a cap and the sale of a floor to confine interest rate movements to a range.Floor / Interest Rate FloorAn option contract that specifies a minimum limit on a floating interest rate. Investors can protect themselves against falling rates.Leveraged SwapA swap that achieves a lower cost of funding than is normally available, but exposes the borrower to compounded risk if interest rates rise.OptionA contract giving the buyer the right, but not the obligation to buy or sell a specified amount of a security, etc. at a specified price.UnderlyingSomething that forms the foundation for another thing. In some option contracts, it is subject to delivery when the contract is exercised.上限/利率上限 对浮动利率限定最低限度的期权合同。借款人用来保护自己不受上升利率的影响。信用互换/ 信用违约互换能够将有价证券的信贷风险转移给第三方的互惠信贷、对拖欠的本息支付负责的互换。利率上下限涉及购买上限和出售下限来限制利率在一定范围浮动的选择权保护策略。下限/利率下限 就浮动利率限定最低额的期权合同。投资商能够保护自己不受利率下降影响。杠杆率掉期 能够获得比通常较低的筹资成本，但如果利率升高就会使借款人有复杂风险的互换。期权（选择权） 给买者以权利、但没有义务以一定价格购买或出售一定数量的有价证券等的合同。基础的 作为另一事物基础的东西。在一些期权合同里，当履行合同时有可能被移交。