Yintoni bengafuni ngamazwi alula? UMZEKELO uthango. bengafuni exchange angaphandle

Xa isigama kwezoqoqosho mihla, uyakwazi ukuhlangabezana okuninzi amazwi amahle, kodwa bengasiqondi. Umzekelo, i "kuyibiyela". Yintoni na? Ngamagama alula, lo mbuzo uya kuba nako ukuphendula ngamnye. Noko ke, sihlolisise ibonisa ukuba eli gama kuba nangona echazwe imicimbi yemarike-inshorensi,, esikhethekileyo kancinane.

Bengafuni - ukuba amagama alula

Ngoko ke ukujamelana. Ilizwi le babeze kuthi besuka eNgilani (uthango) nakwiindlela ngqo translation Ukubiya, ibe nesenzi, lisetyenziswa ukuba lithetha "lokuzithethelela," oko kukuthi ukuzama ukunciphisa amathuba yelahleko okanye ukuziphepha ngokupheleleyo. Yintoni bengafuni ehlabathini namhlanje? Sinokuthi oku isivumelwano phakathi umthengisi kunye nomthengi ukuba deal akayi izakutshintsha kwixesha elizayo, yaye iimpahla ziya kuthengiswa ngexabiso elithile (fixed). Ngaloo ndlela, ukwazi ixabiso ngqo apho imveliso zithengwa, nxaxheba intengiselwano kuyibiyela imingcipheko babo kunokwenzeka ukuhla izinga lotshintshiselwano kwi kwimarike lwemali kwaye, ngenxa yoko, utshintsho ixabiso lemakethi yempahla. nxaxheba Market ukwenza kuyibiyela imicimbi, okt eqinisekisa imingcipheko zabo, zibizwa ngokuba hedgers.

Njengoko kwenzeka

Ukuba ayide icace kakhulu, unga zama lula ngakumbi. Ukuqonda oko bengafuni ulula phezu umzekelo encinane. Njengoko usazi, ixabiso iimveliso zolimo naliphi na ilizwe kuxhomekeke kuquka imozulu, kanganani na isivuno. Ngoko ke, ekuqhubeni iphulo imbewu ke, kunzima kakhulu ukuba baqashele ukuba iza kuba ixabiso iimveliso kuwa. Xa imozulu intle, iinkozo ziya kuba kakhulu, kwaye ixabiso le eziphakamileyo kakhulu, kodwa ukuba kuya kuza imbalela, okanye, icala, iimvula rhoqo kakhulu, ukuba inxalenye zezityalo ingabalwa, ngokuba oko iindleko okuziinkozo uya kukhula izihlandlo ezininzi. Ukuze azikhusele obukhoyo endalo, amaqabane rhoqo ukuze enze isivumelwano esikhethekileyo, ukulungisa oko ngexabiso sikhokelwa iimeko yemarike ngexesha lokupheliswa kwale mvumelwano. Ngokusekelwe kule senzo, umlimi kuya kufuneka ukuba athengise kwaye umthengi ukuba athenge isityalo ngexabiso into zicaciswa gca kule mvumelwano kungakhathaliseki ukuba yintoni na ixabiso livela emalikeni ngalo mzuzu.

Apha kwaye kuza ngongoma xa kuvele kucace ngakumbi ukuba bengafuni ezinjalo. Kulo mzekelo, uphuhliso Kusenokwenzeka ukuba le meko iinketho ezimbalwa:

• ixabiso kwesityalo kwimarike zibiza kakhulu kuchaziwe kwisivumelwano - kulo mzekelo, umenzi, Kakade, wayengonwabanga, ekubeni ufumane ezinye izibonelelo;
• ixabiso lemakethi lingaphantsi kwenani elichazwe kwisivumelwano - kulo mzekelo, isiphukuphuku sele umthengi, kuba uthwele iindleko ezongezelelweyo;
• ixabiso eliboniswe kwimvumelwano kumphakamo yemarike - kule meko, zombini anelisekile.

Kubonakala ukuba hedge - umzekelo ukuphumeza indlela asethi inzuzo ngaphambi kokuba zenzeke. Noko ke, ukubeka loo akukhethi amathuba ngelahleko.

Iindlela kunye neenjongo, uthango lwemali

Kwelinye icala, ukuba uthi umngcipheko kuyibiyela - inshorensi nxamnye ezahlukeneyo inguqu engentle kurhwebo exchange angaphandle ukuba kuncitshiswe ilahleko enxulumene ukuhla ngerandi. Oko ke ngeenxa Kusenokwenzeka ukuba imveliso ethile kuphela, kodwa asethi zemali njengoko ezikhoyo izicwangciso ukuba bathenge nazo.

Kufuneka kwakhona bathi lwemali kuyibiyela echanekileyo akukho ejolise ekufumaneni ubuninzi ingeniso ezongezelelweyo, njengoko kubonakala ekuqaleni. umsebenzi wayo ophambili kukuba ukunciphisa imingcipheko, ngelixa iinkampani ezininzi ngabom bayala ithuba eyongezelelweyo ukwandisa ngokukhawuleza capital kwawo; kumazwe, umzekelo, akwazi ukudlala kwi ikhosi kwisilayidi, kwaye umenzi - ukwandisa ixabiso lemarike impahla. Kodwa ingqondo isixelela ukuba kubhetele kakhulu alahlekelwe iingeniso kwemfuneko nangaphezu kuphulukana yonke into.

Kukho 3 iindlela eziphambili ukugcina oovimba bayo exchange angaphandle:

1. Ukusetyenziswa izivumelwano (amakamva) ukwenzela ukuthenga lwemali. Kulo mzekelo, ukungalingani izinga lotshintshiselwano kuya kuba nempembelelo ilahleko zakho, ngokunjalo akayi ukuzisa ingeniso. Ukuthengwa amazwe liya kuba ngokungqongqo ikhontrakthi.
2. Ukongeza ikhontrakthi amagatya zokuzikhusela. izinto ezinjalo zidla amabini kwaye kuthetha ukuba xa utshintsha izinga lotshintshiselwano ngexesha intengiselwano ilahleko mhlawumbi, kwakunye nenzuzo yahlulwe ngokulinganayo phakathi kwamaqela. Ke, maxa wambi, oko kuyenzeka ukuba igatya kulonda kusebenza kuphela icala elinye, ngoxa elinye iqabane ungakhuselekanga, kunye ezintangweni ikharensi ingqalelo macala.
3. Imidlalo ukusuka umdla ebhankini. Umzekelo, ukuba emva kweenyanga ezi-3 uza kufuneka lwemali yokuhlala, kodwa ngaxeshanye, kukho iingcebiso ukuba izinga iza kutshintsha ngendlela elikhulu, bekuya kuba sengqiqweni ukutshintshiselana imali ngeqondo lonaniselwano yangoku uzibeke phezu idiphozithi. Kungenzeka, inzala yebhanki idiphozithi iya kuvumela ukuba ukuhla inqanaba, yaye ukuba nentekelelo akezi yinyaniso, kusenokwenzeka bamkela nkqu kancinane.

Ngenxa yoko, sinokuthi luthango - umzekelo wendlela iidipozithi zakho akhuselwe nxamnye kunokwenzeka nokunyuka kwenzala.

Iindlela kunye Tools

Amaninzi, iindlela ezifanayo umsebenzi zisetyenziswe hedgers bamazwe njengesiqhelo, kodwa musa edidekile ezi magama mabini.

Ngaphambi kokuba intetho malunga izixhobo ezahlukeneyo, kufanele kuphawulwe - ukuqonda umbuzo othi "yintoni nakuthango" ngokuyintloko ngenjongo yokuba utyando, kunokuba indlela baqeshwe. Ngoko ke, hedger uqhuba itransekshini ukwenzela ukunciphisa amathuba umngcipheko yeenguqu yexabiso leempahla, lo spy ezimbini isigqibo uya ubomi bakhe esichengeni, lo gama ilinde ukwamkela kuphela japan kakuhle.

Mhlawumbi lo mceli mngeni mkhulu kulukhetho lasekunene isixhobo kuyibiyela, nabanako ukwahlulelana ngokweendidi 2 ezibanzi:

• IOTC thaca segazi kunye nezivumelwano phambili; ezinjalo ukuthenga phakathi emacaleni ngqo okanye ngokusebenzisa lweengcali - Umthengisi;
• exchange bengafuni izixhobo, nto leyo iquka iinketho kunye amakamva; kulo mzekelo urhwebo lwenzeka kwiindawo ezikhethekileyo - ukutshintshiselana, kunye nayiphi na deal, iphela, isiphumo zontathu; iqela lesithathu yenza i ethile Exchange Clearing House, nto leyo ke usisiqinisekiso kwamaqela izibophelelo isivumelwano;

Zombini ezi ingozi iindlela kuyibiyela banamalungelo zabo nezingalunganga. Siza kuthetha okungakumbi ngabo.

stock

Imfuneko engundoqo ukuba iimpahla kwi istock exchange - ukukwazi kumgangatho kubo. Ezi isenokuba iimveliso amaqela okutya: iswekile, inyama, ikoko, okuziinkozo , njl, kunye noshishino - igesi, amatye anqabileyo, ioli kunye nabanye ...

Izinto eziluncedo ezingundoqo zorhwebo ezikhoyo:

• ukufumaneka eliphezulu - kweli phakade borhwebo nobuchwepheshe obuphambili kwi istock exchange ingaqhuba kuphuma phantse naphi na kulo mhlaba;
• amatyala kakhulu - ukuvula kunye nezikhundla zorhwebo kufuphi ngalo naliphi na ixesha ngokokubona kwayo;
• Ukuthembeka - it eqinisekisa ubukho kwintengiselwano nganye clearinghouse exchange umdla, aye nokuqinisekisa;
• iindleko kakhulu eziphantsi zokuphumeza ibitheni.

Kakade ke, hayi ngaphandle amaphutha ayo - mhlawumbi olusisiseko abaninzi kothiwa ingqongqo gqitha ngokwemigaqo yorhwebo: uhlobo lwemveliso, ubungakanani bayo, ixesha zonikezelo njalo njalo - yonke into iphantsi kolawulo.

Acute

iimfuno ezinjalo phantse engekho kwaukubakho, ukuba bakhetha ukurhwe- ngokunokwabo okanye ngoncedo kumthengisi. IOTC imisebenzi kangangoko kunokwenzeka ithathele ingqalelo iminqweno zabathengi, Wena ngokwakho ukwazi ukulawula ubungakanani inyanda kunye nonikezelo ixesha - mhlawumbi oku yeyona inkulu, kodwa phantse plus kuphela.

Ngoku kubakho iingxaki. Bona, njengoko nisazi, kokukhona:

• ubunzima kunye nokukhethwa umbhambathiswa - lo mba ngoku kufuneka ukujamelana ngokwabo;
• emngciphekweni omkhulu ukungaphumeleli nayiphi na omabini izibophelelo zabo - eqinisekile ukuba uhlobo lolawulo ngokutshintshiselana kulo mzekelo, akukho;
• amatyala low - ukuphelisa lungamkeleki kuso ngaphambili ufumana naziphi na iindleko zemali efanelekileyo;
• ezininzi neendleko;
• izenzo zexesha elide - ezinye ubuchule kuyibiyela bukugubungele ithuba leminyaka emininzi, njengoko imfuno eludinini apha ingasebenzi.

Hayi iphutha kunye ezikhethiweyo isixhobo kuyibiyela, kuyimfuneko ukuba ziqhube uphando lokujongisisa epheleleyo ithemba mhlawumbi kunye awohluke yalo okanye ngaloo ndlela. Kulo mzekelo, kufuneka ngokuqinisekileyo uthathe ingqalelo kwiimpawu zoqoqosho kunye amathuba oshishino, kwakunye nezinye izinto ezininzi. Ngoku makhe sihlolisise kwi izixhobo kuyibiyela kakhulu ethandwa.

phambili

Ngaloo ingqikelelo transactions okhethiweyo ukuba ixesha elithile apho amaqela ayavuma unikezelo kwempahla ezithile (asethi zemali) kwi ethile ngomhla othile kwixesha elizayo, kunye ixabiso leempahla busisigxina ngexesha wo yingisela. Kuthetha ntoni oku kuthetha ku umkhuba?

Ngokomzekelo, ezinye inkampani nezicwangciso ukuthenga ibhanki dollar Eurocurrency, kodwa hayi kwi ngomhla kokusayina isivumelwano, yaye, nithi, iinyanga ezi-2. Kulo mzekelo, kanye ezisisigxina, ukuba izinga $ 1.2 euro nganye. Ukuba emva kweenyanga ezimbini idola euro iya kuba 1.3, ngoko ke eqinileyo kufumana kongiwa - cents-10 kwi-dollar ixabiso lesivumelwano, umzekelo, nesigidi, ndibasindise $ 100,000. Ukuba ngeli xesha rate uya kuwela 1.1, imali efanayo aya kuya ukulahleka inkampani, kwaye ukurhoxisa eli isivumelwano ayisekho kunokwenzeka, ekubeni isivumelwano phambili lunyanzelo.

Ngaphezu koko, zimbalwa imizuzwana ezingemnandi:

• kuba imvumelwano elolo hlobo akuthethi ukunika msulwa Exchange endlwini, omnye amaqela angala nje ukuyiphumeza xa kukuvela kweemeko esibi ngenxa kuyo;
• isivumelwano eso ngokusekelwe ukuthembana, leyo kunciphisa kakhulu inani lamaqabane ezinokubakho;
• ukuba isivumelwano phambili inxaxheba kumthengisi ethile (umthengisi), oko kakhulu ukukhula iindleko, projektha kunye ikhomishini.

lekusasa

Le deal kuthetha ukuba umtyali-mali uthembisa ixesha elithile ukuthenga (sell) saba isixa impahla okanye asethi zemali - izabelo kunye nezinye izibambiso - kwixabiso kwisiseko elimisiweyo. Ngamafutshane nje - ukuba isivumelwano ukunikezelwa elizayo, kodwa kutshintshiselwano amakamva yimveliso, nto leyo ethetha ukuba izicwangciso zayo ezikumgangatho ofanayo.

Bengafuni ixabiso amakamva ngumkhenkce unikezelo elizayo le-asethi (impahla), ngexesha ukuba ixabiso itshatshazi (intengiso ixabiso iimpahla kwimarike lenene, imali yokwenene, yaye unikezelo ngoko nangoko) iza kuncipha, zoya uyahlawulwa inzuzo ingeniso evela kwintengiso izivumelwano fixed-term. Kwelinye icala, akukho ndlela eya ukusebenzisa ukunyuka kwexabiso ndawo ke, ingeniso ezongezelelweyo kulo mzekelo ziya bangabi ilahleko evela kwintengiso ikamva.

Enye ethile ikamva kuyibiyela iba imfuneko ukwahluka eludinini, nto leyo exhasa kwindawo evulekileyo elide zikwimeko yuokusebenza, ngoko ukuthetha, luhlobo izibambiso. Kwimeko yokukhula ngokukhawuleza ixabiso ndawo ke, ungafuna inaliti imali eyongezelelweyo.

Ngandlel 'ithile, amakamva kuyibiyela ziyafana kakhulu kwiingcamango njengesiqhelo, kodwa kukho umahluko apha, kwaye ebalulekileyo kakhulu.

Hedger usebenzisa bazisebenzise zentengiselwano, kuyibiyela kwabo imisebenzi, eziqhutywa kwi lemarike iimpahla (wokwenene). Kuba isivumelwano spy amakamva - oku nje lithuba lokuba ingeniso. Kukho umdlalo ku umahluko ixabiso hayi kwi ukuthenga nokuthengisa ye-asethi, ngenxa yokuba imveliso yokwenene ayisekho kwindalo. Ngoko ke, naziphi na iilahleko okanye nengeniso beyifuna kwimarike amakamva namnye ngaphandle umphumo lokugqibela imisebenzi yayo.

ongakhetha inshorensi

Enye yezona zinto uthandwayo nempembelelo kwi candelo umngcipheko i kwezivumelwano ukuba kuyibiyela iinketho, siza kuthetha ngakumbi ngabo:

uhlobo Option wabeka:

• Umnini American udidi ukhetho wakubeka unelungelo ngokupheleleyo (kodwa hayi ibophelelekile) ngalo naliphi na ixesha ukuphumeza isivumelwano amakamva ngexabiso umthambo fixed;
• bethenga ukhetho olunjalo, othengisayo makangenzi yorhwebo impahla oqondela ixabiso yokuthengisa ubuncinane, ngelixa oovimba ilungelo lokuba uthathe ithuba elimlungeleyo kuye ixabiso;
• Ukuwa amaxabiso ngekusasa ngezantsi ixabiso ukhetho umthambo, umnini iyithengisa (eyenziwa), ngokwenjenjalo okuncedisana ukulahleka imarike lenene;
• kunye nokwanda kwamaxabiso, yena angala ukusebenzisa ukhetho ze azithengise iimpahla ngexabiso kakhulu ngokwabo.

Umahluko ephambili isivumelwano amakamva kukuba xa uthenga ukhetho elungiselelwe eyintlawulo ethile, elivutha kwimeko non-kuzaliseka. Ngenxa yoko, wazibeka option xa kuthelekiswa ne eziqhelekileyo kuthi inshorensi bemveli - kwimeko ezenzeka (isiganeko inshorensi) umnini-ukhetho ufumana imali, kwaye sinyamalale ngaphantsi kweemeko eziqhelekileyo.

Option uhlobo call:

• umnini ukhetho unelungelo (kodwa hayi isibophelelo) ukuze uthenge naziphi na ikamva bemvumelwano yethutyana ngexabiso umthambo esingatshintshiyo, oko kukuthi, ukuba ikamva ixabiso phezu esisigxina, ukhetho anokusetyenziswa;
• Umthengisi bonke phezu koko - ukuba imali efunyenweyo sentengiso khetho, ubophelelekile ukuba sithengise umthengi yokuqala, isivumelwano amakamva ngexabiso ugwayimbo le.

Ngenxa yoko kukho imali yokhuseleko, efana naleyo isetyenziselwa kwiimvumelwano amakamva (amakamva market). Uphawu lwe uhlobo call ukhetho kukuba ihlawula ukuba ukuhla asethi yorhwebo ngemali ongekho ngaphezu kwemfuneko esiqendu ezifunyenwe nomthengisi.

Iindidi namaqhinga bengafuni

Ukuthetha inshorensi loo umngcipheko, kufuneka aqonde ukuba, kuwo nawuphi na umcimbi kukho macala ubuncinane ezimbini, kunye neentlobo kuyibiyela lungohlulwa lube:

• Uthango yomtyali (Umthengi);
• umniki-hedge (Umthengisi).

Okokuqala kuyimfuneko ukunciphisa imingcipheko mali enxulumene lo yokunyuka kweendleko yentengo esicetywayo. Kulo mzekelo, ukungalingani best ixabiso kuyibiyela iinketho ziya kuba:

• athengise ukhetho abeke;
• kuthengwe mvumelwano amakamva okanye umnxeba ukhetho.

Kwimeko yesibini, le meko iphambene malunga - umthengisi kuyimfuneko ukuze bazikhusele ekukhubekeni kunamaxabiso entengiso iimpahla. Ngako oko, kukho iindlela kuyibiyela abhalwe:

• ngokuthengisa lekusasa;
• ukuthenga wabeka ukhetho;
• ukuthengiswa umnxeba ukhetho.

Isicwangciso kufuneka bayiqonde ezithile izixhobo ezithile kunye ukuchaneka izicelo zazo ukuze kufikelelwe isiphumo ezinqwenelekayo. Njengomgaqo, zonke kuyibiyela izicwangciso ezisekelwe kwinto yokuba ikamva kunye nexabiso ndawo ke impahla ziyahluka phantse ngaxeshanye. Oku kwenza kube lula ukuba abuyekeze ilahleko amakamva zorhwebo ezenziweyo evela kwintengiso yempahla ngokwenene.

Umahluko phakathi ixabiso emiselwe otyalayo ukuya kwimveliso yokwenene, kwaye ixabiso yesivumelwano amakamva samkelwe njenge "isiseko". ixabiso layo ngokwenene ixhomekeke parameters ezifana umahluko umgangatho impahla, izinga lenzala, iindleko impahla kunye neemeko zokugcina. Ukuba yokugcina izinto ezinxulumene iindleko ezongezelelweyo, isiseko yi-HIV (ioli, igesi, izinyithi non-ayoni), kwaye kwezi meko apho ubunini beempahla de ukutshintshwa kwayo kumthengi kuzisa ingeniso eyongezelelweyo (umzekelo, amatye anqabileyo) iya kuba mibi. Kuyabonakala ukuba ixabiso layo ayikho rhoqo kwaye kaninzi kunciphisa njengoko osondela ixesha lesivumelwano amakamva. Noko ke, ukuba iimpahla wokwenene amqunrhu ngesiquphe ukwanda (kwerandi) imfuno, imarike ukuze zibe kwimeko enjalo, xa ixabiso yokwenene iya kuba amakamva kakhulu ngakumbi.

Ngoko ke, xa kusenziwa, nkqu inqubo engcono alusoloko lusebenza - kukho imingcipheko yokwenene ezinxulumene notshintsho ngokukhawuleza kwi "isiseko", eseyiphantse nzima Nokwethisa ngokusebenzisa bengafuni.