Zomwe muyenera kudziwa zokhudza kusinthana kwa ndalama?

Kusinthana kwandalama ndikochokera kofala kwambiri m'mabizinesi angongole. Mabungwe akawunika ngati mankhwalawa ndi oyenera kwa iwo, amalingalira zinthu zosiyanasiyana, kuyambira pakukonza zamalonda mpaka kuwerengera ndalama. Komanso, tsogolo la banki liri pachitetezo ndi kusiyanasiyana kwa ma portfolio za ngongole. Msika wosinthira ndalama padziko lonse lapansi utenga gawo lalikulu pakusinthaku.

M'nkhaniyi, ndikukufotokozerani zofunikira zomwe muyenera kudziwa zokhudza kusinthana kwa ndalama. Koma choyamba, apa pali maphunziro olipidwa omwe amakulolani kutero yambani ndi maphunziro apa intaneti.

Kodi kusinthana kwa ndalama ndi chiyani

Kusinthana kwa ndalama ndi mgwirizano wapakati pa maphwando awiri kuti asinthane kayendetsedwe ka ndalama zangongole kuchokera ku gulu lina kupita ku lina mu ndalama zosiyana. Amalola makampani kuti agwiritse ntchito misika yayikulu yapadziko lonse bwino chifukwa amapereka ulalo wophatikizira pakati pa chiwongola dzanja m'maiko osiyanasiyana otukuka.

Kusinthana kwa ndalama kumangotanthauza kusinthanitsa mayendetsedwe a ndalama mu ndalama imodzi ndi ndalama zina pamitengo yokhazikitsidwa.

Mwachitsanzo, kampani ikhoza kuchita pangano ndi hedge bank kuti ilandire ndalama inayake ya USD pa chiwongola dzanja chokhazikika kuti ilipire ndalama zongoyerekeza za EUR pa chiwongola dzanja china. Ndikofunika kuzindikira kuti gawo lililonse la malonda likhoza kukhala lokhazikika kapena loyandama.

Monga chotengera chilichonse cha OTC, zochitika izi ndizosintha mwamakonda. Nthawi zina, pamakhala kusinthana koyambirira. Kwa zina, pali kusinthana komaliza. Pafupifupi nthawi zonse pali chiwongola dzanja chanthawi yochepa, chomwe chingaphatikizeponso kusinthana koyenera. Tchati pansipa chimapereka chitsanzo chofanana.

Mbiri yakale ya swaps

Kusinthaku kunayamba m'zaka za m'ma 1960 pamene FED (banki yapakati ya US) inalowererapo msika wogulitsa ndalama zakunja kuti ithandizire dolayo posinthana ma greenbacks kuti apeze zizindikiro ndi Bundesbank (banki yayikulu ya Germany). A FED anali atalonjeza kuti kusinthana kosinthika (kubwereranso kwa zizindikiro ndi kubwezeretsa madola) kudzachitika pa tsiku lokhazikitsidwa pasadakhale.

Chifukwa chiyani mumagwiritsa ntchito kusinthana kwa ndalama?

Ma swaps amagwiritsidwa ntchito ndi ena omwe amagulitsa ndalama ngati zida zongopeka pobetcha pakusintha kwamitengo yamisika yosiyanasiyana. Chifukwa chake mupeza kusinthana pandalama, pamitengo, pagawo, pazida zopangira, ndi zina.

Nkhani yoti muwerenge: Zonse zokhudza msika wogulitsa

Kusinthana kuyenera kuphatikizira zinthu monga ndandanda, nthawi, tsiku loyambira, mtengo wamtengo wokhazikika, mtundu wazomwe zili pansi, kuchuluka kwadzina, maziko a kuwerengetsera ndi mafotokozedwe a mtengo wosinthika.

Sinthani Chitsanzo

Tiyeni titenge chitsanzo kuchokera ku kampani yaku US yomwe tiyitcha Acme Tool & Die. Acme adapeza ndalama popereka Eurobond yopangidwa ndi Swiss franc yokhala ndi malipiro okhazikika apakati pachaka a 6% pa 100 miliyoni Swiss francs.

Poyamba, kampaniyo imalandira ndalama zokwana 100 miliyoni za Swiss francs kuchokera ku ndalama za Eurobond (kunyalanyaza zochitika zilizonse kapena ndalama zina) ndipo zimatha kugwiritsa ntchito ndalama za Swiss francs kuti zithandizire ntchito zake ku United States.

Nkhani yoti muwerenge : Momwe mungapangire chithunzi chamtundukuposa bizinesi ?

Popeza nkhaniyi ikuthandizira ntchito zaku US, zinthu ziwiri zikuyenera kuchitika: Acme ikuyenera kusintha ma 100 miliyoni aku Swiss francs kukhala madola aku US, ndipo ingakonde kulipira ngongole yake yolipira makuponi mu madola aku US. miyezi isanu ndi umodzi iliyonse.

Kampaniyo imatha kusintha ngongole yaku Swiss franc kukhala ngongole ngati dola yaku US posinthana ndi First London Bank.

Amavomereza kuchita malonda 100 miliyoni Swiss francs koyambirira ndi madola aku US, komanso kulandira malipiro akuponi mu Swiss francs pamasiku omwewo omwe amalipira makuponi akuyenera kubwereketsa ndalama za Acme Eurobond ndikulipira ndalama zolipirira makuponi mu madola aku US olumikizidwa ndi indexer ndikusinthanitsanso dollar yaku US kukhala Swiss. franc pa kukhwima.

Ntchito za Acme ku US zimapanga ndalama zaku US omwe amalipira index index mu madola aku US. Mwanjira iyi, kusinthana kwa ndalama kumagwiritsidwa ntchito kutchinga kapena kutseka mtengo wowonjezera wa nkhani ya Eurobond, chifukwa chake mitundu iyi yosinthira nthawi zambiri imagulitsidwa ngati gawo la pulogalamu yonse yopereka ndi bungwe lalikulu lopereka ndalama.

Kusinthasintha

Mosiyana ndi kusinthana kwa chiwongola dzanja, komwe kumapangitsa makampani kuyang'ana kwambiri phindu lawo pobwereka ndalama imodzi pakanthawi kochepa, kusinthana kwa ndalama kumapereka mwayi kwamakampani kuti agwiritse ntchito mwayi wawo wofananira nawo m'misika yawo.

Amaperekanso kuthekera kogwiritsa ntchito maubwino pamtundu wandalama ndi kukhwima. Kupambana kwa msika wosinthira ndalama ndi kupambana kwa msika wa Eurobond kumalumikizidwa momveka bwino.

Chiwonetsero

Kusinthana kwandalama kumabweretsa chiwopsezo chachikulu changongole kuposa kusinthana kwa chiwongola dzanja. Izi zimachitika chifukwa cha kusinthana ndi kugulitsanso ndalama zodziwikiratu. Makampani ayenera kupeza ndalama zoperekera malingaliro kumapeto kwa mgwirizano ndipo akuyenera kusinthanitsa malingaliro a ndalama imodzi ndi ina pamtengo wokhazikika.

Miyezo ya msika ikachulukirachulukira pamtengo wamakontrakitalawa, m'pamenenso kutayika kapena kupindula kumakulirakulira.

Kuwonekera kothekera uku kumakulitsidwa pamene kusakhazikika kumawonjezeka pakapita nthawi. Mgwirizano ukatalikirapo, m'pamenenso ndalama zimakhala ndi mwayi wosuntha mbali zonse za mtengo wosinthira womwe wagwirizana. Izi zikufotokozera chifukwa chake kusinthana kwa ndalama kumapangitsa kuti ngongole zambiri zitheke kuposa kusintha kwa chiwongola dzanja chanthawi zonse.

Mtengo

Kusinthana kwa ndalama kumayamikiridwa kapena kuwerengedwa mofanana ndi kusintha kwa chiwongoladzanja. Izi zimachitika pogwiritsa ntchito kusanthula kotsika kwandalama mutapeza mtundu wa coupon wa ziro wa ma curve osinthira.

Kawirikawiri, kusinthanitsa ndalama poyamba kumachita malonda popanda phindu lililonse. Pa moyo wa chidacho, kusinthanitsa ndalama kumatha kupita "mu-ndalama", "kunja kwa ndalama" kapena kungakhale "mu-ndalama".

Mitundu ya Swaps

Zida zomwe zimasinthidwa posinthana siziyenera kukhala zolipira chiwongola dzanja. M'malo mwake, pali mitundu ingapo yamabizinesi achilendo. Mapangano odziwika bwino amaphatikizapo kusinthana kwa ndalama, kusinthana kwa ngongole, kusinthana kwa zinthu, ndi kubweza kwathunthu.

Kusintha kwa Chiwongola dzanja

Mtundu wosavuta komanso wodziwika bwino wakusinthana umadziwika kuti vanila yosavuta kusinthana. M'kusinthanitsa koteroko, Chipani A chimavomera kulipira Chipani B chiwongola dzanja chokhazikika, chodziwikiratu chiwongoladzanja pa wamkulu wodziwika kwa nthawi yodziwika pamasiku enieni.

Nkhani yoti muwerenge: Momwe mungapangire ndalama pabulogu yanu ndi zolemba zothandizidwa?

Chifukwa chake, Gulu B likuvomera kupereka malipiro aliwonse ku Party A pa chiwongola dzanja chosinthika ndi wamkulu wanthawi yomweyo pamasiku omwewo.

Mukusinthana kwachiwongola dzanja kwachiwongola dzanja, komwe kumadziwikanso kuti kusinthana kwa chiwongola dzanja cha vanila, ndalama zomwezo zimagwiritsidwa ntchito kulipira ndalama zonse ziwiri. Madeti olipira omwe adakonzedweratu amatchedwa masiku omaliza, ndipo nthawi yomwe ili pakati pawo ndi nthawi yolipira.

Popeza ma swaps ndi makontrakitala amunthu, zolipira zitha kupangidwa mwezi uliwonse, kotala, chaka chilichonse kapena nthawi iliyonse yomwe maphwando amasankha.

Chitsanzo cha kusintha kwa chiwongola dzanja

Tiyerekeze kuti mabungwe awiri akufuna kutembenuza "mwachinyengo" zolipirira chiwongola dzanja. Kampani A ikhoza kusinthana ndi chiwongola dzanja chosinthana ndi chiwongola dzanja chokhazikika chololeza, mwachitsanzo, kupeza ngongole ina.

Mnzake, Company B, angakonde kusintha zolipira zake kukhala zoyandama, kutengera chiwongola dzanja chochepa.

Kusinthana kwa ndalama

Posinthana ndalama, magulu awiriwa amasinthanitsa ndalama zazikulu ndi chiwongola dzanja pangongole zomwe zimapangidwa mundalama zosiyanasiyana. Mosiyana ndi kusintha kwa chiwongoladzanja, wamkulu nthawi zambiri sakhala ndalama zongoyerekeza koma amasinthidwa ndi chiwongola dzanja. Kusinthana kwa ndalama kumatha kuchitika m'maiko osiyanasiyana.

Mwachitsanzo, Argentina ndi China adagwiritsa ntchito kusinthaku, makamaka kuti China ikhazikitse nkhokwe zake zakunja.

Monga chitsanzo chachiwiri, ngakhale US Federal Reserve yachita nawo njira yosinthira ndalama ndi mabanki apakati aku Europe. Izi zidachitika pavuto lazachuma la 2010 ku Europe, lomwe cholinga chake chinali kukhazikika kwa euro yomwe idagwa potsatira vuto la ngongole yaku Greece.

Kusinthana Ndalama Chitsanzo

Chitsanzo chodziwika kwambiri cha mtundu uwu wa kusinthana chinalowa mu 1981, pamene Banki Yadziko Lonse idalandira ngongole ya USD, kenaka inasinthana ndi malipiro ake a dola ndi kampani ya ku America IBM posinthana ndi chivundikiro cha ngongole. DM) ndi Swiss francs (CHF).

Kusinthana kumeneku kunapangitsa kuti Banki Yadziko Lonse iwonjezere kuwonekera kwa ndalama za Switzerland ndi Germany, zomwe zinali ndi chiwongoladzanja pakati pa 8% ndi 12%, poyerekeza ndi 17% ku United States - pamene IBM inatsekereza maudindo ake mu ndalamazi.

Kusintha kwa Kubwerera Kwathunthu

Pazambiri zosinthana zobweza, kubweza kwathunthu kwa katundu wina kumasinthidwa ndi chiwongola dzanja chokhazikika. Phwando lomwe lidzapereke chiwongolero chokhazikika kuzinthu zomwe zili pansi, kaya ndi stock kapena index.

Mwachitsanzo, wochita malonda akhoza kulipira mtengo wokhazikika ku phwando kuti agulitse chiwongoladzanja chamtengo wapatali kuwonjezera pa malipiro a gawo kuchokera ku dziwe la masheya.

Kusinthana kwazinthu

Kugulitsa mtengo wazinthu zoyandama ndizomwe zimawonedwa pakusinthana kwazinthu. Tengani chitsanzo mtengo wamafuta a Brent crude oil, pamtengo womwe umakhazikitsidwa pa nthawi yomwe mwagwirizana. Monga chitsanzo chikuwonetsa, kusinthana kwazinthu nthawi zambiri kumaphatikizapo mafuta osapsa.

Ngongole-za-equity kusinthana

Monga momwe dzinalo likusonyezera, kusinthana kwa ngongole kumakhudzanso kusinthanitsa kwa equity ndi ngongole ndi mosemphanitsa. Pochita ndi kampani yogulitsa pagulu, izi zitha kutanthauza kusinthanitsa ma bond pamasheya. Kusinthana kwa Ngongole ndi njira yomwe kampani ingakulitsirenso ngongole zake komanso kusamutsa likulu lake.

Kusintha kwachiwopsezo cha ngongole

Kusinthana kwangongole kumapangidwa ndi mgwirizano wa gulu limodzi kuti alipire ndalama zonse zomwe zidalandidwa kuphatikiza chiwongola dzanja cha ngongole kwa wogula yemwe ali pachiwopsezo cha ngongole, malinga ngati wobwerekayo walephera kubweza ngongoleyo. Kusawongolera bwino kwachiwopsezo komanso kukwezedwa kwakukulu pamsika wa ngongole ndizomwe zidayambitsa vuto lazachuma la 2008.

Chitsanzo cha a kusintha kwa ngozi ya ngongole

Tiyerekeze kuti posinthanitsa ndi chiwongola dzanja chowoneka bwino (mtengo wapansi), thumba la penshoni "FP" lidaganiza zopanga ndalama pobwereketsa ndalama zambiri ku kampani ya ABC. Kuti achepetse chiwopsezo chake, FP (wogula) aganiza zotsegula mgwirizano wosagwirizana ndi ngongole ndi kampani ya inshuwaransi (wopereka) kuti asinthane ndi kachigawo kakang'ono ka chiwongoladzanja chomwe adalandira pakugulitsa kwake.

Ndi kusinthaku, FP imatha kudziteteza ku zosakhazikika (zosalipira) za kampani ya ABC, posamutsa udindo wolipira zotayika ku kampani ya inshuwaransi.

Mitundu ina ya swaps

• Kusintha kwa maziko: kumakupatsani mwayi wosinthana mitundu iwiri yolondolera kumitengo yakanthawi kochepa, mundalama imodzi kapena mumitundu iwiri yosiyana
• Kusintha kwa chiwongola dzanja chokhazikika: zimapangitsa kuti zikhale zotheka kusinthanitsa chiwongoladzanja chokhazikika pa chiwongoladzanja chakanthawi kochepa poyerekezera ndi chiwongoladzanja chapakati kapena nthawi yayitali.
• Kusintha kwa asset: ndikuphatikizana pakati pa chiwongola dzanja ndi chiwongola dzanja chokhazikika ndikupanga chiwongola dzanja chopanga choyandama.
• Kusinthana konse kobwerera: amakulolani kusinthanitsa ndalama ndi chiopsezo cha kusintha kwa mtengo wa zinthu ziwiri zosiyana panthawi yoperekedwa.
• Kusintha kwa inflation : kusinthanitsa kwa mtengo wokhazikika kapena wosinthika motsutsana ndi inflation
• Kusinthana kwa Equity: imagwira ntchito mofanana ndi kusintha kwa chiwongoladzanja
• Kusintha kwa Curve: kusinthana kwa chiwongola dzanja (kusiyana motsutsana ndi kusinthika) kubetcha kwa ndalama imodzi pamawonekedwe a curve yokolola.

Kusiyana pakati pa kusintha kwa ndalama ndi kusintha kwa chiwongola dzanja

Kusinthana kwa chiwongoladzanja kumakhudzanso kusinthana kwa ndalama zomwe zimagwirizana ndi chiwongola dzanja pamtengo womwe wasankhidwa. Palibe kusinthana kongoganizira koyambira kontrakiti, kotero kuti ndalama zongoyerekeza ndi zofanana mbali zonse zandalama ndipo zimagawidwa mu ndalama zomwezo. Kusinthanitsa kwakukulu ndikosowa.

Nkhani yoti muwerenge : Kodi mungapangire bwanji chithunzi cha kampani?

Pankhani ya kusintha kwa ndalama, komabe, kusinthanitsa kwakukulu sikumakhala kofunikira chifukwa cha kusiyana kwa ndalama. Kusinthana kwa mtengo wamtengo wapatali pamtengo wamtengo wapatali kumachitika pamitengo ya msika, nthawi zambiri pogwiritsa ntchito mtengo womwewo pakusamutsira koyambirira ngati womwe umagwiritsidwa ntchito pakukula.

Ubwino ndi kuipa kwa swaps

Ma swaps amagwiritsidwa ntchito osati pongotchinga ma hedging omwe amafuna kuletsa kapena kuchepetsa kuwonekera kwa chiwopsezo cha kampani kapena munthu, komanso pazongopeka. Chotsalira chachikulu cha swaps chimakhalabe chokhudzana ndi chiwopsezo cha anzawo.

Ndizotheka nthawi zonse kuti wobwereketsayo samakwaniritsa zolipirira zake. Posankha kusinthana ndi zolinga zongopeka, mumakhalanso pachiwopsezo chokumana ndi zotayika pomwe zoneneratu zanu sizili zolondola.

Kutsiliza

Kusinthana ndi chida chovuta chandalama chomwe chimagwiritsidwa ntchito makamaka ndi akatswiri azachuma. Njirayi yomwe ikupezeka pamsika wandalama ndi chinthu chochokera pazachuma chomwe chimalola kubweza ndalama ndi kukhathamiritsa ngongole.

Amagwiritsidwa ntchito ndi amalonda ena kupanga phindu lanthawi yayitali la forex pogwiritsa ntchito mwayi wosiyanitsa chiwongola dzanja pakati pa ndalama kudzera mu " kuchita malonda ". Komabe, ogulitsa malonda akulangizidwa kuti afune kumvetsetsa njira zoyambira poziphatikiza mu mbiri yanu.

Koma musananyamuke, nayi maphunziro apamwamba omwe angakuthandizeni kuwongolera ndalama zanu.