金融衍生交易终止净额结算法律问题研究
发布时间：2018-08-01 18:26
【摘要】：金融衍生交易终止净额结算制度作为金融衍生交易双方所签订的金融衍生交易协议中的重要条款,其有助于交易的顺利进行,同时能够使交易双方在交易过程中避免法律风险,同时在违约事件发生时,能够及时确保交易双方的权益不受损害,进而化解金融衍生交易中的信用风险和整体风险。但是在该项制度发挥巨大功能的同时,也不可避免的与我国的《企业破产法》相关法律制度产生了不可调和的巨大冲突,为了顺利引入该项制度安排并使其与我国的法律环境相容,就必须完善立法,使终止净额结算丰富的内涵在我国,以立法的形式最终确立下来,以解决其效力和可执行力的问题,最终使终止净额结算能够从经济、法律层面都能更好地服务于我国的金融衍生交易实践。本文拟从金融衍生交易终止净额结算的角度切入:第一部分对金融衍生品、终止净额结算以及金融衍生品终止净额结算分别作出了具体诠释,同时对终止净额结算制度的法律性质、巨大意义以及其与抵销之间的本质区别进行了分析。第二部分从国际法规入手,分析发达国家以及典型地区金融衍生品终止净额结算的相关立法规定,剖析其对金融衍生品终止净额结算立法采取的立法目的、立法理念、有效解决或者避免该制度与破产法相关规定的冲突的手段等方面,为我国构建金融衍生品终止净额结算立法进行制度借鉴。第三部分结合我国金融衍生品终止净额结算的现状,为了保护金融衍生交易双方合法利益以及落实终止净额结算制度的有效性和可执行性,同时为了促进我国与国际立法趋势相一致,得出我国应完善金融衍生品终止净额结算制度立法。基于经济发展水平的上升、金融衍生品迅速发展、金融衍生交易增多以及现行法律、法规的理念等角度,深度剖析我国金融衍生品终止净额结算立法的细节,为我国未来立法提供依据。最后一部分根据论文对我国未来金融衍生品终止净额结算立法的梳理,转变金融衍生品终止净额结算立法的立法理念,同时构建金融衍生品终止净额结算的立法原则,在这一视角下,探讨如何建立金融衍生品终止净额结算立法基本制度、基本规则及如何实现其可执行性与有效性等难题。
[Abstract]:As an important clause in the financial derivative transaction agreement signed by the parties to the financial derivative transaction, the financial derivative transaction termination net settlement system is conducive to the smooth progress of the transaction and can enable both parties to avoid legal risks in the course of the transaction. At the same time, in the event of default, it can ensure that the rights and interests of both parties will not be damaged in time, and then resolve the credit risk and the overall risk in financial derivative transactions. However, while the system plays a huge function, it inevitably conflicts with the relevant legal system of our country's Enterprise bankruptcy Law. In order to introduce this system arrangement smoothly and make it compatible with the legal environment of our country, we must perfect the legislation, make the rich connotation of the termination net settlement in our country, and finally establish it in the form of legislation. In order to solve the problem of its effectiveness and executive power, the termination net settlement can serve the financial derivative transaction practice of our country better from the economic and legal aspects. This paper intends to start from the perspective of financial derivatives trading termination netting: the first part of the financial derivatives, the termination of netting and financial derivatives to the net settlement of the specific interpretation, respectively, At the same time, it analyzes the legal nature, great significance and the essential difference between the termination of netting system and the set-off. The second part starts with the international laws and regulations, analyzes the relevant legislative provisions of financial derivatives terminating net settlement in developed countries and typical regions, and analyzes the legislative purpose and legislative idea of the financial derivatives termination net settlement legislation. The effective means to resolve or avoid the conflict between the system and the relevant provisions of the bankruptcy law are used for reference for the construction of the net settlement legislation for financial derivatives termination in China. The third part combines the current situation of financial derivatives termination netting, in order to protect the legitimate interests of both parties to financial derivatives transactions and the effectiveness and enforceability of implementing the termination netting system. At the same time, in order to promote the trend of international legislation, it is concluded that our country should perfect the legislation of financial derivatives termination net settlement system. Based on the rising level of economic development, the rapid development of financial derivatives, the increase in financial derivatives transactions and the concept of existing laws and regulations, the details of the legislation on the termination of netting of financial derivatives in China are analyzed in depth. To provide the basis for the future legislation of our country. In the last part, according to the combing of the future financial derivatives termination netting legislation in China, we change the legislative concept of financial derivatives terminating netting legislation, and construct the legislative principle of financial derivatives terminating netting settlement at the same time. From this perspective, this paper discusses how to establish the basic system of financial derivatives termination netting legislation, basic rules and how to achieve its implementability and effectiveness.
【学位授予单位】：辽宁大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：D922.291.92
本文编号：2158455
[Abstract]:As an important clause in the financial derivative transaction agreement signed by the parties to the financial derivative transaction, the financial derivative transaction termination net settlement system is conducive to the smooth progress of the transaction and can enable both parties to avoid legal risks in the course of the transaction. At the same time, in the event of default, it can ensure that the rights and interests of both parties will not be damaged in time, and then resolve the credit risk and the overall risk in financial derivative transactions. However, while the system plays a huge function, it inevitably conflicts with the relevant legal system of our country's Enterprise bankruptcy Law. In order to introduce this system arrangement smoothly and make it compatible with the legal environment of our country, we must perfect the legislation, make the rich connotation of the termination net settlement in our country, and finally establish it in the form of legislation. In order to solve the problem of its effectiveness and executive power, the termination net settlement can serve the financial derivative transaction practice of our country better from the economic and legal aspects. This paper intends to start from the perspective of financial derivatives trading termination netting: the first part of the financial derivatives, the termination of netting and financial derivatives to the net settlement of the specific interpretation, respectively, At the same time, it analyzes the legal nature, great significance and the essential difference between the termination of netting system and the set-off. The second part starts with the international laws and regulations, analyzes the relevant legislative provisions of financial derivatives terminating net settlement in developed countries and typical regions, and analyzes the legislative purpose and legislative idea of the financial derivatives termination net settlement legislation. The effective means to resolve or avoid the conflict between the system and the relevant provisions of the bankruptcy law are used for reference for the construction of the net settlement legislation for financial derivatives termination in China. The third part combines the current situation of financial derivatives termination netting, in order to protect the legitimate interests of both parties to financial derivatives transactions and the effectiveness and enforceability of implementing the termination netting system. At the same time, in order to promote the trend of international legislation, it is concluded that our country should perfect the legislation of financial derivatives termination net settlement system. Based on the rising level of economic development, the rapid development of financial derivatives, the increase in financial derivatives transactions and the concept of existing laws and regulations, the details of the legislation on the termination of netting of financial derivatives in China are analyzed in depth. To provide the basis for the future legislation of our country. In the last part, according to the combing of the future financial derivatives termination netting legislation in China, we change the legislative concept of financial derivatives terminating netting legislation, and construct the legislative principle of financial derivatives terminating netting settlement at the same time. From this perspective, this paper discusses how to establish the basic system of financial derivatives termination netting legislation, basic rules and how to achieve its implementability and effectiveness.
【学位授予单位】：辽宁大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：D922.291.92
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