场外金融衍生交易破产法特别保护机制法律问题研究

发布时间：2019-06-20 19:09

【摘要】：由于场外金融衍生交易的高风险性、庞大的规模交易量等特征,为防止交易一方在发生破产事件时的损失和风险通过交易对手扩散至整个金融市场而引起系统性风险,ISDA组织发布了一系列标准化协议,通过终止净额结算、单一协议和抵销制度赋予了合约中的非破产方拥有其特别权利。伴随经济全球化的发展趋势,我国的金融衍生交易市场也日渐规模化。一方面,正是由于我国金融衍生品市场的快速发展的不断需求带动了我国法律界人士对金融衍生产品提供特别保护引发了系列研究探讨；而另一方面来看,我国的金融衍生品市场发展不成熟的现状也同样制约了我国破产法领域对此问题的系列研究。本文共分以下四个章节：第一章介绍场外金融衍生交易相关概念性问题,从场外金融衍生交易的风险性论述为出发点,突出其交易的破产风险特点,同时对于其解决机制予以详细解析。通过对净额结算制度和信用风险制度的介绍,为下一章节关于介绍ISDA主协议做铺垫。第二章本章以ISDA主协议的协议安排制度为切入要素,通过合同对金融衍生产交易提供特别保护的协议安排,详细论述ISDA主协议中终止净额结算与抵销制度及其他关于与破产法上的冲突问题,通过单一协议、终止净额结算和抵销制度,对场外金融衍生交易的非破产一方当事人提供特别保护机制。第三章本章以美国的破产法对金融交易安全港制度为研究对象,通过美国交易安全港的概念、适用范围、自动冻结制度豁免研究等制度的详细解析,对美国现行制度进行总结,为我国提供借鉴。第四章根据上述内容的解析及对国外制度的借鉴,对我国目前有关于场外金融衍生交易的发展问题做一般性分析,总结我国破产法对衍生交易的若干规定,对于应怎样继续完善场外金融衍生交易的破产法法规做相关论述,提出适用我国法律法规的若干建议。
[Abstract]:Due to the high risk and large volume of over-the-counter financial derivative transactions, in order to prevent the loss and risk of the transaction party from spreading to the whole financial market through the counterparty, ISDA issued a series of standardized agreements, which gave the non-bankrupt party special rights by terminating the net settlement, the single agreement and the set-off system. With the development trend of economic globalization, China's financial derivatives trading market is also increasingly large-scale. On the one hand, it is precisely because of the continuous demand of the rapid development of China's financial derivatives market that the legal profession of our country to provide special protection for financial derivatives has triggered a series of research and discussion; on the other hand, the immature development of China's financial derivatives market also restricts the series of research on this issue in the field of bankruptcy law of our country. This paper is divided into the following four chapters: the first chapter introduces the conceptual problems related to over-the-counter financial derivatives transactions, from the risk of over-the-counter financial derivatives transactions as a starting point, highlights the bankruptcy risk characteristics of the transactions, and analyzes its solution mechanism in detail. Through the introduction of net settlement system and credit risk system, this paper paves the way for the next chapter on the introduction of ISDA master agreement. The second chapter takes the agreement arrangement system of ISDA master agreement as the entry element, provides the special protection agreement arrangement to the financial derivative production transaction through the contract, discusses in detail the termination net settlement and set-off system and other conflicts with the bankruptcy law in the ISDA main agreement, terminates the net settlement and set-off system through a single agreement, and provides the special protection mechanism to the non-bankrupt party to the over-the-counter financial derivative transaction. The third chapter takes the American bankruptcy law to the financial transaction safe port system as the research object, through the American transaction safe port concept, the applicable scope, the automatic freezing system exemption research and so on the detailed analysis, carries on the summary to the United States current system, provides the reference for our country. According to the analysis of the above contents and the reference of foreign systems, the fourth chapter makes a general analysis of the development of over-the-counter financial derivative transactions in our country, summarizes some provisions of our bankruptcy law on derivative transactions, discusses how to continue to perfect the bankruptcy laws and regulations of over-the-counter financial derivatives transactions, and puts forward some suggestions on how to apply the laws and regulations of our country.
【学位授予单位】：南昌大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：D922.291.92

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