Blockbuster Recommendation & Book Giveaway丨"OTC Derivatives Knowledge Reader" was officially launched

Since the 90s of the last century, the mainland OTC derivatives business has made great progress, and has played an active role in optimizing the supply of financial resources, serving the development of the real economy, improving the level of market risk management, and expanding the opening up of the financial sector.

However, with reference to the experience of the international market, there is still huge room for the development of the OTC derivatives business in the mainland, and the public, investors and securities practitioners are still in the initial stage of acceptance and understanding of the OTC derivatives business, so it is necessary for the industry to give full play to its professional strength, strengthen the education of OTC derivatives investors, enhance the market awareness of OTC derivatives business, and promote the healthy and standardized development of the OTC derivatives market.

At the beginning of 2023, the Securities Association of China and China Securities Inter-Agency Quotation System Co., Ltd. organized the members of the OTC Market and Derivatives Business Professional Committee: Guotai Junan Securities, Huatai Securities, Shenwan Hongyuan Securities, CICC, and CITIC Securities to start the compilation of the OTC Derivatives Knowledge Reader.

As a primer, the content of this book is based on the perspective of investor education and protection, and focuses on the knowledge of OTC derivatives in the securities industry, so as to facilitate readers of different professional levels to learn and learn from it.

In the process of compiling the OTC Derivatives Knowledge Reader, it has received strong support from many industry experts. Members of the OTC Market and Derivatives Business Committee of the Securities Industry Association also sent a message to the reader:

Zhao Hengheng

Vice Chairman of the OTC Market and Derivatives Business Professional Committee, Deputy General Manager of China Securities Quotation

OTC derivatives play an important role in activating the capital market and controlling financial risks, and are a powerful tool for financial powers. In this context, the Securities Association of China and China Securities Inter-Agency Quotation System Co., Ltd. launched the "OTC Derivatives Knowledge Reader" at the right time. This book discusses the development of OTC derivatives in China in detail from various aspects such as international experience, regulatory requirements, domestic status, specific business, counterparties, and business synergy. This book is both theoretical and practical, and is a "microcosm" of the development of OTC derivatives in China. I highly recommend all derivatives practitioners, counterparties, and friends who are interested in OTC derivatives to study this book carefully. We will definitely benefit from this and contribute to the high-quality development of finance.

Xue Jirui

Vice Chairman of the OTC Market and Derivatives Business Professional Committee, and member of the Executive Committee of CITIC Securities

OTC derivatives have gradually developed along with the construction of a multi-level capital market system in mainland China, and are an important tool to meet the needs of investors in terms of investment, asset allocation, and risk management. Compared with the spot market, the domestic OTC derivatives market has a short development time and is relatively complex, so for market participants and practitioners, how to effectively use derivatives, what kind of risk culture to establish, and how to improve the function of the market, etc., still need to continue to learn, think and practice. The OTC Derivatives Knowledge Reader provides a panoramic analysis and introduction to China's OTC derivatives market, which is more practical and can play a good role in helping practitioners and market participants to familiarize themselves with and understand derivatives.

Chu Gang

Vice Chairman of the OTC Market and Derivatives Business Committee, former Chief Operating Officer of CICC

The mainland OTC derivatives business started in the 90s of the last century, and has developed greatly in recent years, especially in recent years, the market size has doubled. However, due to the professionalism, complexity and rapid iteration of OTC derivatives, ordinary investors and even some financial practitioners still have a relatively limited understanding of them. The OTC Derivatives Knowledge Reader is jointly compiled by professional practitioners from industry institutions, which organically combines the professional theory of OTC derivatives with the practical experience of the front line of the business, which helps to enhance our understanding of OTC derivatives, hopes to be beneficial to the majority of readers, and helps the healthy and steady development of the OTC derivatives market.

Luo Dongyuan

Vice Chairman of the OTC Market and Derivatives Business Professional Committee, Member of the Party Committee, Vice President and President of the Institutional and Trading Business Committee of Guotai Junan Securities

In recent years, China's OTC derivatives market has flourished and become an important part of the modern capital market with Chinese characteristics, providing a wealth of financial tools to serve the high-quality development of the real economy, help residents manage their wealth, and promote the high-level opening of the capital market. The creation of iterative products, the gradual improvement of the regulatory system, the increasingly standardized operating mechanism and the continuous enrichment of participants are also continuing to shape the new financial industry. China's OTC derivatives market still has a lot of room for development, but it also faces many challenges, which require investors and practitioners to keep learning and exploring. The OTC Derivatives Knowledge Reader condenses professional forces in the industry and systematically sorts out the basic knowledge of OTC derivatives, the domestic regulatory system and market structure, the application scenarios and business models of various types of derivatives instruments, etc., with rich and comprehensive content, which is not only suitable for investors to get started, but also provides systematic reference for practitioners.

Tang Jun

Vice Chairman of the OTC Market and Derivatives Business Professional Committee, Member of the Executive Committee of Shenwan Hongyuan Securities, and General Manager of the Financial Innovation Headquarters

Promoting the high-quality development of the mainland OTC derivatives market is a necessary part of the construction of a financial power. In the past decade, the mainland OTC derivatives market has grown from scratch, and the innovative development of the business has highlighted the political and people's nature, effectively enriched and improved the risk management function of the capital market, and improved the quality and efficiency of serving the real economy, which has become an indispensable and important part of the mainland capital market ecology. The "OTC Derivatives Knowledge Reader" systematically introduces the basic structure, business types and functional value of the mainland OTC derivatives market, hoping to help improve the understanding of OTC derivatives by market players, jointly support and promote the high-quality development of the derivatives industry, and do a good job in the "five major articles".

Hu Xisha

He is a member of the OTC Market and Derivatives Business Professional Committee, and the general manager of the Financial Innovation Department of Huatai Securities

The OTC derivatives market is an important part of the financial market, which is of great significance to building a financial power and serving the real economy. Due to the complexity of OTC derivatives themselves, it is difficult for investors to get a glimpse of the whole picture, and there is a long way to go to popularize education. This book is a systematic review of the OTC derivatives business, which is the work of many peers working together and integrating the armpits, and also reflects the editorial board's intention to strengthen investor protection and education. This book is both popular and academic, which not only analyzes the principles of OTC derivatives business, but also shows readers the development context and operation logic of the OTC derivatives market.

Dai Bo

He is a member of the OTC Market and Derivatives Business Professional Committee, and the administrative director of the Derivatives Trading Department of China Securities Securities

As a risk management tool, OTC derivatives can play an important role in serving the development of the real economy, helping the transformation of wealth management, enriching the asset allocation of institutional investors, and promoting the balanced development of the market. OTC Derivatives Knowledge Reader For the legal and regulatory system related to OTC derivatives, trading varieties and their risk-return characteristics, market structure and related business models, a relatively comprehensive and systematic combing has been made, which provides a good basic knowledge framework for market participants to understand the relevant content of OTC derivatives, and can help all parties in the market work together to promote the OTC derivatives market to play its due role, meet the rich and appropriate asset allocation and risk management needs of investors, and continuously improve the infrastructure construction, so as to promote the sustainable and healthy development of the OTC derivatives market as an important part of the modern capital market with Chinese characteristics。

Lian Minwei

He is a member of the OTC Market and Derivatives Business Professional Committee and the General Manager of the Derivatives and Trading Department of Industrial Securities

As an important part of the mainland financial market, the OTC derivatives market adheres to the protection of investors as the cornerstone of the development of the industry and enhances investors' sense of gain. However, OTC derivatives are inherently complex and professional, unlike commodities or other financial products, and most of the existing professional books on the market mainly describe the theoretical system and model construction, etc., and lack a reading book that explains the basic logic and mainland practice of OTC derivatives from a broader sense and more dimensions. The Securities Industry Association and China Securities Quotation carefully organized industry experts to build a vivid, easy-to-read but penetrating reading book for investors and industry practitioners, which has both professional theoretical support and real typical practical cases, so that the text is not only a fragmented knowledge transmission, but also helps everyone "build financial intuition and feel the beauty of OTC derivatives"!