NO.PZ2021061002000058
问题如下:
Monte is an American capital goods producer that manufactures products domestically and supplies products to customers around the world. Recently, the company signed a commercial contract with a British company. The contract stipulates that the company will deliver goods to the company in three months and will receive payment in sterling at that time.
To hedge Monte’s financial risk under the
commercial contract, which of the following statements about the most
appropriate derivative market is accurate?
选项:
A.Both the ETD and OTC markets are
appropriate for Monte to hedge its financial risk.
The OTC market is the most suitable because
of its ability to customize contracts to match the desired exposure profile.
The ETD market is the most suitable because
it provides a standardized contract to match the required exposure profile.
解释:
中文解析
本题考察的是场外市场与场内市场的对比。
场外市场的特点是合约可以根据客户的需求进行定制化,因此可以更好的对冲风险敞口。
而场内市场合约都是标准化的,与客户自身的需求很难完全匹配。
所以对于该公司来说选择场外市场是合适的。
感觉这道题答案有些牵强,虽然OTC可定制,可是不也存在风险吗?那一般什么样子的题目和什么样的情况选择使用ETD,或者两者均可呢?