问题如下:
Which of the following is most likely to be a destabilizing consequence of speculation using derivatives?
选项:
A.Increased defaults by speculators and creditors
B.Market price swings resulting from arbitrage activities
C.The creation of trading strategies that result in asymmetric performance
解释:
A is correct.
The benefits of derivatives, such as low transaction costs, low capital requirements, use of leverage, and the ease in which participants can go short, also can result in excessive speculative trading. These activities can lead to defaults on the part of speculators and creditors.
B is incorrect because arbitrage activities tend to bring about a convergence of prices to intrinsic value. C is incorrect because asymmetric performance is not itself destabilizing.
老师,收益和亏损是不对等,为什么不会导致市场的不稳定?