Перспективы введения новых деривативов на белорусском биржевом срочном рынке

Abstract

О внедрении и развитии инструментов и базисных активов биржевого срочного рынка. Анализируются популярность деривативов в мировой практике и на российском срочном рынке, востребованность потенциальных базовых активов на белорусском наличном (спот) рынке и данные о товарах белорусских производителей, наиболее подверженных рискам.

The article analyzes the popularity of derivatives in the world and on the Russian derivatives market, the demand for goods on the Belarusian spot market and the Belarusian goods that are most exposed to risks in the context of Russia’s accession to the WTO. These data have enabled to identify the instruments and underlying assets, the most prospective for the introduction and development on Belarus’s foreign exchange-and-stock derivatives market. The author comes to the conclusion that currently there is no need to introduce new futures on Belarus's foreign exchange-and-stock derivatives market. After the current futures have become liquid, it will be necessary to start introducing options on them and developing interest rate instruments. The most promising underlying assets for the introduction on the Belarusian commodity derivatives market are ferrous metals and products made from them as well as timber products. To be able to implement effective hedging of risks on Belarus’s foreign exchange-and-stock derivatives market, according to the author, it is necessary to introduce options on all the liquid futures.