Development of the financial markets.The purpose of the development of the financial markets.Financial markets are an important element of the economic system as a mechanism to propel economic activity to be carried out smoothly as people with money and people who want to come to meet and agree on loan or trading of securities or other instruments, so between formats. Development of the financial markets, it is intended to let financial markets can act as a financial intermediary that is effective. The financial market that can act effectively would require depth and width, that is, with issuers (supply side) to a variety of causes, there are many items to choose from and credit risks that are different. At the same time, investors (demand side) and a variety of categories that would make the demand for yield and risk characteristics that are different. Issuers and investors in every conceivable category To view multiple market direction, thus making a change of trading financial assets are choosing. The market's flexibility and can accommodate large amounts of transactions without a price. How financial markets such as the is considered to have high liquidity. Because the instrument can be traded to change hands as soon as possible at very reasonable prices. In addition, a system of payment of the price and delivery of effective as the major contributors to the cost of a transaction under the. In addition Financial markets with high liquidity. The bot can use financial markets as a channel for monetary policy, and transmission of such policies to the economy as a whole in order to ensure that interest rates and inflation target is met. It is for this reason that the BOT and relevant agencies have jointly developed financial markets in order to achieve the objectives mentioned above.The elements of the financial markets.Financial markets can be divided according to the objectives and forms of transaction has multiple sections, with each section having a relationship, and are closely linked together. Both sides yields the player Transaction quantity and level of development.1. foreign currency market is a market for foreign exchange trading. In General, in the Over-the-Counter (OTC) style, where the action will be in Thai commercial bank registered and permitted by BOT acting foreign exchange with customers to facilitate investment and trade between the countries. Both foreign and Thai commercial banks are major players in this market, the foreign exchange transaction in Thai under the Act to control the exchange of 13 original rules 2485 (1942) (2497 (1954)) includes Ministry officer announced foreign exchange controls and.A circular exchange control officer involved in General, the type of foreign currency transaction contains the transaction immediately. (Spot) transactions in advance (forward) transactions in a foreign stamp payroll sawo (foreign exchange swap) and foreign currency derivative transactions, such as Swaps and Cross Currency FX Options financial instruments of foreign markets, such as FX Swap is closely related to the financial instruments in the money market. Such as Interbank Repo and because it is a tool used in short-term loans since July 2, 1997, etc. Thai country changed the rate system Floating exchange (Managed Float), Thai baht, compared with various foreign currencies determined by market forces based on supply and demand in foreign markets, both domestic and foreign, and can change up and down based on economic fundamentals.2. money market as the market for loans and short-term investments not exceeding 1 year to manage liquidity in the money market transactions are short-lived, mainly including a loan transaction unsecured (Clean Loan) between the Bank. Purchase-sale of short-term debt instruments such as bonds, Treasury bills, promissory notes, and the bot, bills of Exchange and return purchase transactions (Repurchase Agreement, or Repo), which breaks down the transactions that the bot made to a financial institution that is a Primary Bilateral Repo transactions referred to Dealers and public documents of transaction do you.Between each other. Also known as purchase transactions back in the private sector or Private Repo, etc in the year 2547 (2004) bot is pushing to create a line reference interest rate for interbank loans or short-term BIBOR (Interbank Offered Rates Bangkok) for use as a reference rate for borrowing transactions in the money market as well as a reference rate for instruments with floating interest rates. (Floating rate note) with, in addition to commercial banks and other financial market players, including other financial institutions, large companies, large State enterprises, business.3. the bond market is the market for funding, and long-term savings that are longer than 1 year by issuing debt (Debt Securities or Bonds) debt issuers and investors will have the same relationship as the receivables and Payables. The investors will receive compensation at the rate of rupdokbia according to the schedule, and clearly. And get back the principal when the bond is due.Issuers of debt sales to fundraising (Issuer) is treated as a sale of debt in the first market (Primary Market) best buy debt that has been issued to an investment or savings (Investment) achieved by buying directly from the first on the market, or you can buy it from other investors, known as trading instrument flight.In the secondary market. (Secondary Market) debt can be divided according to the characteristics of the issuer as a 2 parent categories: public sector debt and private sector debt instruments. It can be issued as a debt and local currency or foreign currency only. In addition, they can also choose how to pay interest on debt, such as a fixed interest rate (Fixed Rate Bond) floating rate (Floating Rate Bond) by reference to an index (Index Linked Bond) or a reference to inflation (Inflation Linked Bond), etc., there are also factors that.Chop the operators consider the characteristics of the bond will be issued in several respects, such as global interest rates. Inflation The needs of investors. The purpose of the net cash flow and funding the issuer expects to receive in the future, etc. The base of players in the bond market relatively better players in financial markets. In addition to the financial institution institution and organization size.
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