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外汇远期合约是交易双方(通常为企业与金融机构,如银行或经纪商)之间订立的具有约束力的协议。根据该协议,双方承诺在未来的特定日期,按预先确定的汇率交换一定数量的两种货币。这一汇率称为远期汇率,于合约订立当日确定,而实际的资金交割则在未来的结算日进行。

目的与功能

外汇远期合约的核心目的是对冲不利汇率波动的风险。对于从事国际贸易、经常持有外币计价的应收或应付款项的企业而言,外汇远约为未来交易锁定汇率提供了关键工具。它消除了未来货币波动的不确定性,为预算编制和财务规划带来更高的确定性和可预测性。

远期的核心特点

高度定制化— 与标准化的期货合约不同,外汇远期合约条款可灵活定制,包括交换的名义金额、具体的结算日期(可约定非标准期限的“不规则日期”),以及所涉及的特定货币对。

场外交易(OTC)— 外汇远期合约为双方私下协商达成,不在集中交易所交易。这种双边性质在提升灵活性的同时,也带来一定的风险影响。

交易对手风险— 由于没有中央清算机制,外汇远期合约存在交易对手风险,即一方可能在结算日前无法履行合约义务。

为用户带来的优势

外汇远约为企业管理跨境交易提供了重要优势:

风险管理与可预测性— 有效帮助企业应对汇率波动带来的不确定性和波动性。通过为未来交易锁定当前汇率,企业能够增强现金流和利润率的财务稳定性与可预测性。

成本确定性— 企业可稳定未来成本,不受市场波动影响。进口商能够锁定未来原材料的成本,出口商则可保障未来外币应收账款的价值。

预算有效性— 汇率锁定使企业能够更精确地编制预算,最大限度地减少汇率突然变动可能导致收入或支出出现的意外波动。

定制化对冲方案— 其高度可定制的特性,使其能够完美匹配企业的具体业务需求,提供精准的非标准化外汇风险对冲解决方案。

典型应用场景

外汇远期的常见使用者包括:

进口商/出口商— 用以锁定进口成本或出口收益的本币金额。

持有外币应收/应付账款的企业— 用于管理从发票开具/收到至实际收/付款期间所产生的汇率波动风险。

财务部门 用于管理因跨境投资、贷款或公司间交易产生的货币风险敞口。

通过提供提前锁定汇率的机制,外汇远期已成为企业和金融机构管理货币风险、确保财务稳定的不可或缺的工具,在全球互联的经济环境中发挥着关键作用。

东证期货国际(新加坡)简介

东证期货国际(新加坡)私人有限公司是上海东证期货有限公司的直属全资子公司,也是东方证券股份有限公司的间接控股子公司。

作为持有新加坡金融管理局(MAS)颁发的《资本市场服务许可证》的机构,我司提供全方位资本市场服务,涵盖证券、场内衍生品、场外衍生品及杠杆外汇等多类产品。

东证期货新加坡是亚太交易所、新加坡衍生品交易所以及洲际新加坡交易所的交易和清算会员,为客户提供覆盖国际市场的综合交易服务。

Disclaimer

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