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The Pricing and Valuation of Swaps

Author

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  • Paunović Jelena

    (Wiener Städti sche osiguranje a.d.o. Belgrade 1 Trešnjinog cveta Street, Belgrade, Serbia)

Abstract

Svopovi su finansijski ugovori izmeu dve strane za razmenu tokova novca razlicitog porekla i koriste se uglavnom kao sredstvo za upravljanje rizikom (hedžing) i spekulacije.To su derivatni instrumenti cija se vrednost izvodi iz osnovne aktive (najcešci tip je genericki svop ili ‘vanila kamatni svop’, ali to može biti skoro bilo šta). Ovim OTC (vanberzanskim) proizvodima se trguje nesposredno izmeu dve strane ili sa finansijskom institucijom koja nastupa kao posrednik. Pojedine banke u Srbiji vec nude ove derivatne instrumente, ali je njihovo korišcenje na tržištu još uvek u zacetku. Kreditni rizik i rizik kamatne stope u velikoj meri uticu na privatni sektor koji trenutno ne poseduje dovoljno znanja o takvim proizvodima i njihovom znacaju. Cilj ovog rada je da pokuša da prikaže i razjasni strukturu ovih finansijskih derivata tako što predstavlja metode za njihovo vrednovanje i pokazuje kako se one primenjuju u praksi. Na samom kraju ovog rada cemo se pozabaviti pitanjem kreditnog rizika sa kojim se ugovorne strane danas suocavaju na razvijenim finansijskim tržištima.

Suggested Citation

  • Paunović Jelena, 2013. "The Pricing and Valuation of Swaps," The European Journal of Applied Economics, Sciendo, vol. 10(1), pages 39-45, April.
    • Handle: RePEc:vrs:tejoae:v:10:y:2013:i:1:p:39-45:n:5
    DOI: 10.5937/sjas1301039p
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