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????. ???(Chris)????? ?????:(02)2543-3430??:(02)2536-2951

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    1. ??????? ???????? ???? . ????

    2. ???? ???(Chris) ????? ??? ??:(02)2543-3430 ??:(02)2536-2951#2568 E-mail:golira@ms1.chb.com.tw

    3. ?????????? ???? ? ??????

    4. ?????????

    5. ???????? ?????????????,??????(???)????,??????????????????

    6. ??????(USD/NTD)?? ????-????? ???????? ???????

    7. ??????(USD/NTD)?? ?????-??????? ?????????????? -?????????,????? ????????? ?????????????? -?Voice BOX?????

    8. ???????? ?????? ???????????? ????????????????? ???(??????????? ?????????)

    9. ??TAIFX1

    10. ?????????

    11. ????????: ??????????? ??5 Digits ?? ??Basic Point

    12. ????????(?) ? ????????? ?: USD/JPY 1 MIO EUR/USD 0.5 MIO USD/THB 0.3 MIO USD/ZAR 0.1 MIO

    13. ????????(?) ? 5 Digits ?? ?: USD/JPY 116.30 EUR/USD 1.2175 USD/THB 38.850

    14. ????????( ?) ? Basic Point ?: USD/JPY 0.01 EUR/USD 0.0001

    15. ?????? Spot Day Business Day Settlement Date Maturity Day Overnight Value Day

    16. ?????? Taken/Given Long/Short Bid/Offer Discount/Premium

    17. ??????????? ??????

    18. ????

    20. ????(??????????) BID ASK(OFFER) USD/NTD 30.243 30.245 ???(??) ?? ?? ………………………………………………………… ???? ?? ?? (???-??)

    21. ????(?) BID ASK USD/JPY 101.25 101.35 ??? ?? ?? (??USD,??JPY) (??USD,??JPY) ……………………………………………………………………… ???? ?? ?? (???) (??USD,??JPY) (??USD,??JPY)

    22. ????(?) BID ASK EUR/USD 1.5775 1.5785 ??? ?? ?? (??EUR,??USD) (??EUR,??USD) ……………………………………………………………………… ???? ?? ?? (???) (??EUR,??USD) (??EUR,??USD)

    23. ????????? ????: USD / JPY USD / HKD USD / NTD ……… ????: GBP / USD ? AUD / USD EUR / USD ? NZD / USD

    24.

    25. ??????(?)

    26. ??????(?)

    27. ??????????? ???????

    28. ???? ???????????????? ?,???????????? ??: ??????????(EUR/JPY) ??????????(EUR/GBP)

    29. ????(?) ?????? (??/??) BID ASK USD/JPY 108.15 108.25 EUR/USD 1.2215 1.2225 EUR/JPY 132.11 132.34 ??? ?? ?? (??EUR,??JPY) (??EUR,??JPY) ………………………………………………………….. ???? ?? ?? (???) (??EUR,??JPY) (??EUR,??JPY)

    30. ????(?) ????? (??/?????/??) BID ASK USD/JPY 108.15 108.25 USD/HKD 7.7626 7.7636 HKD/JPY 13.930 13.945 ??? ?? ?? (??HKD,??JPY) (??HKD,??JPY) ………………………………………………………….. ???? ?? ?? (???) (??HKD,??JPY) (??HKD,??JPY)

    31. ????????,??????????????? (??)???????????? ?????EUR/USD 1.3125-1.3130 ?????USD/TWD 32.630-32.635 ????????????????EUR /TWD 42.826875-42.849755 ????????????????,???????????

    32. (??)???????????? ?????USD/JPY 118.88-118.90 ?????USD/TWD 32.630-32.635 ????????????????JPY /TWD 0.274432-0.274521 ?/?( ??) ?/?(??) ????????????????,???????????

    33. ?????????? ???????

    34. ¦ ????? ?????? ? ?? ? ?? ? ??????

    35. ????:????????12? ??? ?????????????????????,?????????,??????????,????????????,???????????,??????????????????,???????????????????? ???? ???????

    37. ??????????? ?????

    38. ??????(Forward) ???????????????????????????????????????,??????????????????????? ??DF (Delivery Forward) & NDF ( Non Delivery Forward)

    40. ?????? ???????????: ????? Vs ????? ?????????,????????? ??????????,??????????????????? ??????

    41. ????=????+????(Swap Rate) (?:???Swap Point) ?:USD/NTD ????= int x - ius x ???? x 1 + ius x

    42. ?????? ???????????: ????????(Spot Rate) ????????????? ??????(Tenor)

    43. ???????

    44. ???????

    46. ???????

    47. ??????????????,?????????????,????????????????,?????????????? ???????

    48. ??????????????,?????????????,????????????????,?????????????? ???????

    49. ?????????????? ?????? ?????

    50. ???

    51. ?????????NDF

    52. ¦ ?? : ????????,???????????, ??????????,?????????? ????????????,???????? ??????

    55. NDF???:????????,???????????,??????????,?????????????????????Fixing???????,?????????????? 2005?7?21??????(??)??????, USD/CNY=1:8.28??2%?=1:8.11 2007?5?21?USD/CNY???????????3??????5 ????????(OBU) -?????????????? ( Non Delivery Forward – NDF )

    56.

    57. (CNY NDF ) -??????????????(??)

    58. (CNY NDF ) -??????????????(??)

    59. ????TWD NDF????

    60. ??????(Fx Swap) ??????????,????(??)???(??)????,??????????????? ??????(??)???(??)???????,???????(??)???(??)?????,???????????,??????????????

    62. ABC S/B USD/NTD Swap Sell/Buy USD/NTD

    63. ??????(Fx Swap)??? ??????????? (????=????+??) ???? ???????

    64. ??????????? ?????

    65. ????? ??:???(insurance fee) ????:40???,??900?? ????:?? ????:??? ??:?????? ??:???(premium) ????:USD/NTD 1,000,000 ????:Plain vanilla Buy USD Put/NTD Call K=33.100 ????:??? ??:Mark-to-Market

    66. ???????? ?????????,????????????(derivative contract),???(holder)?????????????????????,?????????????,??????????(exercise rate or strike rate)?????????(writer),??(call)???(put)????????????,?????????????????,????????

    67. ?????? Call: Call?????????????????????? ????: 1.????????? 2.????????? ex:????Buy USD Call ag. NTD Put: Put?????????????????????? ????: 1.????????? 2.????????? ex:????Buy USD Put ag. NTD

    68. ??(CALL)

    69. ??(PUT)

    70. ?????? ?????????? ?????(American options) -?????????????? ?????(European options) -????????????

    71. ??????????????? ??(in the money,ITM)??? ??(at the money,ATM)??? ??(out of the money,OTM)??? ?????????,???????????????

    72. ???????? ???=????(intrinsic value) +????(time value)

    73. ????(IV) ??:?????????????? ???? ??????? ?call??,??????????(k)??????,??IV=0 ?put??,????????????????,??IV=0

    74. ????(TV) ??????????????(?????)???,??????????????,??? ??????TV=0? ???????????????????? ????????????????

    75. ?????? ???= ????(time value) + ????(intrinsic value)

    76. ??????????? ????(underlying asset) ???(exercise date)????(maturity date) ?????????(exercise price,k) ????????(seller or writer) ????????(buyer or holder) ???(premium)—???????

    77. ???????? ??????

    78. ?????????????? (?) ????(Strike) ??(Call Option) : K>S????(out of money),??????? K=S????(at the money) ,??????????? K<S????(In the money) ,???????????????,????????? P( out )<P(at)<P(in) ??(Put Option) : K>S????(In the money) ,??????? K=S????(at the money) ,??????????? K<S????(out of money) ,??????????????,?????????? P( out )<P(at)<P(in)

    79. ?????????????? (?) ????(Spot) ?????????,??????????? ??(Call Option) : ????????????,??????????????????,???????????????? SPOT????<SPOT????<K???? =>P?? ??(Put Option) : ????????????,??????????????????,??????????? SPOT????<SPOT????<K???? =>P??

    80. ?????????????? (?) ??????(Volatility) ?????????????????????,???????,??????????,???????,??????????? ??(Call Option) : V??=>P?? V??=>P??? ??(Put Option) : V??=>P?? V??=>P???

    81. ?????????????? (?) ????(Tenor) ???????????,??????,????? ????? ??(Call Option) : T??=>P? T??=>P??? ??(Put Option) : T??=>P?? T??=>P???

    82. ?????????????? (?) ??(Interest Rate) ??????????(?????)??????????????,????????????,????,?????? ??(Call Option) : I??=>P?? I??=>P??? ??(Put Option) : I??=>P??? I??=>P??

    83. ???????? Buy USD Call / TWD Put=>(+) ( + ) (+) ?USD;?USD??;short USD Buy USD Put / TWD Call=>(-) ( + ) (-) ?USD;?USD??;long USD Sell USD Call / TWD Put=>(-) (- ) (+) ?USD;?USD??;long USD Sell USD Put / TWD Call=>(+) ( - ) (-) ?USD;?USD??;short USD

    84. ?????

    85. ??????? Underlying Assets???? Buyer/holder?? Seller/Writer?? Strike Price????,??? Exercise?? Expire?? Tenor?? Expiry Day / Fixing Day??? Cut-off Time????:USD/NTD??11:00;USDRD3??2:00(????????) Settlement Day (Value Day)??? Premium???,?%?? ?????(European Type)?????????????? ?????(American Type)?????????????????

    86. ????????

    87. ????????????

    88. ????????? Plain Vanilla Option:????(Buy Call) ????(Sell Call) ????(Buy Put) ????(Sell Put) Exotic Option: Barrier Option Digital Option ……

    89. ????????? Barrier Option Knock-In option :???????,??????? Knock-out Option:???????,???????

    90. ????????? Digital Option one-touch digital option : ???????,???????????????? no-touch digital option : ????????,????????????????

    91. ??????????? ?????

    93. ??????? ( Structured Products )

    95. ?????????? ????+????? ?????,??????? ???????????????? ?????????,????????

    96. ????AUD/USD:0.8600,??????4.5% ???? Double No Touch Option ,?????: AUD/USD : 0.8420-0.8710 14? USD1?? ????0.8420-0.8710??? :????6% ????0.8420-0.8710???:????1%

    99. ?????????? ????+????? ????????????? ????????? ??????????? (Dual Currency Convertible Contract)

    100. ????????

    101. ??????????? ????

    102. ????(IRS)

    103. ????(IRS)

    104. ????(IRS) ??:????????????????????????,?????????????????????,????????????? ???,?????,????? ?????????????

    105. ????(IRS) ????    (?) ??IRS???,??????????????????? ??????? ???,?????????????????????? ?????????? (?) ??IRS???,??????????????????? ?????????? ??,??????????????,???????? ??? (?) ??IRS???,????????????????? ????    IRS????????:???????,Receive Fixed Rate; ???????,Pay Fixed Rate?

    106. ???? ( Interest Rate Swap – IRS )

    107. ????????

    108. ????(page 51328)??

    109. ????(page 6165)??

    110. ????????

    111. ??????????? ??????

    113. ???? - ???????(IRO) ?????????(Swaption) (?)?????: Cap , Floor Cap ? ???? Floor ? ???? Buy Cap ? ????,??????????????? ?? Sell Cap ? ????,??????????????? ???

    114. ??????(3 Year) :TWD at 32.800 1. ??????? 2. ??????????? 3. ??????

    115. ????:ANZ???????(S&P:AA/ Moody:Aa1) ??????:5? A?????:[7.2]%Χ n/N(????) A?????: (1) 6????LIBOR??:0%(?)?7.00%(?) (2)10????????(CMS)?2????????(CMS)???:?????0% B?????:[6.25]%Χ n/N(????) B?????: (1) 6????LIBOR??:0%(?)?7.00%(?) ????????????(A?B?): ?????????????6????????[?]???????????? C?????:[5.455]%(????),???? ?????? -?????

    116. ????

    117. ????????????????,??????

    118. ????????? ??? ???

    119. ????????? -??????- ????????????????? ????????????????? ??????????????? ????????????????? ??????????????????? ?????,??????

    120. ??

    121. (?)?????? ????????????????,????????? ?????????????,??????????? (?)????????????? ?????????????????????????? ???????????????,?????????? ???????????????? (?)?????? ????????????????,????????? ???????,?????????????????? ???????

    123. ?? - ????????

    124. ?????? ??????? -????? ??.??? ? ????????? -????? ??? ?? ????????? -??????? ??? ? ????????I -???? ??? ?? ????????????? -???? ??? ?? ?

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