Ikusasa - yintoni na le nto? Njani lekusasa zokurhweba?

abarhwebi Russian baqhele ukusebenzisa umsebenzi wabo isixhobo ezifana amakamva. A th, MICEX kunye nezinye ukutshintshiselana zinika ithuba lokwenjenjalo ngokunxulumene kuluhlu olubanzi kwiintengiselwano zezimali. Ziziphi iimpawu ukuphunyezwa kwezicwangciso zoshishino kulo mba? Yintoni lekusasa zinceda njani abarhwebi malini?

Yintoni a ikusasa

A definition eyamkelekileyo phakathi abarhwebi amakamva - zomculo zemali, ukuvumela ukwenza amakamva izivumelwano kwempahla ingxaki, nto leyo ithetha ukuba isiphelo phakathi umthengi nomthengisi bavumelana ngexabiso kunye ngokoMthetho wo yingisela. Kwelinye icala, ezinye iinkalo asethi, ezifana, ngokomzekelo, ubungakanani, umbala, ubungakanani, njalo njalo. E., The iinkcukacha ngamnye kuchaziwe kwisivumelwano. Ikusasa - is ngokwaneleyo sixhobo zemali ngeendlela ezahlukahlukeneyo. Bangakwazi lungqanyaniswe ezahlukeneyo kwiindawo zokuthengisa.

Ikusasa - a yezabelo?

Ewe, kunjalo ezahlukeneyo zabo. Igama elithi "esukela" luqondwa ngabathengisi ezininzi ngendlela efanayo nelithi ibinzana elithi "esukela", oko kukuthi, lowo Incedisa intengiselwano zakudala kwiintengiso. Yezabelo kunye amakamva - isivumelwano esibhaliweyo esicacisa iimfuno isivumelwano umthengisi kunye nomthengi. Ezi nkcukacha nawuphi na ithe ukuba eneneni ngokwako isenokuba isifundo yesivumelwano sentengiso. Oko kukuthi, ukudluliselwa kanye kumthengi kwempahla kumboneleli okanye kungabi.

lekusasa History

Ukuba ukuhlola ngokwaneleyo ngokweenkcukacha uhlobo ikamva, kuya kuba luncedo ukwazi njani ezi zixhobo zemali, into ke zigaba eziphambili imbali ukuphunyezwa yabo ingeniso yemali. Ezinye barhwebi bakholelwa ukuba indlela yobudlelwane phakathi umthengisi kunye nomthengi, ngoku idibana inkcazo ikamva, kwabonakala kudala ngaphambi kokuba isixhobo kuthethwa gqi kwimarike. Njengoko kudla ngokwenzeka, kuqoqosho, qala into yabonakala, emva koko - a elichaza kuyo.

Imarike wafuna ezintsha

Enye iintlobo eziphambili iimveliso ibisoloko ingqolowa. Ukuba sithethe ngayo ixesha phambi kokuba-19 - kwenkulungwane yama-20, ngoko ke wenza ukuba phakathi kwizifundo eziphambili kurhwebo lwehlabathi. Amafama, izilimo, ukuthumela abathengi babo emhlabeni okanye elwandle. Kwimarike okuziinkozo ekwindla kwakudla ngokugqithiseleyo le mveliso - amafama bafuna ukuthengisa ngokukhawuleza isityalo. Ngenxa yoko, ukunqongophala okuziinkozo ingenzeka entwasahlobo, leyo nje azikwazi ukukhula, lo gama ethe ukusebenza, nkqu ekwindla baqhubeka isantya maxongo, njengoko kwaba njalo waswela indawo yokugcina. Imarike xa oko kuyimfuneko ukuba ukusombulula oku kungalingani. Ngoko ke wabonakala izixhobo engxamisekileyo zemali ezivumela abalimi ukuba ukukhula okuziinkozo, kwakunye nabaniki kuzo naziphi na ezinye iimveliso zolimo ezifana, ukuze kuqukunjelwe imvumelwano kunye nabathengi nangaphambi kokuba iinkozo zivuthwe, baze bafikelele kwinqanaba ukuqonda.

isixhobo jikelele

Ezo zivumelwano babebizwa phambili (ukusuka IsiNgesi phambili -. "Phambili"). Ikusasa - kunokuthiwa, kukhubazeko nokulungiswa isivumelwano phambili norhwebelwano kwi iimpawu stock exchange. iingcali bavela ezinxulumene nemigangatho emiselwe kweentengiselwano zoshishino, ukuze amalungiselelo ezizio ukungena nantoni na uhlobo yempahla bathengisa. Ngenxa yoko, amakamva zorhwebo kwafikela intengiselwano, ngaphakathi apho baze bathengiswe nje ingqolowa kunye nezinye iimveliso zezolimo, kodwa izinto, isinyithi, ezinye iimveliso zokutya esele zenziwe: .. Sugar, ikofu, njl Kuba ngendlela entsha noko, ukuba uthethe ngembali yorhwebo isixhobo ubudlelwane naphaya nokutshintshiselana zemali.

Ukusuka izinto zokwenza indices stock exchange

Kukho iimpawu ezibonisa ukuba urhwebo amakamva zorhwebo lokuqala lwaqhutywa kwi Dow Jones index stock exchange kwegama efanayo yingisela. Ngenxa yoko, le mali zifumene isixhobo enkulu -inshorensi zomngcipheko zemali - kanye njengoko oku kwenza abaxhasi ingqolowa ekwindla. Ekuhambeni kwexesha, amakamva indices ziye zanda kangangokuba umthamo urhwebo kuzo maxa wambi baba yokusebenza ophezulu phezu iintengiselwano yamandulo.

Ngekusasa kwi kwimarike exchange angaphandle

Isixhobo zemali entsha kwakhona ukuba angene kunye neemarike lwemali. Omnye wemiba umdla kusetyenziso ikamva nabarhwebi baba, ngokutsho kwezinye iingcali, ukupheliswa i "umgangatho igolide" eUnited States ngowe-1971. Ngoko nangoko emva kokungena kwezithethe iingcaphulo ezintsha kwi kwimarike lwemali ihlabathi waqalisa ukubandezeleka okunzulu olomeleleyo. Abarhwebi ucingela ukuba amakamva - oku sesona sixhobo eza kumnceda imarike Kwathi kwisigaba ukulwatyuza ophezulu.

iindlela zorhwebo ezifanelekileyo ziqingqiwe ndawo, nangenxa yokuba ukukhula ngokukhawuleza yokuthandwa kwayo, iingcali ziye zacebisa ukuba le nto kanye afuna emarikeni. Ngekusasa kwi idola kunye engange, njengoko kuboniswe eziliqela kwimithombo, satyikitywa kuqala ngo-Apreli 1998. Ngosuku lokuqala borhwebo, isixa izivumelwano ngaphaya engange million 200.

Lekusasa e Russia

Hi ndlela leyi, imbali yorhwebo exchange Russian asuka ukususela uPetros Omkhulu. Ekuqaleni kwenkulungwane yama-20 eRashiya isetyenziswa ngokwendlela utshintshiselwano yorhwebo ethile 87. Ukususela ngasekupheleni nenani-20 no 1991-th neziko lorhwebo zange ezisebenza kwilizwe lethu. Kodwa emva kokuba eRashiya kutshintsho kwimarike free uye waba ngomnye isitshixo kuqoqosho.

Xa ikusasa intengiselwano yokuqala ziye zabanjwa eRashiya? Kukho iimpawu ezibonisa ukuba umzekelo yokuqala isicelo sesixhobo babebhalwa 1996 kwi-St Petersburg stock exchange. Saqala ukuvela amanqaku kuqala analytical, nto leyo ibeka phambili ithisisi malunga amathuba yenxaxheba Russian kwi amakamva zorhwebo. Ngo-1990 ngokusebenzisa iimvumelwano zemali sentsimbi isixhobo owabulawa nomasipala izitropu.

Ngoku ezimbini ezinkulu stock Russian amakamva esebenzayo (a th kunye MICEX). Ekuqaleni akukho nokuba icandelo esikhethekileyo yorhwebo ngokusebenzisa esi sixhobo zemali - iinqaba. Ifumaneka kwi iinqaba lekusasa iinketho (enye indlela eyayithandwa ukusayina iimvumelwano). Iza kuba luncedo, ngasendleleni, cinga ukuba ahluke njani.

Ikusasa ayahluka iinketho

A njengenqobo engundoqo kwahlukile amakamva iinketho - umnini kufuneka kuqala bahlangabezane iimeko phantsi kwesi sivumelwano. Kwelinye icala, isixhobo zemali yesibini kuvumela icala intengiselwano ongayithobeliyo imiqathango ecaciswe kwimvumelwano. Umzekelo, ukuba athengise stock ukuba bawele ixabiso kuthelekiswa ixabiso ngexesha lokuthenga.

Iintlobo ikamva. abaqalise

Noko ke, uphando luya kuqhubeka amakamva. abarhwebi Modern mabazihlele ngeentlobo ezimbini. Okokuqala, ihlaba-ebizwa ngokuba abaqalise amakamva. Basimisela isivumelwano ngexesha yokwenza apho umthengi uyavuma ukuba athenge, kwaye umthengisi - ukunika indlela ekubalulweni ekuvunyelwene isixa intengiselwano-asethi ezithile. Kulo mzekelo, ixabiso amakamva ziya kuba lowo busisigxina kwentengiso zakutshanje. Ukuba isivumelwano liphelile othengisayo akayi kunika asethi yona sinokulindela izohlwayo.

kubalwa

Kukho kwakhona amakamva zokuhlala. peculiarity wabo ukuba umthengi nomthengisi kubalwa kunye kwiimali ezenza umahluko phakathi kwexabiso le asset ngelo xesha ukusayina kunye nokubulawa kwesivumelwano, kungakhathaliseki zayo.

Ubume iinkcukacha amakamva contract

Enye izinto ezibalulekileyo imicimbi amakamva - omiselweyo. Kuyinto umthombo, awayinyulayo imiqathango esisiseko yesivumelwano. Bom isakhiwo intengiselwano yolu hlobo idla ngolu hlobo lulandelayo: Khankanya igama sivumelwano, ingakumbi uhlobo - lokukhangela okanye wosana, ixabiso le-asethi engundoqo, ixesha, ngokunjalo ezinye iinketho ngumyinge. Phakathi isitshixo nga ngokuba uphawu okanye uphawu utshintsho.

ukubaluleka kwayo kuxhomekeka mpahla. Kuba ingqolowa, xa sincokola ngayo utshintshiselwano eziphambili stock yehlabathi - kukuba zomyalelo eesenti 5 ngetoni nganye. Ukwazi oku, yintoni umthamo kwesivumelwano ikamva, umrhwebi ngokulula ukubala utshintsho ixabiso elipheleleyo phezu yonke imali ye-asethi. Umzekelo, ukuba isivumelwano ingqolowa tonnes 200, oko kungaba ibalwe ukuba hlengiso ubuncinane ixabiso iya kuba $ 10.

lekusasa namafutha

Njani urhwebo, umzekelo, ikamva ku Brent kunye nezinye oyile uluhlaza? elula kakhulu. Xa ukutshintshiselana zanamhlanje yorhwebo orhwebelana kwibakala echaziweyo ioli, kwakunye ezimbini - Ukukhanya Sweet kunye WTI. Bonke bephela babizwa ngokuba isiphawuli kuba amanye amabakala oyile eziqikelelwa ngokusekelwe unxulumano kunye ixabiso wasebenza. Izivumelwano kwi igolide abamnyama kwi-stock eziphambili ezimbini - NYMEX, eNew York, kwakunye ICE, eLondon. American uya kurhwebo ioli Light Sweet, e IsiNgesi - ezinye iintlobo ezimbini. Ingakumbi athengise ngegolide abamnyama, iqulathe kwi kwinyaniso yokuba zezona imini nobusuku.

Kwisikhokelo esingumlinganiselo oyi- ngokubanzi ukuba abarhwebi ihlabathi ubabalo Brent. Le neoli amakishe ukuba inxalenye enkulu kwiintlobo zehlabathi yeoli, kuquka Urals ioli Russian. Noko ke, njengoko kuqatshelwe abanye abahlaziyi, phakathi barhwebi kukho ntliziyo abangenazo kulungile ukugcina umgangatho Brent. Isizathu - oveliswa ikakhulu kuphela Sea North, emasimini Norwegian. Stocks njengoko kunciphisa, oku kunciphisa, ngokutsho kwezinye abahlalutyi, indlela yokuhlawula amatyala kwempahla kunye nexabiso yeoli kungenzeka ingabonisi iintsingiselo kanye emarikeni.

Brent amakamva kube lula ezichongwe yi-ungayiqondiyo BRN London Stock Exchange ICE. Igama elipheleleyo contract iyalila Brent ekrwada Oil. Oyile ikhutshwa phantsi kwezivumelwano ngenyanga. Ngenxa yoko, kunokwenzeka ukuba ukugqiba intengiselwano kunye lokuphumla ngenyanga nganye. Ubude liphezulu kwesivumelwano - leminyaka esi-8. Kukho amakamva oyile elifutshane elide, kodwa kukho ixesha elide. Ubukhulu yokusebenza ehambelana - amawaka 1 nemigqomo .. Ixabiso lika-1 lwethikh - iisenti, oko kukuthi, utshintsho zisezantsi ixabiso ikhontrakthi - $ 10.

Indlela ukuwina kule misebenzi oyile kunye amakamva? Quotes yeoli, ngokutsho kwezinye abezoqoqosho, zixhomekeke imeko kuqoqosho lwehlabathi. Ukuba umntu ezazi kakuhle kwisifundo, ukuze bazame ukuba basayine imvumelwano ukuba athenge okanye athengise oyile ngexabiso iseti a, ngaloo ndlela evula isikhundla elide okanye elifutshane, ngokulandelelana. Masithi, ngeendleko xa ioli $ 80 indoda komgqomo icebisa ukuba emva kweenyanga ezi-3 zempahla ekrwada uya kunyuka ukuya eerandi 120. Uphetha 1 ubuncinane Imvumelwano yokuthenga zegolide emnyama ngexabiso of $ 90 umphanda. UKuza iinyanga ezi-3. Ioli kulindeleke liphume ixabiso ku $ 120 umphanda, kunye nokulahlwa uMrhwebi oko ngexabiso ka 90. Waye ke utshintshiselwano imiqathango ebekwe nangoko wabafungisa umahluko $ 40.

Lekusasa lwemali

Kucacile ukuba ukuze norhwebelwano ngoncedo ikamva yeoli, umrhwebi uya kufuna utyalo ezibalulekileyo zemali. Ixabiso Ubuncinane yesivumelwano, njengoko sele ebonisile -. Amawaka 1 imiphanda, oko kukuthi, ukuba uthatha, hayi amanani aphezulu i-oyile, uya kufuna utyalo-mali ka-50 amawaka eerandi .. Noko ke, umrhwebi unalo ithuba lokuba bafumane ephetha amakamva kwi idola kwi MICEX, umzekelo. Ngokutsho imiqathango yesivumelwano lotshintshiselwano sisixa Ubuncinane $ 1 amawaka .. Phawula - kopecks-10.

Ngokomzekelo, omnye uthatha ukuba idola yaseMerika lingaya lisehla ngokwehla ukusuka engange 65 yangoku ukuya 40 Wavula isikhundla elide ekuthengisweni contract elinye ngexabiso, yithi kulo, $ 50, ixesha - ngenyanga 1. Kwinyanga kamva engange okunene uqinisa isikhundla - up kwiiyunithi 40 US dollar ngalinye. Man, ke, unelungelo lokuthengisa imali elixelwe iinkcukacha contract ngomlinganiselo $ 50, kwaye ukunceda umahluko izinga lotshintshiselwano engange-10 ngeyunithi nganye US lwemali. Kodwa ukuba akazange baqashele kwikhondo, ngandlela kufuneka ukuzalisekisa izibophelelo Exchange. Oku kwenzeka ngenxa nokubekwa kubungakanani wacela akhawunti ye yemarike.

malungiselelo manye Iholo kunokwenzeka xa nokurhweba ngezabelo zamashishini. Xa lanqunyanyiswa, uhlalutyo afanelekayo imeko kwimarike umrhwebi unokuthembela ngengeniso ezibalaseleyo ngokusebenzisa amakamva. Ukuthengisela-stock namhlanje awunangxaki ngokwaneleyo, ezingafihliyo akhuselwe ngumthetho Russian. Xa kulahlwe uMrhwebi, njengoko umthetho, kukho izixhobo lula analytical, ezifana ishedyuli amakamva ye asset ekhethiweyo. Ukusebenzisa indlela efanelekileyo indlela zemali kwi bezimali bume Russian iye udumo ngokwanelisayo izinzile.