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本文论述信用衍生品主要类别、积极作用及交易蕴含风险,分析评价了2010年7月美国国会通过的包含信用衍生品在内的金融衍生品交易监管立法.我国监管层也有推出信用衍生品的计划,并于2010年11月开始市场试点,在此背景下作者对构建我国信用衍生品监管法律制度提出若干建议:加快制定包括信用衍生品在内的统一的金融衍生品交易监管法,为市场发展奠定法律基础;完善金融监管协调机制;尽快出台相关立法或司法解释以解决有关规定与现行法律冲突的问题;适时修改监管规则以鼓励金融机构更多采用信用衍生品管理风险;逐步引进集中清算方式;改进信用衍生品监管信息披露要求.“,”After elaborating on the types,functions and risks of the credit derivatives,the author analyses the law passed by US congress in July 2010 on the reform of regulation of the OTC financial derivatives markets,including the credit derivatives market.China's authorities also have the proposals to launch China's credit derivatives market and have already started the pilot program in November 2010.Under this background the author made some suggestions on how to structure China's regulations systems for credit derivatives: speeding up the unified law for all financial derivatives,including credit derivatives,thus the legal foundation for market development can be set;introducing relevant legislation of judicial explanations as soon as possible to solve the conflicts between some NAFMII provisions and relevant laws;amending the regulation rules at appropriate time to encourage greater use of credit derivatives by financial entities to manage risks;gradually introducing the central clearing;improving the information disclosure of the credit derivatives trading.