Yintoni umngcipheko wokubiyelwa ngamagama alula, izixhobo kunye neendlela

Kukho iindlela ezininzi apho abatyali-mali kunye nabarhwebi banokunceda ukunciphisa umngcipheko. Enye yezi kukukhusela.

Yintoni eyona nto iphambili yokubiyela, yintoni na kwaye isebenza njani kumzekelo wangempela

I-Hedging ngumlinganiselo wokunciphisa umngcipheko ovela kwiimarike zemali. Ngokwenyani, wenza urhwebo olubuyela umva ukubuyisela ilahleko enokwenzeka kwindawo ebivulwe ngaphambili.
Umzekelo:
Masithi unesabelo seGazprom. Ngenxa yokulungiswa okunokwenzeka kumaxabiso egesi kunye ne-geopolitics, ukwesaba ukuba i-stock quotes iya kuwa. Kule meko, ungabhenela kwi-hedging. Oko kukuthi, vula isikhundla sokuwa kwesitoko. Ukuba oku akwenzeki, ngoko uya kulahlekelwa kancinane. Kuphela inxalenye encinane yekomkhulu, eyayibekwe ekwindla. Kodwa ukuba amaphepha eGazprom ayawa, ngoko uya kwenza inzuzo kwisivumelwano esifutshane. Iyakuhlawulela ilahleko kwindawo ebivulwe ngaphambili.
Ngubani osebenzisa ubuCwangciso bokuHedging:

1. IiNgxowa- mali zeHedge . Balawula ngokuchubekileyo iinkunzi zabanye abantu kwaye basebenzise izicwangciso ezahlukeneyo ezinxulumene nokunciphisa imingcipheko yemarike.
2. Abathumeli bangaphandle kunye nabaThumela kumazwe angaphandle . Iinkampani ezinjalo ziqinisekisa umngcipheko ohambelana nokuphazamiseka kwamakhonkco okubonelela okanye utshintsho kwizinga lotshintshiselwano.
3. Abarhwebi . Abathengi bavula iindawo ezibuyela umva kwisixhobo esinye. Injongo kukunciphisa umngcipheko wokungazinzi ekurhwebeni.
4. Abatyali-zimali abakhulu . Baqinisekisa umngcipheko wepotfoliyo ngokwelizwe, imali kunye neshishini.

IHedge ayifumaneki kuphela kubadlali abakhulu. Ikwasetyenziswa ngabatyali zimali abancinci babucala abanemali encinci.

Kutheni ufuna umngcipheko wokubiyelwa ngamagama alula

Isixhobo sokhuseleko sisetyenziselwa ezi njongo zilandelayo:

1. Ukukhuselwa kwesithuba eside xa kunokwenzeka ukuwa kwe-asethi. Unokuvula urhwebo olufutshane kukhuseleko olufanayo. Ukuba utshintsha ixabiso lexabiso, awuyi kulahlekelwa phantse nantoni na.
2. I-inshurensi yorhwebo olufutshane kwimeko yokunyuka kwexabiso le-asethi. Ukwenza oku, kufuneka uvule isithuba eside kwisixhobo esifanayo. Oku kuya kukuqinisekisa ngokuchasene nokuguquguquka.
3. Hedge ngokuchasene notshintsho kwireyithi yotshintshiselwano. Ukubiyelwa komngcipheko wemali yindlela yokukhusela iimali zakho xa kukho ukuguquguquka kwizinga lonaniselwano lwangaphandle.
4. Ukunciphisa imingcipheko yokusebenza ngokuthe ngqo kumjikelo weshishini. Ngokomzekelo, uthango lusetyenziswa kwimeko yokwaphulwa kwemihla yokuhanjiswa.
5. Ukupheliswa kokungaqiniseki. Ukuba awunaso isicwangciso esicacileyo sento eza kwenzeka kwimarike kungekudala, unokubhenela kwiheji. Thenga izixhobo eziguquguqukayo kwaye uqinisekise inkunzi ngokuchasene notshintsho olunokwenzeka kwixabiso.

Iintlobo ze-hedging kutshintshiselwano, ekurhwebeni kwaye kungekhona kutshintshiselwano

Kukho iindidi ezininzi ze-hedge. Zonke zixhomekeke kumbandela. Makhe siqwalasele ezona zisisiseko. Ngohlobo lwesixhobo:

1. Utshintshiselwano – izivumelwano ezizotywe kutshintshiselwano. Izixhobo zokukhusela ezidumileyo zikhetho kunye nexesha elizayo. Banceda ekuqinisekiseni iingozi zemali. Iqela lesithathu kwintengiselwano yindlu yokucoca. Unoxanduva lokuqhutywa kunye nokuhanjiswa kwekhontrakthi.
2. I- OTC – izivumelwano ezigqitywa ngaphandle kotshintshiselwano. Umthengi kunye nomthengisi bangenza intengiselwano ngokuthe ngqo okanye babandakanye umntu wesithathu. Ezona zixhobo zokubiyela ziphambili kunye nokutshintshana. Ezi ntengiselwano zezexesha elinye. Azinakuthengiswa kubantu besithathu. I-OTC hedging idla ngokusetyenziselwa ukunciphisa umngcipheko weshishini.

Ngobungakanani bomngcipheko okhuselwe kwi-inshorensi:

• i-hedging epheleleyo – ubungakanani bentengiselwano ye-reverse ilingana nomthamo wendawo yokuqala evulekileyo;
• i-hedging partial – umthamo we-counter-trade ungaphantsi kobukhulu bendawo evuliwe ngaphambili.

Ngohlobo lweqela:

• Uthango lomthengi . Umtyali-mali uqinisekisa iingozi ezinxulunyaniswa nokunyuka kwamaxabiso okunokwenzeka okanye ukuhla kwemiqathango yekontraka yekhontrakthi.
• Uthango lomthengisi . Kule meko, imingcipheko ifakwe kwi-inshurensi malunga nokuhla okunokwenzeka kwamaxabiso okanye ukuhla kwemimiselo yekhontrakthi.

Ngexesha lentengiselwano:

• Uthango lweClassic . Okokuqala, bazoba eyona nto iphambili, emva koko i-inshorensi deal.
• IHedge ephezulu . Yonke into yenzeka ngenye indlela. Okokuqala, benza isivumelwano se-inshurensi, emva koko eyona iphambili.

Ngohlobo lwe-asethi engaphantsi:

• i-hedging ecocekileyo – i-asethi engaphantsi kweyona nto iphambili kunye ne-reverse trades iyafana;
• cross – indawo ephambili i-inshurensi yenye i-asethi engaphantsi.

Ngohlobo lwemiqathango yekhontrakthi yokukhusela:

• i- unilateral – ilahleko yemali kunye nengeniso ithwalwa licala elinye kuphela lentengiselwano;
• i- bilateral – ulwahlulo lwenzuzo kunye neendleko ziwela kumacala omabini.

Hedging Instruments

Ezona zixhobo zotshintshiselwano ezingundoqo zokukhusela zezi:

1. Isikhundla esifutshane . Kule meko, uboleka izibambiso, uzithengise, uze uzithenge ngexabiso eliphantsi. Umahluko phakathi kwexabiso lokuthengisa kunye nokuthenga kwakhona yinzuzo eya kwenziwa kwimarike ephantsi. Urhwebo olunjalo lubizwa ngokuba yi-margin trading. Urhweba ngezitokhwe ezibolekiweyo. Umthengisi uya kuthatha ikhomishini yokusetyenziswa kwezibambiso. Isenokuvala ngenkani urhwebo ngesantya esingathandekiyo kuwe ukuba isikhundla asikhuselekanga.
2. Ukhetho . Esi sisivumelwano apho umthengi anokuthengisa i-asethi ngexabiso elimiselweyo. Kwaye akukhathaliseki ukuba ixabiso liya kuba yintoni ngexesha lokuthengisa. Ukuba ulindele ukuncipha kweengcaphuno ze-asethi, emva koko uthenge i-PUT ukhetho. Ngaloo ndlela, ulungisa ixabiso lephepha. Kwixesha elizayo, ukuba izabelo ziyawa, ngoko unako ukuthengisa i-asethi ngexabiso lokuqala. Ukuba iikowuti aziwi, ngoko unelungelo lokungayithengisi i-asethi.
3. Ikamva . Esi sisivumelwano sokuthengiswa kwe-asethi ngomhla othile ngexabiso elimiselweyo. Ukuba ucinga ukuba iphepha liya kuba lixabiso eliphantsi, ngoko uthengisa isivumelwano sexesha elizayo. Ngomhla omiselweyo wekhontrakthi, elinye iqela liya kunyanzeleka ukuba lithenge i-asethi ngexabiso elimiselweyo.
4. Tshintsha . Njengenxalenye yentengiselwano eya phambili, amaqela atshintshiselana ngeentlawulo zexesha elithile. Ukubiyelwa okunjalo kudla ngokubhenelwa kuko ngabaphathi bengxowa-mali. Umzekelo, inkampani yeFinEx xa ilawula iimali ze-ETF.
5. Ii – ETF eziguqukileyo . Ezo mali ziyilelwe ukuba zifane nebenchmarks ezizilandelayo. Ukuba isalathisi esiyintloko siwela, ngoko baphakama. Ii-ETF eziguqukileyo zibonelela ngokukhula kwi-1x, 2x, njl. Oko kukuthi, ukurhweba nge-leverage kuyafumaneka.

Kubalulekile! Ezi zixhobo zingentla zomngcipheko zifumaneka kuphela kubatyali-mali abafanelekileyo.

Kwimarike ye-counter-counter, i-front isetyenziselwa uthango. Le khontrakthi ibandakanya ukuhanjiswa kwe-asethi esisiseko. Imiqathango yekhontrakthi yokudlulisela phambili ibekwe ngamaqela ngokwawo.

Umzekelo wokuhlobisa

Isalathiso sedola yaseMelika kunye negolide zinonxibelelwano oluhle oluguquliweyo. Ukuba umtyalo-mali unegolide kwiphothifoliyo yakhe, kwaye uyesaba ukuwa kwexabiso le-asethi, ngoko unokukhusela iingozi ngokusebenzisa isivumelwano sexesha elizayo kwi-index ye-dollar yase-US. Olu hlobo lothango lubizwa ngokuba yi-cross hedging.
Njengoko ubona kwitshati, ikamva kwisalathiso sedola yaseMelika likhule enyakeni. Oku kwenze ukuba kufumaneke kwakhona ilahleko eninzi eyenziwe ngenxa yobuthathaka begolide. Ngonyaka, i-index ye-dollar yase-US inyuke nge-6.34%, igolide yehla nge-7.76%.

Iimpazamo xa usebenzisa iheji

Xa ukhusela umngcipheko, abatyali-mali abanamava kunye nabarhwebi ngamanye amaxesha benza iimpazamo. Ngenxa yoko, zikhokelela ekulahlekelweni kwenxalenye yenkunzi. Ezona mpazamo zixhaphakileyo zokubiyela zezi:

• i-asethi engaphantsi ikhethwe ngendlela engafanelekanga ngexesha le-cross hedge;
• iimeko ezigwenxa zentengiselwano zimiselwe;
• isixhobo sokurhweba esingalunganga sokukhusela sikhethiwe;
• akukho sibambiso sokurhweba nge-leverage;
• umthamo we-counter-transaction ubalwa ngokungalunganga.

Okuhle nokubi

Iingenelo	Iziphene
Iqhinga lokubiyela linceda ukugudisa ukuwa kwexabiso le-asethi.	Kufuneka uhlawule iikomishini kubarhwebi ngokwenza urhwebo olubuyela umva.
Kukho ukwanda kozinzo lwengeniso yepotfoliyo kumgama omde.	I-inshurensi ayisoloko ihlawula. Ngokukodwa xa unqumla uthango ngee-asethi ezahlukeneyo ezingaphantsi.
Akukho zithintelo ezinkulu. Ipotfoliyo iyakwazi ukumelana nokuguquguquka okubukhali kwimicaphulo.	Ungafumana ilahleko enkulu xa kukho izithintelo zotshintshiselwano. Umzekelo, ngexesha lokurhweba ngomda kunye ne-leverage okanye i-liquidity ephantsi.
Izicwangciso ze-Hedging ziyasebenza kwimarike yotshintshiselwano kunye norhwebo lwe-crypto.	Kukho ukwanda kwenani lilonke lentengiselwano. Indawo nganye evulekileyo kufuneka ibekwe iliso. Kungenjalo, ungaphoswa ngumzuzu olungileyo wokuphuma.
Zonke iintengiselwano zikhuselekile.	Ukufikelela kuluhlu olubanzi lwezixhobo, udinga isimo somtyalo-mali ofanelekileyo.

I-Hedging ngumsebenzi onzima wokunciphisa imingcipheko ngokusebenzisa izixhobo ezikhethekileyo. Zisetyenziswa kuphela ngabathathi-nxaxheba beemarike abaqeqeshiweyo. Ngoko ke, ngaphambi kokwenza loo ntengiselwano, qonda umgaqo wokusebenza kwento ephuma kuyo nganye. Oku akuyi kugcina imali eyinkunzi kuphela, kodwa kuya kudibanisa utyalo-mali lwexesha elizayo.