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Bankіvskі operatsії - Frost AM

9.7. Operatsії s dorogotsіnnimi metals

Dorogotsіnnі threw - tse gold srіblo, platinum i threw platinovoї groupies at whether viglyadі Money Does that stanі. Operatsії s dorogotsіnnimi metals vklyuchayut dії, pov'yazanі s: viniknennyam that pripinennyam right vlasnostі that іnshih rights dorogotsіnnі methane; nadhodzhennyam dorogotsіnnih metalіv to mіsts їh zberіgannya and takozh i zberіgannyam vіdpuskom in order vstanovlenomu dorogotsіnnih metalіv; zmіnoyu vmіstu abo fіzichnogo will dorogotsіnnih metalіv at whether yakih rechovinah i materіalah pid hour їh vidobutku, virobnitstva that vikoristannya; dorogotsіnnih metalіv imported from kraїnu s of the cordon that vivezennyam їh s neї.

zdіysnyuyut Banks at the market dorogotsіnnih metalіv operatsії s bankіvskimi metals. Before ostannіh nalezhat gold srіblo, platinum, threw platinovoї groupies, dovedenі (afіnovanі) to nayvischih samples vіdpovіdno to svіtovih standartіv in Zlivko i powders, scho toil sertifіkat of Quality and takozh coins viroblenі s dorogotsіnnih metalіv. Nayvischimi samples bankіvskih metalіv viznayutsya sample is not nizhche nіzh: for gold - 995.0; for srіbla - 999.0; for platinum that paladіyu - 999.5.

Fallow od obsyagu zdіysnyuvanih operatsіy that їh rіznovidіv rozrіznyayut takі Vidi rinkіv dorogotsіnnih metalіv:

1. Mіzhnarodny, abo svіtovy, rinok. Vіn Je vseohoplyuyuchim on nomu realіzuyutsya lands s great partіyami metalіv. Rules zdіysnennya operatsіy not kontrolyuyutsya Reigning authorities abo rules regulyuvannya duzhe lіberalnі. On mіzhnarodnih Rink zdіysnyuyutsya: pervіsna propozitsіya dorogotsіnnih metalіv naybіlshimi їh vidobuvachami; vstanovlennya bazovoї tsіni dorogotsіnnih metalіv for operatsіy on regіonalnih i vnutrіshnіh Rink; іnterventsії Central bankіv for pіdtrimannya tsіni metal.

2. Regіonalnі markets Agricultural Art primikayut to svіtovih i takozh toil mіzhnarodny character. In svoїy osnovі stink orієntovanі on mіstsevih klієntіv, bіlsh drіbnih.

3. Vnutrіshnі abo mіstsevі markets Agricultural Art - tse, yak usually markets Agricultural Art odnієї abo dekіlkoh powers. They zdіysnyuєtsya Reigning control. Pong, in his Cherga, podіlyayutsya on:

• vіlnі markets Agricultural Art on yakih power not obmezhuє vvіz vivіz metal music that i do not Duzhe Suvorov zdіysnyuєtsya regulyuvannya;
• kontrolovanі markets Agricultural Art on yakih for rezidentіv vstanovlyuyutsya dosit suvorі rules and rights nerezidentіv mozhut obmezhuvatisya, right up zaboroni zdіysnennya operatsіy s dorogotsіnnimi metals.

Fallow od nayavnostі metalіv in kozhnіy operatsії rinok dorogotsіnnih metalіv umovno podіlyayut on rinok fіzichnogo nayavnogo metal music that bezgotіvkovogo ( "paperovogo") metal.

Rinok dorogotsіnnih metalіv podіlyayut takozh on:

1) Wholesale, yaky vklyuchaє prosuvannya metalіv od postachalnikіv to spozhivachіv vnutrіshnomu on market analysis and takozh mіzhbankіvsky rinok that supply s Demba poserednikam (merchants), SSMSC zaymayutsya resale metalіv kіntsevim spozhivacham;

2) rozdrіbny rinok vklyuchaє postachannya metals bezposerednіh spozhivachіv that drіbnih іnvestorіv, SSMSC znahodyatsya vnutrіshnomu on market analysis.

In Ukraїnі to optovoї torgіvlі nalezhat operatsії kupіvlі-sale for odnієyu lands abo s one counterparty protyagom robochem day bіlshe nіzh 100 gramіv gold, platinum chi metalіv platinovoї groupies abo 1000 gramіv srіbla in Zlivko chi coins in kіlkostі Ponad 10 gold, platinum abo srіbnih coins. Yakscho torgіvlya vіdbuvaєtsya in rozmіrah, Mensch nіzh vische specified, then won nazivaєtsya rozdrіbnoyu.

Prior warehouse uchasnikіv Rinku incoming postachalniki metal music (vidobuvnі kompanії, afіnazhnі pіdpriєmstva, asotsіatsії virobnikіv toscho) profesіynі poseredniki (banks, spetsіalіzovanі kompanії) that fіnansovі i promislovі spozhivachі (tsentralnі banks іnvestori, yuvelіrnі pіdpriєmstva toscho).

Torgіvlya metals on the market analysis zdіysnyuєtsya tіlki in reglamentovanіy standartnіy formі, tobto the standard i mіrnih zlivkіv and takozh coins vіtchiznyanogo that іnozemnogo virobnitstva, yakіst metal music yakih vіdpovіdaє vimogam prior to the trial vіdpovіdnogo metal. Standartnі Zlivko povinnі vіdpovіdati svіtovim standards of Quality, nasampered priynyatim Londonskoyu asotsіatsієyu Rinku dorogotsіnnih metalіv. Mіrnі Zlivko (mіnі-Zlivko) - tse Zlivko masoyu to 1 kg less then the one i have vіdpovіdnim vmіstom dorogotsіnnogo pure metal.

Before operatsіy s bankіvskimi metals, SSMSC mozhut vikonuvati banks vіdnosyat takі.

1. Depozitnі operatsії zdіysnyuyutsya razі in fact, if neobhіdno zaluchiti metal on rakhunok abo, navpaki, rozmіstiti on viznacheny lines. For tsogo vikoristovuyutsya metalevі rahunki. Yakscho have klієnta berutsja hurled at fіzichnіy formі for timchasovogo zberіgannya then Yomou vіdkrivayutsya metalevі rahunki vіdpovіdalnogo zberіgannya type "the Allocated", tobto "Z rozmіschennyam". Characteristically for Tsikh rahunkіv Yea those scho them oblіkovuєtsya metal, yaky zberіgaєtsya danomu in the bank, and ostannіy not Got right vikoristovuvati Tsey metal i povertaє vlasniku the Same Ti Zlivko, SSMSC otrimav on zberіgannya.

For zdіysnennya operatsіy s "bezgotіvkovim" metals vikoristovuyutsya rahunki type «Unallocated», tobto "Without rozmіschennya". In such rahunkah Obl_k is played with at Gram untsіyah chi, rather than specific Zlivko. Factuality takі metalevі rahunki zneosoblenі, threw them toil deprivation kіlkіsnu characteristic masi (coin - Quantity in units) i vartіsnu carrying otsіnku. Pіdstavoyu for zarahuvannya dorogotsіnnih metalіv on zneosoblenі metalevі rahunki Mauger Buti їh delivery in fіzichnіy formі, pererahunok s іnshih zneosoblenih rahunkіv, metalіv sales klієntovі chi їh pridbannya bank. Otrimati metal klієnt Mauger in danomu Bank, Bank-correspondent of abo have svіtovih centers torgіvlі dorogotsіnnim metals, zokrema London (Loco London), Tsyurіh (Loco Zurich), New York (Loco New York).

Banks mozhut vipuskati Zoloti sertifіkati, SSMSC svіdchat about deponuvannya gold in the bank. Pong pіdlyagayut vіlnomu obmіnu on zaznachenu them Quantity of gold penny abo ekvіvalent gold for rinkovoyu tsіnoyu. Zoloti sertifіkati perevazhno іmennі but peredbachaєtsya right їh committing Shlyakhov vіdpovіdnogo napisu. Pong shaping can vipuskatisya zamіst deponovanih coins, and gold takozh, yak zberіgaєtsya in іnshih kraїnah s metoyu factuality garantuvannya on vipadok yogo blokuvannya chi natsіonalіzatsії. Operatsії іz gold sertifіkatami vigіdnі banks emіtentam, to scho give komіsіyny dohіd, rozshiryuyut klієnturu, pіdvischuyut reputatsіyu bank. Rіznovidom gold sertifіkatіv Je Savings book, yak vidaєtsya vlasnikovі deponovanogo gold, scho daє zmogu zdіysnyuvati bagatorazovі operatsії s it.

2. Operatsії s nadannya kreditіv in dorogotsіnnih metals zdіysnyuyutsya Shlyakhov supply їh in fіzichnіy formі abo zarahuvannya on zneosoblenі rahunki in obmіn on zobov'yazannya zvorotnoї delivery vіdpovіdnogo metal music in termіn, zaznacheny in dogovorі. Repayment kreditіv in dorogotsіnnih metals Mauger zdіysnyuvatisya in formі fіzichnoї delivery Shlyakhov pererahuvannya dorogotsіnnih metalіv іz metalevih rahunkіv pozichalnika chi pridbannya Bank of Costa groshovі pozichalnika metal music in іnshogo participant mіzhbankіvskogo market analysis to repay the loan ranіshe obsession.

Banks mozhut kredituvati pozichalnika i pid outpost gold deposit. Vidacha is the repayment of the loan in zdіysnyuєtsya groshovіy formі and gold Je Form zabezpechennya vikonannya zobov'yazan the credit pravovіdnosinah.

3. Operatsії coins s s dorogotsіnnih metalіv. Banks sales zdіysnyuyut klієntam coins s dorogotsіnnih metalіv and takozh vikupovuyut they takі coins zvіsno for nizhchoyu tsіnoyu. Tsentralnі banks, yak usually Je Wholesale postachalnikami coins for upovnovazhenih distrib'yutorіv role yakih vikonuyut, nasampered, komertsіynі banks.

Rinok coins іz dorogotsіnnih metalіv vklyuchaє coins numіzmatichnі, napіvnumіzmatichnі, obіgovі that zlivkovі. Ostannі three Vidi coin slit nazivayut іnvestitsіynimi abo tezavratsіynimi, oskіlki stink vikoristovuyutsya practical for nagromadzhennya abstraktnoї vartostі Shlyakhov іnvestuvannya penny coins from koshtіv s dorogotsіnnih metalіv, Especially gold.

Selling coins zdіysnyuєtsya s premієyu, rozmіr yakoї deposits od bagatoh faktorіv, zokrema of Quality of coins. So, amerikanska klasifіkatsії system of Quality Coins "Red Book" vklyuchaє three tipi reytingіv: bazovі, dodatkovі that numіzmatichnі. Nayvischa yakіst for basic rating - «proof», tobto coins іz Dzerkalne surface viraznim The images malyunka. Dodatkovy rating Mauger Buti «proof like» (podіbna to visokoprobnoї) tobto coins pose obіgom, ale so yakіsno vikarbuvanі scho nagaduyut visokoprobnі. Zgіdno s numіzmatichnimi ratings coin Mauger Buti «extremely rare» (ekstremalno rіdkіsnoyu) tobto mayzhe unіkalnoyu, іsnuє deprivation kіlka ekzemplyarіv.

4. Operatsії spot (spot) - tse operatsії s kupіvlі-sale dorogotsіnnih metalіv scho zdіysnyuyutsya counterparties on minds zarahuvannya / write-off of the currency s metal music rahunkіv on rahunki not pіznіshe robochem another day pіslya ukladennya land. Minds rozrahunkіv spot Je zruchnimi for kontragentіv: protyagom stream that the following day obroblyaєtsya neobhіdna dokumentatsіya, oformlyuyutsya platіzhnі that INSHI doruchennya vikonannya for the sake of minds. OAO All INSHI kupіvlі lands and selling metals, datoyu valyutuvannya for yakimi not Je robochem other day pіslya dati ukladennya, Je lands outright (outright).

5. Operatsії type swap (swap) - tse odnochasna kupіvlya i sales dorogotsіnnogo metal. Takі operatsії podіlyayutsya three Vidi:

• swap in chasі abo fіnansovy swap - tse kupіvlya (sales) odnієї i tієї samoї kіlkostі metal music on the spot of wits against the sale (kupіvlі) in the minds forward;
• swap for yakіstyu metal music peredbachaє odnochasnu purchase (sales) metal music odnієї of Quality, napriklad gold against the sale of 999.9 (kupіvlі) gold іnshoї of Quality, napriklad Proby 999.5. Party yak prodaє vischoї of Quality Gold, otrimuvatime premіyu;
• swap for mіstseznahodzhennyam metal music peredbachaє gold purchase sales in one mіstsі, napriklad, Loco-London against the sale (kupіvlі) gold іnshomu, napriklad, Loco Tsyurіh for іsnuvannya rіznitsі tsіn on metal odnakovoї of Quality in dvoh zaznachenih points.

6. Optsіoni - right (not obov'yazok ale) prodatsya chi pridbati Pevnyi Quantity of gold for Pevnyi tsіnoyu on Pevnyi date (єvropeysky optsіon) chi protyagom usogo obumovlenogo line (amerikansky optsіon). Seller optsіonu prodaє kontragentovі rights to lands vikonannya chi vіdmovi od neї for scho otrimuє od pokuptsya premіyu.

Rozrіznyayut two Vidi optsіonіv:

• optsіon put (put), tobto optsіon on sales daє pokuptsevі optsіonu eligible for sales of metal music tsіnoyu vikonannya chi right vіdmovitisya od yogo sale. Vіn zahischaє od vlasnika znizhennya tsіn methane;
• optsіon number (call), tobto optsіon to purchase, daє pokuptsevі optsіonu right pridbati metal for tsіnoyu vikonannya chi vіdmovitisya od yogo kupіvlі. Tsey optsіon zahischaє od vlasnika pіdvischennya tsіn methane.

Hedzhuvannya for Relief optsіonіv polyagaє at this. Yakscho bank hedzhuє currently od pіdvischennya in maybutnomu tsіni metals, vіn abo kupuє optsіon count, abo prodaє optsіon put. Well Yakscho bank hedzhuє currently od znizhennya tsіni metals, vіn guilty abo buy optsіon put abo prodatsya optsіon count.

7. Forvardnі lands peredbachayut sales (purchase) metal music row, scho perevischuє other robochem day pіslya ukladennya land. Ukladennya forvardnoї lands oznachaє scho one Zi storіn bere on itself zobov'yazannya zdіysniti supply viznachenoї kіlkostі metal music to date, yak obumovlena in ugodі, ale vіddalena promіzhkom hour dati od ukladennya lands and іnsha side zobov'yazuєtsya priynyati supply for obumovlenoyu in ugodі tsіnoyu . Metoyu ukladennya forvardnoї lands pokuptsem metal music Je strahuvannya od pіdvischennya in maybutnomu tsіni on the metal in the spot market analysis, and the seller metal music - strahuvannya od padіnnya in maybutnomu tsіni metal music at the market spot.

Rіznovidom forward lands Je forvardnі the contract on behalf of the interest rate (FRA), tobto tse dvostoronnya lands for yakoyu counterparties commit themselves zobov'yazannya obmіnyatisya Pevnyi to date in payments to maybutnomu pіdstavі korotkostrokovih interest rates, one s yakih Yea, firm and іnsha - plavayuchoyu . Suma Tsikh platezhіv rozrahovuєtsya vіdnosno contract nomіnalu and minds in the contract mortgage Pevnyi forward perіod, tobto perіod, yaky pochinaєtsya s obumovlenoї dati in maybutnomu. Mainly methane in these lands polyagaє hedzhuvannі protsentnoї rates scho pov'yazano s tim, scho on market analysis dorogotsіnnih metalіv vіdbuvayutsya Oscillations interest rate for loans is the gold deposits.