交易對手風險是由於交易一方不遵守契約條款所帶來的風險。交易可能涉及現金的交割或者實物資產的轉移。在交割風險中涉及的流動性風險是指交易對手最終履約，但不是在契約約定的時間。因此，未能按時收回資金的交易方必須彌補這個資金缺口。
基本介紹
- 中文名：交易對手風險
- 外文名：counterparty risk
中文簡介,英文簡介,
中文簡介
但是同一般的信用風險相比，信用衍生產品本身的交易對手風險是較小的。這是因為信用衍生產品的交易對手或為一流的商業銀行，或為信用等級為AAA級的投資銀行。（信用等級分AAA級(信用等級優秀企業)、AA級(信用等級良好企業)、A級(信用等級較好企業)、B級(信用等級一般企業)、C級(信用等級較差企業)等五個等級。）這兩類機構必定是資本充足並且違約機率較小。
英文簡介
A counterparty is a party with which a transaction is done. If A sells something to B, then B is a counter-party from A's point of view and vice-versa.
The risk that the counterparty will fail to fulfil their obligations - usually either by failing to pay or by failing to deliver securities - is called counterparty risk.
There are a number of ways of controlling counterparty risk. Some are trading mechanisms such as DVP or the use of a central counterparty.
Financial institutions should track and manage counterpart risk in much the same way as any other credit risk, and this should be integrated into institutions' overall risk management system.
The counterparty risks from securities trading are either simple credit risks (where the risk is that the other party will not pay) or a combination of credit risk with the risk of a position in a derivative (where the risk is that the other part will not deliver securities).
Counterparty risk tends to be at least as much of a concern to regulators as to the institutions exposed to it. This is because a large financial institution will be a counterparty to many others, and therefore the knock-on effects of its failure pose a systemic risk.
