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金融机构在场外金融衍生品交易缔约和履约过程中均应履行信息披露和风险揭示义务,并应承担相应的举证责任。金融机构应当提供材料证明客户是否已经完全理解该笔衍生产品交易的条款、相关风险、该笔交易具有真实的交易目的或目标、以及对最差可能情况具有足够的承受能力等。对交易期限较长的金融衍生品交易,交易提前终止的方式以及提前终止时的费用计算方法,是金融机构在缔约时必须披露的交易要素。若金融机构在缔约时未进行披露,将使客户在交易过程中对合同提前终止未能有合理的预期,与客户因合同提前终止遭受的平盘损失存在一定的因果关系。即使客户自身的决定和市场风险是导致平盘损失的主要因素,金融机构仍应就其信息披露瑕疵按损失的一定比例承担赔偿责任。
Financial institutions should fulfill their obligation of disclosing information and disclosing risks in the process of contracting and performing off-balance-sheet financial derivatives transactions and should bear the corresponding burden of proof. Financial institutions should provide evidence of whether the customer has fully understood the terms of the derivative product transaction, the associated risks, the transaction’s true trading purpose or purpose, and sufficient affordability for the worst case scenario. For the trading of financial derivatives with a relatively long trading term, the method of early termination of the transaction and the method of calculating the cost of early termination are the transactional elements that the financial institution must disclose when making the contract. If a financial institution fails to disclose at the time of signing the contract, it will make it impossible for the client to reasonably expect to terminate the contract early in the course of the transaction and there is a certain causal relationship with the flat loss suffered by the client due to the early termination of the contract. Even if the client’s own decision and market risk are the main factors that lead to the loss of the flat-plate, the financial institution should still be liable for a certain proportion of the loss due to its information disclosure.