一、信用衍生产品及信用违约互换信用衍生产品诞生于20世纪90年代初期。它是一种随特定公司或公司群的信用质量变化而产生或有支付的场外交易金融契约。它在近几年的迅速崛起引起了各界的关注。根据B B A(B ritish Bankers’association)的统计数据,全球的信用衍生产品交易量(合 First, credit derivatives and credit default swap credit derivatives was born in the early 1990s. It is an over-the-counter financial contract that arises or pays as the credit quality of a particular company or group of companies changes. Its rapid rise in recent years has aroused the attention of all circles. According to the B B A (B ritish Bankers’ Association) statistics, the world’s credit derivatives trading volume