Amaranth基金公司利用豁免商业市场(ECM)逃避指定合约市场(DCM)报告制度、操纵价格及其随后的崩盘事件对我国场外衍生品监管制度的顶层设计具有借鉴意义。该事件表明,将场外衍生品市场纳入统一监管,不仅对其自身发展有利,而且对期货交易所的正常运行和风险控制也是必要的。 Amaranth Fund Company eschewed the DCM (DCM) reporting system by exempting the commercial market (ECM), and manipulating the price and its subsequent collapse can be of reference to the top-level design of the OTC regulatory regime in our country. The incident shows that the over-the-counter derivatives market will not only be conducive to its own development, but also be necessary for the normal operation and risk control of futures exchanges.