世界金融发展的历史告诉人们,证券市场是风险市场。而由股票、债券、商品所衍生的金融契约,更是“潘多拉”之盒。然而这一概念,对于仅有三年历史的上海证券市场,尤其是对于1993年10月才刚刚诞生的上海国债期市,是很难彻悟的。 终于在1994年发生了俄罗斯MMM事件之后,台湾的洪富案随之而起。1995年日历才掀到2月,对墨西哥金融危机冲击尚 The history of world financial development tells people that the securities market is a risk market. The financial contracts derived from stocks, bonds and commodities are even more “Pandora” boxes. However, this concept is difficult to understand for the Shanghai securities market with a history of only three years, especially for the Shanghai bond market, which was just born in October 1993. After the MMM incident in Russia finally took place in 1994, Hongfu case in Taiwan ensued. The calendar was launched in February 1995, impacting Mexico’s financial crisis