Ukuqonda utyalo-mali kunye nokusebenza kwabo
UkuThengiswa kweFungible Defined
Isixhobo semali (njengesivumelwano sothengi, isibophelelo okanye esizayo ) sithathwa njengento enokungathengwa ukuba ithengwe / ithengiswe kwikharhwebo enye okanye utshintshiselwano, kwaye yathengisa / ithengwe kwenye ivenkile okanye itshintshiselwano.
Intsingiselo yentsingiselo yegama elithi fungible yikhono lokufaka esinye isunithi sesixhobo sezemali esinye isunithi kwisixhobo esisodwa sezimali, njengokuba ungayenza ngemali yamaphepha, utshintshe idola lakho ngomnye umntu.
Ekuthengiseni, ukuqina kufakazela ukukwazi ukuthenga okanye ukuthengisa isixhobo esisodwa semali kwiimarike ezimbini okanye ezahlukeneyo. Ngokomzekelo, ukuba izabelo ezilikhulu zeesitokhe zingathengwa kwi-Nasdaq e-US, kunye neengxenye ezilikhulu zeesitokisi esifanayo zingathengiswa kwi-London Stock Exchange e-UK, kwaye umphumo ube yizabelo zero (100 zathengiwe kunye ne-100 zithengiswa), isitokisi sithengiswa.
Kukho izixhobo ezininzi zemali ezinokuthi zingabonakali, kunye nezona zinto ziyaziwayo zigcinwe kwii-intanethi ezininzi, iimveliso (ezifana negolide nesilivere) kunye nemali. Iimpahla ezininzi eziphathekayo zibhekwa njengezinto ezinokuthi zithengiswe ngenxa yokuba ungathenga okanye uzithengise kwiindawo ezahlukeneyo. Unokuthenga igolide okanye isilivere kumthengisi omnye, kwaye uyithengisele kwenye umthengisi.
Ithuba leArbitrage
Izixhobo zemali ezinokutsha zivame ukusetyenziswa kwi-arbitrage. I-Arbitrage xa umthengisi esebenzisa inzuzo yemali kwiimarike ezimbini ezahlukeneyo, ukuthenga ngexabiso elisezantsi kwimarike enye, nokuthengisa ngentengo ephezulu kwenye ivenkile.
I-Arbitrage yeentengiso ziyakwenzeka xa kuqukwa izinga lokutshintshwa kwemali , njengoko abahwebi banokubona ama-arbitrage amathuba kwixabiso elifanayo ngokukhawuleza, ngoko la mathuba awahlali ixesha elide.
Umzekelo we-arbitrage ithuba elibonakalayo lula ukufumana isitokethi ebhalwe kwiimarike ze-Austrian naseJamani, kwaye ziyabonakala. Enye imarike inamashishini athengisa ngo-6.23 kwaye enye ibenokurhweba nge-6.27 (zombini ixabiso nge-euro, njengoko amazwe omabini ayingxenye ye-European Union). Umthengisi angathengisa izabelo kwi-6.23 kwintsebenziswano enye, kwaye uthengise nge-6.27 kwenye, u-0.04 euro kwinxalenye nganye.
Kuya kuba nzima xa isitokethi okanye enye impahla ixabiso lentengo enye kwichitshintshi enye, kwaye ixabiso lentengo enye kwelinye imali. Ngokomzekelo, kukho amaxesha angama-200 (inani liyashintsha) iinkampani ezidweliswe kwiimarike zentengiso zaseCanada nase-US.
Imasheya kwimarike yaseCanada ibhalwe kwiidola zaseCanada, ngelixa isitokisi esifanayo siya kuxabiswa kwiidola zase-US ekutshintshisweni kwe-US. Ekubeni amaxabiso e-stocks ahlala eguqukayo , kwaye ngoko intengo yokutshintshiselana, izitokisi ezinamafutha afana nalokhu ziyakwazi ukuba nethuba lokufumana i-arbitrage, nangona kufuna umzamo onzima ukufumana amathuba amnandi.
Umzekelo
Yithi ufumana isitokhwe esithengisayo kwi-US exchange, okwangoku ngexabiso lokubuza eli-10 lee-USD kunye ne-USD / CAD yokutshintshisa izinga le-1.30. Umzekelo uthatha le nto yintengo umrhwebi we-arbitrage angatshintshisa imali-mali, ebizwa ngokuba yintengo engcono kakhulu yokushintshisana nomthengisi-ntengiso angakwazi ukufumana kwi-bhanki yakhe.
Ukuba ngaba umthengisi onokubaluleka kakhulu unokufumana ireyithi ye-USD / i-CAD ye-1.3, ngoko kulindeleke ukuba isitokethi kufuneka ithengise malunga ne-13 kwi-Canada exchange exchange ($ 10 US $ X 1.30 USD / CAD = $ 13 yeKhanada).
Ukususela kwisibini ukuya kweyesibini, kunokuthi kubekho ukungafani okuncinci, njengoko ixabiso lemali liguquka kwaye isitokethi sithobela ukuguquka kwexabiso layo ekuthengeni nasekuthengiseni iingcinezelo . Kodwa ukuba abathengisi bebona ithuba elikhulu lokwenza i-arbitrage ithuba lokwenza inzuzo ngokukhawuleza, baya kungena, bancedise ukunyusa imarike engaphantsi kwexabiso (ngokuthenga), kunye ne-market-price-down price (ngokuthengisa), ukuzisa ezo ntengiso buyele kwi-equilibrium.
ILizwi lokugqibela lokuThengiswa kweFungible
Imisebenzi yokuthengisa ifumanekayo xa ungathengisa / uthengise ngechitshini enye, kwaye uthengise / uthenge kwenye intsebenziswano, ubeke isabelo sakho kwisithuba sokungena kwaye usebenzise inzuzo. Utyalo-mali oluthile ludala amathuba arbitrage, njengoko ukungalingani kwintengo kungahlakulela.
Ezi ngqinano zivame ngokukhawuleza zibuyiselwe kwi-equilibrium, njengoko abathengisi bathengisa kwiimarike ezithengileyo kwaye bathenge kwixabiso lemarike ephantsi.