中文摘要：

基于还原剂形式来临，这纸调查缺省风险契约的定价问题，信用缺省交换(CDS ) 为部分随机的利率当模特儿与在框架下面跳主要第二等。关于部分 Brownian 的伪鞅的使用的性质派克(2008 ) 里的运动和 jump 技术，作者首先导出明确的定价可默认的契约的公式。基于可默认的契约的最新获得的定价公式，然后， CDS 被没有套利的原则定价。这篇论文在 Jarrow 和于(2001 ) 论述主要第二等的框架的延期。

英文摘要：

Based on the reduced-form approach, this paper investigates the pricing problems of default-risk bonds and credit default swaps （CDSs） for a fractional stochastic interest rate model with jump under the framework of primary-secondary. Using properties of the quasi-martingale with respect to the fractional Brownian motion and the jump technique in Park （2008）, the authors first derive the explicit pricing formula of defaultable bonds. Then, based on the newly obtained pricing formula of defaultable bonds, the CDS is priced by the arbitrage-free principle. This paper presents an extension of the primary-secondary framework in Jarrow and Yu （2001）.