2021年1月23日发(作者：机械锤)
Financial Markets
Financial market
金融市场
: A financial market is a market in which people and entities can trade
financial securities, commodities and other fungible items of value at low transaction costs and at
prices that reflects supply and demand.
International
financial
market
国际金融市场
:
A
financial
market
that
involves
participants
all
over the world.(
查不到自己编的，请慎重考虑
)
Direct financing
直接融资
: An investor purchases the securities issued by ultimate borrowers (i.e.
without intermediaries).
Indirect
financing
间接融资
:
Indirect
financing
is
where
borrowers
borrow
funds
from
the
financial market through indirect means, such as through a financial intermediary.
Money market
货币市场
: Money market is a component of financial market for assets involved in
short-term borrowing, lending, buying and selling with ORIGINAL maturities of one year or less.
Capital market
资本市场
: Capital market provides for the buying and selling of long-term(over 1
year) debts or equity-backed securities.
Foreign exchange market (or currency market)
外汇市场
: Foreign exchange market deals with the
exchanges of different means of payment.

Primary market
一级市场
: A primary market is a market in which new issues of a security (like a
bond or a stock), are sold to initial buyers by the corporation or government agency borrowing
the funds.
Secondary market
二级市场
: A secondary market is where is where the sale of previously issued
securities takes place.
Exchange
market
交易所市场
:
It
is
a
highly
organized
market
where
tradable
securities,
commodities, foreign exchanges, futures and option contracts are sold and bought.

OTC market
柜台市场
: over-the-counter market. A decentralized market of securities not listed
on
an
exchange
where
market
participants
trade
over
the
telephone,
facsimile
or
electronic
network instead of a physical trading floor.
Technical
analysis
技术分析
:
It
is
the
art
of
deducing
probable
future
trend
from
historical
records of stock trading. (the study of the stock market itself rather than external factors)
Fundamental analysis
基本面分析或基础分析
: It examines all relevant factors affecting the stock
price in order to determine an intrinsic value for that stock.
The
top-down
approach
or
Economy-Industry-Company(EIC)
model
自上而下法
:1)select
a
country which could offer the investors better returns from other economies;2)select promising
industries and companies in this country.
The bottom-up or stock picking approach
自下而上法
: It is to find undervalued stocks regardless
of the market and industry factors.

Capital Market
Bond
债券
: Bonds are securities that represent a debt owed by the issuer to the investor. They
obligate the issuer to pay a specified amount at a given date.
Government
notes
and
bonds(Treasury
bonds)
国库券
:
They
are
issued
to
finance
the
national
debt. Difference: notes have a original maturity of 1year to 10 years while bonds have a original
maturity of 10-30 years. Note that they are free of default risk.
Corporate
bonds
公司债券
:
Large
corporations
issue
bonds
in
order
to
borrow
funds
for
long
periods of time. The bond indenture is a contract that states the lender’s rights and
privileges and
the the borrower’s obligations.

Stock
股票
: Shares of stock in the firm represent ownership.
Outstanding stock
流通股
: The shares of a corporation’s stock that have been issued and are in
the hands of the public.
Mortgage loan
抵押贷款
: A mortgage loan is a loan secured by real property.

Foreign Exchange Market
Exchange rate
汇率
: The ratio of two different currencies.
Bills of exchange
票据
: They are financial documents that require the individual or business that
is addressed in the document to pay a specified amount of money on a date that is cited in the
document.
Demand
draft
即期汇票
:
It
is
a
check
created
by
a
merchant
with
a
buyer’s
checking
account
number on it, but without the buyer’s original signature.

Bankers draft
银行汇票
: It is a check where the funds are taken directly from financial institutions
rather than the individual drawer’s account.

Foreign bond
外国债务
: A bond issued in a domestic market by a foreign entity, in the domestic
market’s currency.

Dividend check
股利支票
: A share of profits in the form of checks received by a stockholder.
（查
不到自己编的，请慎重考虑）

Pension check
养老金支票
: A sum of money in the form of checks paid regularly as a retirement
benefit or by way of patronage.(
查不到自己编的，请慎 重考虑。另外，
pension
没有年金的意
思，年金是
annuity)
Travelers’ check
旅行支票
: It is a preprinted, fixed-amount check designed to allow the person
signing it to make an unconditional payment to someone else as a result of having paid the issuer
for that privilege.

Direct quotation method
直接报价法
: The rates are quoted in terms of variable number of home
currency per fixed foreign currency unit.
Indirect
quotation
method
间接报价法
:
The
rates
are
quoted
in
terms
of
variable
number
of
foreign currency per fixed home currency unit.
Convertible
currency
自由兑换货币
:
The
holder
of
a
convertible
currency
can
change
it
freely
into another currency.
Spot
rate
即期汇率
:
The
price
that
is
quoted
for
immediate
settlement
on
a
commodity,
a
security or a currency .
Forward
rate
远期汇率
:
A
rate
applicable
to
a
financial
transaction
that
will
take
place
in
the
future.
Cross rate
交叉汇率
: The exchange rate between two currencies expressed as the ratio of two
foreign exchange rates that are both expressed in terms of a third currency.

Financial Instruments
Financial instruments
金融工具
: A financial instrument is a tradable asset of any kind; either cash,
evidence of an ownership interest in an entity, or a contractual right to receive or deliver cash or
another financial instrument.

Debt instruments
债务工具
: They are contractual agreements by the borrower to pay the holder
of the instruments fixed amount at regular intervals until the maturity date.
Equities
权益工具
: They are claim to share in the net income and assets of a business.
Cash
instruments
直接金融工具
:
Cash
instruments
are
financial
instruments
whose
value
is
determined directly by the markets.

Derivative instruments
衍生工具
: They are financial instruments which derive their value from
the
value
and
characteristics
of
one
or
more
underlying
entities
such
as
an
asset,
index,
or
interest rate.

Maturity
date
到期日
:
The
maturity
of
the
debt
instrument
is
the
time
to
th
e
instrument’s
expiration date.

Short-term debt
短期债务
: Its maturity is less than a year.
Long-term debt
长期债务
: Its maturity is ten year or longer.
Intermediate-term debt
中期债务
: Its maturity is between one and ten years.
Common
stock
普通股
:
Its holders will
have
th
e ownership
of
the
corporation’s
profit
and
the
interest
produced
by
its
assets,
the
right
to
vote
for
its
board
of
directors
and
the
right
asset
distribution in case of its bankruptcy.
Preferred
stock
优先股
:
Its
holders
will
have
the
right
to
get
a
portion
of
dividends
before
its
distribution to all Common Stock holders, but they have no right to vote or veto for the board of
directors.

Dividends
股利
: It is the portion of corporate profits paid out to stockholders.

Capital gain
资本利得
: A capital gain is a profit that results from a disposition of a capital asset.
Forward contract
远期合同
: An agreement to buy or sell an asset at a certain date at a certain
price.
Forward price
远期价格
: The agreed upon price of the underlying asset in a forward contract.
Futures
期货
: Futures are standardized forward transactions which are traded on exchanges, i.e.
not OTC.


Swaps
掉期互换
:
It
contains
two
simultaneous
inseparable
contract- deals,
the
first
for
spot
delivery, and the second for future delivery.
Option
期权
: A contract in which the writer promises that the contract buyer has the right, but
not the obligation, to buy or sell a certain security at a certain price (the strike price) on or before
a certain expiration date.

Foreign
exchange
option
外汇期权
:
It
gives
the
owner
the
right
but
not
the
obligation
to
exchange money denominated in one currency into another currency at a pre-agreed exchange
rate on a specified date.
European
option
contract
欧式期权
:
An
option
contract
that
may
only
be
exercised
on
the
expiration date.
American option
美式期权
: An option contract that may be exercised at any time on or before
the expiration date.
Call
Option
看涨期权（买入
):
The
right
to
buy
a
certain
amount
of
a
currency
at
a
fixed
rate
(strike price) at a pre-arranged expiry date
Put Option
看跌期权
（卖出
): The right to sell a certain amount of a currency at a fixed rate (strike
price) at a pre-arranged expiry date.

Financial Institutions
Financial
institution(financial
intermediation/
financial
intermediary)
金
融
机
构
:
Financial
institution is an institution that provides financial services for its clients or members.


Commercial
banking
商业银行活动
:
1)
creation
of
money
through
lending
and
investing
activities;2)holding
of
the
deposits;3)provision
of
a
mechanism
for
payment
and
transfer
of
funds.
Investment
banking
投资银行活动
:
Investment
banking
are
banking
activities
associated
with
securities underwriting, making a market in securities, and arranging mergers, acquisitions and
restructuring.
Pension fund
养老基金
: A pension fund is any plan, fund, or scheme which provides retirement
income.

The Central Bank
中央银行
: A central bank is a public institution that manages a state's currency,
money
supply,
and
interest
rates.
Central
banks
also
usually
oversee
the
commercial
banking
system of their respective countries.


Commercial Banking
T-bill
国库券
:
T-bills
which
have
no
default
risks
are
issued
by
the
government
to
finance
the
national debt.
The
negotiable
certificate
of
deposit
可转让定期存单
:
A
negotiable
certificate
of
deposit
is
a
bank-issued security that documents a deposit and specifies the interest rate and the maturity
date.
Bankers’
acceptances
银行承兑汇票
:

A
short-term
debt
instrument
issued
by
a
firm
that
is
guaranteed by a commercial bank.
Repurchase agreements
回购协议
: It is the sale of securities together with an agreement for the
seller to buy back the securities at a later date
Settlement
结算
:
Settlement
is
the
striking
of
a
balance
between
two
or
more
parties
having
dealings with one another.
Trust
信托
:
A
relationship
in
which
one
party,
known
as
the
trustor,
gives
to
a
person
or
organization, known as the trustee, the right to hold and invest assets or property on behalf of a
third party, known as the beneficiary.
Lease
租赁
:
An
agreement
between
two
parties
whereby
one
party
allows
the
other
to
use
his/her property for a certain period of time in exchange for a periodic fee.
Factoring
保理
:
Factoring
is
short-term
financing
from
the
nonrecourse
sale
of
accounts
receivable to a third party.
Debtor
债务人
: A person, company, or other organization that owes money to another individual,
company, or organization.
Creditor
债权人
: A person or company to whom one owes money.
Promissory Notes
本票
: A written promise made by one party to make a stated payment in full by
a certain date.
Payment
order
付款委托书
:
Instructions
to
transfer
funds
sent
via
paper
and/or
electronic
means.
Mail Transfer(M/T)
信汇
: A mail transfer is to transfer funds by means of a payment order or a
mail advice, or sometimes a debit advice issued by a remitting bank, at the request of a remitter.
Demand Draft(D/D)
票汇
: A draft or bill that is payable on demand or upon presentation.
Telegraphic Transfer (T/T)
电汇
: Telegraphic transfer refers to remittance by Swift.
Documentary collection
跟单托收
: It is an operation in which a bank collects payment on behalf
of the seller (the principal) by delivering documents to the buyer.