高盛财经词典 - 汉英对照E-J - 钱钱课堂间

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高盛财经词典 - 汉英对照E-J

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额外回报	Excess Return	Returns in excess of the risk-free rate or in excess of a market measure (such as an index fund).
恶性通货膨胀	Hyperinflation	Extremely rapid or out of control inflation.
恶意收购	Hostile Takeover	A takeover attempt that is strongly resisted by the target firm.
二级发行	Secondary Offering	A sale of securities in which one or more major stockholders in a company sell all or a large portion of their holdings. The underwriting proceeds are paid to the stockholders, rather than to the corporation.
二级市场	Secondary Market	A market in which an investor purchases an asset from another investor, rather than an issuing corporation.
二级资本	Tier 2 Capital	A term used to describe the capital adequacy of a bank. Tier II capital is secondary bank capital that includes items such as undisclosed reserves, general loss reserves, subordinated term debt, and more.

发行备忘录	Offering Memorandum	A legal document stating the objectives, risks, and terms of investment involved with a private placement.
发行成本	Flotation Cost	The costs associated with the issuance of new securities.
发行人	Issuer	The entity, such as a corporation or municipality, that offers (or proposes to offer) its securities for sale.
发行、上市	Flotation	The process of changing a private company into a public company by issuing shares and soliciting the public to purchase them.
发行说明书	Offering Circular	An abbreviated prospectus for a new security listing. Delivered to individuals and brokerage houses, these documents are issued to arouse interest in the new issue.
发展阶段	Development Stage	A company that is focusing a majority of its attention on research & development. Because attention is focused on research, earnings are usually very small or nothing.
法定人数	Quorum	The minimum acceptable level of individuals with a vested interest in a company needed to make the proceedings of a meeting valid under the corporate charter.
反垄断法	Anti-trust	The antitrust laws apply to virtually all industries and to every level of business, including manufacturing, transportation, distribution, and marketing. They prohibit a variety of practices that restrain trade. Examples of illegal practices are price-fixing conspiracies, corporate mergers likely to reduce the competitive vigor of particular markets, and predatory acts designed to achieve or maintain monopoly power.
反收购措施	Anti-takeover Measure	Measures taken on a continual or sporadic basis by a firm's management in order to prevent or deter unwanted takeovers.
反收购法规	Anti-takeover Statute	A set of state regulations that prevent or deter companies from attempting hostile takeovers. These regulations vary across state lines and typically affect only the companies incorporated within the state.
反摊薄条款	Anti-dilution Provision	A provision in an option or a convertible security. It protects an investor from dilution resulting from later issues of stock at a lower price than the investor originally paid.
反通货膨胀	Disinflation	A slowing of the rate at which prices increase. Typically, this occurs during a recession as sales drop and retailers are not able to pass on higher prices to customers.
反向收购	Reversed takeover	When a larger company is bought out by a smaller company. The purchasing of a public company by a private company.
范畴经济	Economies of Scope	An economic theory stating that the average total cost of production decreases as a result of increasing the number of different goods produced.
防御性投资	Defensive Buy	An investment that is an attractive buy because it is low risk, not because of its return potential.
防御性投资策略	Defensive Investment Strategy	A method of portfolio allocation and management aimed at minimizing the risk of losing principal. Defensive investors place a high percentage of their investable assets in bonds, cash equivalents, and stocks that are less volatile than average.
房地产	Real Estate	Real estate that generates income.
房地产代理	Real Estate Agent	A person with a state/provincial license to represent a buyer or a seller in a real estate transaction in exchange for a commission. Most agents work for real estate brokers or realtors.
房地产抵押	Mortgage	A loan, secured by the collateral of some specified real estate property, in which the borrower is obligated to make a predetermined set of payments to repay the loan.
房地产抵押银行家	Mortgage Banker	The lender in a mortgage contract, or the one making the loan directly
房地产投资信托	REIT	A security that sells like a stock on the major exchanges and invests in real estate directly, either through properties or mortgages. REITs receive special tax considerations, and typically offer investors high yields as well as a highly liquid method of investing in real estate.
房地产投资信托	Real Estate Investment Trust (REIT)	A security that sells like a stock on the major exchanges and invests in real estate directly, either through properties or mortgages. REITs receive special tax considerations, and typically offer investors high yields as well as a highly liquid method
放宽管制	Deregulation	The reduction or elimination of government power within a particular industry. Deregulation is usually enacted to create more competition within an industry.
非经常项目	Extraordinary Item	Gains or losses included in a company's financial statements, which are infrequent and unusual in nature. These are usually explained further in the 'notes to the financial statements.'
非经常开支	Nonrecurring Charge	An expense occurring only once on a company's financial statement.
非劳动收入	Unearned Income	Any income that comes from investments and other sources unrelated to employment services.
非牟利机构	Non-Profit Organization	An association that is given tax free status. Donations to a non-profit organization are often tax deductible as well.
非强制买回保障	Soft Call Protection	A feature added to convertible fixed-income and debt securities. The provision dictates that a premium will be paid by the issuer if early redemption occurs.
非营运资产	Non-Operating Asset	Assets that are unnecessary to the ongoing operations of a business.
非营运现金流	Non-Operating Cash Flows	Cash inflows and outflows related to non-current investments, financing, and dividends.
分拆上市	Carveout	Sometimes known as a partial spinoff, a carve out occurs when a parent company sells a minority (usually 20% or less) stake in a subsidiary for an IPO or rights offering. Where an established brick-and-mortar company hooks up with venture investors and a new management team to launch an Internet spinoff.
分拆	Demerger	A corporate strategy to sell off subsidiaries or divisions of a company.
分拆、出售资产	Divestiture	Refers to the sale of a subsidiary company, also called "spin-off."
分拆	Spinoff	A new, independent company created through selling or distributing new shares for an existing part of another company.
分拆收购	Unbundling	Taking over a large company with several different lines of business and retaining the core business while selling off the subsidiaries to help fund the takeover.
分股	Stock Split	The division of a company's existing stock into more shares. In a 2-for-1 split, each stockholder would receive an additional share for each share formerly held.

高级证券	Senior Security	A security (usually debt) that, in the event the issuer goes bankrupt, must be repaid before other creditors receive any payment.
高利贷	Loan Sharking	When a borrower is charged interest above an established legal rate. Depending on where you live, lenders typically cannot charge more than 60% interest per annum.
高流通性市场	Liquid Market	A market with many bid and ask offers. The market is characterized by high liquidity, low spreads, and low volatility.
高市值股票	Large-Cap	Companies having a market capitalization between $10 billion and $200 billion.
高折扣债券	Deep Discount Bond	A bond that sells at a significant discount from par value. A bond that has a coupon rate significantly less than the prevailing rates of fixed-income securities with similar risk profiles and is selling at a discount from par value.
告慰函、安慰函	Letter of Comfort	A letter issued to a lending institution by a parent company acknowledging the approval of a subsidiary company's attempt for financing.
GDP差距	GDP Gap	The sacrificed output within a country's economy due to the failure to create sufficient jobs for all those willing to work.
GDP平减数	GDP Deflator	An economic metric used to account for inflation by converting output measured at current prices into constant-dollar GDP. The GDP deflator shows how much a change in the base year's GDP relies upon changes in the price level.
格林斯潘	Alan Greenspan	Dr. Greenspan is Chairman of the Board of Governors of the Federal Reserve System. He is serving his fourth four-year term ending June 20, 2004. Dr. Greenspan also serves as Chairman of the Federal Open Market Committee (FOMC), the Fed's principal monetary policymaking body.
格林斯潘对策	Greenspan Put	A colloquial term used to describe the Chairman of the Federal Reserve Board's actions in preventing significant and sustained market downturns.
隔夜利率	Overnight Rate	The interest rate at which a depository institution lends immediately available funds (balances within the central bank) to another depository institution overnight.
隔夜指数掉期	Overnight Index Swap	An interest rate swap involving the overnight rate being exchanged for some fixed interest rate.
跟随权	Tag Along Rights	A procedure used to protect a minority shareholder (usually in a venture capital deal). Basically, if a majority shareholder sells their stake, then the minority shareholder has the right to join the transaction and sell their minority stake in the company.
公开市场委员会	FOMC	The body that sets the interest rate and credit policies of the Federal Reserve System.
公开市场委员会	Federal Open Market Committee (FOMC)	The body that sets the interest rate and credit policies of the Federal Reserve System.
公开说明

H股	H-Shares	A share of a Chinese company listed on the Hong Kong Stock Exchange.
行业	Industry	A category used to describe a company's primary business activity, usually determined by the largest source of a company's revenues.
行业基金	Sector Fund	A mutual fund whose objective is to invest in a particular industry or sector of the economy to capitalize on returns.
行业类股	Sector	A particular group of securities that are in the same industry.
合并	Merger	The combining of two or more companies, generally by offering the stockholders of one company securities in the acquiring company in exchange for the surrender of their stock.
合并套利	Merger Arbitrage	A hedge fund strategy whereby the stocks of two merging companies are simultaneously bought and sold to create a riskless profit. Merger arbitrageur look at the risk of the deal not closing on time or at all. Because of this slight uncertainty the target company's stock will typically sell at a discount to the price that the combined company has when the merger is closed.
合成出售期权	Synthetic Put	An investment strategy of short selling a security and entering a long position on its call.
合成有抵押债务	Synthetic Collateralized Debt Obligation	An artificial collateralized debt obligation that is backed by a pool of credit derivatives.
合成租赁	Synthetic Lease	An operating lease that is structured in a way so that it is not recorded as a liability on the balance sheet. Instead, it is considered to be an expense on the income statement.
合资格机构投资者	QIB	Primarily referring to institutions that manage at least $100 million in securities including banks, savings and loans institutions, insurance companies, investment companies, employee benefit plans, or an entity owned entirely by qualified investors. Also included are registered broker-dealers owning and investing, on a discretionary basis, $10 million in securities of non-affiliates.
合资格机构投资者	Qualified Institutional Buyer (QIB)	Primarily referring to institutions that manage at least $100 million in securities including banks, savings and loans institutions, insurance companies, investment companies, employee benefit plans, or an entity owned entirely by qualified investors. Also included are registered broker-dealers owning and investing, on a discretionary basis, $10 million in securities of non-affiliates.
合资企业、合资经营	Joint Venture	The cooperation of two or more individuals or businesses in a specific enterprise, each agreeing to share profit, loss, and control.
荷兰拍卖	Dutch Auction	An auction where the price on an item is lowered until it gets its first bid, and then the item is sold at that price.
黑色星期四	Black Thursday	The colloquial name given to Thursday, October 24th, 1929 when the New York Stock Exchange plummeted leading to the great depression of the 1930's.
黑色星期一	Black Monday	The most notorious day in financial history (October 19, 1987). The DJIA fell 508 points, almost 22%. This stands as the largest one-day drop in NYSE history.
黑武士	Black Knight	A company that makes a hostile takeover offer on a target company.
恒生指数	HSI	An index of the leading stocks on the Hong Kong stock market.
恒生指数	Hang Seng Index (HSI)	An index of the leading stocks on the Hong Kong stock market.
横向合并	Horizontal Merger	A merger occurring between companies producing similar goods or offering similar services.
横向整合	Horizontal Integration	When a company expands its business into different products that are similar to current lines.
红筹公司	Red Chip	A company incorporated and listed in Hong Kong with controlling Chinese shareholders.
红头招股书、公开说明书初稿	Red Herring	A preliminary registration statement that must be filed with the SEC or provincial securities commission. It describes the issue (IPO) and the prospects of the company. There is no price or issue size stated in the Red Herring.
宏观经济	Macroeconomics	The field of economics that studies the behavior of the economy as a whole.
后进先出	LIFO	A inventory management and valuation method whereby products acquired last are the ones sold first.
后进先出	Last In First Out (LIFO)	A inventory management and valuation method whereby products acquired last are the ones sold first.
后门上市/借壳上市	Back Door Listing	A strategy of going public used by a company that fails to meet the criteria for listing on a stock exchange. To get onto the exchange, the company desiring to go public acquires an already-listed company.
后线	Back Office	Administration and support personnel in a financial services company. They carry out functions like: settlements, clearances, record maintenance, regulatory compliance, accounting, etc.
后续发行	Follow-on Offering	An offering of additional shares after a company has had an initial public offering.
后续发行	Subsequent Offering	An offering of additional shares after a company has had an initial public offering (IPO).
互相争夺市场	Market Cannibilization	The negative impact a new product has on the sales performance of a company's existing, related products.
华尔街	Wall Street	The street in New York where the NYSE is located. The NYSE itself. Also the collective name for the financial institutions in New York City. Including stock exchanges, banks, commodity markets, money markets, etc.
还本付息	Debt Service	Cash required in a given period for the repayment of interest and principal of a debt.
换算风险	Translation Exposure	The exchange rate risk associated with companies that deal in foreign currencies or list foreign assets upon their balance sheets.
黄金股	Golden Share	A type of share that gives its shareholder veto power over changes to the company's charter.
黄金降落伞	Golden Parachute	Lucrative benefits given to top executives in the event that a company is taken over by another firm, resulting in the loss of their job. Benefits include items such as stock options, bonuses, severance pay, etc.
黄金救生衣	Golden Lifejacket	An exceptional compensation package an acquiring company offers to the top executives of the company being acquired. The offer is meant to keep these executives attracted to holding their offices.
黄武士	Yellow Knight	A company that was once making a takeover attempt but ends up discussing a merger with the target company.
灰市	Gray Market	An unofficial market where new issues of shares are bought and sold before they officially become available for trading on the stock exchange. The sale of goods by unauthorized dealers.
灰武士	Gray Knight	A second, unsolicited bidder in a corporate takeover. A gray knight enters the scene in order to take advantage of any problems between the first bidder and the target company.
回报率	Return	The gain or loss for a security in a particular period, consisting of income plus capital gains relative to investment. It is usually quoted as a percentage.
回购	Buy Back	The buying back of shares by a corporation in order to reduce the number of shares on the market. D207The purchasing of shares previously sold short so the open position is closed.
回购股份	Share Repurchase	A company's plan to buy back its own shares from the marketplace, reducing the number of outstanding shares. Typically, this is an indication that the company's management thinks the shares are undervalued
混合证券	Hybrid Security	A security that combines two or more different financial instruments.
活动比率	Activity Ratio	Accounting ratios that measure a firm's ability to convert different accounts within their balance sheets into cash or sales.
活动收入	Active Income	Income for which services have been performed. This includes wages, tips, salaries, commissions, and income from businesses in which there is material participation
活期存款	Demand Deposit	An account where deposited funds can be withdrawn at any time.
活跃债券投资者	Active Bond Crowd	A term used to describe fixed-income securities that trade frequently on the floor of the NYSE.
货币	Currency	Money circulated within an economy, including coins and paper notes.
货币掉期	Currency Swap	A swap that involves the exchange of principal and interest in one currency for the same in another currency.
货币管理外包	Currency Overlay	The outsourcing of currency risk management to a specialist firm, known as the overlay manager. This is used in international investment portfolios to separate the management of currency risk from the asset allocation and security selection decisions of the investor's money managers.
货币供应	Money Supply	The entire quantity of a country's bills, coins, loans, credit, and other liquid instruments in the economy. It is divided into three categories, M1, M2, and M3, according to the type and size of account the instrument is kept in.
货币供应量1	M1	The category of the money supply that includes all physical money like coins and currency. It also includes demand deposits, which are checking accounts and NOW accounts.
货币供应量2	M2	A category of the money supply that includes M1 in addition to all time-related deposits, savings deposits, and non-institutional money-market funds.
货币供应量3	M3	A category of the money supply that includes M2 in addition to all large time deposits, institutional money-market funds, short-term repurchase agreements, along with other larger liquid assets.
货币流量	Money Flow	Calculated by averaging the high, low, and closing prices, and multiplying by the daily volume. Comparing that result with the number for the previous day tells you whether money flow was positive or negative for the current day.
货币流量指数	Money Flow Index (MFI)	A momentum indicator that measures the strength of money in and out of a security. A divergence between the MFI and price trend can be interpreted as a possible trend reversal.
货币期货	Currency Futures	A transferable futures contract that specifies the price at which a specified currency can be bought or sold at a future date.
货币期权	Currency Option	A contract that grants the holder the right, but not the obligation, to buy or sell currency at a specified price during a specified period of time.
货币市场	Money Market	The securities market dealing in short-term debt and monetary instruments. Money market instruments are forms of debt that mature in less than one year and are very liquid.
货币市场基金	Money Market Fund	A mutual fund that invests in short-term debt instruments. The fund's objective is to earn interest for shareholders while maintaining a net asset value of $1.00 per share.
货币市场账户	Money Market Account	A savings account that offers the competitive rate of interest (real rate) in exchange for larger than normal deposits.
货币远期	Currency Forward	A forward contract that locks-in the price an entity can buy or sell currency on a future date.
货币政策	Monetary Policy	The actions of a central bank, currency board, or other regulatory committee, that determine the size and rate of growth of the money supply, which in turn affects interest rates.
获利抛售	Profit Taking	Occurs when traders sell stock to cash in on a sharp rise. This action pushes prices down temporarily.

机构基金

Institutional Fund

A mutual fund targeting high value investors with low fees, but high minimum requirements.

机构经纪人预测系统

IBES

A system that gathers and compiles the different estimates made by stock analysts on the future earnings for the majority of U.S. publicly traded companies.

机构经纪人预测系统

Institutional Brokers' Estimate System (IBES)

A system that gathers and compiles the different estimates made by stock analysts on the future earnings for the majority of U.S. publicly traded companies.

机构投资者

Institutional Investor

A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. Institutional investors face less protective regulations because it is assumed that they are more knowledgeable and better able to protect themselves

机构债券

Agency Bonds

A bond issued by a government agency.

机构证券

Agency Securities

Low risk debt obligations issued by enterprises that the U.S. Government sponsors.

机会成本

Opportunity Cost

The difference in return between a chosen investment and one that is passed up.

机械化投资

Mechanical Investing

Buying and selling stocks based on criteria that meets the predetermined mechanical investing screen. This screen usually ranks stocks using the central element of relative strength or momentum, but other indicators can also be used. Investors buy the top 5-10 stocks according to this type of screening process.

积极管理

Active Management

An investing strategy that seeks returns in excess of a specified benchmark.

积极投资

Active Investing

An investment strategy involving ongoing buying and selling actions of the investor. Active investors will purchase investments and continuously monitor their activity in order to exploit profitable conditions.

基本面分析

Fundamental Analysis

A method of evaluating securities by attempting to measure the intrinsic value of a particular stock. Fundamental analysts study everything from the overall economy and industry conditions, to the financial condition and management of companies.

基本时期

Base Period

A particular time period used for comparative purposes when measuring economic data.

基础设施

Infrastructure

The basic physical systems of a nation.

基点

Basis Point (BP)

A measure of a bond's yield, equal to 1/100th of 1% of yield. A bond whose yield increases from 5.0% to 5.5% is said to increase by 50 basis points.

基金经理

Fund Manager

The person responsible for investing of a mutual fund's assets, implementing its investment strategy, and managing in day-to-day portfolio trading.

基金中的基金

Funds of Funds

A mutual fund which invests in other mutual funds.

基于财务表现额外对价条款

Earnout

A contractual provision where the seller of a business obtains additional consideration based on the business achieving certain financial goals in the future. These goals are usually stated as a percentage of gross sales or earnings.

基准

Benchmark

Anything that serves as a standard for something's performance to be measured against.

基准债券

Benchmark Bond

A bond that provides a standard for comparing the performance of other bonds. Government bonds are almost always used as benchmark bonds.

激进会计法

Aggressive Accounting

The practice of inappropriately misconstruing income statements for the purpose of pleasing investors and inflating stock prices.

及时生产

Just In Time

A production strategy companies employ to increase efficiency and decrease waste by producing goods only as they are ordered or needed.

即付年金

Annuity Due

An annuity whose payment is to be made immediately, rather than at the end of the period.

即期交易

Spot Trade

The purchase and sale of a foreign currency or commodity for immediate delivery.

即期票据

Demand Note

A loan with no fixed term or set duration of repayment. It can be recalled upon the lenders request, assuming the notice required by the provisions of the loan are met.

积压待发股票、悬货

Overhang

Calculated as stock options granted, plus the remaining options to still be granted, and then divided by the total shares outstanding.

集体基金

Collective Fund

An investment vehicle that combines tax exempt assets of various individuals and organizations in order to create a well diversified portfolio.

挤油交易、反复买卖

Churning

An unethical practice employed by some brokers to increase their commissions by excessively trading in a client's account

计量经济学

Econometrics

The application of statistical theories to economic ones for the purpose of forecasting future trends.

记录日

Record Date

The date established by an issuer of a security for the purpose of determining the holders who are entitled to receive a dividend or distribution

技术分析

Technical Analysis

A method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume. Technical analysts do not attempt to measure a security's intrinsic value. Technical analysts often use charts to identify patterns that can suggest future activity.

季度（第一季度、第二季度、第三季度、第四季度）

Q1, Q2, Q3, Q4

A three-month period on a financial calendar that acts as a basis for the reporting of earnings and the paying of dividends.

季度（第一季度、第二季度、第三季度、第四季度）

Quarter (Q1, Q2, Q3, Q4)

A three-month period on a financial calendar that acts as a basis for the reporting of earnings and the paying of dividends.

加快折旧

Accelerated Depreciation

Any method of depreciation used for accounting or income tax purposes that allows greater deductions in the earlier years of the life of an asset.

加强信贷措施

Credit Enhancement

A method whereby a company attempts to improve its debt or credit worthiness.

加权平均资本成本

WACC

A calculation of a firm's cost of capital that weights each category of capital proportionately. Included in the WACC calculation are all capital sources including: common stock, preferred stock, bonds, and any other long term debt.
WACC is calculated by multiplying the cost of each capital component by its proportional weighting and then summing:

Where:
Re = cost of equity
Rd = cost of debt
E = the market value of the firm's equity
D = the market value of the firm's debt
V = E + D
E/V = percentage of financing that is equity
D/V = percentage of financing that is debt
Tc = the corporate tax rate

加权平均资本成本

Weighted Average Cost of Capital (WACC)

加权平均总市值

Weighted Average Market Capitalization

A stock market index weighted by the value of all shares outstanding for each stock.

家庭成员

Member of Household

A person who has lived in the taxpayer's home for the entire tax year.

家庭开支

Household Expenses

A per person breakdown of general living expenses. It includes the amount paid for lodging, food consumed within the home, utilities paid, and other expenses. The sum of all the expenses is then divided by the number of family members residing in the house in order to find each member's part of the total expense.

夹层融资

Mezzanine Financing

A type of equity financing used in takeovers. It uses preferred shares and convertible securities to make a target firm larger.
Financing that combines debt and equity.

价差、息差

Spread

The difference between the bid and the ask prices of a security or asset.
An options position established by purchasing one option and selling another option of the same class, but of a different series.

价格波幅

Range

A stocks low price and high price for a particular trading period, such as the close of a day's trading, the opening of a day's trading, a day, a month, or a year.

价格发现

Price Discovery

A method of determining the price for a specific commodity through basic supply and demand factors related to the market

价格风险

Price Risk

The risk that the value of a security or portfolio of securities will decline in the future.

价格回升

Rally

A rise in the prices of individual securities, bonds, or indexes, following a period of flat or declining prices.

价格目标

Price Target

The projected price level as stated by an investment analyst or advisor.

价值股票

Value Stock

A stock that is considered undervalued by a value investor. Common characteristics of such stocks include a high dividend yield and low price-to-book ratio.

价值链

Value Chain

A high-level model of how businesses receive raw materials as input, add value to the raw materials through various processes, and sell finished products to customers

价值评估

Appraisal

An opinion of value for a property or business.

价值投资

Value Investing

The process of selecting stocks that trade for less than their intrinsic value. A value investor typically selects stocks with lower than average price-to-book or price-to-earning ratios.

坚定承诺

Firm commitment

A lending institution's promise to enter into a loan agreement with a specific entity, within a certain period of time.
An underwriter's agreement to assume all inventory risk and purchase all securities directly from the issuer for sale to the public at the price specified.

减记

Write-Down

Reducing the book value of an asset because it is overvalued compared to market values.

减价、调低标价

Markdown

The difference between the highest current bid price among broker-dealers in the market and the lower price that a dealer charges a customer.

减损盈利的收购项目

Dilutive Acquisition

An acquisition that will decrease the acquiring company's EPS.

减债

Deleverage

The reduction of financial instruments or borrowed capital previously used to increase the potential return of an investment. It is the opposite of leverage.

间接成本

Overhead

A reference in accounting to all costs not including or related to direct labor, materials, or administration costs

交叉持股

Cross Holding

When listed corporations own securities issued by other listed corporations.

交叉代理人

Agency Cross

A trade that has only one agent acting for the buyer and seller. Also known as Dual Agency.

交叉对冲

Cross Hedge

The act of hedging ones position by taking an offsetting position in another good with similar price movements.

交叉基金

Crossover Fund

An investment fund that invests in both public and private equity.

交叉交易

Cross

When a broker receives a buy and sell order for the same stock at the same price, and subsequently makes a simultaneous trade between two separate customers.

交割价格

Delivery Price

A price for the delivery of underlying commodities upon the expiration of futures contracts. This price is fixed by clearing houses.

交割、交货

Delivery

The act whereby an underlying commodity, security, cash value, or delivery instrument covering the commodity is tendered and received by the contract holder.

交割日期

Delivery Date

The final date by which the underlying commodity for a futures contract must be delivered in order for the terms of the contract to be fulfilled.
The maturity date of a currency forward contract.

交割文件

Delivery Instrument

A document that stands in lieu of the physical underlying during the delivery of the futures contract.

交割月份

Delivery Month

The month in which a contract expires and delivery of the underlying or cash is required for fulfillment.

交易单位、批

Lot

In general, any group of goods or services making up a transaction.

交易对手风险

Counterparty Risk

The risk to each party of a contract that the counterparty will not live up to their contractual obligations.

交易后估值

Post-Money Valuation

The value of a company after external financing alternatives are added to its balance sheet.

交易控制

Curb

A temporary restriction on program trading in a particular security or market, usually to reduce dramatic price movements.

交易量、成交量

Volume Of Trade

The number of shares or contracts traded in a security or an entire market during a given period.

交易前估值

Pre-Money Valuation

The value of a company before external financing alternatives are added to its balance sheet.

交易所分销

Exchange Distribution

A trade made on the floor of a securities exchange, where a large block of shares traded actually represent many buy and sell orders that have been pooled and executed as one transaction.

交易所指数基金

Exchange Traded Fund

A security that tracks an index but has the flexibility of trading like a stock. Just like an index fund, an ETF represents a basket of stocks that reflect an index. The difference is that an ETF isn't a mutual fund - it trades just like any other company on a stock exchange. Unlike a mutual fund, which have their net asset value (NAV) calculated at the end of each trading day, an ETF's price changes throughout the day from buying and selling.

结构性票据

Structured Note

A synthetic medium-term debt obligation with embedded components and characteristics that adjust the risk/return profile of the security.
An instrument whose value is determined by the price movement of the asset underlying the note. It allows investors to realize a profit from favorable price movements.

结构性融资

Structured Finance

A service offered by many large financial institutions for companies with very unique financing needs. These financing needs usually don't match conventional financial products such as a loan. Structured finance generally involves highly complex financial transactions.

结构性失业

Structural Unemployment

Unemployment resulting from changes in the basic composition of the economy. These changes simultaneously open new positions for trained workers.

结晶交易

Crystallization

The act of selling and buying stocks almost instantaneously in order to increase or decrease book value.

结算

Clearing

The procedure by which an organization acts as an intermediary and assumes the role of a buyer and seller for transactions in order to reconcile orders between transacting parties.

结算费用

Clearing Fee

A fee charged by clearing corporations for their services provided to investment firms.

结算行

Clearing House

This is a firm that guarantees the obligations of the parties in an exchange traded security or derivative transaction.

结算价格

Settlement Price

The average price that a contract trades at, calculated for both the open and the close of each trading day.

结算日期

Settlement Date

The date by which an executed security trade must be settled. That is, the date by which a buyer must pay for the securities delivered by the seller.
The payment date of benefits from a life insurance policy.

借项、借方

Debit

An accounting entry which results in either an increase in assets or a decrease in liabilities or in your bank account.

今天最低

Today's Low

The intra-day low trading price.

今天最高

Today's High

The intra-day high trading price.

金钱、货币

Money

A commodity or asset, such as gold, an officially issued currency, coin, or paper note, that can be legally exchanged for something equivalent, such as goods or services.
D1083As defined by common law: a medium of exchange authorized or adopted by a domestic or foreign government and includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more nations.

金融超级市场

Financial Supermarket

A financial company that offers a wide range of services to its clients.

金融时报股票交易所指数

FTSE

A company that specializes in index calculation. Although not part of a stock exchange, co-owners include the London Stock Exchange and the Financial Times.

金融中介机构

Financial Intermediary

An institution that acts as the middleman between investors and firms raising funds. Often referred to as financial institutions.

金融资产

Financial Asset

An asset that derives value because of a contractual claim. Examples are stocks, bonds, or bank deposits.

金融资产重整

Financial Engineering

The creation of new and improved financial products through innovative design or repackaging of existing financial instruments.

金手铐

Golden Handcuffs

An incentive given to existing employees in hopes that they will decide to stay with the company.

紧缩

Squeeze

In financial terms, a period of time when borrowing is difficult.
In general business terms, times when increasing costs cannot be passed onto consumers. The decrease in profits is said to be caused by a squeeze on profit margins.

紧缩信贷

Credit Crunch