期货英语词典Word文档格式.docx

期货英语词典Word文档格式.docx

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At-the-MoneyOption:

Anoptionwhosestrikepriceisequal—orapproximatelyequal—tothecurrentmarketpriceoftheunderlyingfuturescontract.平值期权

B

Backwardation:

Afuturesmarketinwhichtherelationshipbetweentwodeliverymonthsofthesamecommodityisabnormal.延期交割贴水，与延期交割升水（Contango）相对，也见逆转市场（InvertedMarket）

Basis:

Thedifferencebetweenthecurrentcashpriceofacommodityandthefuturespriceofthesamecommodity.基差

BearMarket（Bear/Bearish）:

Amarketinwhichpricesaredeclining.Amarketparticipantwhobelievespriceswillmoveloweriscalleda“bear.”Anewsitemisconsideredbearishifitisexpectedtoresultinlowerprices.熊市

Bid:

Anexpressionofwillingnesstobuyacommodityatagivenprice;

theoppositeofOffer.买方出价，买方叫价

BoardofTrade:

交易所，见合约市场（ContractMarket）

Broker:

Acompanyorindividualthatexecutesfuturesandoptionsordersonbehalfoffinancialandcommercialinstitutionsand/orthegeneralpublic.经纪商，经纪人

Bucketing:

Directlyorindirectlytakingtheoppositesideofacustomer’sorderintothebroker’sownaccountorintoanaccountinwhichthebrokerhasaninterest,withoutopenandcompetitiveexecutionoftheorderonanexchange.对敲

BullMarket（Bull/Bullish）:

Amarketinwhichpricesarerising.Amarketparticipantwhobelievespriceswillmovehigheriscalleda“bull.”Anewsitemisconsideredbullishifitisexpectedtoresultinhigherprices.牛市

C

CallOption:

Anoptionwhichgivesthebuyertheright,butnottheobligation,topurchase（“golong”）theunderlyingfuturescontractatthestrikepriceonorbeforetheexpirationdate.看涨期权、买入期权

CarryingCharge:

Thecostofstoringaphysicalcommodity,suchasgrainormetals,overaperiodoftime.Thecarryingchargeincludesinsurance,storageandinterestontheinvestedfundsaswell

asotherincidentalcosts.Ininterestratefuturesmarkets,itreferstothedifferentialbetweentheyieldonacashinstrumentandthecostofthefundsnecessarytobuytheinstrument.持仓费，也指持有成本（CostofCarry）

CashCommodity:

Theactualphysicalcommodityasdistinguishedfromthefuturescontractbasedonthephysicalcommodity. 

现货商品，也指现货（Actuals）

CashMarket:

Aplacewherepeoplebuyandselltheactualcommodities（i.e.,grainelevator,bank,etc.）.现货市场，也见远期市场（Forward（Cash）Contract）和现货（Spot）

CashSettlement:

Amethodofsettlingcertainfuturesoroptionscontractswherebythemarketparticipantssettleincash（ratherthandeliveryofthecommodity）.现金结算

Charting:

Theuseofgraphsandchartsinthetechnicalanalysisoffuturesmarketstoplotpricemovements,volume,openinterestorotherstatisticalindicatorsofpricemovement.图表分析，也见技术分析（TechnicalAnalysis）

Churning:

Excessivetradingthatresultsinthebrokerderivingaprofitfromcommissionswhiledisregardingthebestinterestsofthecustomers.炒单、频密买卖、揩油交易

CircuitBreaker:

Asystemoftradinghaltsandpricelimitsonequitiesandderivativesmarketsdesignedtoprovideacooling-offperiodduringlarge,intradaymarketdeclines.停市措施、停板制度、断路器

Clear:

Theprocessbywhichaclearinghousemaintainsrecordsofalltradesandsettlesmargin

flowonadailymark-to-marketbasisforitsclearingmembers.结算、清算

Clearinghouse:

Anagencyorseparatecorporationofafuturesexchangethatisresponsibleforsettlingtradingaccounts,collectingandmaintainingmarginmonies,regulatingdeliveryandreportingtradedata.Theclearinghousebecomesthebuyertoeachseller（andthesellertoeachbuyer）andassumesresponsibilityforprotectingbuyersandsellersfromfinanciallossbyassuringperformanceoneachcontract.结算所

ClearingMember:

Amemberofanexchangeclearinghouseresponsibleforthefinancialcommitmentsofitscustomers.Alltradesofanon-clearingmembermustberegisteredandeventuallysettledthroughaclearingmember.结算会员

ClosingPrice:

收盘价

ClosingRange:

Arangeofpricesatwhichfuturestransactionstookplaceduringthecloseofthemarket.收市价幅

Commission:

Afeechargedbyabrokertoacustomerforexecutingatransaction.佣金、手续费

CommissionHouse:

佣金所，见期货经纪商（FuturesCommissionMerchant）

CommodityExchangeAct（CEA）:

Thefederalactthatprovidesforfederalregulationoffuturestrading.商品交易所法

CommodityFuturesTradingCommission（CFTC）:

Thefederalregulatoryagencyestablishedin1974thatadministerstheCommodityExchangeAct.TheCFTCmonitorsthefuturesandoptionsonfuturesmarketsintheUnitedStates.商品期货交易委员会

CommodityPool:

Anenterpriseinwhichfundscontributedbyanumberofpersonsarecombinedforthepurposeoftradingfuturesoroptionscontracts.Theconceptissimilartoamutualfundinthesecuritiesindustry.商品基金，也指基金（pool）

CommodityPoolOperator（CPO）:

Anindividualororganizationwhichoperatesorsolicitsfundsforacommoditypool.ACPOisgenerallyrequiredtoberegisteredwiththeCFTC.商品基金经理人

CommodityTradingAdvisor（CTA）:

Apersonwho,forcompensationorprofit,directlyorindirectlyadvisesothersastotheadvisabilityofbuyingorsellingfuturesorcommodityoptions.Providingadviceincludesexercisingtradingauthorityoveracustomer’saccount.ACTAisgenerallyrequiredtoberegisteredwiththeCFTC.商品期货交易顾问

ConfirmationStatement:

AstatementsentbyaFuturesCommissionMerchanttoacustomerwhenafuturesoroptionspositionhasbeeninitiated.Thestatementshowsthepriceandthenumberofcontractsboughtorsold.SometimescombinedwithaPurchaseandSaleStatement.确认声明

Contango:

Afuturesmarketinwhichpricesinsucceedingdeliverymonthsareprogressivelyhigher.延期交割升水，与延期交割贴水（Backwardation）相对

ContractMarket:

AboardoftradedesignatedbytheCFTCtotradefuturesoroptionscontractsonaparticularcommodity.Commonlyusedtomeananyexchangeonwhichfuturesaretraded.Also

referredtoasanExchange.合约市场，也指交易所（exchange）

ContractMonth:

Themonthinwhichdeliveryistobemadeinaccordancewiththetermsofthefuturescontract.合约月份，也指交割月份（DeliveryMonth）

Convergence:

Thetendencyforpricesofphysicalcommoditiesandfuturestoapproachoneanother,usuallyduringthedeliverymonth.趋于一致

CostofCarry:

持有成本，见持仓费（CarryingCharge）

CoveredOption:

Ashortcallorputoptionpositionwhichiscoveredbythesaleorpurchaseoftheunderlyingfuturescontractorphysicalcommodity.补进期权、有抵期权

Cross-Hedging:

Hedgingacashcommodityusingadifferentbutrelatedfuturescontractwhenthereisnofuturescontractforthecashcommoditybeinghedgedandthecashandfuturesmarketfollowsimilarpricetrends（e.g.,usingsoybeanmealfuturestohedgefishmeal）.交叉套期保值

CustomerSegregatedFunds:

客户独立账户，见独立账户（SegregatedAccount）

D

DayOrder:

Anorderthatifnotexecutedexpiresautomaticallyattheendofthetradingsessiononthedayitwasentered.当日委托、当日订单

DayTrader:

Aspeculatorwhowillnormallyinitiateandoffsetapositionwithinasingletradingsession.当日交易者、做短线者

Default:

Thefailuretoperformonafuturescontractasrequiredbyexchangerules,suchasafailuretomeetamargincallortomakeortakedelivery.违约

DeferredDeliveryMonth:

Thedistantdeliverymonthsinwhichfuturestradingistakingplace,asdistinguishedfromthenearbyfuturesdeliverymonth.远期交割合约

Delivery:

Thetransferofthecashcommodityfromthesellerofafuturescontracttothebuyerofa

futurescontract.Eachfuturesexchangehasspecificproceduresfordeliveryofacashcommodity.Somefuturescontracts,suchasstockindexcontracts,arecashsettled.交割

DeliveryMonth:

交割月份，见合约月份（ContractMonth）

Derivative:

Afinancialinstrument,tradedonoroffanexchange,thepriceofwhichisdirectlydependentuponthevalueofoneormoreunderlyingsecurities,equityindices,debtinstruments,commodities,otherderivativeinstruments,oranyagreeduponpricingindexorarrangement.Derivativesinvolvethetradingofrightsorobligationsbasedontheunderlyingproductbutdonotdirectlytransferproperty.Theyareusedtohedgeriskortoexchangeafloatingrateofreturnforafixedrateofreturn.衍生工具、衍生品

DesignatedSelf-RegulatoryOrganization（DSRO）:

WhenaFuturesCommissionMerchant（FCM）isamemberofmorethanoneSelf-RegulatoryOrganization（SRO）,theSROsmaydecideamongthemselveswhichofthemwillbeprimarilyresponsibleforenforcingminimumfinancialandsalespracticerequirements.TheSROwillbeappointedDSROforthatparticularFCM.NFAistheDSROforallnonexchangememberFCMs.指定自律管理组织，也见自律管理机构（Self-RegulatoryOrganization）

DisclosureDocument:

Thestatementthatmustbeprovidedtoprospectivecustomersthatdescribestradingstrategy,fees,performance,etc.批露文件

Discount:

（1）Theamountapricewouldbereducedtopurchaseacommodityoflessergrade;

（2）sometimesusedtorefertothepricedifferencesbetweenfuturesofdifferentdeliverymonths,asinthephrase“JulyistradingatadiscounttoMay,”indicatingthatthepriceoftheJulyfutureislowerthanthatofMay;

（3）appliedtocashgrainpricesthatarebelowthefuturesprice.折扣、贴水

DiscretionaryAccount:

Anarra