金融工程常用术语（中英对照）

金融工程常用术语中英对照AABS Asset-Backed Security资产支持证券ABS CDO由ABS所派生出的份额产品Accrual Swap计息互换Accrued Interest应计利息Actuaries保险精算师Adaptive Mesh Model自适应网格模型Adjusted Present Value调整现值法Adverse Selection逆向选择After-tax Interest Rate税后利润Agency Costs代理费用American Option美式期权Amortization分期偿付Amortization Schedule分期偿付时间表Amortizing Swap 分期偿还互换Analytic Result解析结果APR Annual Percentage Rate年度百分率Annualized Capital Cost按年折算的资本成本Arbitrage套利Arbitrageur套利者Asian Option亚式期权Ask Price卖盘价Asset资产Asset Allocation资产分配Asset-or-Nothing Call Option 资产或空手看涨期权Asset-or-Nothing Put Option 资产或空手看跌期权Asset Swap资产互换As-You-Like-It Option任选期权At-the-Money Option平值期权Average Price Call Option平均价格看涨期权Average Price Put Option平均价格看跌期权Average Strike Option平均执行价格期权BBackdating倒填日期Back Testing回顾测试Backwards Induction倒推归纳Barrier Option障碍期权Base Correlation基础相关系数Basel Committee巴塞尔委员会Basis基差Basis Point基点Basis Risk基差风险Basis Swap基差互换Basket Credit Default Swap篮筐式信用违约互换Basket Option篮筐式期权Bear Spread熊市差价Bermudan Option百慕大式期权Before-tax Interest Rate税前利率Beta贝塔Bid-Ask Spread买入卖出差价Bid Price买入价Bilateral Clearing双边结算Binary Credit Default Swap两点式信用违约互换Binary Option两值期权Binomial Model二项式模型Binomial Option Pricing Model二项期权定价模型Binomial Tree二叉树Bivariate Normal Distribution二元正态分布Blacks Approximation布莱克近似Blacks Model布莱克模型Black-Scholes-Merton Model 布莱克-斯科尔斯-莫顿 模型Bond Option债券期权Bond Yield债券收益率Book Value账面价值Bootstrap Method票息剥离方法Boston Option波士顿期权BOT Build-Operate-Transfer建设-经营-转让Box Spread合式差价Break-even point盈亏平衡点Break Forward断点远期Brownian Motion布朗运动Bull Spread牛市差价Butterfly Spread蝶式差价CCalendar Spread日历差价Calibration校正Callable Bond可赎回债券Call Option看涨期权Cancelable Swap可取消互换Cap上限Cap Rate上限利率CAPM Capital Asset Pricing Model资本资产定价模型Caplet上限单元Capital gain资本收藏Capital less资本损失Capital Market资本市场Capital Market Line资本市场线Caps赔付限额Case-Shiller Index凯斯-席勒指数Cash budget现金预算Cash cycle time现金周转时间Cash Dividend现金股利Cash Flow Mapping现金流映射Cash-or-Nothing Call Option现金或空手看涨期权Cash-or-Nothing Put Option现金或空手看跌期权Cash Settlement现金交割 或 现金清算CCP Central Clearing Party中央结算对手CDD Cooling Degree Days降温天数CDO Collateralized Debt Obligation债务抵押债券CDS Credit Default Swap信用违约互换CEBO Credit Event Binary Option信用事件两点式期权Central Clearing中心结算Central Clearing Party中央结算对手Central Counterparty中央交易对手CEV Model Constant Elasticity of Variance Model常方差弹性模型Cheapest-to-Deliver Bond最便宜可交割债券Cholesky Decomposition乔里斯基分解Chooser Option选择人期权Class of Options期权分类Clean Price of Bond债券除息价格Clearing House结算中心Clearing Margin结算保证金Cliquet Option棘轮期权CMO Collateralized Mortgage Obligation见房产抵押债券CMS Constant Maturity Swap固定期限国债互换Collar双限Collateral抵押品Collateralization抵押品策略Collateralized Debt Obligation债务抵押债券Collateralized Mortgage Obligation房产抵押债券Combination组合Commercial Banks商业银行Commercial Loan Rate商业贷款利率Commodity Futures Trading Commission商品期货交易管理委员会Commodity Swap商品互换Compound Interest复利Compounding复利计息Compounding Frequency复利利率Compound Correlation复合相关系数Compound Option复合期权Confidence interval置信区间Continuous Probability Distribution连续概率分布Confirmation交易确认书Consumption Asset消费资产Contango期货溢价Continuous Compounding连续复利Control Variate Technique控制变量技术Convenience Yield便利收益率Conversion Factor转换因子Convertible Bond可转换债券Convexity曲率Convexity Adjustment曲率调整Cornish-Fisher Expansion科尼什-费雪展开Copayments赔付比例Corporation公司Correlation相关性Cost of Capital资本成本Cost of Carry持有成本Controller审计官Counterparty交易对手Coupon券息Coupon bond付息债券Covariance协方差Covarance Matrix协方差矩阵Covered Call备保看涨期权Crash phobia暴跌恐惧症Credit Contagion信用蔓延Credit Default Swap信用违约互换Credit Derivative信用衍生产品Credit Event信用事件Credit Event Binary Option信用事件两点式期权Credit Index信用指数Credit Rating信用等级Credit Ratings Transition Matrix信用评级转移矩阵Credit Risk信用风险Credit Spread Option信用差价期权CSA Credit Support Annex信用支持附约CVA Credit Value Adjustment信用价值调节量Credit Value at Risk信用风险价值度Cross Hedging交叉对冲Currency Swap货币互换Current yield本期收益率DDay Count计天方式Day Trade即日交易DCF Discounted Cash flow Model现金流折现模型DDM Dividend Discount Model股利贴现模型DVA Debt Value Adjustment债务价值调节量Decision Tree决策树Deductible免赔额Default Risk违约风险Defined-benefit Pension Plan规定受益型养老金计划Defined-contribution Pension Plan规定缴费型养老金计划Delivery Price交割价格Delta Hedging Delta对冲Delta-Neutral Portfolio Delta中性交易组合Derivative衍生产品Deterministic Variable确定性变量Diagonal Spread对角差价Differential Swap交叉货币度量互换Diffusion Process扩散过程Dirty Price of Bond带息价格Discount Bond折扣债券Discount Instrument折扣产品Discounted Cash Flow Analysis贴现现金流分析Discounted Dividend Model股利贴现模型Diversifiable Risk可分散风险Diversification分散化Diversification Principle 分散化原则Diversifying分散投资Discount Rate贴现率Dividend股息Dividend Yield股息收益率Dodd-Frank Act多德-弗兰克法案Dollar Duration绝对额久期DOOM Option DOOM期权Down-and-In Option下降-敲入 期权Down-and-Out Option下降-敲出 期权Downgrade Trigger降级触发Drift Rate漂移变化率Duration久期Duration Matching久期匹配Dynamic Hedging动态对冲EEAR/ EFF Effective Annual Rate实际年利率Early Exercise提前行使EBIT Earnings Before Interest and Tax息税前利润Effective Federal Funds Rate有效联邦基金利率Efficient Portfolio有效投资组合Efficient Portfolio Frontier有效投资组合边界Electronic Trading电子交易Embedded Option内含期权EMH Efficient Markets Hypothesis有效市场假说Empirical Research实证研究Employee Stock Option雇员股票期权Equilibrium Model均衡模型Equity Swap股权互换Equity Tranche股权份额Equivalent Annual Interest Rate等价年利率Eurocurrency欧洲货币Eurodollar欧洲美元Eurodollar Futures Contract欧洲美元期货合约Eurodollar Interest Rate欧洲美元利率Euro LIBOR欧元同业拆借利率European Option欧式期权Exchange Option互换期权Exchange Rate汇率Exclusions免赔条款Ex-dividend Date 除息日Exercise Limit 行使限额Exercise Multiple行使倍数Exercise Price执行价格Exotic Option特种期权Expectations Theory预期理论Expected Shortfall预期亏损Expected Rate of Return预期回报率Expected Value of a Variable变量的期望值Expiration Date到期日Explicit Finite Difference Method显式有限差分方法Exponentially Weighted Moving Average Model指数加权移动平均模型Exponential Weighting指数加权Exposure风险敞口Extendable Bond可展期债券Extendable Swap可延期互换External Financing外部投资FFace Value面值Factor因子Factor Analysis因子分析Federal Funds Rate联邦基金利率FEI Financial Executives Institute财务执行官组织Finance金融学Financial Futures金融期货Financial Guarantees财务担保Financial Intermediary金融媒介Financial System金融系统Finite Difference Method有限差分法Fixed-Income Instrument固定收益证券Flat Volatility单一波动率Flex Option灵活期权Flexi Cap Flexi上限Floor下限Floor-Ceiling Agreement下限上限协议Floor let下限单元Floor Rate下限利率Flow of funds资金流Foreign Currency Option外汇期权Forward Contract远期合约Forward Exchange Rate远期汇率Forward Interest Rate远期利率Forward Price远期价格Forward Rate远期率FRA Forward Rate Agreement远期利率合约Forward Risk-Neutral World远期风险中性世界Forward Start Option远期开始期权Forward Swap远期互换Fundamental Value基本价值Futures Commission Merchants期货佣金经纪人Futures Contract期货合约Futures Option期货期权Futures-Style Option期货式期权FV FinalValue 终值GGrowth annuity增长年金GAP Management制品管理Gap Option缺口期权Gaussian Copula Model高斯Copula模型Gaussian Quadrature 高斯求积公式Generalize Wiener Process 广义维纳过程Geometric Average几何平均Geometric Brownian Motion几何布朗运动Girsanovs Theorem哥萨诺夫定理Guaranty Fund担保基金HHaircut折扣Hazard Rate风险率Hedge 对冲Hedge Funds对冲基金Hedger对冲者Hedge Ratio对冲比率Hedgers套期保值者Historical Simulation历史模拟Historical Volatility历史波动率Holiday Calendar假期日历Human Capital人力资本IImmediate Annuity即时年金Implicit Finite Difference Method 隐式有限差分Implied Correlation隐含相关系数Implied Distribution隐含分布Implied Dividend隐含股利Implied Tree隐含树形Implied Volatility隐含波动率Inception Profit起始盈利Index Amortizing Swap指数递减互换Index Arbitrage指数套利Index Futures指数期货Index-linked Bonds指数化债券Index Option指数期权Index Principal Swap指数本金互换Initial Margin初始保证金Instantaneous Forward Rate瞬时远期利率Insuring保险Intangible Assets无形资产Interest-rate Arbitrage利率套利Interest Rate Cap利率上限Interest Rate Collar利率双限Interest Rate Derivative利率衍生产品Interest Rate Floor 利率下限Interest Rate Swap利率互换Internal Financing内部融资International Swap and Derivatives Association国际互换和衍生产品协会In-the-Money Option实值期权Intrinsic Value内涵价值Inverted Market反向市场Investment Asset投资资产Investment Banks投资银行ISDA International Swap and Derivatives Association国际互换和衍生产品协会IRR Internal Rate of Return内部收益率JJump-Diffusion Model跳跃扩散模型Jump Process跳跃过程LLaw of One Price一价原则Liability负债LIBID London Inter Bank Bid Rate伦敦同业借款利率LIBOR London Inter Bank Offered Rate伦敦同业拆出利率LIBOR Curve LIBOR曲线LIBOR-in-Arrears Swap LIBOR后置互换Life Annuity人寿年金Limited Liability有限责任Limit Move涨跌停版变动Limit Order限价指令Liquidity流动性Liquidity Preference Theory流动性偏好理论Liquidity Premium流动性溢价Liquidity Risk流动性风险Locals自营经纪人Lognormal Distribution对数正态分布Long Hedge多头对冲Long Position多头Look back option回望期权Low Discrepancy Sequence低偏差序列MMaintenance Margin维持保证金Margin保证金Margin Call保证金催付Market Capitalization Rate市场资本化利率MSU Market-Leveraged Stock Unit市场股票凭据Market Maker做市商Market Model市场模型Market Portfolio市场投资组合Market Price of Risk风险市场价格Market Segmentation Theory市场分隔理论Market-weighted Stock Indexes市场加权股票指数Marking to Market按市场定价Markov Process马尔科夫过程Martingale鞅Maturity期限Maturity Date到期日Maximum Likelihood Method极大似然方法Mean Reversion均值回归Measure测度Merger合并Mezzanine Tranche中层份额Minimum Variance最小方差组合Modified Duration修正久期Money Market货币市场Money Market Account货币市场帐户Monte Carlo Simulation蒙特卡罗模拟Moral Hazard道德风险Mortgage-Backed Security房产抵押贷款证券Mutual Fund共同基金NNaked Position裸露期权Netting净额结算Net Present Value净现值Net Worth净资产No-Arbitrage Assumption无套利假设No-Arbitrage Interest Rate Model无套利假设Nominal Future Value名义终值Nominal Interest Rate名义利率Nominal Prices名义价格Nondiversifiable Risk不可分割风险Nonstationary Model 非平稳模型Non Systemic Risk非系统风险Normal Backwardation正常现货溢价NPV Net Present Value净现值Normal Distribution正态分布Normal Market正常市场Notional Principal面值（本金）Numeraire计价单位Numerical Procedure数值方法OOCC Option Clearing Corporation期权结算中心Offer Price卖出价格Open Interest未平仓合约Open Outcry公开喊价Opportunity Cost of Capital资金的机会成本Optimal Combination of risky assets风险资产的最优组合Option期权Option-Adjusted Spread期权调整差价Option Class期权种类Ordinary Annuity普通年金Out-of-the-Money Option虚值期权Overnight Indexed Swap隔夜指数互换Over-the-Counter Market场外交易市场PPackage组合期权Par bonds等价债券Par Value面值Par Yield面值收益Parallel Shift 平行移动Parisian Option巴黎期权Partnership合伙制Path-Dependent Option路径依赖型期权Payoff收益Pay off Diagram收益图Percent-of-sales method销售收入百分比法Permanent Income持久收入Perpetuity永续年金Perpetual Derivatives永续衍生品Portfolio Immunization组合免疫Portfolio Insurance证券组合保险Portfolio selection投资组合选择Portfolio theory投资组合理论Position Limit头寸限额Premium期权付费Premium Bond溢价债券Present Value现值Principal-agent Problem委托人-代理人问题Prepayment Function提前偿付函数Principal本金Principal Components Analysis主因子分析Principal Protected Notes 保本型证券Probability Distributions概念分布Program Trading程序交易Protective Put保护看跌期权Pull-to-Par收敛于面值现象Purchasing-power Parity 购买力评价Pure Discount Bonds纯贴现债券Put-Call Parity看跌-看涨期权平价关系式Put Option看跌期权Puttable Bond 可提前退还债券Puttable Swap可赎回互换President 总裁PMT Payment（Returns the periodic payment for an annuity）年金PPP Public-Private Partnership政府和社会资本合作PV Present Value现值QQuansi-Random Sequences伪随机序列RRate of Return on capital资本收益率Rainbow Option彩虹期权Range-Forward Contract远期范围合约Ratchet Cap执行价格调整上限Real Future Value实际终值Real Interest Rate实际利率Real Option实物期权Real Prices实际价格Rebalancing再平衡Recovery Rate回收率Reference Entity参考实体Reinvestment Rate再投资利率Residual Claim剩余索取权Repo再回购Repo Rate再回购利率Reset Date 重置日（定息日）RSU Restricted Stock Unit受限股票单位Reversion Level回归水平Risk Aversion风险厌恶Risk-adjusted discount rate风险调整贴现率Risk Exposure风险暴露Rights Issue优先权证Risk-Free Rate无风险利率Risk Management风险管理Risk Management Process风险管理过程Risk-Neutral Valuation风险中性定价Risk-Neutral World风险中性世界Roll Back倒推ROS Ratio of income as percentage of sales销售利润率ROA Return On Assets资产收益率ROE Rate of Return on Common Stockholders Equity净资产收益率SScalper投机者Scenario Analysis情形分析Securitization证券化Security Market Line证券市场线Sensitivity Analysis敏感性分析Self-financing Investment Strategy自筹资金投资策略Settlement Price结算价格Share Repurchase股票回购Short Hedge空头头寸对冲Short Position空头头寸Short Rate短期利率Short Selling卖空交易Short-Term Risk-Free Rate短期无风险利率Shout Option喊价期权Simple Interest单利Sole Proprietorship独资企业Specialist专家Speculator投机者Spot futures price parity relation现货期货价格平价关系Spot Interest Rate即期利率Spot Price即期价格Spot Volatility差价交易Spread价（利）差Stack and Roll滚动对冲Standard Deviation标准方差Static Hedging静态对冲Static Option Replication静态期权复制Step-up Swap本金逐渐增加互换Sticky Cap黏性上限Stochastic Process随机过程Stochastic Variable随机变量Stock Dividend股票式股息Stock Index股指Stock Index Futures股指期货Stock Index Option股指期权Stock Option股票期权Stock Split股票分股Storage Costs贮存费用Straddle跨式期权Strangle异价跨式期权Strap带式组合Strategy策略Strike Price执行价格（敲定价格）Strip序列组合Strip Bonds剥离债券Subprime Mortgage次级住房抵押贷款Sustainable Growth Rate可持续增长率Swap互换协议Swap Contract互换合约Swap Execution Facility互换执行场所Swap Rate互换利率Swaption互换期权Swing Option摆动期权Synergy协同效应Synthetic Option合成期权