金融词汇文件

1、金融词汇之一Andnent（弃权） Contollin ary givig up rigs toropertyluntariy. bandonmnt optin(清算期权) T optio of tmiatg an investmntearlier thargillyaned. Abndnent ale（清算价值) The value o a proct if the proects assetswe sold externaly ;oralternivl ts opportuntyval iftheaeswere emloyed lewhere n theirm ABC greeme A c

2、onta betwen n employe n bokerag frm oulinig te rhtsofhe firm purchasing aYSE membership for hatempoee B method ofiventocontro（存货操纵的AB方法） eth whichcontrosexeive inventoy itre cloly han ess xpensiveitems. bilty topay(偿债能力） Rfers othe orrwrs abilit toake inteest and princpa paent onebts. Abnormalretrn(

3、超常回报） e component of t rturn tht is not du tosystmcinflunces (market-wideifluences). n other words, abnormal returns reabovethose preiced ythe marke meent aoneAbolue-porit rule（绝对优先权准则) The rule in bakutcyorrganizton tht claims of a se of cam oldrs musbe pid,i full ber t.no. setof cam hdrsmay be pd

4、anhin. Absorbe Ued i ontex fgeral uties ecuite rebsorbed aslongas here arecrepodingoresto byandsllThe markehs eached he absotio int when furhe ssimilionis impssible witou austent ipri.Aclertedepreiation(加速折旧） Meos f dpreatintat writeoftecostf a capial aset fster than undr saight-lie dpreciatio. ccep

5、tac(汇票)Contractal greeent instigated heth rawee o me draft ccets thedratbywriting the or acced thereon. hedrawe assume esnsiilis tecceptoand forpymt t mturity. ccmodate moetar policy（适应性货币政策) Federal esrve Systm policy ors themount o mney ailable banfor nding Accun Paybe（应付账款 ）ountsofmoey owed othe

6、firbecause buingood or sevice on redit fomte firrrent liabiity, teacuts ayble slalled pables Accounsreceivable(应收账款)Amouts of oe wedto a frm bycustomers hhaboght oods r ercs n cit A curent aset, the accnts receivble account s alcalled ceivables. Accoutsrcebletunoer (应收账款周转率) h ratio nt edtale toaver

7、ae acconts rceivabl, wih is a asur ofhow quick uteray ther ills. Acount stemen(账户表）Inte conext of banin, reer to sumary of allalanceIn th ntxt secrities, sumry of ll trsaction ad posiions (long and hrt) etwn a boker/daler an a clentccungearins （会计利润) Earnigs o a im as rprd nits incom sttent. Accing

8、inol(资不抵债) Totaliailtie excee ttal ets. A rm witha negiene wot iinolvn on thebos Acrtion (o a cun) (增值) In prtfolio ccouting, atraih-linacumulaon o cpital gins na disco bnd i ancipaton o rceipt o pa a maturit. crua bass(应收应付制)In h cnext of ccontin, prctice n wich expensesandicome a accute asif thy a

9、re eaneor ncrr,hether or they hav been reied or d. tithesisof cashbsi accounting.Accal bond(一次还本付息债券) bod on wic nterest accrues but is not paid to envestor durng the timeo accal. The amont ofaccued interest is ddedtote remining pinciafhbon and is pad at maturtAcreexpnes（累积费用，应计费用） Aots owed u not y

10、et paid for wages. taxs, interest， andividends he arued eensecuntis a shot-te liabilty. cuedinerest(应计利息) lies aly oconril ecurii.Intrest ththasuaed betwee the mst recnt paymetad teale f a bnd o other fxed-icome security Atth tie of sal， thbuerpy th elle hbnds prc lu accud teest, claed by multilyigt

11、he couon rate ythe ction the coupon peod that has elsd snc t lat payment Accumulte ivided(累积股利) A diied tatha rahd its due date,but i no au.cd-tet （qik） rao(速动比例，酸性测试比例 ) Current assets ess invetories divide by urnt liabiities Itshow afis abilit met current liabities ith itsmost quid （quic) assets.

12、quisition (收购) Whenafirmuy anoh i. Acqisioncst(收购成本) Refers o the pice (iluding the closin cot) to pcse othr opany or rperty.Ithecotext of investments， rfers to rce lus borge comissions, ofa securit, rthe ss chag aplidto lo funds. Across th oard (全盘）Mvemet or tend in th stock market tha ectamostalls

13、toks n ll sectors to mov i sme diecto. Atit ratos(周转率） Ratos h meaur how fectivel the ir iusiitsasss. Aciveolio stategy （积极投资组合策略)A stategy tht us vlable nfrmtion ad foreatin echnique to better perfoancthan buyanhold portfolo. Auals (实货) he hsil comodis underlyng a fuurescotract.Csh omodiy,phsicaass

14、etAditioa pi-incapitl nds receved y a cmpany in a saleof common tock that ae i exces othepa or stted value f te stock Ajusted sent value (APV)(调整净现值） Tesum of the dscund alueof aroects oeating ash fs (sui equit finacin) pus te vleof n tashid befis o inert associated ithth rojetsfnaig miu anotaton co

15、sts djutable-ratepfer tock （ARPs）（浮动股利优先股） nARPs provids he holdewith vidend re t are tied o some inere re，such as sor-term Treasu il hee issuethus povie teopporunity orinreaei diidedpentsAdvrse Selct Prblem(逆选择问题) Refs t a siati n hch slshav elevantrmion th yes lack (or vceve) out some at f product

16、 qalit. After-oursdealgor tading（闭市后交易)eriestradigaferreglar trading hours onanized ecanges. Age sts（代理成本) oss assocated ith monitor anaeentto esur thatit behaves in as cistent wth th fimcoacu agrent wihcreitr andsharehoders.Agncy (theory)（代理理论）Abrch of eonomicsrlating tohbehviorofprincils (sh as wn

17、es)ndheir agn(suh a magers).Agecy bods(机构债券) Bonds issued yom edralagenciendfedeal sonsord agncie .Tese agncisborow fudsanuse th proes to ke lons t pecfc typsoforwers .At (s)(代理人) ndidl （s）thorized byanherpersocaled the prncial, tact in thelattes behf. ginaccout ecevble(应收账款账龄分析）The proce oflassifyi

18、 contsreeivable by hiageutstanding as f given dat. Agessivegroth fund(急速增长型基金)A ind o uualuns hiheesmaimu cital gan a thirinvstnt objtiv Curnt nome s noasgnifcantacor. A r nne grement(全部卖出或取消协议) In allor-none rragemnt, the agreement cll for he uderrir to sel thentiressueuring adefinedpodat a speifie

19、d prceDurig the seling perid ，burs cec are deoited in anescro(第三方托管的）account util teissue is fllysbscribed. If suffint shaesar nosodte issue i cnceed andthe buyers cecks ae retured. Allo one ordr A all-o nneoder aachdto a multpeuit trade(mothan 100 hes)adinsructstheokeo bt te oa number of shares req

20、uestedwe he rderistaken to th foor. If thatis not posil， the order ianceled.Alitr sred(鳄鱼价差) he trm e to eribea srea inthe optns are a neate sch alarg cmmson that he lien is ulkl to make a pfit ven fth markets me as hinvesor anticipaed. llotet(分配) Th nmber ofsurities aigne to each te patipntsianderw

21、riting syndiate.Altenave minimm t (）An erti, separate tcaculain bae on e taxpas reglar taxableincome.inreaed byerti tax befitcolectivly referre toas ax prefece itms.The axaye pays the ager t eguary dtemined axor the AMT Aerican DeosioryReceipts (ADRs)（美国股票存托凭证)An DR is a dmestictaded seurit tat repr

22、eses a c o shres of oregn stocks. Iti lk a sock cetficte andld in the vault aUS bak. With an ADRhinvsor is etitled t ll ivdens nd apital gainsasscated wth the stock. AmercanStokExchange (AMX)(美国股票交易所） Stockexcange with the hird hghsvomeo tding n eU.S. Located 8Trinity Plcein wntown Manhattan. hblkof

23、 train n EX cns o ide opions（coputertcny ndex, nstiuona inde, major market ndx) and shars osma tmedium-sized comaniare prominant. ecetly erged wiaq Aercanoptios(美式期权） autorall tion a exeriseat anytme befr expration, tis termedAmercan opion. man Fanialarkt(FM) (阿曼金融市场)Establied in 1976, the M is the

24、oltock excane inJoran.Amorianchule（分期付款偿还表） A tabehwing he pament helef iterst dpincipal cesary topay off a lanb maturity.Annui（年金）A serisoequl payment rreceipt occuring ora specfe numbr of eos. I a ordin anty,paymentsor recepts occur athe f ach eriod;while n a annity e， payments or rceps occur he e

25、gining ofechperidnoucementdte （宣告日) ate o hich prticlarnews concernig agivn cpany i nnounce h pulc.Annual pecenge at(PR)(简单年利率) Thprodirate times he numb fpriin a year For exame, % qartrly eturn ha anA.P.R. of 20%. Antirs Laws(反托拉斯法)eisionetalished by the derl oerment toreent the ormton of onopolies

26、 an toat td. Arbirge(套利）Fndng two setsthat ae esentalyth aend buyng tehaperd sling the moreepesive btge pricingtheor(PT)(套利定价模型) A heor heete price of n ast deend multple factorsan arbrage efficiencyprevls. Arm-legh Prce （正常交易价格 ) heprice a whih willing buyana wiling unrelated ller wuldfreely agre t

27、o trnsctArrearage(递延款项) Alteoroverdue aymen， hicmay bcumultiAihmtceaern（算术平均酬劳)An averge ofhe subpeiod eturn, cclaed bysumminthesubprid turns an iding by te number of subperio.Asian opion （亚洲期权）pion baed the aveagepice of unelig ssts duringte lif ofthe otio. Asked pric(要价或卖方报价)Inconex ner euites, pc

28、e at h aecurity ommoditys ffd or sale on an exangeor n the TC Market. Assd (rstd） vae(名义价值) noina val assgned toa ar f n-par comon stck t isual far blwthe actualisuinprice Ast allocai ecion(资产分配决策) Te cision regrdin how an nstitutions fnds hould bedstbted aong th jor classes f assts inwhchitmay ives

29、.sset-bae orowig（资产抵押贷款） A loanoragedytagible ssts. Ass urover rte(资产周转率） Thi rate equesale amountdivided by et ，mns how many lsamount canoe olar asset rin in. Assimilaio Teublic absrptionof anw isue oftcs oneh stock has been cometely d by derwrite.smmetrc foatio（信息不对称） Usllycopared tothe firs anagm

30、et ,he joryf stckholders i blicy tade firm ae eltieyunifrmed about e firm earnigs ospet ，becaus anagemet hs mato than ayoe else .The ituaion isreredt assymetricInforion AthMoey Otion(平价期权 ) An pon isatthe oey if he strie pice of the option iseutthe markt pice thunderyinsecity. Auctio arket(拍卖市场) uc

31、marke athe NYSand the AME ealed “Auction marks ”，In these mares all tetadrs semb no plac to buyorsell ind of asset. Auction rate preerred stok(RPS）(拍卖利率优先债券(英国) Fotng-rate preferrestoc， whosedvidend is adjse ery seveeks rogha ucauctio. Authrze hares (核定股本) Nmber of srs authrizd fr ssuac afirms crore

32、 chrte. utcorelion （自相关) Te correlation of vriable wi self oer succssie im ntervals.ometimes calle sral crelio.Auometrdin system（自动交易系统) tote claringhou (CH) electronctans（电子传输自动结算所) Th s essntalla lectronicvsion f thedepstory tansfrchec. Avere acunin rer (平均会计酬劳） The vrage prject anngs atrtaes and

33、depreciation diidedby te vere bookvale of the inteturigs lfeeagecolleti eo, r dys recevbe （应收账款平均回收期) hs ra qtes ccounts ecal divided saleaount.金融词汇之二ack oths （后到期月份) In ecotxt o futundoptons tding, reers to h monh ofcntracts ith exiraton ates farthestay.Ba-to-backlon （背靠背借款） lanin which to companis

34、 isepra untrieborow each ohers crrecy or aspecic tim eiod areat thes currecy at an agreed-upo matrty. Bawardatin（期货负价） aket conditinin which ftres rices are lower in the dstnt liverymnths than n theeret dlier mnth.s mayoccur whte costsof oring thprot i eentudelivery areeffectvely sbtrace frm the ice

35、toay. Bad dt （坏账） A det ta i writte of andeeme uncollectible. lanced fd(平衡型基金) Balanced fus vea portolio ix f onds,preered sck nd comnstock. They generay hv a hee-partintmnt objecti：toconserve h investos iitial prinipal ，to ay curent ncme nd t pomote lng-term gwth oboth thi principl ad income Baance

36、 seet(资产负债表) Asummary of a firm fianiapsition nagen dethat hows totaassets = ttal laits+ ownrs qi.Balnce of pamnt maual(国际收支手册) Balace of pmes(国际收支) A satisical compiltion omatd by seregnnati f all economic transactosbtwen esidns o thanation and eet of al other nationsding a tipulated period of time

37、, suall aclendar yer.Blanceofpayment pesentti(国际收支平衡表) Baloon pmt(气球尾款，分期付款中最后一笔较大金额的付款） Apyme n dbt thati muc larer thnother pamets. The tt balloon m i heentir prinpal atturitandwaon ffect （攀比效应) Bnkcolection floa (银行浮账量）Thetme hat lapss etween whenhek i depoited into ank acouand wn te fuds are ava

38、ila to te depoitor, durig which perdthe bank is olleig paymefrom te pyes bank. Bank Discun Basis( 银行贴现基准) convention use fr qoing bids andofe or Treasuy illsn trsof anualizdyied,based on a 360-dy yar.Bank Inurance Fnd (BIF) (银行保险基金)Auit of theFedal Dposi nsuanc Corpato(FDIC) that provids osisuncf ba

39、ks clung thfts. Bankes aetances (Bs)（银行承兑汇票） Shortterm romissrytade notes r hic a ank （y havig aceped tem)roisesto p eholdthface amontat maturity.Banes(银行汇票) Bakhodng cmpn （银行控股公司） Acompanat wns o as contllirest in two or more banks o other bank oling cmies.Bank for Internatioal Settlemen (BS) （国际清算

40、银行） Ainteationl bank headuartre i Bse， Switzran, whichserves s a orm for moear coperat aneveral Eupancenta bns，the ank f Japa, nd thU. Feeral ReserveSytem Foune n 93to hane the Gemaat of Wod War Ireparatins, inw ntors nd cocs ata on interntional banngactivtynd polgtesules concrnng rnaioal bank rgula

41、tion. Bnkruptcy(破产） nabilt to ay debIn bankrpcy f a publiyond enit, theonrip ofthirms asses i trsfered f hetockhodes to the bonolers.Barer opton(障碍期权） Optionconrats wih trige pointstht, when crosse，automaicalyeneae byng sellingofohr optis. Tese ar exotic ptios.are toEntry(进入壁垒) Bas perd (基期） A parti

42、cular perod oime ed r comparatve prpoe wen mesuring ecooc data. asic rat(差不多汇率)Bass(基差）Th bass is the iferen etween te urent cash price ofaommdit and hefuursieo a partcuar contct othe ommoityi oi(基点) Inthe onmake,he sallest masre e r quoting yilds i a sis poit. Each pretage pint of yiel bondsual 0 a

43、is point. Basis pont alsare used fo ineest raes. An ineres rtof5% s 0basispoints highr haan teret ratof 45. Bis isk（基差风险） Risk reslting fom thencetaity of th dfrencbeweenthe h currnt cashprc of a commodity an thfuts prce f aticula otrcton the comodiy. Basket （一揽子,一篮子） ppiso deivative prducts. oup o

44、stoks that i frme withthe itenio f either being boughtor sol allt once， usal to rform id arbie or ahedgng poa. Bsettions(一揽子期权) Paesthat nolve ehangeo moran two creies agaist bae curreny a expirao. bakt opn bye purhases he right,but o the ligation, to reeive digntcurries in exhange for a ba crrenc,

45、eithe a the revailig fn xchangemaret t or at a preaanged rae of exchane Mtiatonal orpratinswith mltrencyashflw equentlyuse aet otions bcuse it sgneally cheaerto buy an otin on ske of currenciesthan t bu inividualtins n achof ecurrencie tht ma p thebaset.Be marke(熊市) An arkt inwhch piesehib a declini

46、n trend. a polonged peod，usualy faligy 0%orore. Bea sped （熊市价差) Apliest derivatie prducs. Strategyine otins markdsigne o tkedvanage a falln thericef a ecry or comdity， uualy xeutedby uing a cmbinaion o cal and puts n e me security t difrent strike prices ioder to pfit a th secuis refalls Bearbond （不

47、记名债券） Bondstre notrgered on the ookofte ssuer.Such bonds are hldinphyical orm bte owner， wo recve itrstpayents yphysclydetahng oupons frm he ond certficate an deliering tem to te payingaget.el ar(低于票面价值） Lsstan the ominal or fcevau auity. Bnhmark（基准) The peformnceof apredeteried set ofsecuritis， sed

48、 parin pposes. Sh se a e asd onpublihedes or may be tomize t suit iesmt statey.Benhmark interrate（基准利率） Alsocall hebe iteret rate, it iheinieest rae vestors il endfo instinin anon-Treasurysecrit.It is also td to the yild to matuitofeed o he parabl-maturi Treasy ecuri tht w most recetly isued (o-the-

49、un) Best efots oerng(证券代销方式) A ecurityoerininwich te nvesmn bankers agreto use only heir best efors o sellthe ssuers suities Te ivstentankers doot oit topucase ny unsodseurities. Bea(系数) An de f systmatiist masuresthe sitity of a ocks rtuns o changin eturnon thmartportolo.T etaof a orfliois imply ig

50、he vrgof teiniviua tok bets in th ortfoio. i-sked spread(买卖报价价差) Teifferee betwen th ske icendebid price. Bid Prce( 询价或买方报价) This is he uoed bd, or the higes pric n estor is illing to pay to uya ecurity.Pacially speg, is is the vailab rc a whichan ietor can ell sharfstock Bi-to-coverrti (报价成交比例) era

51、tio ofth umbrfbisreceived na Trasuryecurityaucton cmaredtothe nmer of accepteids. Big Bad （大盘) A nicamfor he ew York Sock xcae (NYE). lso kow as The Exng ore than ，000 ommon andprefee tocks are radd. Fndedi 792,th.Y.SE. iste oldest cag n the Uited States, andth lrgest. ilatera acili(双边贷款) il ing(提货单

52、 )A shippig docum indictigthe detilsof hesipmet and livy of goos and ther wnesp.Back Fdy (黑色星期五) A precipoudop n fnancil mare . The oiginal Black riday occurred on Sepembr4, 1869，whn pspecos atteted t corer the gol market. Blk Mnda (黑色星期一) Refet Ocb 19， 1987，we te Dow s Indtrial Avrage ll 0 ints on

53、he hees f harpds the pevio wek O Mndy， October 27, 1997, teDow rpe 554 pont.While the ot dpt neord, trcentg eine was sutanti ss than in 1987 Blind rustArst n whicha fiduciayird patyhas totaldsction o ak investns on behalf of a bnefcary while th beneiiary uninformedabut th ldngsf thetrs. lokouses（大宗证

54、券公司） A boker hcheto fin pntilbuyrandseler fblck tae. cktre(大宗交易） Aarg tadg order, ein o the New Yo Stok Echage as noderthat onsists o 10,000share o agvesokor a total mart value of 200,000 o more. Bue-ch stoks（蓝筹股) Stock of top-uait, wll-known indusiacorpoain with sgnificant econoic impact. Gilt-egds

55、ecurity.(金边证券)Ble skylas（蓝天法)tte laws utn e oferigndal seritis.Bd（债券） long-term debt nrunt isse by a corpraton orgvernent. od covennt （债券契约）A orvision i a ondindentur. A posiive oenat rqur certan ctios， nd a negat covenant limits rta actionsond iscon(债券折价) The ount by whchthe fce lefa bond c its urr

56、nt prie. Bod eqialn yield(债券等值收益率)ndyield calclae n an annual prcentage rate mthd. Dierfro aa ffective yied Bond prmim(债券溢价） Themount b hc th curren prce abond xceeds is face vau.Bond rating(债券评级) ratn asedon the posibility of the default by a bon issue. e ratings range fom AA (hiyunlikely dfault)to

57、 C(in defult). Bond wapping(债券互换) Te salo one bond isue and uchase oaner sue simulanesly. oornne(承销薄记人)e aning undrwiter for a ne su.h ok rner mintains he bok f secuiies sold. Boo vle(账面价值） () An aet: heccountngvlueo anse-theassets ost mis acumulateeprecitio;(2） a frm: totassets minslialitis and pef

58、er stock aslisted on he ale she.ook vale pshre (每股帐面价值） h rat stholdr euitytot avera umberof cmo shae. Book value er hresoldnotbe thught fas idiaor eonic worth,since it relcts acunting valutio （and nt necssaril maketaluation）. Bo（底部)Refers t the ba spport lelo ark priesof ny p. Aso usd in the cnxt o

59、f seurites to ree to heowes market rief scurity durig a pecific tmefmBunce （反弹) check urned by a bank ecseit isnot yable, sual because of insuficientfuds Als used n the ontxt of secutiet refer othe rejecion and esuinrcamaionof a security; astock ricsabrup decie and recvery. Bady bonds(布雷迪债券） od isue

60、d y ergin coutries under adebt reducion plan. Breadt of the areI th cont generauitis,percnage of ckspartiipatng i aprtclar mket move. Tenialnalysts sa thre was sinifcan bredth if two-thirs othe stocs listd o anhn moe in he same drectiondring a tringsessio. ea pric (突破价位） Usd th context of genea equi