金融英语阅读：有价证劵部分

会计考友

　　1. Vigorous Development of the Securities Sector
　　The financial markets can be classified in the following six
, n5 N( O- q% N" b( B　　types:
+ a: M1 q( N5 P3 ~. @( d, D　　l Capital markets, which consist of:
) {; |& {+ R$ Q- j+ [　　capital market
0 [/ c& A: }) t5 ^　　亦称“长期金融市场”、“长期资金市场”。期限在一年以上各种资金借贷和证券交易的场所。因为在长期金融活动中，涉及资金期限长、风险大，具有长期较稳定收入，类似于资本投入，故称之为资本市场。
　　Stock market, which provides financing through the issuance of
4 E. D: F7 c3 p7 r: w7 c4 O' [6 P　　shares, and enable the subsequent trading thereof. Shares are
　　certificates or book entries representing ownership in a
　　corporation or similar entity.
　　(1)股票市场是已经发行的股票按时价进行转让、买卖和流通的市场，包括交易市场和流通市场两部分。
　　(2)thereof ad.在其中, 关于...
$ m, B# {, b, ]- Z4 b8 D　　(3)（certificates or book entries）representing ownership in a
5 G6 N0 b! g; n/ o　　corporation or similar
　　entity由动名词representing引导的动名词短语，做后置定语，修饰前面的certificates or book
　　entries。
! ^( i$ L! ~% Q3 \' q　　(4)certificate n.A document certifying ownership.凭证：证明所有权的文件
8 l8 [) V: p$ i/ y　　Bond market, which provides financing through the issuance of
/ |8 ?( k8 T7 c+ D* F( u　　bonds, and enable the subsequent trading thereof. Bonds are
　　written evidences of debts.
" H6 D, Q! i9 T3 g' ]* y　　(1)债券市场是发行和买卖债券的场所。
( M9 I0 f- D7 l2 u6 {　　(2)evidence n.A thing or things helpful in forming a
; s  h' x. B( V6 X$ x　　conclusion or judgment:证明，证据：有助于得出结论或做出判断的东西或事物
' |/ G' t, N) y5 ?( W　　l Commodity market, which facilitates the trading of
7 F" ?" n- H' `  w, d# Z　　commodities.
/ w  d2 e+ \5 `4 m　　(1)commodity market商品市场
4 c& n) w+ \: }$ ?2 y8 k- o　　l Money market, which provides short term debt
4 ]5 ~. T# `+ J3 e  q$ T　　financing and investment.
7 M; p8 z4 X  _" a$ k; @　　(1)货币市场是短期资金市场，是指融资期限在一年以下的金融市场。货币市场就其结构而言，包括同业拆借市场、票据贴现市场、短期政府债券市场、证券回购市场等。
　　(1)debt financing债务融资
8 w- F/ U7 {- y　　l Derivatives market, which provides instruments for
　　the management of financial risk.
  N2 d6 q  S  ]& A- [　　(1)derivatives market衍生品市场
　　Futures market, where standardized futures contracts and
" n% Y9 F! r+ D0 f4 ?. K　　options contracts on a whole range of underlying products are
+ D" F1 P. I% e: s+ W　　traded.
　　(1)futures market期货市场
　　(2)futures contracts期货合约
　　(3)options contracts期权合约
　　Options are the right to buy or sell a financial instrument at
　　an agreed price at some future time.
　　(1)option n.A right to buy or sell specific securities or
) D& |" m  e7 g　　commodities at a stated price within a specified
8 z, E4 p+ w. e( L7 D. l0 h　　time.期权：在规定时间内的以固定价格买卖特定的债券或商品的权力
　　l Insurance market, which facilitates the
　　redistribution of various risks.
　　insurance market保险市场
5 e* b' W8 L+ ?! ^0 M# x　　l Foreign exchange market, which facilitates the
　　trading of foreign exchange.
9 s2 a; ~9 S; u) }4 J1 o　　（1）Forex
! G( ]- v4 D& p! s' r& E　　market外汇交易市场——银行同业市场，建立于1971年，当时国际贸易从固定汇率转向浮动汇率。从此，一种货币相对于另一种货币的汇率通常以显式的方式来表示——双方都同意的交换关系。
　　The capital market consists of primary and secondary markets.
　　The primary market is that part of the capital market that
6 O/ O7 {# R0 ~　　deals with the issuance of new securities. The secondary
* P; a/ w. R  p3 ]2 ]" B　　market is the financial market for trading of securities that
/ ]8 S8 v' l& j; K　　have already been issued in an initial private or public
* j( M0 z8 U* m6 J9 g+ m6 E　　offering.
　　(1)资本市场可以分一级市场和二级市场
　　(2)
* n" v1 x6 }8 E9 V) J! b　　一级市场又称为初级市场或是发行市场，顾名思义就是企业首次发行股票以进行筹资的市场，为股市交易活动的发源处。公司在发售债券和股票时有两种类型：公开发行和私下募集。
! h$ h: B: g# @　　(3)二级市场——指证券交易市场。是证券经过发行市场后,投资者不断对证券进行买卖交易,所产生的证券流通市场。二级市场又称为流通市场，为投资人交易已发行证券的场所。不同于一级市场的“一次性发行”，在二级市场上流通的股票可以被反覆地买进与卖出，一般市场常在说的“股市”即为二级市场。