glossary for Financial markets and institutions.doc

Financial markets and institutionsChapter 1:Role of finacial markets and institutionsSurplus units:盈余方Deficit units:赤字方Money markets:貨幣市場Capital makets:資本市場Primary markets:一級市場Secondary markets:二級市場Liquidity:流動性O(shè)rganized exchange:交易所市場Financial market:金融市場Over-the-counter(OTC) market:場外交易市場Money market securities:貨幣市場工具Capital market securities:資本市場工具Derivative securities:衍生工具Privatization:私有化Foreign exchange market:外匯市場Perfect market:有效市場Imperfect market:無效市場Money market mutual funds:貨幣市場共同基金B(yǎng)roker:經(jīng)紀(jì)人Spread:差價Bid quotes:買入報價Underwrite:承銷Dealers:自營商Coupon payments:息票支付Commercial paper:商業(yè)本票Bankers acceptances:銀行承兌匯票Municipal bonds:市政債券Hedging:對沖，套期保值Discount:折扣，貼現(xiàn)，貼現(xiàn)率Inventory:存貨Markup:漲價、利潤、成本、毛利Chapter 2: Determinnation of interest ratesLoanable funds theory:可貸資金理論Interest-inelastic:缺乏利率彈性Fisher effect:費(fèi)雪效應(yīng)Real interest rate:實(shí)際利率Growding-out effect:擠出效應(yīng)Chapter 3: Structure of interst ratesInvestment-grade bonds:投資級債券Term structure of interest rates:利率的期限結(jié)構(gòu)Call feature:贖回特性Convertible clause:可轉(zhuǎn)換條款Pure expectations theory:純粹預(yù)期理論Liquidity premium theory:流動性溢價理論Segmented market theory:分割市場理論P(yáng)referred habitat theory:偏好歸宿理論Collateral provision:擔(dān)保條款T-bill: Treasury billBasis point: 基點(diǎn), 上升30個基點(diǎn)指的是上升0.3%。Pivot:沿著樞軸旋轉(zhuǎn)Countercolckwise:逆時針方向Rationale:基本原理Par:標(biāo)準(zhǔn)，票面價值，平均數(shù)量Chapter 4: Monetary policy toolsFederal reserve district bank:聯(lián)邦儲備銀行Board of governors:聯(lián)邦儲備委員會Federal open market committee(FOMC):聯(lián)邦公開市場委員會Repurchase agreement:回購協(xié)議Dynamic open market operation:主動型公開市場操作Defensive open market operation:防御型公開市場操作Reserve requirement ratio:法定存款準(zhǔn)本金比率M1、M2、M3：為不同層次的貨幣供應(yīng)量Discount rate:再貼現(xiàn)率Trading desk(open market desk):交易柜臺（公開市場柜臺）Policy derective:政策指示Open market operations:公開市場操作Money market deposit account:貨幣市場存款賬戶Depository institutions deregulation and monetary control act(DIDMCA):存款機(jī)構(gòu)放松管制與貨幣控制法案Chaper 5: Monetary theory and policyKeynesian theory:凱恩斯理論Demand-pull inflation:需求拉動型通貨膨脹Monetarists:貨幣主義者M(jìn)odern quantity theory of money:現(xiàn)代貨幣數(shù)量理論Theory of rational expectations:理性預(yù)期理論P(yáng)hillips curve:菲利普斯曲線Recognition lag:認(rèn)知時滯Implementation lag:執(zhí)行時滯Monetizing the debt:債務(wù)貨幣化Global crowding out:全球擠出效應(yīng)Chapter 6: Money marketsCommercial paper:商業(yè)票據(jù)Junk commercial paper:垃圾商業(yè)票據(jù)Negotiable certificates of deposit(NCDS):大額可轉(zhuǎn)讓定期存單Reverse repo:逆回購Federal funds rate:聯(lián)邦基金利率Bankers acceptance:銀行承兌匯票Letter of credit:(L/C)：信用證Eurodollar certificates of deposit:歐洲美元存單Eurodollar market:歐洲美元市場Eurodollar floating-rate CDS(ENFRCDS):歐洲美元浮動利率存單Eurocurrency market:歐洲貨幣市場Eurobanks:歐洲銀行Eurocredit market:歐洲信貸市場Euronotes:歐洲本票Euro-commercial paper(euro-CP): 歐洲商業(yè)票據(jù)Effective yield:有效收益率Chapter 7: Bond marketsBearer bonds:不記名債券Registered bonds:記名債券Yield to maturity:到期收益率Stripped securities:剝離債券（分割債券）Government national mortgage association(ginnie mea):政府國民抵押貸款協(xié)會Federal national mortgage association(fannie mae):聯(lián)邦國民抵押貸款協(xié)會General obligation bonds:一般責(zé)任債券Revenue bonds:收益?zhèn)疌orporate bonds:公司債券Indenture:契約Trustee:受托人Sinking-fund provision:償債基金條款Call provision:贖回條款Call premium:贖回溢價First mortgage bond:優(yōu)先抵押債券Chattel mortgage bond:動產(chǎn)抵押債券Debentured:信用債券Subordinated debentures:次級信用債券Low-coupon and zero-coupon bonds:低息和零息債券Variable-rate bonds:浮動利率債券Market order:市價委托Limit order:限價委托Junk bonds:垃圾債券Contagion effects:傳染效應(yīng)Global junk bonds:全球垃圾債券Chapter 8: Bond valuation and riskPresent value interest factors:貼現(xiàn)因子Annuity:年金Chapter 9: Mortgage marketsFixed-rate mortgage:固定利率抵押貸款A(yù)djustable-rate mortgage(ARM):可調(diào)整利率抵押貸款A(yù)mortization schedule:分期付款償還表Graduated-payment mortgage:漸進(jìn)償付抵押貸款Growing-equity mortgage:權(quán)益增長抵押貸款Shared-appreciation mortgage:分享增值抵押貸款Securitization:貸款證券化Prepayment risk:提前償付風(fēng)險Mortgage pass-through securities:抵押支持轉(zhuǎn)手證券Participation certificates(PCs):參與憑證Collateralized mortgage obligation(CMOs):抵押擔(dān)保債務(wù)證券Chapter 10: Stock offerings and investor monitoringNational associationofsecurities dealers automatic quotations(nasdaq):全美證券交易商協(xié)會自動報價系統(tǒng)Antitakeover amendments:反收購修正案Poison pills:毒丸Golden parachute:金色降落傘Chapter 12: Market microstructure and strategiesMarket microstructure:市場微觀結(jié)構(gòu)Margin requirement:保證金要求Margin account:保證金賬戶Maintenance margin:維持保證金Initial margin:初始保證金Margin call:追加保證金Short selling:賣空Exchange-traded funds(ETFs):交易所交易基金Chapter 13: Financial futures marketsFinancial future contract:金融期貨合約Interest rate future:利率期貨Stock index futures:股票指數(shù)期貨Commission brokers:場內(nèi)經(jīng)紀(jì)人Floor traders (locals):場內(nèi)交易商Speculators:投機(jī)者Hedgers:套期保值者Day traders:即期交易者Position traders:遠(yuǎn)期交易者Short hedge:空頭套期保值Basis:基差Cross-hedging:交叉套期保值Long hedge:多頭套期保值Net exposure:凈暴露Municipal bond index(MBI)futures:市政債券指數(shù)期貨Bond buyer index:債券買入者指數(shù)Dynamic asset allocation:動態(tài)資產(chǎn)配置Index arbitrage:指數(shù)套利Arbitrageurs:套利者Circuit breakers:斷路器Market risk:市場風(fēng)險Basis risk:基差風(fēng)險Liqudity risk:流動性風(fēng)險Ctedit risk:信用風(fēng)險Operational risk:操作風(fēng)險Systemic risk;系統(tǒng)風(fēng)險Currency futures contract:貨幣期貨合約Chapter 14: Options marketsCall option:看漲期權(quán)Exercise price(strike price):執(zhí)行價格Writer:期權(quán)合約的賣方In the money:實(shí)值A(chǔ)t the money:兩平Out of the money:虛值Put option:看跌期權(quán)Covered call:有保護(hù)看漲期權(quán)Stock index option:股票指數(shù)期權(quán)Long-term equity anticipations(LEAPs):長期期權(quán)Currency call option:貨幣看漲期權(quán)Currency put option:貨幣看跌期權(quán)Chapter 15: Interest rate derivative marketsInterest rate swap:利率互換Plain anilla swap:普通互換（固定-浮動利率互換）Forward swap:遠(yuǎn)期互換Swap option(swaptions):互換期權(quán)Callable swap:可贖回互換Putable swap:可退賣互換Zero-coupon-for-floating swap:零息互換Rate-capped swap:利率上限互換Equity swap:股權(quán)互換Sovereign risk:政治風(fēng)險Interest rate cap:利率上限Inerest rate floor:利率下限Interest rate collar:利率雙限Currency swap:貨幣互換Chapter 16: Foreign exchange derivative marketsForeign exchange derivatives:外匯衍生產(chǎn)品Spot exchange rate:即期匯率Forward rates:遠(yuǎn)期匯率Bretton woods era:布雷頓森林體系Smithsonian agreement:史密森協(xié)定Dirty float:骯臟浮動Freely floating system:自由浮動