1、精選優質文檔-傾情為你奉上Financial MarketsFinancial market金融市場: A financial market is a market in which people and entities can trade financial securities, commodities and other fungible items of value at low transaction costs and at prices that reflects supply and demand.International financial market國際金融市場: A

2、 financial market that involves participants all over the world.(查不到自己編的，請慎重考慮)Direct financing直接融資: An investor purchases the securities issued by ultimate borrowers (i.e. without intermediaries).Indirect financing間接融資: Indirect financing is where borrowers borrow funds from the financial market th

3、rough indirect means, such as through a financial intermediary.Money market貨幣市場: Money market is a component of financial market for assets involved in short-term borrowing, lending, buying and selling with ORIGINAL maturities of one year or less.Capital market資本市場: Capital market provides for the b

4、uying and selling of long-term(over 1 year) debts or equity-backed securities.Foreign exchange market (or currency market)外匯市場: Foreign exchange market deals with the exchanges of different means of payment. Primary market一級市場: A primary market is a market in which new issues of a security (like a b

5、ond or a stock), are sold to initial buyers by the corporation or government agency borrowing the funds.Secondary market二級市場: A secondary market is where is where the sale of previously issued securities takes place.Exchange market交易所市場: It is a highly organized market where tradable securities, com

6、modities, foreign exchanges, futures and option contracts are sold and bought. OTC market柜臺市場: over-the-counter market. A decentralized market of securities not listed on an exchange where market participants trade over the telephone, facsimile or electronic network instead of a physical trading flo

7、or.Technical analysis技術分析: It is the art of deducing probable future trend from historical records of stock trading. (the study of the stock market itself rather than external factors)Fundamental analysis基本面分析或基礎分析: It examines all relevant factors affecting the stock price in order to determine an

8、intrinsic value for that stock.The top-down approach or Economy-Industry-Company(EIC) model自上而下法:1)select a country which could offer the investors better returns from other economies;2)select promising industries and companies in this country.The bottom-up or stock picking approach自下而上法: It is to f

9、ind undervalued stocks regardless of the market and industry factors. Capital MarketBond債券: Bonds are securities that represent a debt owed by the issuer to the investor. They obligate the issuer to pay a specified amount at a given date.Government notes and bonds(Treasury bonds)國庫券: They are issued

10、 to finance the national debt. Difference: notes have a original maturity of 1year to 10 years while bonds have a original maturity of 10-30 years. Note that they are free of default risk.Corporate bonds公司債券: Large corporations issue bonds in order to borrow funds for long periods of time. The bond

11、indenture is a contract that states the lenders rights and privileges and the the borrowers obligations.Stock股票: Shares of stock in the firm represent ownership.Outstanding stock流通股: The shares of a corporations stock that have been issued and are in the hands of the public.Mortgage loan抵押貸款: A mort

12、gage loan is a loan secured by real property. Foreign Exchange MarketExchange rate匯率: The ratio of two different currencies.Bills of exchange票據: They are financial documents that require the individual or business that is addressed in the document to pay a specified amount of money on a date that is

13、 cited in the document.Demand draft即期匯票: It is a check created by a merchant with a buyers checking account number on it, but without the buyers original signature.Bankers draft銀行匯票: It is a check where the funds are taken directly from financial institutions rather than the individual drawers accou

14、nt.Foreign bond外國債務: A bond issued in a domestic market by a foreign entity, in the domestic markets currency.Dividend check股利支票: A share of profits in the form of checks received by a stockholder. （查不到自己編的，請慎重考慮）Pension check養老金支票: A sum of money in the form of checks paid regularly as a retirement

15、 benefit or by way of patronage.(查不到自己編的，請慎重考慮。另外，pension沒有年金的意思，年金是annuity)Travelers check旅行支票: It is a preprinted, fixed-amount check designed to allow the person signing it to make an unconditional payment to someone else as a result of having paid the issuer for that privilege. Direct quotation

16、method直接報價法: The rates are quoted in terms of variable number of home currency per fixed foreign currency unit.Indirect quotation method間接報價法: The rates are quoted in terms of variable number of foreign currency per fixed home currency unit.Convertible currency自由兌換貨幣: The holder of a convertible cur

17、rency can change it freely into another currency.Spot rate即期匯率: The price that is quoted for immediate settlement on a commodity, a security or a currency . Forward rate遠期匯率: A rate applicable to a financial transaction that will take place in the future.Cross rate交叉匯率: The exchange rate between two

18、 currencies expressed as the ratio of two foreign exchange rates that are both expressed in terms of a third currency. Financial InstrumentsFinancial instruments金融工具: A financial instrument is a tradable asset of any kind; either cash, evidence of an ownership interest in an entity, or a contractual

19、 right to receive or deliver cash or another financial instrument. Debt instruments債務工具: They are contractual agreements by the borrower to pay the holder of the instruments fixed amount at regular intervals until the maturity date.Equities權益工具: They are claim to share in the net income and assets o

20、f a business.Cash instruments直接金融工具: Cash instruments are financial instruments whose value is determined directly by the markets. Derivative instruments衍生工具: They are financial instruments which derive their value from the value and characteristics of one or more underlying entities such as an asse

21、t, index, or interest rate. Maturity date到期日: The maturity of the debt instrument is the time to the instruments expiration date. Short-term debt短期債務: Its maturity is less than a year.Long-term debt長期債務: Its maturity is ten year or longer.Intermediate-term debt中期債務: Its maturity is between one and t

22、en years.Common stock普通股: Its holders will have the ownership of the corporations profit and the interest produced by its assets, the right to vote for its board of directors and the right asset distribution in case of its bankruptcy.Preferred stock優先股: Its holders will have the right to get a porti

23、on of dividends before its distribution to all Common Stock holders, but they have no right to vote or veto for the board of directors. Dividends 股利: It is the portion of corporate profits paid out to stockholders. Capital gain資本利得: A capital gain is a profit that results from a disposition of a cap

24、ital asset.Forward contract遠期合同: An agreement to buy or sell an asset at a certain date at a certain price. Forward price遠期價格: The agreed upon price of the underlying asset in a forward contract.Futures期貨: Futures are standardized forward transactions which are traded on exchanges, i.e. not OTC. Swa

25、ps掉期互換: It contains two simultaneous inseparable contract-deals, the first for spot delivery, and the second for future delivery.Option期權: A contract in which the writer promises that the contract buyer has the right, but not the obligation, to buy or sell a certain security at a certain price (the

26、strike price) on or before a certain expiration date. Foreign exchange option外匯期權: It gives the owner the right but not the obligation to exchange money denominated in one currency into another currency at a pre-agreed exchange rate on a specified date.European option contract歐式期權: An option contrac

27、t that may only be exercised on the expiration date. American option美式期權: An option contract that may be exercised at any time on or before the expiration date.Call Option看漲期權（買入): The right to buy a certain amount of a currency at a fixed rate (strike price) at a pre-arranged expiry datePut Option看

28、跌期權（賣出): The right to sell a certain amount of a currency at a fixed rate (strike price) at a pre-arranged expiry date. Financial InstitutionsFinancial institution(financial intermediation/ financial intermediary)金融機構: Financial institution is an institution that provides financial services for its

29、clients or members. Commercial banking商業銀行活動: 1) creation of money through lending and investing activities;2)holding of the deposits;3)provision of a mechanism for payment and transfer of funds.Investment banking投資銀行活動: Investment banking are banking activities associated with securities underwriti

30、ng, making a market in securities, and arranging mergers, acquisitions and restructuring.Pension fund養老基金: A pension fund is any plan, fund, or scheme which provides retirement income. The Central Bank中央銀行: A central bank is a public institution that manages a state's currency, money supply, and

31、 interest rates. Central banks also usually oversee the commercial banking system of their respective countries. Commercial BankingT-bill國庫券: T-bills which have no default risks are issued by the government to finance the national debt.The negotiable certificate of deposit可轉讓定期存單: A negotiable certi

32、ficate of deposit is a bank-issued security that documents a deposit and specifies the interest rate and the maturity date.Bankers acceptances銀行承兌匯票: A short-term debt instrument issued by a firm that is guaranteed by a commercial bank.Repurchase agreements回購協議: It is the sale of securities together

33、 with an agreement for the seller to buy back the securities at a later dateSettlement結算: Settlement is the striking of a balance between two or more parties having dealings with one another.Trust信托: A relationship in which one party, known as the trustor, gives to a person or organization, known as

34、 the trustee, the right to hold and invest assets or property on behalf of a third party, known as the beneficiary.Lease租賃: An agreement between two parties whereby one party allows the other to use his/her property for a certain period of time in exchange for a periodic fee.Factoring保理: Factoring i

35、s short-term financing from the nonrecourse sale of accounts receivable to a third party.Debtor債務人: A person, company, or other organization that owes money to another individual, company, or organization.Creditor債權人: A person or company to whom one owes money.Promissory Notes本票: A written promise m

36、ade by one party to make a stated payment in full by a certain date.Payment order 付款委托書: Instructions to transfer funds sent via paper and/or electronic means.Mail Transfer(M/T) 信匯: A mail transfer is to transfer funds by means of a payment order or a mail advice, or sometimes a debit advice issued

37、by a remitting bank, at the request of a remitter.Demand Draft(D/D)票匯: A draft or bill that is payable on demand or upon presentation.Telegraphic Transfer (T/T)電匯: Telegraphic transfer refers to remittance by Swift.Documentary collection跟單托收: It is an operation in which a bank collects payment on be

38、half of the seller (the principal) by delivering documents to the buyer.Collection order托收委托書: It is a type of document in which an attempt to promote the tendering of a payment or the deliverance of some sort of information is made.Invoice發票: A statement given by a seller to a buyer itemizing the s

39、ale and demanding payment.Bill of lading運單: A document issued by a carrier to a shipper, listing and acknowledging receipt of goods for transport and specifying terms of delivery.Collecting bank代收行: A bank that assists in obtaining payment in accordance with draft payment terms.Documents against pay

40、ment (D/P)支付交單: The presenting bank is authorized to release the documents to the drawee only against immediate payment.Documents against acceptance (D/A)承兌交單: The presenting bank releases the documents to the importer against his acceptance of a bill of exchange.Documentary Credit跟單信用證: 查不到，應該和信用證的

41、意義一致。Letter of credit信用證: It is a document that a financial institution or similar party issues to a seller of goods or services which provides that the issuer will pay the seller for goods or services the seller delivers to a third-party buyer.Advising bank通知行: The bank which advises a Letter of Cr

42、edit to the Beneficiary at the request of the issuing bank.Confirming bank保兌行: The bank which adds confirmation to an LC.Issuing bank開證行: The bank which issues a credit.Nominated Bank指定行:The bank with which credit is availableGuarantee保函: A promise made by a third party to provide payment on a bond.

43、Bid Bonds/Tender Guarantees/Tender Bond/Bid Security/Bid Guarantee投標保函: They guarantee that the winning bidder will undertake the contract under the terms at which they bid.Performance Guarantees/Performance Bond/Performance Security履約保函: It is a surety bond issued by an insurance company or a bank

44、to guarantee satisfactory completion of a project by a contractor.Down or Advance Payment Guarantee/ Refundment Guarantee for the Advance Payment/ Repayment Guarantee預付款保函: It guarantee the repayment in case of non contractual delivery.Retention money guarantees保留金保函: This guarantee secures sellers

45、compliance with his warranty obligations and enables the buyer to release the retained amount before termination of the warranty period.Maintenance guarantees維修保函: It is to secure the constructors obligations during the maintenance period once the construction has been completed.Certificate of an ar

46、bitration award (or arbitral award): 仲裁判決證明書Forwarding agents certificate of receipt (FCR): 運貨代理商的運貨單據Standby Letter of Credit備用信用證: It is designed to indemnify the beneficiary in the event of opening banks client to fail in complying with his commitments arising out of the underlying contract.Comme

47、rcial Loans商業貸款: It is a debt evidenced by a note which specifies, among other things, the principal amount, interest rate, and date of repayment. Export Credit出口信貸: It is government (government export credit agencies) guaranteed lending channeled through a commercial bank to support export.Buyer cr

48、edit買方信貸: In buyer credit, exporters bank provides loans to the importer (importers bank guarantees) or to importers bank, which on-lends(轉貸) the loan to the importer.Supplier credit賣方信貸: In supplier credit, exporters bank provides loans to the supplier (exporter) to finance the contract with specia

49、l payment terms which importer pays for the contract goods by half yearly installments.Forfaiting福費廷: Forfaiting provides a source of non-recourse finance through use of drafts, promissory notes or other instruments representing sums due to the exporter. It is a firm-based operation that the firm se

50、lls one of its transactions.Syndicated loan銀團貸款: A syndicated loan is a large credit loan arranged by a lead bank between a borrower, itself, and a group of other banks that are parties to the original credit agreement.Build-operate-transfer (BOT)項目融資: It is a form of project financing, wherein a private entity receives a concessionfrom the private or public sector to finance, design, construct, and operate a facility stated in the concession contract. A concession agreement: 特許經營協議 Investment BankInvestment bank投資銀行: Investment banks are financial insti