大金融英语chapter 10 Securities Markets

1、chapter tensecurities marketslearning objectivesafter studying this chapter you should be able to:1. explain the meaning of securities markets2. tell the reasons why people invest in securities markets3. describe the clarifications of securities markets4. explain how securities transactions take pla

2、ce5. give a brief introduction to major securities exchanges in the u.s. and in the u.k.6. tell the chief economic functions of securities marketsnotesi.new words1. claim n. 要求权，e.g. a financial on the business 向企业提出的金融要求权2. cash-rich a. 有许多现金的3. rare coins 稀有硬币4. high-risk a. 高风险的5. to triple vi. 三

3、倍6. to supplement vt. 作为补充7. yield n. 收益return8. dividend n. 股利，股息9. speculation n. 投机to buy sth. or invest in sth. with the hope to make a big profit in a very short period of time10. confidential a. 机密的，e.g. to keep sth. notes11. quotation terminals 报价终端12. a bolt of cloth 一匹棉布13. general store 百货

4、商店，e.g. to get things at a 在百货商店购物14. to maximize vt. 使最大化（与minimize相对）15. personality n. 个性，人格16. trait n. 特性17. proceeds n. 钱款，从所获收益（注意proceed后必须加s）18. to flourish vi. 兴旺，繁荣to be successful in business19. remnent n. 剩余部分20. to amalgamate vi. 使合并notes21. the big bang 22. scales of commission 佣金级别23

5、. jobber n.（英）在证交所里只与股票经纪人进行买卖业务的中间交易人24. market maker 造市者25. listed companies 在证交所挂牌上市的公司 26. stringent a. 严格的，来历的27. american depository receipts 美国存券收据notes28. equities n. 股票29. the london international financial futures and option exchange 伦敦国际金融期货与选择权交易所30. shortfall n. 缺少，不足，亏空31. to prompt vt

6、. 促使32. to pool vi. 使汇合在一起33. to redistribute vi. 再分配，重新分配34. diverse a. 不同的35. implicitly adv. 不言明地notesii.useful and idiomatic expressions1. to live on fixed income 靠固定收入生活2. be uncomfortable about sth. 对不感到轻松自在3. to thrive on 靠兴旺发达4. to take chances with money 冒玩钱的风险5. to place a buy order 下定单购买，

7、下购买的定单notes6. to purchase shares on credit 赊账购买股票7.to grow with the city 与伦敦一同成长（文中大写的city前加the代表伦敦，of london被省略）8. to allocate scarce capital among 将稀少的资本在中间分配9. a variety of 种种10. in contrast to 与形成对照11. be true of. 对适用notesiii. key terms1. private placements（美）私人募集，非公开发行（英）private placing: the se

8、lling of shares in a private company direct to investors, often without the intermediary of a stock broker2. earnings ratio 收益比率per share ratio or p/e ratio: ratio between the market price of a share and the earnings per share calculated by dividing the market price by the earnings per share3. publi

9、c expenditure 公共开支spending of money by the local or central government4. ordinary share(英) 普通股(美) common stock normal shares in a company, which have no special benefits or restrictions.5. gilts (英)政府债券（它是金边债券gilt-edged securities的缩写）在英国仅指（gb government securities）英政府债券或证劵notes16.ready money or read

10、y cash 现金17.danger money 危险工作补贴18.standard money 本位货币19.smart money 投资于有高回报工程的钱20.safe-heaven money 币值稳定且有升值空间的钱21.fiat money 不兑现纸币22.token money 辅币main text definition of securities markets stocks and bonds are both known as securities because they represent a secured (asset-based) claim on the par

11、t of investors. but while stocks are a claim on all the assets of a corporation (because they represent a part-ownership of the business), bonds are strictly a financial claim on the business. collectively, the market in which stocks and bonds are sold is called the securities market. stock markets

12、and bond markets are the main category of securities markets and capital markets as well.main text reasons for investing in securities markets 1. speculation 2. growth 3. income 4. yieldmain text division of securities markets primary market secondary marketmain text how do securities transactions t

13、ake place? 1. using financial information services 2. selecting a broker 3. plating an order 4. financing securities purchasesmain text introduction to well-known u.k. and u.s. stock exchanges the london stock exchange (lse) new york stock exchange (nyse) the american stock exchange (amex or ase) main text economic functions of a securities market 1. individual wealth allocation 2. firm resources allocation 3. source of information 1. why do people invest in securities markets? 2. how are securities markets classified? 3. how do securities transactions take place? 4. give