期货专业英语

期货专业英语期货专业英语PAGE1PAGE1/56中英文对照【期货词汇】中英文对照【期货词汇】AAAcrosstheboardAcrosstheboard全盘Allthemonthsofaparticularfuturescontractorfuturesoptioncontract.Allthemonthsofaparticularfuturescontractorfuturesoptioncontract.某一期货或期权合约的所有月份。某一期货或期权合约的所有月份。AdjustedFuturesPriceAdjustedFuturesPrice调整后的期货价格Thecash-priceequivalentreflectedinthecurrentfuturesprice.ThisisThecash-priceequivalentreflectedinthecurrentfuturesprice.Thisiscalculatedbytakingthefuturespricetimestheconversionfactorfortheparticularbytakingthefuturespricetimestheconversionfactorfortheparticularfinancialinstrument(e.g.,bondornote)beingdelivered.instrument(e.g.,bondornote)beingdelivered.等同的现金价格反映在现在的期货价格上。计算是通过用期货的价格乘以被交割的特定金融等同的现金价格反映在现在的期货价格上。计算是通过用期货的价格乘以被交割的特定金融商品的转换系数。商品的转换系数。(例如,债券或票据)American-styleoptionsAmerican-styleoptions美式期权Optionsthatpermitexerciseatanytimeonorbeforetheexpirationdate.Optionsthatpermitexerciseatanytimeonorbeforetheexpirationdate.在任何时间或者是在有效日期前被允许执行的期权。在任何时间或者是在有效日期前被允许执行的期权。AON(allornone)AON(AON(allornone)AON(全部的或决不)Ordertype:Atorderentry,ifitcanexecuteintotal,thenitexecutes.Ordertype:Atorderentry,ifitcanexecuteintotal,thenitexecutes.Otherwiseitstaysintheorderbookuntilitcanexecuteintotal.itstaysintheorderbookuntilitcanexecuteintotal.下单类型下单类型:在已经下单时，如果它能完全执行,那么就被执行。否则它会寄存在买卖盘记录一直到它能够完全执行。录一直到它能够完全执行。ArbitrageArbitrage套利ThesimultaneouspurchaseandsaleofidenticalorequivalentfinancialThesimultaneouspurchaseandsaleofidenticalorequivalentfinancialinstrumentsorcommodityfuturesinordertobenefitfromadiscrepancyininstrumentsorcommodityfuturesinordertobenefitfromadiscrepancyintheirpricerelationship.pricerelationship.同时的买卖相同或相等的金融商品或商品期货以从他们的价格差异中获利。期货专业英语期货专业英语PAGE2/PAGE2/56ArbitrationArbitration仲裁Theprocedureofsettlingdisputesbetweenmembers,orbetweenmembersTheprocedureofsettlingdisputesbetweenmembers,orbetweenmembersandcustomers.customers.解决在成员之间或成员和客户之间争论的程序。解决在成员之间或成员和客户之间争论的程序。As-oftradeAs-oftrade原有贸易AnunmatchedtradefromapreviousdaythatisresubmittedtotheclearingAnunmatchedtradefromapreviousdaythatisresubmittedtotheclearingsystem;tradeissubmitted'asof'theoriginaltradedate.system;tradeissubmitted'asof'theoriginaltradedate.前日未成交的单再被传送到结算系统并保留在原有的交易日。前日未成交的单再被传送到结算系统并保留在原有的交易日。AskAsk沽出价Alsocalled"offer."Amotiontosell.IndicatesawillingnesstosellafuturesAlsocalled"offer."Amotiontosell.Indicatesawillingnesstosellafuturescontractatagivenprice.contractatagivenprice.经常被称为“经常被称为“出价”它是一个出售的意思。指的是在指定的价格下愿意出售期货合约。AssignmentAssignment转让ThedesignationofanoptionwriterforfulfillmentofhisobligationtosellThedesignationofanoptionwriterforfulfillmentofhisobligationtoselltheunderlyingfuturescontract(calloptionswriter)orbuytheunderlyingunderlyingfuturescontract(calloptionswriter)orbuytheunderlyingfuturescontract(putoptionwriter)uponnoticefromtheClearingHouse.Noticetocontract(putoptionwriter)uponnoticefromtheClearingHouse.Noticetothesellerofanoptionthathasbeenexercisedbythebuyer.sellerofanoptionthathasbeenexercisedbythebuyer.期权卖方所给的履约通知的收据，它使得他必须履行特定的定约价格出售期权卖方所给的履约通知的收据，它使得他必须履行特定的定约价格出售(在看涨期权)或买进或买进(看跌期权)，原生期货的义务。买主通知期权的卖主这个交易已经执行。Associatedperson(AP)Associatedperson(AP)期货业务员Aperson,commonlycalledacommoditybroker,associatedwithandAperson,commonlycalledacommoditybroker,associatedwithandsolicitingcustomersandordersforafuturescommissionmerchantorintroducingcustomersandordersforafuturescommissionmerchantorintroducingbroker.TheAPmustpassaSeries3examination,belicensedbytheCFTCandbeaTheAPmustpassaSeries3examination,belicensedbytheCFTCandbeamemberoftheNFA.一般称为商品经纪人,他是联系和提供咨询给客户以及在期货商品市场委任商人或介绍经期货专业英语期货专业英语PAGEPAGE10/56纪人。这个委托人必须通过三种考试纪人。这个委托人必须通过三种考试,被CFTC许可并且是NFA的一个成员。AtthemarketAtthemarket市场价See"MarketOrder"See"MarketOrder"见"见"市场次序"At-the-moneyAt-the-money平价Anoptionwithastrikepriceequaltotheunderlyingfuturesprice.Anoptionwithastrikepriceequaltotheunderlyingfuturesprice.一个期权的执行价等于其原生期货的价格。一个期权的执行价等于其原生期货的价格。AverageDailyVolumeAverageDailyVolume平均每日交易量EqualsvolumeforaspecifiedtimeperioddividedbythenumberofbusinessEqualsvolumeforaspecifiedtimeperioddividedbythenumberofbusinessdayswithinthatsametimeperiod.withinthatsametimeperiod.它等于在特定的时期交易量除以同样的特定时期内的工作天数。它等于在特定的时期交易量除以同样的特定时期内的工作天数。AverageDownAverageDown平均值下移Tobuymoreofasecurityatalowerprice,therebyreducingtheholder'sTobuymoreofasecurityatalowerprice,therebyreducingtheholder'saveragecost.(averageUp:tobuymoreatahigherprice).cost.(averageUp:tobuymoreatahigherprice).用低价买进更多的证券，以降低持有者的平均成本。用低价买进更多的证券，以降低持有者的平均成本。(平均值上移:以比较高的价格买更多证券。多证券。)AveragePriceCallAveragePriceCall平均价买入期权AtypeofoptionwherethepayoffiseitherzeroortheamountbywhichtheAtypeofoptionwherethepayoffiseitherzeroortheamountbywhichtheaveragepriceoftheassetexceedsthestrike.averagepriceoftheassetexceedsthestrike.是一种零盈利的期权或者是资产的平均价格超过执行价的期权。是一种零盈利的期权或者是资产的平均价格超过执行价的期权。AveragePricePutAveragePricePut平均价卖出期权AtypeofoptionwherethepayoffiseitherzeroortheamountbywhichtheAtypeofoptionwherethepayoffiseitherzeroortheamountbywhichthestrikepriceexceedstheaveragepriceoftheasset.priceexceedstheaveragepriceoftheasset.是一种零盈利的期权或者是执行价超过资产平均价格的期权。是一种零盈利的期权或者是执行价超过资产平均价格的期权。BBackmonths远期月Thefuturesoroptionsonfuturesmonthsbeingtradedthatarefurthestfromexpiration.Alsocalleddeferredordistantmonths.期货或期权的交易月离有效期最远的月份。Barchart条形图Agraphofprices,volumeandopeninterestforaspecifiedtimeperiodusedbythechartisttoforecastmarkettrends.Adailybarchartplotseachtradingsession'shigh,lowandsettlementprices.由制表人用特定时期的价格、交易量、未平仓权益组成的图表来预测市场趋势。日条形图描绘了交易日的最高价、最低价和交易价。Basis基差Thedifferencebetweenthespotorcashpriceofacommodityandthefuturespriceofthesameorarelatedcommodity.Basisisusuallycomputedtothenearfuture,andmayrepresentdifferenttimeperiods,productforms,qualitiesandlocations.现货或商品的现金价格和相同的期货价格或相关价格的差额。它通常被计算到近期的期货,和可能表现不同的时间期数、产品规格、质量和场所。Basiscontract基差合约Aforwardcontractinwhichthecashpriceisbasedonthebasisrelatingtoaspecifiedfuturescontract.现价建立在与特定的期货合约的基差基础上的远期合同。Bear(跌市)Onewhobelievespriceswillmovelower.一个人相信价格趋势将会不断下跌。Bearcallspread熊市购进认购期权跨价组合Thepurchaseofacallwithahighstrikepriceagainstthesaleofacallwithalowerstrikeprice.Themaximumprofitreceivableisthenetpremiumreceived(premiumreceived-premiumpaid),whilethemaximumlossiscalculatedbysubtractingthenet.期权价，而最大的损失是要减去净期权价。Bearmarket(bear/bearish)(熊市/)Amarketinwhichpricesaredeclining.一个价格趋势正在下滑的市场。Bearishkeyreversal熊市重要反转Abarchartformationthatoccursinanuptrendingmarketwhentheday'shighishigher,lowislowerandcloseisbelowthepreviousday's.Cansignalanupcomingdowntrend.一种图表形势，出现在上涨的市场中，这一天的高价比以前高，低价比以前低，收市价也比以前低。能够预示下跌趋势。Beta贝塔系数Ameasurecorrelatingstockpricemovementtothemovementofanindex.Betaisusedtodeterminethenumberofcontractsrequiredtohedgewithstockindexfuturesorfuturesoptions.把股票价格的运动联系到指数运动的一种衡量方法。贝塔用来决定用股指期货或期货期权套利保值所需的合约量。Bid买价Thepricethatthemarketparticipantsarewillingtopay.市场参与者是愿意支付的价格。Bid(orbuy)买(或买)Anoffertobuyaspecificquantityofacommodityatastatedprice.Thepricethatthemarketparticipantsarewillingtopay.以指定了的价格购买特定数量的商品。市场参与者愿意支付的价格。BlackScholesModel布莱克斯格尔模式AmodelusedtocalculatethevalueofaEuropeancalloption.Developedin1973byFisherBlackandMyronScholes,itutilizesthestock.1973FisherBlackMyronScholes发展的，它运用股票计算。Blowoffvolume倾销量Anextraordinarilyhighvolumetradingsessionoccurringsuddenlyinanuptrendsignalingtheendofthetrend.一个反常的高成交量交易部分突然在上升趋势中发生，预示着趋势的结束。BoardofTrade交易委员会Anexchangewherecommodityfuturesand/orfuturesoptionsaretraded.一个商品期货和/或者是期货期权买卖的交易场所。Bond债券Instrumenttradedonthecashmarket-representingadebtofthegovernmentorofacompany.在现金市场中交易的工具它代表着一种政府或公司的债务。BoxSpread盒式套利Adualoptionpositioninvolvingabullandbearspreadwithidenticalexpirydates.Thisinvestmentstrategyprovidesforminimalrisk.Additionally,itcanleadtoanarbitragepositionasaninvestorattemptstolockinasmallreturnatexpiry.一种期权策略，这种策略可以借具有相同有效期的看跌期权或者看涨期权得以贯彻。可以将风险最小化。同时，当投资者打算锁定到期时的最小收益时，可以产生套利机会。Break突破Asuddenpricemove;pricesmaybeakupordown.一次突然的价格变动;价格可能上升或下降。Breakawaygap突破缺口Agapinpricesthatsignalstheendofapricepatternandthebeginningofanimportantmarketmove.价格的一个缺口，表示一个价格趋势的结束和一个重要的市场运动的开始。Breakeven平衡点（收支相抵）Thepointatwhichanoptionbuyerorsellerexperiencesnolossandnoprofitonanoption.Callbreakevenequalsthestrikepriceplusthepremium.Putbreakevenequalsthestrikepriceminusthepremium.一个策略的既不赢钱也不输钱的股票价格。买入期权收支平衡点等于执行价加上期权金。卖出期权的收支平衡等于执行价减去期权金。Brokerage佣金Thefeechargedbyabrokerforexecutionofatransaction.Maybeaflatamountorapercentage;usuallyreferredtoasacommission.是经纪商对交易收取的费用。可能是一笔固定的金额或是百分比，通常指的是中介费。Brokeragehouse经纪行Afirmthathandlesorderstobuyandsellfuturesandoptionscontractsforcustomers.一个为客户处理期货和期权买卖合约订单的公司。Bulge暴涨Aslangtermusedtodescribearapidadvanceinpriceswithinthecommoditiesmarket.是用来描绘一个在商品市场内快速升高的价格。Bull(买空)Onewhoexpectspricestorise.预期价格会上升Bullmarket牛市、多头市场Amarketinwhichpricesarerising.一个价格正在上涨的市场。Bullspread牛市套利Averticalspreadinvolvingthepurchaseofthelowerstrikecallandthesaleofthehigherstrikecall,calledabullcallspread.Also,averticalspreadinvolvingthepurchaseofthelowerstrikeputandthesaleofthehigherstrikeput.它是买一手较低定约价的期权，同时卖一手较高定约价的期权，两手期权一般有相同的合约到期日。看跌期权或者看涨期权都可以用于这一策略。Bullishkeyreversal牛市重要反转Abarchartformationthatoccursinadowntrendingmarketwhentheday'shighishigher,lowislowerandcloseisabovethepreviousday's.Cansignalanupcominguptrend.出现在下降趋势的市场中，最高价比前一天更高，最低价更低，收盘价高与前一天的徒刑。表明一个上涨趋势的来临。Bundle一揽子交易Thesimultaneoussaleorpurchaseofoneeachofaseriesofconsecutivefuturescontracts.Bundlesprovideareadilyavailable,widelyacceptedmethodforexecutingmultiplefuturescontractswithasingletransaction.同时买卖一系列相连的期货合同，他是提供一个易于获得并且被广泛接受的在一个交易中执行多个期货合同的方法。Buoyant市场活跃Thetermusedtodescribeacommoditiesmarketwherethepricesgenerallyrisewitheasewhenthereareconsiderablesignalsofstrength.用来描述有显著力量时价格可以轻易上升的商品市场的术语。ButterflySpread蝶式套利Anoptionstrategycombiningabullandbearspread.Itusesthreestrikeprices.Thelowertwostrikepricesareusedinthebullspread,andthehigherstrikepriceinthebearspread.Bothputsandcallscanbeused.一种期权策略，由一手牛市套利和一手熊市套利组合而成的。它牵涉到三个定约价，两个最低的用于牛市套利，两个最高的用于熊市套利。买入和卖出期权都可以使用。BuyToClose买进冲销、买进平仓Atermusedbymanybrokeragestorepresenttheclosingofashortpositioninoptiontransactions.在期权交易中有许多经纪人使用的买进来平仓。BuyToOpen买入建仓Atermusedbymanybrokeragestorepresenttheopeningofalongpositioninoptiontransactions.在期权交易中有许多经纪人使用的用买进来建仓。CCall买入期权Anoptiontobuyacommodity,securityorfuturescontractataspecifiedpriceanytimebetweennowandtheexpirationdateoftheoptioncontract.一种期权合约，它给持有者以权利，在一固定的时间内，按一特定的价格买进其原生证券。又见看涨期权.Callbreakeven买入期权平衡点See"breakeven."见“平衡点”Calloption买进期权Anoptioncontractwhichgivesthebuyertheright,butnottheobligation,topurchaseaspecificfuturescontractatafixedprice(strikeprice)withinaspecifiedperiodoftimeasdesignatedbytheExchangeinitscontractspecifications.一种期权，给买主一种权力但不是义务，去购买执行价的特定期货合约。由交易所指定根据此合约的要求规定的在指定的时间内Callprofit/loss认购期权盈亏Foralongcall,equaltothecallvalueminusthepremium.Forashortcall,equaltothepremiumminusthecallvalue.对于买进看涨的期权，等同于期权价值减去期权金，对于一个卖出的认购期权，等同于期权的保险金减去期权价值。Callvalue认购价值Atexpiration,equaltothefuturespriceminusthestrikepriceofthecall.在有效期内，等同于期货价格减去期权执行价。CancelingOrder取消订单Anorderthatremovesacustomer'spreviousorderfromthemarket.从交易市场清除客户近期的订单。CarryingCharge(CostofCarry)持仓费Forphysicalcommoditiessuchasgrainsandmetals,thecostofstoragespace,insurance,andfinancechargesincurredbyholdingaphysicalcommodity.Ininterestratefuturesmarkets,itreferstothedifferentialbetweentheyieldonacashinstrument.对于现货商品像谷类和金属类，为了储存这些现货商品对于储存费用和保险费用以及其它的费用的支出。在利率期货市场中是现金工具的收益差价。Carryover接转Lastyear'sendingstocksofastorablecommodity.去年底的商品储存量。Cashcommodity现货Theactualphysicalcommodityasdistinguishedfromafuturescontract.不同于期货合约的实际商品。Cashprice现货价Currentmarketpriceoftheactualphysicalcommodity.Alsocalled"spotprice."实际的现货商品的目前市场价格，也叫“现货价”。Cashsettlement现金交割Finaldispositionofopenpositionsonthelasttradingdayofacontractmonth.Occursinmarketswherethereisnoactualdelivery.在合约月的一个最后交易日最终的斩仓，在没有实际货物交割的市场中发生。CertificateofDeposit(CD)存款证Atimedepositwithaspecificmaturityevidencedbyacertificate.一个定期存款的证书。Charting绘图Theuseofgraphsandchartsinthetechnicalanalysisoffuturesmarketstoplottrendsofpricemovements,averagemovementsofprice,andvolumeandopeninterest.在期货市场的技术分析中运用图形和图表去划分价格活动和平均价格的趋势以及交易量和未平仓状况。Chartist绘图分析员Onewhoengagesintechnicalanalysis.运用技术分析的人员。Cheapesttodeliver廉价交割方式Amethodtodeterminewhichparticularcashdebtinstrumentismostprofitabletodeliveragainstafuturescontract.在期货市场中一种决定哪种特殊的现金贷款工具是最能获利的交割的方法。ClassBclearingmemberB等级清算成员Anon-bankmemberfirmwhoseprivilegesandrightsarelimitedtoconductingproprietaryarbitrageinforeigncurrencieswithasingleExchange-approvedbank.非银行成员企业的特权被限制于私有的套利在外币与唯一一家批准的银行。(看"清算成员")。Classcodeortransitionclass分类符号或转折组Equivalentto'group/instruments'whichgroupsaninstrument'sfuturesandoptionsseparately(callsandputsarenotseparate).(e.g.,Eurodollarfutures(GE)andEurodollaroptions(ZE);orBritishPoundFutures(BP)andBritishPoundOptions(OP).等于小组/(认购与认估期权并不分组)(举例,(GE)和欧元期权(ZE);或英磅期货(BP)和英磅期权(OP)。Clearing清算TheprocedurethroughwhichtheClearingHousebecomesbuyertoeachsellerofafuturescontract,andsellertoeachbuyer,andassumesresponsibilityforprotectingbuyersandsellersfromfinanciallossbyassuringperformanceoneachcontract.是清算行买卖期货合约的过程，通过确保每个合同来承担保护买卖者不受经济损失的责任。Clearingfee结算费AfeechargedbytheexchangeforeachfuturesoroptionscontractclearedordeliveredontheExchange.FeesmaybewaivedorreducedforsomecommoditiesasspecifiedbytheBoardofDirectorsfromtimetotime.交易所对每一个期货或者期权合约交割所收取的费用。这个费用是根据委员会成员所指定的商品扣除的费用。Clearingmargin结算押金Financialsafeguardstoensurethatclearingmembers(usuallycompaniesorcorporations)performontheircustomers'openfuturesandoptionscontracts.是一种对他们的客户所开的期货和期权合约收取的保证金，确保结算会员(通常是公司或企业)的一种经济担保。Clearingtradetransaction结算交易Eachmatchedtradebetweenabuyerandasellergeneratestwoclearingtradetransactions:oneforthebuyerandonefortheseller.买卖双方每一笔交易产生两个清算交易，一个是买主的另一个是卖主的。Close收盘、收市Theperiodattheendofthetradingsession.Sometimesusedtorefertotheclosingrange.交易过程结束的时间。通常指的是那段时间价格的波动幅度。Closingprice收盘价Thelastpriceofacontractattheendofatradingsession.在收市时最后一笔成交合约的成交价格。Closingrange结算幅度ThehighandlowpricesorbidsandoffersrecordedduringtheperioddesignatedbytheExchangeastheofficialclose(thefinal60secondsoftradingincurrenciesand30secondsinallothercontracts).由交易所规定的收市时的高价和低价或者是开价和还价。(最后外汇交易的最后6030秒)。CommissionFee佣金Afeechargedbyabrokerforexecutingatransaction.Alsoreferredtoasbrokeragefee.是经纪商对买卖交易收取的费用。也叫作经纪费。CommitmentofOpenInterest未平仓权益承诺Whenatraderorinstitutionassumestheobligationtoacceptormakedeliveryonafuturescontract.当一个交易者或是一个机构接受或者交割期货合约买卖时所承担的义务。Contractclose-out清算合约Completionandsettlementofthecontract,includingresolutionofalloutstandingitems.合约的完成和交割包括解决一切未解决的项目。ContractGrades合约级别Thestandardgradesofcommoditiesorinstrumentslistedintherulesoftheexchangesthatmustbemetwhendeliveringcashcommoditiesagainstfuturescontracts.Gradesareoftenaccompaniedbyascheduleofdiscountsandpremiumsallowablefordelivery.商品或者工具标准的规格必需符合交易所对现货和期货合约交割的所列出规定。这个级别通常是伴随着折扣或是额外费用。Contractmonth到期交割月Themonthinwhichfuturescontractsmaybesatisfiedbymakingoracceptingdelivery.Alsocalledthedeliverymonth.一个被制定或接受的期货合约交割月份。也叫交割月。Convergence整合Atermreferringtocashandfuturespricestendingtocometogether(i.e.,thebasisapproacheszero)asthefuturescontractnearsexpiration.指的是期货合约接近到期日时，现货和期货价趋于一致(例如，基差接近零)。Coupon票面利率Theinterestrateonadebtinstrumentexpressedintermsofapercentonanannualizedbasisthattheissuerguaranteestopaytheholderuntilmaturity.一种利率，是出票人在票据到期时，向持有者支付的债务工具的年金的百分比。Creditspread融资套利Anoptionspreadinwhichthereisanetcollectionofpremium.净保证金积累的一种期权套利。CrushSpread变形套利Thepurchaseofsoybeanfuturesandthesimultaneoussaleofsoybeanoilandmealfutures.SeeReverseCrush.购买大豆期货和同时卖出豆油和豆粕期货。Cultural文化风险Culturalriskisriskarisingfromlongstandingembeddedprocessandprocedures,orfromexperiencedbasedbias.文化风险的形成是由于持久深入的过程与流程，或因为经验上的偏见。Currentdeliverymonth当前交割月Thefuturescontractwhichmaturesandbecomesdeliverableduringthepresentmonth.期货合约到期和可以交割的月份。CustomerMargin客户保证金Withinthefuturesindustry,financialguaranteesrequiredofbothbuyersandsellersoffuturescontractsandsellersofoptionscontractstoensurefulfillmentofcontractobligations.在期货行业中，期货和期权合约的买卖双方都要求经济担保去保证合约义务的实行。DDailytradinglimits日交易限制ThemaximumpricefluctuationspermittedacontractduringonetradingsessionassetbytheExchange.Theseexistoncertaincontracts.由交易所制定的在一天交易部分允许上下浮动的最大价格。只存在于特定合约中。Daytrader当日交易者Atraderwhoestablishesandliquidatespositionswithinoneday'strading,endingthedaywithnoestablishedpositioninthemarket.在买卖当日即找合意价位平仓之短线交易者。Daytrading即日交易Referstoestablishingandliquidatingthesamepositionorpositionswithinoneday'strading,thusendingthedaywithnoestablishedpositioninthemarket.指的是一天内建仓和平仓，就是在收市时没有仓位。Differentials差价Pricedifferencesbetweenclasses,grades,anddeliverylocationsofvariousstocksofthesamecommodity.同一种商品的各种股票种类、等级和交割地点的价格差异。Deferred延期See"backmonths."见“远期月"Delivery交割Thetenderandreceiptofanactualcommodityorfinancialinstrumentinsettlementofafuturescontract.履行期货合约中，交付和接收金融商品或实际商品。Deliverymonth交割月See"contractmonth."见"到期交割月"DeliveryPoints交割点Thelocationsandfacilitiesdesignatedbyafuturesexchangewherestocksofacommoditymaybedeliveredinfulfillmentofafuturescontract,underproceduresestablishedbytheexchange.行期货合约。Delta代尔塔Themeasureoftheprice-changerelationshipbetweenanoptionandtheunderlyingfuturesprice.Equaltothechangeinpremiumdividedbythechangeinfuturesprice.底层实体价格的每一点数的变化所引起的期权价格的变化。看涨期权的代尔塔是正值的；看跌期权的代尔塔是负值的。从技术上来说，代尔塔是衡量期权价格即刻变化的参数，因此，即使是底层实体价格中不足一个点数的变化，也会导致代尔塔的变化。Demand需求Thequantityofacommoditythatbuyersarewillingtopurchasefromthemarketatagivenprice.买者愿意从市场指定价购买商品的数量。EElliotwavetheory艾略特波浪理论Atypeoftechnicalanalysisthatstudiespricewavesequences.是研究价格波动的一种技术分析类型。EquilibriumPrice均衡价格Themarketpriceatwhichthequantitysuppliedofacommodityequalsthequantitydemanded.商品的数量供应等于需求数量的市场价。European-styleoptions欧式期权Optionsthatmaybeexercisedonlyontheoption'sexpirationdate.只能在到期日执行的期权。Excessreserves超额储备Anyexcessofactualreservesaboverequiredreserves.实际储备量超过了要求的储备。Exercise执行Theprocessofanoptionholderexchangingitfortheunderlyingfuturescontract.期权合同的持有人购进或出售一笔原生期货合同的过程。Exerciseorstrikeprice执行或交易价格Thepriceatwhichthebuyerofacallcanpurchasethecommodityduringthelifeoftheoption,andthepriceatwhichthebuyerofaputcansellthecommodityduringthelifeoftheoption.在期权时限内，买方的叫价能够买进商品，和买方沽出商品的价格。Exerciseprice执行价格Thepriceatwhichtheholder(buyer)maypurchaseorselltheunderlyingfuturescontract.Alsocalledstrikeprice.指股票能在承购合同中被购入或在承销合同中被卖出的那个固定价格。也叫做执行价。Exhaustiongap竭尽缺口Agapinpricesnearthetoporbottomofapricemovethatsignalsanabruptturninthemarket.接近价格的高峰或低谷时出现价格缺口，预示着行情将要逆转。ExpandedTradingHours延迟交易时间AdditionaltradinghoursofspecificfuturesandoptionscontractsattheChicagoBoardofTradethatoverlapwithbusinesshoursinothertimezones.（CBOT期货交易所对特定的期货和期权所增加的交易时间与其他时区工作时间重叠。Expiration期满、截止期限Correspondstotheexpirationdateofacontract.Thelastdayonwhichanoptionmaybeexercisedintotheunderlyingfuturescontract.合约的有效期限。期权在原生期货合约执行的最后交易日。FFastmarket快市Termusedtodefineunusuallyhecticmarketconditions.通常用来定义市场活跃的情况FederalFundsRate联邦基金利率Therateofinterestchargedfortheuseoffederalfunds.指使用联邦基金付出的利息率FeedRatio饲养收益率Aratiousedtoexpresstherelationshipoffeedingcoststothedollarvalueoflivestock.SeeHog/CornRatioandSteer/CornRatio./玉米饲养率和牛/玉米饲养率Fill-or-killorder(FOK)成交或取消委托Alimitorderthatmustbefilledimmediatelyorcanceled.立刻成交否则即取消的限价委托单FinancialInstrument金融商品Therearetwobasictypes:(1)adebtinstrument,whichisaloanwithanagreementtopaybackfundswithinterest;(2)anequitysecurity,whichisashareorstockinacompany.有两种类型：（1）债务工具，协议在还款时支付利息的贷款（2）份或股权FirstDayNotice第一通知日Thefirstdaythatanoticeofintenttodeliveracommoditycanbemadebyaclearinghousetoabuyerinfulfillmentofagivenmonth'sfuturescontract.清算所通知买方指定月份的期货合同可以交货的第一天Floortrader场内交易员Anexchangememberwhogenerallytradesonlyhisorherownaccountorforanaccountcontrolledbyhimorher.Alsoreferredtoasalocal.交易所内为自己的账户或他人的账户从事交易的股票交易所成员。FullCarryingChargeMarket总持仓价市场Afuturesmarketwherethepricedifferencebetweendeliverymonthsreflectsthetotalcostsofinterest,insurance,andstorage.交割月份之间的差异反映了利息，保险，仓储的总成本的一个期货市场Futures期货Atermusedtodesignateallcontractscoveringthepurchaseandsaleoffinancialinstrumentsorphysicalcommoditiesforfuturedeliveryonacommodityfuturesexchange.指的是在商品期货交易所中为了将来交割出售和购买金融商品和商品而订立的合同Futurescontract期货合同Astandardizedagreementtradedonafuturesexchange,tobuyorsellacommodityataspecifiedpriceatadateinthefuture.Specifiesthecommodity,quality,quantity,deliverydateanddeliverypointorcashsettlement.就一期货交易签订的标准化的协议,以在将来的一定日期以特定价格购买或出售某商品，详细说明商品,品质,数量,交割日期，交割地以及现金种类.FuturesExchange期货交易所Acentralmarketplacewithestablishedrulesandregulationswherebuyersandsellersmeettotradefuturesandoptionsonfuturescontracts.建立了规则和制度的买家和卖家交易期货和期货期权的中心场所GGamma伽玛Themeasureofthechangeinanoption'sdeltagivenachangeinthefuturesprice.Equaltothechangeindeltadividedbythechangeinfuturesprice.衡量期权中随期货价格变化的delta值的变化，相当于delta值的变化除以期货价格的变化。Gap缺口Apriceareaatwhichthemarketdidn'ttradefromonedaytothenext.市场交易价格由一天到另一天不是连续变化的的价格区域Gaptheory缺口理论Atypeoftechnicalanalysisthatstudiesgapsinprices.一种研究价格差距的技术分析类型Giveup过户Anordertobegiventoanothermemberfirminclearingsystem,anallocation.AnorderexecutedbyclearingfirmAandgiventoclearingfirmBwhereitwillbeclearedandprocessed.给清算系统中另一成员的指令，由清算公司A执行，然后交给清算公司B清算和处理GrossDomesticProduct(GDP)国内生产总值Thevalueofallfinalgoodsandservicesproducedbyaneconomyoveraparticulartimeperiod,normallyayear.一国在一段特点时间范围内(通常为一年)生产的最终产品和服务的价值GrossNationalProduct(GNP)国民生产总值GrossDomesticProductplustheincomeaccruingtodomesticresidentsasaresultofinvestmentsabroadlessincomeearnedindomesticmarketsaccruingtoforeignersabroad.国内生产总值加上国内居民由于国外投资而产生的收入,再加上境外人员在国内市场产生的少量收入GrossProcessingMargin(GPM)加工毛利Thedifferencebetweenthecostofsoybeansandthecombinedsalesincomeoftheprocessedsoybeanoilandmeal.大豆的成本与豆油和豆粕售出产生的总收入间的差价HHeadandshoulders头肩形Asidewayspriceformationatthetoporbottomofthemarketthatindicatesamajormarketreversal.在市场价格的顶端和底部一个价格横摆走势形成，来表示一个主要的市场逆转。Hedge保值Thepurchaseorsaleofafuturescontractasatemporarysubstituteforacashmarkettransactiontobemadeatalaterdate.Usuallyitinvolvesoppositepositionsinthecashmarketandfuturesmarketatthesametime.购买或者出售一个期货合同作为一种临时性的替代品,..Hedger保值避险者Apersonorfirmwhousesthefuturesmarkettooffsetpriceriskwhenintendingtosellorbuytheactualcommodity.那些打算销售或购买实际商品并利用期货市场来抵消价格风险的人或公司Hiddenquantity隐藏交易额Orderqualifier:indicatesthatthetotalquantitywillnotbedisplayedtothemarket,butonlyperincrementsasindicated.Differencebetweenorderquantityanddisplayedquantityishidden.订单种类：表明总数量将不会显示在市场中,只有每个增加的数量才会被显示。总数量与显示量之间的区别数量将被隐藏。High高价Thehighestpriceforaparticularfuturescontractoveraspecifiedtimeperiod.一特定期货合同在一特定时间范围内的最高价格HighLimit涨停价Absolutetoppriceforavalidorderperagiveninstrument.Anyorderwithahigherpriceisrejected.每一指定商品的有效订单的绝对高价。高于这个价格的订单将被拒绝Historicalvolatility历史波幅See"volatility."见"波幅"Holder持有者Onewhopurchasesanoption.购买期权的人Hog/CornRatio猪/玉米比率Whencornpricesarehighrelativetoporkprices,fewerunitsofcornequalthedollarvalueof100poundsofpork.Conversely,whencornpricesarelowinrelationtoporkprices,moreunitsofcornarerequiredtoequalthevalueof100poundsofpork.当玉米对猪肉价格相对较高时,较少单位的玉米与100,相反的,当玉米对猪肉的价格相对较低时,较多单位的玉米与100磅猪肉的美元价格相等House清算所Clearingmemberorafirm.清算成员或公司Hundredweight英担100pounds.Abbreviatedcwt.100磅,简写cwtIIn-the-money实值Acalloptionwithastrikepricelessthantheunderlyingfuturesprice.Aputoptionwithastrikepricegreaterthantheunderlyingfuturesprice.买入期权的执行价格低于原生期货价格,卖出期权执行价格高于原生期货价格Index指数Anumberthatisrepresentativeofawholemarketormarketsegment,usuallycomputedbyasumproductofalistofinstruments'currentpricesandalistofweightsassignedtotheseinstruments.对于整个市场或某部分市场有代表性的数字,通常依靠一组交易物的现价和这组交易物的重要程度来估算Initialmargin原始保证金TheminimumperformancebonddepositrequiredfromcustomersforeachcontractinaccordancewiththerulesoftheExchange.根据交易所规定客户为每笔合同交纳的最小的执行债券押金Instrument金融商品Contracttobetraded;e.g.,GEZ9.被交易的合同，例如GEZ9.In-the-MoneyOption实值期权Anoptionwithintrinsicvalue.Acalloptionisin-the-moneyifitsstrikepriceisbelowthecurrentpriceoftheunderlyingfuturescontract.Aputoptionisin-the-moneyifitsstrikepriceisabovethecurrentpriceoftheunderlyingfuturescontract.有内在价值的期权。当买入期权的执行价格低于原生期货合同的价格,卖出期权的执行价格高于原生期货合同的价格是价内期权Intrinsicvalue内在价值Therelationshipofanoption