1、期货术语中英文对照期货中国 时间：2010-01-28 18:01:13 来源：期货中国 期货中国网-股指期货/ 商品期货投资自由之路Actuals 现货（LME 普遍使用 physical）Arbitrage 市场间套利Assay 检验分析Ask 要价，喊价At-the-Money 相等价值：期权履约价与当前期权期货合约的现价完全相同Backpricing 有效时间定价：生产者常用 LME 结算价作为报价基准, 每天公布的结算价到次日中午有效。又称公认定价(Pricing on the Known)Backwardation 现货升水：现货价高于期货价（又称 Back），是为逆向市场、倒价市
2、场Base Metal 贱金属，基金属：除金、银、铂族以外的金属Bar Chart 条形图Basis 基差：同一种商品现货价与期货价之差Basis Price 基本价格，履约价格：期权交易中买卖双方商定，并按此进行交易的价格。又称敲定价格（Strik Price），通常为当前市场价Bear 卖空者，看跌者：与 Bull 正相反Bear Covering 结束空头部位Bear Market 空头市场，熊市：价格普遍下跌的市场Bear Position 空头部位：已卖出期货，期望以后能以较低价买进，利润为现在卖出与以后补进价之差额Best Orders 最佳买卖订单（Buing/Selling a
3、t Best）Bid 买方出价Bond 债券Bottom 底价：某时间段内的最低价Borrowing 借入（Borrowing metal from the market）：买进近期货的同时，卖出远期货Break 暴跌，暴升，突破：价格出现较大波动Broker 经纪行，经纪人Bull 买空者，看涨者：与 Bear 相反Bull Market 多头市场，牛市：价格普遍上涨的市场Bull Position 多头部位：已买进期货，期望以后能以较高价卖出，其利润为现在买进与以后卖出价之差额Business Day 交易日Buying Hedge （Long Hedge）买进套期保值Buy In 补进：
4、平仓、对冲或关闭一个空头部位Buy on Close 收市买进：在收市时按收市价买进Buy on Opening 开市买进：在开市时按开市价买进Call Option 看涨期权,延买期权:允许购买者按一特定的基价购买一种指定期货合约的权力。预期市价看涨时买看涨期权，如购买者判断失误，可以放弃这一购买权力，风险损失只是购买期权的保险费Call Price 结算价Cancelling Order 撤消指令：撤消前一个指令的指令Carrying 借入借出：LEM 对借入借出的总称，也表示一种导致借入者将其持有的金属现货存入 LEM 注册仓库的借入作业Carrying Charge 仓储费用：持有现货
5、商品期间所支付的保管费、保险费、损耗、利息等Cash 现付，现货：LEM 意为按结算价现货交易成交后第二天的现金交付；其他交易所则常指现货交易Cash :b4We pAON (all or none) AON( 全部的或决不 ) WH2Nujc%Z.DOrder type: At order entry, if it can execute in total, then it executes. Otherwise it stays in the order book until it can execute in total.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
6、则它会寄存在买卖盘记录一直到它能够完全执行。 E#S -x)zL trade is submitted as of the original trade date.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。 Ask 沽出价 0uejCp!OAverage Price Call 平均价买入期权 V C,QSQA type of option where the payoff is either zero or the amount by which the average price of the asset exceeds the strike.是一种零盈利的期权或者是资产的平均价
7、格超过执行价的期权。 0G#mM UnYBack months 远期月 The futures or options on futures months being traded that are furthest from expiration. Also called deferred or distant months.期货或期权的交易月离有效期最远的月份。 V:a5? np/w.gw$X;-u.h8YX Q,H1ZBar chart 条形图 A graph of prices, volume and open interest for a specified time period u
8、sed by the chartist to forecast market trends. A daily bar chart plots each trading sessions high, low and settlement prices.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。 ? -R st fBasis 基差 The difference between the spot or cash price of a commodity and the futures price of the same or
9、a related commodity. Basis is usually computed to the near future, and may represent different time periods, product forms, qualities and locations. 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。 Basis contract 基差合约 $J)Uv“AA forward contract in which the cash price is based on th
10、e basis relating to a specified futures contract.现价建立在与特定的期货合约的基差基础上的远期合同。 lD 0NfBy bBear 熊市 ( 跌市 ) )P#h+cn8M,t NROne who believes prices will move lower.一个人相信价格趋势将会不断下跌。 (W4T( nA BJ;Gg y _5f6n1P|Bear call spread 熊市购进认购期权跨价组合 The purchase of a call with a high strike price against the sale of a call
11、 with a lower strike price. The maximum profit receivable is the net premium received (premium received - premium paid), while the maximum loss is calculated by subtracting the net. 8f( y,El在高执行价买进一个认购期权同时在低执行价卖出一个认购期权，能够得到的最大获利是净期权价，而最大的损失是要减去净期权价。 )hz:tf9|n6C or6dBear market (bear/bearish) 熊市 ( 熊市
12、 / 看空 ) A market in which prices are declining.一个价格趋势正在下滑的市场。 Bearish key reversal 熊市重要反转 HsQ5A,SQ0tA bar chart formation that occurs in an uptrending market when the days high is higher, low is lower and close is below the previous days. Can signal an upcoming downtrend.b om(H ONB一种图表形势，出现在上涨的市场中，这
13、一天的高价比以前高，低价比以前低，收市价也比以前低。 能够预示下跌趋势。 Beta 贝塔系数 A measure correlating stock price movement to the movement of an index. Beta is used to determine the number of contracts required to hedge with stock index futures or futures options. “p“u,Wf -T,p%r把股票价格的运动联系到指数运动的一种衡量方法。贝塔用来决定用股指期货或期货期权套利保值所需的合约量。 q9E
14、H D$uBid 买价 The price that the market participants are willing to pay.市场参与者是愿意支付的价格。 Bid (or buy) 买 ( 或买 ) An offer to buy a specific quantity of a commodity at a stated price. The price that the market participants are willing to pay.7CL!z+S+V8l+u sF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。 Black Scholes Mode
15、l 布莱克斯格尔模式 A model used to calculate the value of a European call option. Developed in 1973 by Fisher Black and Myron Scholes, it utilizes the stock. 3gG*Lq|7IlfCgD用来计算欧式买入期权的模式。在 1973 由 Fisher Black 和 Myron Scholes 发展的，它运用股票计算。 87sma!x O TBlowoff volume 倾销量 An extraordinarily high volume trading se
16、ssion occurring suddenly in an uptrend signaling the end of the trend.H39ge,z -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。 A;I2L+l-N6t5k u%lBoard of Trade 交易委员会 :fZn.P7yY w,UAn exchange where commodity futures and/or futures options are traded. “FS(am+一个商品期货和 / 或者是期货期权买卖的交易场所。 Bond 债券 _8JuV“%i |eInstrument tr
17、aded on the cash market-representing a debt of the government or of a company.Bd3A:Z3NIrDg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。 ?t t $qK g x4wH+uBox Spread 盒式套利 A dual option position involving a bull and bear spread with identical expiry dates. This investment strategy provides for minimal risk. Additionally,
18、 it can lead to an arbitrage position as an investor attempts to lock in a small return at expiry.“plY r“b4s:q一种期权策略，这种策略可以借具有相同有效期的看跌期权或者看涨期权得以贯彻。可以将风险最小化。同时，当投资者打算锁定到期时的最小收益时，可以产生套利机会。 qn-s86p$IBreak 突破 A sudden price move; prices may beak up or down.一次突然的价格变动 ; 价格可能上升或下降。 3j%F6N !e1,LY2ZA nBreaka
19、way gap 突破缺口 3I T UD3cA gap in prices that signals the end of a price pattern and the beginning of an important market move.;Mwg Kg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。 Df)M QU.T9G r)I ivBreakeven 平衡点（收支相抵） The point at which an option buyer or seller experiences no loss and no profit on an option. Call
20、 breakeven equals the strike price plus the premium. Put breakeven equals the strike price minus the premium.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。 qlE m ?Pvx)G)s.NBrokerage 佣金 The fee charged by a broker for execution of a transaction. May be a flat amount or a percentage; usua
21、lly referred to as a commission.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。 sjB*“T P-TBrokerage house 经纪行 A firm that handles orders to buy and sell futures and options contracts for customers.nFrF ex I1c一个为客户处理期货和期权买卖合约订单的公司。 Bulge 暴涨 / _u1a+L“N_-_A slang term used to describe a rapid advance in prices
22、within the commodities market.是用来描绘一个在商品市场内快速升高的价格。 .(m-aQ/Oab 7f-u8_b4sy9GXm6Bull 牛市 ( 买空 ) Jr0lOne who expects prices to rise.预期价格会上升 %?*r_S7fu5X1YBull market 牛市、多头市场 K V,Y?Wy#a The simultaneous sale or purchase of one each of a series of consecutive futures contracts. Bundles provide a readily av
23、ailable, widely accepted method for executing multiple futures contracts with a single transaction.6m?O%x V5lN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。 ?5u7AJ.oBuoyant 市场活跃 The term used to describe a commodities market where the prices generally rise with ease when there are considerable
24、signals of strength.RUWl thL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。 X*?5_S6Qfh i-qa yi -|Bear 熊市 ( 跌市 ) A.f Qx(LkOne who believes prices will move lower.0O)rkI z-?d6gg一个人相信价格趋势将会不断下跌。 . n,S!w)N Bear call spread 熊市购进认购期权跨价组合 The purchase of a call with a high strike price against the sale of a call with a lower
25、strike price. The maximum profit receivable is the net premium received (premium received - premium paid), while the maximum loss is calculated by subtracting the net. 5d.Oi在高执行价买进一个认购期权同时在低执行价卖出一个认购期权，能够得到的最大获利是净期权价，而最大的损失是要减去净期权价。 hrZf,d/qF9 HBear market (bear/bearish) 熊市 ( 熊市 / 看空 ) v0-q -WwH%LA
26、market in which prices are declining./q03h#B2D9V一个价格趋势正在下滑的市场。 H G)f z(b!U!hBearish key reversal 熊市重要反转 A bar chart formation that occurs in an uptrending market when the days high is higher, low is lower and close is below the previous days. Can signal an upcoming downtrend.*F)hd(mA-R _2SU/B1Board
27、of Trade 交易委员会 ETaT,SAn exchange where commodity futures and/or futures options are traded. 一个商品期货和 / 或者是期货期权买卖的交易场所。 5AN*M6An#J NBond 债券 Instrument traded on the cash market-representing a debt of the government or of a company.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。 J+bF ?8Y R(bR hy ogBox Spread 盒式套利 A dual op
28、tion position involving a bull and bear spread with identical expiry dates. This investment strategy provides for minimal risk. Additionally, it can lead to an arbitrage position as an investor attempts to lock in a small return at expiry.*m,h4)| prices may beak up or down.一次突然的价格变动 ; 价格可能上升或下降。 2y-
29、r YR$e$b | -b+m!eBreakaway gap 突破缺口 A gap in prices that signals the end of a price pattern and the beginning of an important market move.eJ%gm+DhY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。 r -a,o9K/Pn V Hq-RdBreakeven 平衡点（收支相抵） -L(q0 I:bItThe point at which an option buyer or seller experiences no loss and no profit on an option. Call breakeven equals the strike price plus the premium. Put breakeven equals the strike price minus the premium.aP|d R:kr usually referred to as a commission.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。 h3R I#K
