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FinancialMarketsFinancialmarket金融市场:Afinancialmarketisamarketinwhichpeopleandentitiescantradefinancialsecurities,commoditiesandotherfungibleitemsofvalueatlowtransactioncostsandatpricesthatreflectssupplyanddemand.Internationalfinancialmarket国际金融市场:Afinancialmarketthatinvolvesparticipantsallovertheworld.(查不到自己编的，请慎重考虑)Directfinancing直接融资:Aninvestorpurchasesthesecuritiesissuedbyultimateborrowers(i.e.withoutintermediaries).Indirectfinancing间接融资:Indirectfinancingiswhereborrowersborrowfundsfromthefinancialmarketthroughindirectmeans,suchasthroughafinancialintermediary.Moneymarket货币市场:Moneymarketisacomponentoffinancialmarketforassetsinvolvedinshort-termborrowing,lending,buyingandsellingwithORIGINALmaturitiesofoneyearorless.Capitalmarket资本市场:Capitalmarketprovidesforthebuyingandsellingoflong-term(over1year)debtsorequity-backedsecurities.Foreignexchangemarket(orcurrencymarket)外汇市场:Foreignexchangemarketdealswiththeexchangesofdifferentmeansofpayment.Primarymarket一级市场:Aprimarymarketisamarketinwhichnewissuesofasecurity(likeabondorastock),aresoldtoinitialbuyersbythecorporationorgovernmentagencyborrowingthefunds.Secondarymarket二级市场:Asecondarymarketiswhereiswherethesaleofpreviouslyissuedsecuritiestakesplace.Exchangemarket交易所市场:Itisahighlyorganizedmarketwheretradablesecurities,commodities,foreignexchanges,futuresandoptioncontractsaresoldandbought.OTCmarket柜台市场:over-the-countermarket.Adecentralizedmarketofsecuritiesnotlistedonanexchangewheremarketparticipantstradeoverthetelephone,facsimileorelectronicnetworkinsteadofaphysicaltradingfloor.Technicalanalysis技术分析:Itistheartofdeducingprobablefuturetrendfromhistoricalrecordsofstocktrading.(thestudyofthestockmarketitselfratherthanexternalfactors)Fundamentalanalysis基本面分析或基础分析:Itexaminesallrelevantfactorsaffectingthestockpriceinordertodetermineanintrinsicvalueforthatstock.Thetop-downapproachorEconomy-Industry-Company(EIC)model自上而下法:1)selectacountrywhichcouldoffertheinvestorsbetterreturnsfromothereconomies;2)selectpromisingindustriesandcompaniesinthiscountry.Thebottom-uporstockpickingapproach自下而上法:Itistofindundervaluedstocksregardlessofthemarketandindustryfactors.CapitalMarketBond债券:Bondsaresecuritiesthatrepresentadebtowedbytheissuertotheinvestor.Theyobligatetheissuertopayaspecifiedamountatagivendate.Governmentnotesandbonds(Treasurybonds)国库券:Theyareissuedtofinancethenationaldebt.Difference:noteshaveaoriginalmaturityof1yearto10yearswhilebondshaveaoriginalmaturityof10-30years.Notethattheyarefreeofdefaultrisk.Corporatebonds公司债券:Largecorporationsissuebondsinordertoborrowfundsforlongperiodsoftime.Thebondindentureisacontractthatstatesthelender’srightsandprivilegesandthetheborrower’sobligations.Stock股票:Sharesofstockinthefirmrepresentownership.Outstandingstock流通股:Thesharesofacorporation’sstockthathavebeenissuedandareinthehandsofthepublic.Mortgageloan抵押贷款:Amortgageloanisaloansecuredbyrealproperty.ForeignExchangeMarketExchangerate汇率:Theratiooftwodifferentcurrencies.Billsofexchange票据:Theyarefinancialdocumentsthatrequiretheindividualorbusinessthatisaddressedinthedocumenttopayaspecifiedamountofmoneyonadatethatiscitedinthedocument.Demanddraft即期汇票:Itisacheckcreatedbyamerchantwithabuyer’scheckingaccountnumberonit,butwithoutthebuyer’soriginalsignature.Bankersdraft银行汇票:Itisacheckwherethefundsaretakendirectlyfromfinancialinstitutionsratherthantheindividualdrawer’saccount.Foreignbond外国债务:Abondissuedinadomesticmarketbyaforeignentity,inthedomesticmarket’scurrency.Dividendcheck股利支票:Ashareofprofitsintheformofchecksreceivedbyastockholder.（查不到自己编的，请慎重考虑）Pensioncheck养老金支票:Asumofmoneyintheformofcheckspaidregularlyasaretirementbenefitorbywayofpatronage.(查不到自己编的，请慎重考虑。另外，pension没有年金的意思，年金是annuity)Travelers’check旅行支票:Itisapreprinted,fixed-amountcheckdesignedtoallowthepersonsigningittomakeanunconditionalpaymenttosomeoneelseasaresultofhavingpaidtheissuerforthatprivilege.Directquotationmethod直接报价法:Theratesarequotedintermsofvariablenumberofhomecurrencyperfixedforeigncurrencyunit.Indirectquotationmethod间接报价法:Theratesarequotedintermsofvariablenumberofforeigncurrencyperfixedhomecurrencyunit.Convertiblecurrency自由兑换货币:Theholderofaconvertiblecurrencycanchangeitfreelyintoanothercurrency.Spotrate即期汇率:Thepricethatisquotedforimmediatesettlementonacommodity,asecurityoracurrency.Forwardrate远期汇率:Arateapplicabletoafinancialtransactionthatwilltakeplaceinthefuture.Crossrate交叉汇率:Theexchangeratebetweentwocurrenciesexpressedastheratiooftwoforeignexchangeratesthatarebothexpressedintermsofathirdcurrency.FinancialInstrumentsFinancialinstruments金融工具:Afinancialinstrumentisatradableassetofanykind;eithercash,evidenceofanownershipinterestinanentity,oracontractualrighttoreceiveordelivercashoranotherfinancialinstrument.Debtinstruments债务工具:Theyarecontractualagreementsbytheborrowertopaytheholderoftheinstrumentsfixedamountatregularintervalsuntilthematuritydate.Equities权益工具:Theyareclaimtoshareinthenetincomeandassetsofabusiness.Cashinstruments直接金融工具:Cashinstrumentsarefinancialinstrumentswhosevalueisdetermineddirectlybythemarkets.Derivativeinstruments衍生工具