國外期貨海外期貨專有名詞 中翻英 英翻中 海期新手教學必看!

國外期貨海外期貨專有名詞 中翻英 英翻中 海期新手教學必看!

海外期貨中文英文詞彙

高價

一特定期貨合同在一特定時間範圍內的最高價格 

High

The highest price for a particular futures contract over a specified time period.

 

飼養收益率

指飼養成本與家畜以美元表示的價值之間的比率。例如豬/玉米飼養率和牛/玉米飼養率 

Feed Ratio

A ratio used to express the relationship of feeding costs to the dollar value of livestock. See Hog/Corn Ratio and Steer/Corn Ratio.

 

風險管理

在投資或業務規劃過程中識察,分析,減輕或吸納價格風險。

Risk Management

Identifying, analyzing and either mitigating or absorbing the price risk in investing or business planning.

 

 

領先指標

為未來幾個月的經濟狀況做指示的市場指標一些領先指標包括:製造業的平均工作日,失業保險的初期索賠,消費者貨物和原材料的委託單,公司百分率。 

Leading Indicators

Market indicators that signal the state of the economy for the coming months. Some of the leading indicators include: average manufacturing workweek, initial claims for unemployment insurance, orders for consumer goods and material, percentage of companies.

 

 

隱藏交易額

訂單種類:表明總數量將不會顯示在市場中,只有每個增加的數量才會被顯示。總數量與顯示量之間的區別數量將被隱藏。 

Hidden quantity

Order qualifier: indicates that the total quantity will not be displayed to the market, but only per increments as indicated. Difference between order quantity and displayed quantity is hidden.

 

 

限價委託單

通常與價格相等。在這種委託單中,有客戶設定價格或者其他情況的限制,與之相對的市價委託單則是委託單應盡快成交。

Limit order

Usually equivalent to "price." An order in which the customer sets a limit on price or other condition, as contrasted with the trading floor definition of a market order, which implies that the order should be filled as soon as possible.

 

 

限價

按照交易所規定的,在一個交易中比前一天的成交價格上升或下跌的最大值 

Limit

The maximum price advance or decline from the previous day's settlement price permitted in one trading session, as determined by the Exchange.

 

 

阻力線

在賣出的壓力下價格會達到的一個水平而停止上升。 

Resistance line

A price level above which prices tend not to rise due to selling pressure.

 

 

金融期貨

一種期貨合約,其價值根據股指,利率或外幣匯率等金融工具確定。

Financial Futures

A future contract whose value is based upon financial instruments such as a stock index, interest rates or foreign currency exchange rates.

 

 

金融商品

有兩種類型:(1)債務工具,協議在還款時支付利息的貸款(2)資產證券,公司的股份或股權 

Financial Instrument

There are two basic types: (1) a debt instrument, which is a loan with an agreement to pay back funds with interest; (2) an equity security, which is a share or stock in a company.

 

 

通知日

根據芝加哥交易所的規定,清算所對照最原始買方交割給賣方進倉的報告,在三日交割過程中的第二天,通知買賣雙方 

Notice Day

According to Chicago Board of Trade rules, the second day of the three-day delivery process when the clearing corporation matches the buyer with the oldest reported long position to the delivering seller and notifies both parties.

 

 

透明度

了解公開市場的活躍程度和財務信息的渠道數量。

Transparency

The amount of access a market openly offers about its activities and financial information.

 

 

逆轉市場

期貨市場中,同一商品的兩個交割月份的關係出現反常 

Inverted Market

A futures market in which the relationship between two delivery months of the same commodity is abnormal.

 

 

逃逸缺口

一個價格趨勢開始後價格的一個缺口,標誌著價格運動的中途階段。

Runaway gap

A gap in prices after a trend has begun that signals the halfway point of a market move.

 

 

追繳保證金,補倉

清算公司發給清算成員或是經紀公司發給客戶的要求,要求將剩餘的保證金加至要求的最低標準 

Margin Call

A call from a clearinghouse to a clearing member, or from a brokerage firm to a customer, to bring margin deposits up to a required minimum level.

 

 

遠期月

期貨或期權的交易月離有效期最遠的月份。 

Back months

The futures or s on futures months being traded that are furthest from expiration. Also called deferred or distant months.

 

 

過戶

給清算系統中另一成員的指令,由清算公司A執行,然後交給清算公司B清算和處理 

Give up

An order to be given to another member firm in clearing system, an allocation. An order executed by clearing firm A and given to clearing firm B where it will be cleared and processed.

 

 

轉手買賣所賺薄利

為很小的利益交易。交易通常是快速地建倉和平倉,通常是在同一天進行,甚至是在幾小時或幾分鐘之內。 

Scalp

To trade for small gains. Scalping normally involves establishing and liquidating a position quickly, usually within the same day, hour or even just a few minutes.

 

 

貝塔係數

把股票價格的運動聯繫到指數運動的一種衡量方法。貝塔用來決定用股指期貨或期貨期權套利保值所需的合約量。

Beta

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.

 

 

調整後的期貨價格

等同的現金價格反映在現在的期貨價格上。計算是通過用期貨的價格乘以被交割的特定金融商品的轉換係數。(例如,債券或票據)

Adjusted Futures Price

The cash-price equivalent reflected in the current futures price. This is calculated by taking the futures price times the conversion factor for the particular financial instrument (e.g., bond or note) being delivered.

 

 

衍生工具

一種金融工具,例如期貨或期權合約,其價值根據實物商品或其它金融工具確定。

Derivative

A financial instrument, such as a futures or options contract, whose value is based upon a physical commodity or other financial instruments.

 

 

英擔

100磅,簡寫cwt

Hundredweight

100 pounds. Abbreviated cwt.

 

 

自由經紀人

為自己和(或)為其他客戶完成委託單的交易所成員,他們的行為為市場提供了流動性 

Locals

Exchange members who trade for their own account and/or fill orders for customers and whose activities provide market liquidity.

 

 

背馳

於近期的價格變化趨勢相反的運動方向。

Retracement

A price move in the opposite direction of a recent trend.

 

 

股票指數

衡量一組股票(又稱股份)的尺度,用於描述市場行情和分析特定股票投資的回報。

Equity Index

A measure of a group of stocks, also called equities, used to describe the market and analyze the return on specific stock investment.

 

 

聯邦基金利率

指使用聯邦基金付出的利息率

Federal Funds Rate

The rate of interest charged for the use of federal funds.

 

 

美國短期國債

原始有效期在一年以下的短期美國政府債券。這債倦是以折扣價出售,折扣是到期時獲得的面值與支付的價格的差價。 

U.S. Treasury Bill

A short-term U.S. government debt instrument with an original maturity of one year or less. Bills are sold at a discount from par with the interest earned being the difference between the face value received at maturity and the price paid.

 

 

美國中期國債

原始有效期從一年到十年並帶有息票的政府債券。

U.S. Treasury Note

Government-debt security with a coupon and original maturity of one to 10 years.

 

 

缺口

市場交易價格由一天到另一天不是連續變化的的價格區域

Gap

A price area at which the market didn't trade from one day to the next.

 

 

結算押金

是一種對他們的客戶所開的期貨和期權合約收取的保證金,確保結算會員(通常是公司或企業)的一種經濟擔保。 

Clearing margin

Financial safeguards to ensure that clearing members (usually companies or corporations) perform on their customers' open futures and options contracts.

 

 

結算幅度

由交易所規定的收市時的高價和低價或者是開價和還價。(最後外匯交易的最後60秒買賣和其它合約的交易30秒)。 

Closing range

The high and low prices or bids and offers recorded during the period designated by the Exchange as the official close (the final 60 seconds of trading in currencies and 30 seconds in all other contracts).

 

 

結算價

一個由收市價格範圍所決定的價格,用來計算在期貨市場的賬目獲利和損失,為了交割而進行催養欠款和單據價格。見“收市價格範圍”。

Settlement price

A figure determined by the closing range that is used to calculate gains and losses in futures market accounts, performance bond calls and invoice prices for deliveries. See "closing range."

 

 

結算交易

買賣雙方每一筆交易產生兩個清算交易,一個是買主的另一個是賣主的。 

Clearing trade transaction

Each matched trade between a buyer and a seller generates two clearing trade transactions: one for the buyer and one for the seller.

 

 

經紀行

一個為客戶處理期貨和期權買賣合約訂單的公司。 

Brokerage house

A firm that handles orders to buy and sell futures and options contracts for customers.

 

 

組合看跌期權

賣出期貨合同和買進看漲期權的組合,叫做組合買入看跌期權。同時,買進期貨合同和賣出一個看漲期權的組合,叫做組合賣出看跌期權。

Synthetic put option

A combination of a short futures contract and a long call, called a synthetic long put. Also, a combination of a long futures contract and a short call, called a synthetic short put.

 

 

組合看漲期權

由買入一個期貨合同和買入一個看跌期權的組合,就叫做組合買入看漲。同時,由賣出一個期貨合同和賣出一個看跌期權的組合,叫做組合賣出看漲。 

Synthetic call option

A combination of a long futures contract and a long put, called a synthetic long call. Also, a combination of a short futures contract and a short put, called a synthetic short call.

 

 

組合期貨

由兩個有相同的行使價的看跌和看漲期權形成的組合,同時二者都看漲,叫做組合買入期貨。由兩個有相同行使價的看跌和看漲期權形成的組合,同時二者都看跌,叫做組合賣出期貨。 

Synthetic futures

A combination of a put and a call with the same strike price, in which both are bullish, called synthetic long futures. Also, a combination of a put and a call with the same strike price, in which both are bearish, called synthetic short futures.

 

 

組合期權

一種一個期貨合同和一個期權的組合,其中一個看漲一個看跌。 

Synthetic option

A combination of a futures contract and an option, in which one is bullish and one is bearish.

 

 

管理期貨

是指由專業的資金管理者即商品交易顧問管理客戶資金組成的,運用國際期貨市場作為投資媒介的行業 

Managed Futures

Represents an industry comprised of professional money managers known as commodity trading advisors who manage client assets on a discretionary basis, using global futures markets as an investment medium.

 

 

算法

一種預先編程的自動規則集,可用於執行電子交易。

Algorithm

An automated, pre-programmed set of rules that can be used to execute an electronic trade.

 

 

第一通知日

清算所通知買方指定月份的期貨合同可以交貨的第一天 

First Notice Day

The first day that a notice of intent to deliver a commodity can be made by a clearinghouse to a buyer in fulfillment of a given month's futures contract.

 

 

竭盡缺口

接近價格的高峰或低谷時出現價格缺口,預示著行情將要逆轉。 

Exhaustion gap

A gap in prices near the top or bottom of a price move that signals an abrupt turn in the market.

 

 

突破缺口

價格的一個缺口,表示一個價格趨勢的結束和一個重要的市場運動的開始。 

Breakaway gap

A gap in prices that signals the end of a price pattern and the beginning of an important market move.

 

 

看跌期權與看漲期權

看跌期權與看漲期權為獨立的期權合約,並非同一交易裡的交易對方。每一看跌期權買方都有一個對應的看跌期權賣方,而每一看看漲期權買方都有一個對應的看漲期權賣方。

Puts and Calls

Puts and calls are separate option contracts; they are not the opposite side of the same transaction. For every put buyer there is a put seller, and for every call buyer there is a call seller. The option buyer pays a premium to the seller in every transaction.

 

 

看跌期權

看跌期權持有人有權在到期日當日或之前按特定價格賣出(做空)期貨合約。舉例,一份8月份CME活牛124看跌期權的持有人有權以1.24美元/磅的價格賣出8月CME活牛期貨。即使該期貨下跌至1.14美元/磅,看跌期權持有人仍有按1.24美元/磅的價格做空合約的權利。

Put Option

A holder of a put option has the right to sell (go short) a futures contract at a specific price on or before the expiration date. For example, an October 124 CME Live Cattle put gives the put holder the right to sell October CME Live Cattle futures at $1.24/lb. Should the futures decline to $1.14/lb., the put holder still retains the right to go short the contract at $1.24/lb.

 

 

看漲期權

看漲期權持有人(買方)有權在到期日當日或之前按特定價格買入(做多)期貨合約。舉例,一份12月份玉米820看漲期權的持有人(買方)有權在購買期權至12月期權到期這段期間的任何時候以820(8.20美元/蒲式耳的速記)的價格買入或做多12月玉米期貨合約。即使玉米期貨價格上漲大幅超過8.20 /蒲式耳,看漲期權持有人有有權以8.20 /蒲式耳的價格買入玉米期貨。

Call Option

A call option gives the holder (buyer) the right to buy (go long) a futures contract at a specific price on or before an expiration date. For example, a December Corn 820 call option gives the holder (buyer) the right to buy or go long a December corn futures contract at a price of 820 (shorthand for $8.20/bu) anytime between purchase and the December options expiration. Even if corn futures rise substantially above 8.20/bu, the call holder will still have the right to buy corn futures at 8.20/bu.

 

 

目標價格

一個期望的賣出或買入的價格。對於使用買賣期貨來避險的是指期貨價格加上預期基點。對於賣出期權是指期貨價格減去期權金再加上預期的基點。對於買入期權是指期貨價格加上期權金再加上預期基點。 

Target price

An expected selling or buying price. For long and short hedges with futures: futures price + expected basis. For puts: futures price - premium + expected basis. For calls: futures price + premium + expected basis.

 

 

電子交易

用於執行交易的計算機化流程和平台,包括落盤,買賣盤發布和交易執行。

Electronic Trading

The computerized processes and platforms that carry out a trade, including order placement, bid-and-offer posting and trade execution.

 

 

現金交割

在合約月的一個最後交易日最終的斬倉,在沒有實際貨物交割的市場中發生。 

Cash settlement

Final disposition of open positions on the last trading day of a contract month. Occurs in markets where there is no actual delivery.

 

現貨月

最近的交易月份,可以是也可以不是當月。通常指現貨可以進行交易的月份。 

Spot month

The nearest trading month which may or may not be the current calendar month. Usually used as the current delivery month for a commodity.

 

現貨價

實際的現貨商品的目前市場價格,也叫“現貨價”。 

Cash price

Current market price of the actual physical commodity. Also called "spot price."

 

 

現貨

現貨(報表)亦稱實物(體檢)商品,指某人購買或銷售,例如,大豆,玉米,黃金,白銀,聯邦債券等

Actuals

An actual physical commodity someone is buying or selling, e.g., soybeans, corn, gold, silver, Treasury bonds, etc.

 

現價

通常指一個可以立即進行交易的貨物的市場價格。 

Spot

Usually refers to a cash market price for a physical commodity that is available for immediate delivery.

 

 

熊市

一個價格趨勢正在下滑的市場。 

Bear market (bear/bearish)

A market in which prices are declining.

 

 

點形圖

一個用x的表示價格上漲用o表示價格下降的圖表,分析師用作分析買和賣。

Point and Figure Chart

A graph of prices charted with x's for price increases and o's for price decreases, used by the chartist for buy and sell signals.

 

 

滯後指標

市場指標顯示總體經濟發展方向和確認或否認主導指標在市場發展趨勢的應用,也叫做協作指標 

Lagging Indicators

Market indicators showing the general direction of the economy and confirming or denying the trend implied by the leading indicators. Also referred to as concurrent indicators.

 

 

清算所

清算成員或公司 

House

Clearing member or a firm.

 

 

清算

是清算行買賣期貨合約的過程,通過確保每個合同來承擔保護買賣者不受經濟損失的責任。 

Clearing

The procedure through which the Clearing House becomes buyer to each seller of a futures contract, and seller to each buyer, and assumes responsibility for protecting buyers and sellers from financial loss by assuring performance on each contract.

 

 

流動性

證券市場或商品市場有足夠成員允許大量交易發生並且不會引起價格實質性變化的特性 

Liquid

A characteristic of a security or commodity market with enough units outstanding to allow large transactions without a substantial change in price.

 

 

註冊代理人

證券經紀公司或期貨經紀商僱用或諮詢的人。 

Registered representative

A person employed by, and soliciting business for, a commission house or futures commission merchant.

 

 

波幅

在一定時期內紀錄的高價與低價和高與低的出價和要價。

Range

The high and low prices or high and low bids and offers recorded during a specified time.

 

 

波動

衡量特定時間內的價格波動。

Volatile

A measurement of the change in price over a given time period.

 

 

沽出價

經常被稱為“出價”它是一個出售的意思。指的是在指定的價格下願意出售期貨合約。

Ask Price

Also called "offer." A motion to sell. Indicates a willingness to sell a futures contract at a given price.

 

 

匯率

一國貨幣換算為外國貨幣的價格。

Foreign Exchange Rate

The price of a country's currency when converted from another country's currency.

 

 

止損

訂單類型:與停止限價相同,但是沒有限定指數:當達到指定價格,就會被執行,像MBF一樣。 

Stop loss

Order type: Same as stop limit, but with no limit indication: when triggered, will execute like an MBF.

 

 

標的期貨合約

標的物(底層)為期權行權時買入或賣出的相應期貨合約。舉例來說,1份8月份CME活牛期貨合約的期權為買入或賣出1份該等期貨合約的權利;而1份9月份小麥期貨合約的期權授予買入或賣出1份9月小麥期貨合約的權利。

Underlying Futures Contract

The underlying is the corresponding futures contract that is purchased or sold upon the exercise of the option. For example, an option on an August CME Live Cattle futures contract is the right to buy or sell one such contract. An option on September Wheat futures gives the right to buy or sell one September Wheat futures contract.

 

 

條形圖

由製表人用特定時期的價格,交易量,未平倉權益組成的圖表來預測市場趨勢。日條形圖描繪了交易日的最高價,最低價和交易價。

Bar chart

A graph of prices, volume and open interest for a specified time period used by the chartist to forecast market trends. A daily bar chart plots each trading session's high, low and settlement prices.

 

 

槓桿作用

利用少量資產來控制大量資產

Leverage

The use of a small amount of assets to control a greater amount of assets.

 

 

機構交易者

受僱代表實體進行交易的人士或實體,包括金融機構,投資銀行,退休基金,對沖基金和共同基金。

Institutional Trader

A person or entity employed to trade on behalf of entities, including institutions, investment banks, pension funds, hedge funds and mutual funds.

 

 

未成交單

一直有效直到成交或被取消的委託單。 

Open order

An order that remains good until filled, cancelled or eliminated. See good-til-canceled.

 

 

未平倉合約

期貨合同中未沖銷的期貨或期權的總數 

Open interest

Total number of futures or options on futures contracts that have not yet been offset or fulfilled for delivery.

 

 

期貨執行價格

期權買家在交割時買賣指定期貨合同的價格。 

Strike (price)

The price at which the option buyer may purchase or sell the underlying futures contract upon exercise.

 

 

期貨合同

就一期貨交易簽訂的標準化的協議,以在將來的一定日期以特定價格購買或出售某商品,詳細說明商品,品質,數量,交割日期,交割地以及現金種類。 

Futures contract

A standardized agreement traded on a futures exchange, to buy or sell a commodity at a specified price at a date in the future. Specifies the commodity, quality, quantity, delivery date and delivery point or cash settlement.

 

 

期貨交易所

建立了規則和制度的買家和賣家交易期貨和期貨期權的中心場所

Futures Exchange

A central marketplace with established rules and regulations where buyers and sellers meet to trade futures and options on futures contracts.

 

期貨業務員

一般稱為商品經紀人,他是聯繫和提供諮詢給客戶以及在期貨商品市場委任商人或介紹經紀人。這個委託人必須通過三種考試,被CFTC許可並且是NFA的一個成員。 

Associated person (AP)

A person, commonly called a commodity broker, associated with and soliciting customers and orders for a futures commission merchant or introducing broker. The AP must pass a Series 3 examination, be licensed by the CFTC and be a member of the NFA.

 

 

期貨

指的是在商品期貨交易所中為了將來交割出售和購買金融商品和商品而訂立的合同 

Futures

A term used to designate all contracts covering the purchase and sale of financial instruments or physical commodities for future delivery on a commodity futures exchange.

 

 

期權金

買家和賣家之間統一的買賣期權期貨合同的價格 - 買家支付給賣家。相對於期貨合同價值或其他市價,額外付出的價格。 

Premium

The amount agreed upon between the buyer and seller for the purchase or sale of a futures option –the buyer pays the premium and the seller receives the premium. The excess of one futures contract price over that of another or over the cash market price.

 

 

期權費

期權費(premium)指期權買方/賣方為期權所帶權利支付/收取的價格。因此,最終的期權費用是由市場供需來決定。各種不同因素會影響期權費,包括與期貨價格水平相關的行使價水平,距離到期的剩餘時間以及市場波動性。所有這些因素將會有進一步的討論。

Premium

The premium is the price that the buyer of an option pays and the seller of an option receives for the rights conveyed by an option. Thus, ultimately the cost of an option is determined by supply and demand. Various factors affect options premiums, including strike price level in relation to the futures price level; time remaining to expiration; and market volatility —all of which will be discussed further.

 

 

期權賣方

期權賣方(即賣出本身未持有的期權的交易者),也稱作期權發行者(作家)或授予人(grantor)。當期權買方行使其買入/賣出的期權合約裡規定的期貨頭寸的權利時,期權賣方在合約上有義務接受與期權買方建立相反的期貨頭寸。期權賣方收取期權費,因此承擔持有可能不利於自己的期貨頭寸的風險。

Option Seller

An option seller (i.e., someone who sells an option that he or she did not previously own) is also called an option writer or grantor. An option seller is contractually obligated to take the opposite futures position if the buyer exercises his or her right to the futures position specified in the option the buyer has purchased. In return for the premium, the seller assumes the risk of taking a possibly adverse futures position.

 

 

期權買方

期權買方可選擇行使其權利來建立標的期貨的頭寸。看漲期權買方可行使權利來買入標的期貨,而看跌期權買方則可行使權利來賣出標的期貨合約。不過在多數情況當中,期權買方不會行使期權,而會在到期之前在市場上進行沖銷(若期權還有任何價值)。

Option Buyer

An option buyer can choose to exercise his or her right and take a position in the underlying futures. A call buyer can exercise the right to buy the underlying futures and a put buyer can exercise the right to sell the underlying futures contract. In most cases though, option buyers do not exercise their options, but instead offset them in the market before expiration, if the options have any value.

 

期權

期貨合約期權是在特定到期日當日或之前以特定價格買入或賣出特定期貨合約的權利,而非義務期權有兩種類型:。看漲期權和看跌期權兩種期權實際上在不持有期貨頭寸的情況下利用期貨價格變動而獲利的機會。

選項

Option

An option on a futures contract is the right, but not the obligation, to buy or sell a particular futures contract at a specific price on or before a certain expiration date. There are two types of options: call options and put options. Each offers an opportunity to take advantage of futures price moves without actually having a futures position.

 

最近合約月

期貨或期權交易執行的最近的月份,也寫做鉛月 

Nearby

The nearest active trading month of a futures or options on futures contract. Also referred to as the lead month.

 

 

最近合約月

交割可能發生的最近的月份,合約月份最接近現在的時間點 

Lead month

The most current contract month in which delivery may take place. The contract month closest to the current point in time.

 

 

最小跳動點

每個合約單位的最小價格波幅。又稱為最小變動價位或點值。

Minimum Tick

Minimum price fluctuation per contract unit. Also known as tick size or tick value.

 

 

最小價格波幅

在一特定合同交易中可能最小的價格波動增量,通常被稱為tick,商品價格最小的波動是由交易所規定的 

Minimum price fluctuation

The smallest increment of price movement possible in trading a given contract, often referred to as a tick. The minimum unit by which the price of a commodity can fluctuate, as established by the Exchange.

 

最大價格波幅

按照交易所的規定,在一場交易中合約價格可以上下波動的最大值  

Maximum price fluctuation

The maximum amount the contract price can change up or down during one trading session, as stipulated by Exchange rules.

 

 

最低價

在一段特定時間一特定期貨合同的最低價

Low

The lowest price of a specified time period for a particular futures contract.

 

 

時間價值衰減

正如之前所討論的,期權超出內在價值以外的價值被稱作時間價值。時間價值為期權交易者在期權價值有增長可能性的前提下願意支付的款額。時間價值隨著一天天的過去逐漸喪失,並且在到期日靠近時加快喪失率。期權的這個特性被稱作時間衰減,而這也是期權為何有時被任作“遞耗資產(浪費資產)”的原因所在。如果時間流逝,而標的期貨合約在到期之前的價格變化不足,期權的時間價值將隨之衰減,期權交易者可能會發生損失。

Time Value Decay

As discussed in the previous section, the value of an option beyond intrinsic value is called time value. It is the sum of money option traders are willing to pay given the likelihood of the option increasing in value. Time value erodes as each day passes, accelerating as expiration nears. This characteristic of options is referred to as time-decay and is the reason why options are sometimes considered “wasting assets.” If time passes and the underlying futures contract does not move far enough by expiration, the option’s time value will decay and the option trader may incur a loss.

 

 

時間價值

期權的期權金高於其內在價值的部分。通常與距離到期日的時間有關。 

Time Value

The amount by which an option's premium exceeds the intrinsic value of the option. Usually relative to the time left to expiration.

 

 

日交易限制

由交易所制定的在一天交易部分允許上下浮動的最大價格。只存在於特定合約中。 

Daily trading limits

The maximum price fluctuations permitted a contract during one trading session as set by the Exchange. These exist on certain contracts.

 

 

整合

指的是期貨合約接近到期日時,現貨和期貨價趨於一致(例如,基差接近零)。 

Convergence

A term referring to cash and futures prices tending to come together (i.e., the basis approaches zero) as the futures contract nears expiration.

 

 

數量

在交易或定單中,交易的物品單元的數量。有時也叫做'尺寸'。

Quantity

Number of instrument units (e.g. lots) to be traded, in order or a trade. Sometimes also called "size."

 

 

收益率曲線

一個圖表,以收益水平為豎軸,以到期的債務證券為橫軸。當長期利率高於短期利率收益率曲線為正數。

Yield Curve

A chart in which the yield level is plotted on the vertical axis and the term to maturity of debt instruments of similar creditworthiness is plotted on the horizontal axis. The yield curve is positive when long-term rates are higher than short-term rates.

 

 

收益率

一種對投資的年收益的計算方法。 

Yield

A measure of the annual return on an investment.

 

 

支撐線

在圖表中當有足夠的期貨合同的購買量足以阻止價格下跌的一個量。 

Support

The place on a chart where the buying of futures contracts is sufficient to halt a price decline.

 

 

接轉

去年底的商品儲存量。 

Carryover

Last year's ending stocks of a storable commodity.

 

 

指派交割人

指派交割人(assignment)指賣方獲得分配時有義務接收反向部位,即與期權買方相反的期貨頭寸。此頭寸可能不利於賣方,而賣方為承擔該風險收取期權費。請記住:買方可以行權,賣方則會被指派。

Assignment

Assignment refers to the obligation of sellers to take the opposite and possibly adverse futures position to the buyers’ if assigned and for this risk receive the premium. Remember: Buyers exercise and sellers get assigned.

 

 

指數

對於整個市場或某部分市場有代表性的數字,通常依靠一組交易物的現價和這組交易物的重要程度來估算

Index

A number that is representative of a whole market or market segment, usually computed by a sum product of a list of instruments' current prices and a list of weights assigned to these instruments.

 

 

持有者

購買期權的人

Holder

One who purchases an option.

 

 

持倉限額

CFTC(貨物期貨交易委員會)和(或者)進行交易的交易所規定的一個交易者可以持有的投機期貨合同的最大數目。也被稱作交易限額。

Position Limit

The maximum number of speculative futures contracts one can hold as determined by the Commodity Futures Trading Commission and/or the exchange upon which the contract is traded. Also referred to as trading limit.

 

持倉

一種市場承諾。一個期貨合同的買家就擁有一個多頭盤口,而相反的,一個期貨合同的賣家就擁有空頭盤口。

Position

A market commitment. A buyer of a futures contract is said to have a long position and, conversely, a seller of futures contracts is said to have a short position. See "Open Interest"

 

 

報價

每個合約單位的價格。請注意小數點的位置。穀物中'後面的數字為四分之一美分位,例如2 = 0.25,4 = 0.50;在利率中,為1/32的1.5個百分點。

Price Quotation

Price per contract unit. Note placement of decimal. Numeral after ‘ in grains is in quarter-cents, e.g. 2 = 0.25; 4 = 0.50; in interest rates = points & half-points of 1/32.

 

 

投機者

預期價格波動,進行買賣期貨合同從而獲利的人。不是用期貨市場進行生產,交易和處理產品的人。

Speculator

One who attempts to anticipate price changes and, through buying and selling futures contracts, aims to make profits. Does not use the futures market in connection with the production, processing, marketing or handling of a product.

 

 

執行或交易價格

在期權時限內,買方的叫價能夠買進商品,和買方沽出商品的價格。  

Exercise or strike price

The price at which the buyer of a call can purchase the commodity during the life of the option, and the price at which the buyer of a put can sell the commodity during the life of the option.

 

 

執行/行權

行權(exercise)指期權買方執行其權利轉換為做多標的期貨(若執行看漲期權)或做空標題期貨(若執行看跌期權)的過程。

Exercise

Exercise refers to the process whereby the option buyer asserts his or hers right and goes long the underlying futures (in the case of exercising a call) or short the underlying futures (in the case of exercising a put).

 

 

執行

完成買賣期貨合約的買賣盤。

Execution

The completion of an order to buy or sell a futures contract.

 

 

恐慌性拋售

一個非常高的交易量在下降趨勢中突然出現,是這一趨勢結束的信號。 

Selling climax

An extraordinarily high volume occurring suddenly in a downtrend signaling the end of the trend.

 

 

總持倉價市場

交割月份之間的差異反映了利息,保險,倉儲的總成本的一個期貨市場 

Full Carrying Charge Market

A futures market where the price difference between delivery months reflects the total costs of interest, insurance, and storage.

 

 

當前交割月

期貨合約到期和可以交割的月份。

Current delivery month

The futures contract which matures and becomes deliverable during the present month.

 

 

開盤時段

做出第一個報盤和遞盤以及第一個交易完成時的買賣價波動範圍。至少需要一個交易來啟動。 

Opening range

The range of prices at which the first bids and offers were made or first transactions were completed. Must be initiated by at least one trade.

 

 

開市價

開市後第一筆成交交易的價格 

Opening price

The first price of an instrument at the beginning of the trade session.

 

 

開市

交易市場開始交易 

Opening

The beginning of the trading session.

 

 

平衡點(收支相抵)

一個策略的既不贏錢也不輸錢的股票價格。買入期權收支平衡點等於執行價加上期權金。賣出期權的收支平衡等於執行價減去期權金。 

Breakeven

The 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.

 

 

平均每日交易量

它等於在特定的時期交易量除以同樣的特定時期內的工作天數。  

Average Daily Volume

Equals volume for a specified time period divided by the number of business days within that same time period.

 

 

平價期權

當期貨價格等於期權行使價時,該期權就為平價期權。如果12月份CME E-迷你標普500指數期貨合約以1300的價格交易,那麼行使價為1300的12月份CME E-迷你標普500指數看漲期權便是處於平價狀態。

At-the-money

An option is at-the-money when the futures price equals the option’s strike price. A December CME E-mini S&P 500 call option with a strike price of 1300 is at-the-money if the December CME E-mini S&P 500 futures contract is trading at 1300.00.

 

 

平倉,斬倉

賣出(或購買)相同交割月份的期貨合同,以抵銷早先的買入(或賣出)交易,或者實際交割期貨合同中提到的現貨商品。 

Liquidate

Selling (or purchasing) futures contracts of the same delivery month purchased (or sold) during an earlier transaction or making (or taking) delivery of the cash commodity represented by the futures contract. See Offset.

 

 

市場定價

通過期貨市場,將來的現貨市場價格信息的產生。 

Price Discovery

The generation of information about "future'' cash market prices through the futures markets.

 

 

市場價值

保證金帳戶中所有商品的現有價值 

Market value

The current value of all commodities held in a margin account

 

 

市價委託單

以當前能達到的最好價格立即成交 

Market order

An order filled immediately at the best price available.

 

 

差價

同一種商品的各種股票種類,等級和交割地點的價格差異。

Differentials

Price differences between classes, grades, and delivery locations of various stocks of the same commodity.

 

 

履約保證金

期權買方在交易時只須支付期權費全額。但由於賣出期權所涉及到的風險更為大,因此期權賣方必須支出履約保證金(履約保證金)。您可以與經紀商商量就賣出期權相關的履約保證金要求(參見有關賣出期權所致風險的部分)。一旦期權頭寸行權成為期貨頭寸,就和任何其他期貨頭寸一樣需要支付履約保證金。

Performance Bond

An option buyer must only put up the amount of the premium, in full, at the time of the trade. However, because option selling involves more risk, an option seller or writer will be required to post performance bond. Your broker can discuss the performance bond requirement associated with selling options (see section regarding risks in selling options). Once an options position is exercised into a futures position, performance bond is required, just as for any other futures position.

 

 

履約價格

同被稱作行使價(行使價),為期權買方可買入或賣出標的期貨合約的價格。期權行權會產生按指定行使價的期貨頭寸。舉例,期權買方通過執行12月原油( WTI)9400看漲期權合約,得以94.00美元的價格建立多頭12月原油(WTI)期貨頭寸。如果持有一份8月份CME活牛120看跌期權的交易者執行其期權,其將得以價格120.000建立空頭8月份CME活牛的期貨頭寸。行使價格區間及範圍由交易所設定,並取決於各標的合約不同的價格區間。行使價設定在高於或低於現行期貨價格,而在期貨價格大幅上漲或下跌時則另加更多行使價的期權合約。

Exercise Price

Also known as the strike price, the exercise price is the price at which the option buyer may buy or sell the underlying futures contracts. Exercising the option results in a futures position at the designated strike price. For example, by exercising a December Crude Oil (WTI) 9400 call, the buyer of the option would then be long a December Crude Oil (WTI) contract at$94.00. If the holder of an August CME Live Cattle 120 put were to exercise his or her option, the result would be a short futures position, at 120.000, in August CME Live Cattle. Strike prices are set by the exchange and have different intervals depending on the underlying contract. Strike prices are set above and below the existing futures price and additional strikes are added if the futures move significantly up or down.

 

 

對手方

任何交易中處於相對面的個人或公司(即買方或賣方)。

Counterparty

The individual or company (i.e., the buyer or seller) on the opposite side of any trade.

 

 

對應交易

買賣訂單的執行同時完成的交易。對應交易包含一個或多個合同,針對特定數量的合同,當同樣的價格被列入買賣訂單時,對應交易就產生了

Matched trade

The execution of the buy and sell orders that together consummate a trade. A matched trade consists of one or more contracts and occurs when the same price is specified by buy and sell orders, for a specified number of contracts.

 

 

客戶保證金

在期貨行業中,期貨和期權合約的買賣雙方都要求經濟擔保去保證合約義務的實行。

Customer Margin

Within the futures industry, financial guarantees required of both buyers and sellers of futures contracts and sellers of options contracts to ensure fulfillment of contract obligations.

 

 

定價定單

在一定或更好的價格下,買入或者賣出的定單。

Price order

An order to sell or buy at a certain price or better.

 

 

委託單

一個要求---通常由交易者開給交易所 - 在特定情況下購買或者銷售特定的交易品種,這些情況或多或少是確定的(如價格,數量,委託單的種類,等) 

Order

A request –usually passed by a trader to the host –for buying or selling a given instrument at certain conditions more or less defined (conditions being price, quantity, type of order, etc.).

 

 

套利

同時的買賣相同或相等的金融商品或商品期貨以從他們的價格差異中獲利。 

Arbitrage

The simultaneous purchase and sale of identical or equivalent financial instruments or commodity futures in order to benefit from a discrepancy in their price relationship.

 

 

頭肩形

在市場價格的頂端和底部一個價格橫擺走勢形成,來表示一個主要的市場逆轉。 

Head and shoulders

A sideways price formation at the top or bottom of the market that indicates a major market reversal.

 

 

頭寸交易者

在市場裡擁有交易盤口的交易者並且可能會長期持有。 

Position Trader

A trader who takes a position in the market and might hold that position over a long period of time.

 

多頭避險

打算未來購買現貨,而先買進期貨,以防現貨價格上漲買到高價 

Long hedge

The purchase of a futures contract in anticipation of an actual purchase in the cash market. Used by processors or exporters as protection against an advance in the cash price. See "hedge."

 

 

多頭頭寸

交易者購買的一個期貨合同不沖銷先前建立的空頭部位 

Long position

A position in which the trader has bought a futures contract that does not offset a previously established short position.

 

基差

現貨或商品的現金價格和相同的期貨價格或相關價格的差額。它通常被計算到近期的期貨,和可能表現不同的時間期數,產品規格,質量和場所。 

Basis

The difference between the spot or cash price of a commodity and the futures price of the same or a related commodity. Basis is usually computed to the near future, and may represent different time periods, product forms, qualities and locations.

 

 

均衡價格

商品的數量供應等於需求數量的市場價。

Equilibrium Price

The market price at which the quantity supplied of a commodity equals the quantity demanded.

 

 

場外衍生工具

不必遵循標準期貨合約條款的期貨和期權合約。

Over the Counter Derivative

Futures and options contracts with terms that do not necessarily adhere to those of a standardized futures contract.

 

 

場外交易

在正式期貨交易所之外進行的交易。

Over the Counter Trading

Trades that take place outside of a formal futures exchange.

 

 

回購協議

賣家和買家的一個協議,通常用於美國政府的有價證券,其中賣家同意在遲些時候買回證券。

Repurchase Agreements (or Repo)

An agreement between a seller and a buyer, usually in U.S. government securities, in which the seller agrees to buy back the security at a later date.

 

 

商品期貨交易委員會

又稱CFTC,是負責監管美國期貨和期權交易的獨立政府組織。

Commodity Futures Trading Commission

Also known as the CFTC, this is the independent governmental organization that oversees futures and options trading in the United States

 

 

商品

任何經批准和指定根據交易所規則進行交易或清算的產品。也可指實物商品。

Commodity

Any product approved and designated for trading or clearing in accordance with the rules of an exchange. Also may refer to a physical commodity.

 

 

名目金額

原生價值(面值),通常是期貨或期權合同中特定的以美元表示的金融產品或商品的價值

Notional value

The underlying value (face value), normally expressed is U.S. dollars, of the financial instrument or commodity specified in a futures or options contract.

 

 

名義合約價值

一份合約所代表的市場價值是多少。計算方法為合約規模乘以報價。該數字隨每次價格跳動而變化。

Notional Contract Value

How much market exposure is represented by one contract. Multiply Contract Size x Price Quotation. This number changes with each tick move.

 

 

合約規模

用於界定某種期貨合約所代表的標的市場的單位數量。

Contract Size

Defines the number of units of the underlying market represented by one futures contract.

 

 

合約月份

可進行交易的到期月份。通常取決於標的市場的季節性和基本面。

Contract Month

Expiration months in which trading is available. Typically driven by underlying market seasonality and fundamentals.

 

 

可用期權

用於說明特定期貨合約是否提供某種期權。

Options Available

Signifies whether an options on futures contract is available for this futures contract

 

 

反彈

在一輪價格下跌之後的一個價格的向上運動。是'reaction'的反面。 

Rally

An upward movement of prices following a decline. The opposite of a reaction.

 

 

參考價格

用作參考的工具的價格,如決定開盤價,開始一種運算,或化成一種指數,並且通常是交割價或前一日的收盤價。

Reference price

The price of an instrument used as "reference" –e.g., for determining an opening price, starting an algorithm, or figuring into an index –and is usually the settlement price or last closing price.

 

 

原始保證金

根據交易所規定客戶為每筆合同交納的最小的執行債券押金 

Initial margin

The minimum performance bond deposit required from customers for each contract in accordance with the rules of the Exchange.

 

 

即日交易

指的是一天內建倉和平倉,就是在收市時沒有倉位。

Day trading

Refers to establishing and liquidating the same position or positions within one day's trading, thus ending the day with no established position in the market.

 

 

賣出對沖

為了將來的現貨市場出售而賣出的期貨合同。用來避免或降低自己擁有的等價的金融商品或現貨會貶值的可能性。 

Short hedge

The sale of a futures contract in anticipation of a later cash market sale. Used to eliminate or lessen the possible decline in value of ownership of an approximately equal amount of the cash financial instrument or physical commodity. See "hedge."

 

 

賣出(賣出定單)

一個開價。這種交易類型指的是賣出或看空。買的相對概念。 

Sell (Sell Order)

An offer. This transaction type indicates to sell or to go short. Opposite of buy or go long.

 

單純避險者

一個人為了鎖定某種貨物的價格而進行的風險規避。他會在現貨市場中同時進行交易來抵消這個風險。

Pure hedger

A person who places a hedge to lock in a price for a commodity. He or she offsets the hedge and transacts in the cash market simultaneously.

 

 

加工毛利

大豆的成本與豆油和豆粕售出產生的總收入間的差價

Gross Processing Margin (GPM)

The difference between the cost of soybeans and the combined sales income of the processed soybean oil and meal.

 

 

到期期間

一個期貨合同可以實際商品交割的時期,這段是時期從第一通知日到一商品期貨合同的最後交易日之間

Maturity

Period within which a futures contract can be settled by delivery of the actual commodity; the period between the first notice day and the last trading day of a commodity futures contract.

 

 

到期日/最後交易日

這指的是期權可行權轉換為建立標的期貨頭寸的最後一天。過了該時點後,期權將不再存在;買方不能再行權,而賣方再也沒有任何義務。要注意的是有些期權合約在標的期貨合約最後結算或到期之前先到期。舉例,一份2012年9月份小麥900看漲期權將在2012年8月24日到期。但是標的期貨是在9月14日到期。最後交易日(最後交易日)為期權倉位可被沖銷的最後一天。

Expiration Date/Last Trading Day

This is the last day on which an option can be exercised into the underlying futures contract. After this point the option will cease to exist; the buyer cannot exercise and the seller has no obligation. Note that some options expire prior to the final settlement or expiration of the underlying futures contract. For example, a September 2012 Wheat 900 call option will expire August 24, 2012. However, the underlying futures will expire September 14, 2012. The last trading day is the last day on which an option can be offset.

 

 

到期收益率

投資者如果持有固定收入的證券到最後期限所能得到的回報率。

Yield to Maturity

The rate of return an investor receives if a fixed-income security is held to maturity.

 

 

到期交割月

一個被制定或接受的期貨合約交割月份。也叫交割月。

Contract month

The month in which futures contracts may be satisfied by making or accepting delivery. Also called the delivery month.

 

 

初始保證金

持有一份合約的頭寸需要多少資本。最低保證金由芝商所設立,經紀商可能要求支付更多的保證金。保證金可能因市況隨時變化。

Initial Margin

How much capital is required to hold a position in one contract. Minimum set by CME Group; brokers may require more. Can change at any time based on market conditions.

 

 

沖銷頭寸

期貨期權買方並沒有義務一定要行權。事實上有許多交易者選擇在到期前沖銷其頭寸。想要在到期前鎖定利潤或者在下行趨勢中限制損失的交易者將會沖銷其頭寸。買方可以指示經紀商在到期前賣出期權以作沖銷。期權賣方可以買回期權或“填補(覆蓋)”空頭頭寸來沖銷頭寸。期貨期權就和期貨本身一樣都是在CME交易大廳(在通常情況下一個可以進行沖銷期權頭寸的交易市場)進行交易,也可以在Globex電子交易平台(各式各類的期權可以通過此平台在整個交易週內進行全天候的交易)上進行交易。

Offset

The buyer is under no obligation to exercise an option on a futures contract. As a matter of fact, many traders choose to offset their position prior to expiration. Traders will offset their position if they wish to take profits before expiration or limit losses on the downside. Buyers can offset their options by instructing their broker to sell their option before expiration. An option seller can offset a position by buying back or “covering” a short position. Options on futures, like futures themselves, trade both on the CME floor, where a market normally exists to offset options positions, and on the Globex electronic trading platform, where many options can be traded virtually around-the-clock throughout the trading week.

 

 

公開喊價

公開交易的方式保證每個交易者有平等買賣的機會

Open outcry

The method of trading publicly so that each trader has a fair chance to buy or sell.

 

 

儲備需求

Federal Reserve(聯邦儲備)需要他的成員銀行保留的現金和流動資產的最小量,作為需求保證金和時間保證金的一個百分比。

Reserve Requirements

The minimum amount of cash and liquid assets as a percentage of demand deposits and time deposits that member banks of the Federal Reserve are required to maintain. ve Requirements.

 

 

傾銷量

一個反常的高成交量交易部分突然在上升趨勢中發生,預示著趨勢的結束。 

Blowoff volume

An extraordinarily high volume trading session occurring suddenly in an uptrend signaling the end of the trend.

 

 

債券

在現金市場中交易的工具它代表著一種政府或公司的債務。

Bond

Instrument traded on the cash market-representing a debt of the government or of a company.

 

 

保證金

客戶付給經濟商或清算所的一定數額的現金或間接形式的抵押金,為了避免經濟商或清算所在未平倉的期貨或期權合同中遭受損失

Margin

The amount of money or collateral deposited by a client with his or her broker, or by a clearing member with the Clearing House, for the purpose of insuring the broker or Clearing House against loss on open futures or options contracts.

 

 

保值避險者

那些打算銷售或購買實際商品並利用期貨市場來抵消價格風險的人或公司

Hedger

A person or firm who uses the futures market to offset price risk when intending to sell or buy the actual commodity

 

 

保值

購買或者出售一個期貨合同作為一種臨時性的替代品,以替代將來的現貨交易。通常情況下同時在現貨市場和期貨市場做出相反方向的交易。

Hedge

The purchase or sale of a futures contract as a temporary substitute for a cash market transaction to be made at a later date. Usually it involves opposite positions in the cash market and futures market at the same time

 

 

佣金

是經紀商對交易收取的費用。可能是一筆固定的金額或是百分比,通常指的是中介費。 

Brokerage

The fee charged by a broker for execution of a transaction. May be a flat amount or a percentage; usually referred to as a commission.

 

 

伽瑪

衡量期權中隨期貨價格變化的delta值的變化,相當於delta值的變化除以期貨價格的變化。 

Gamma

The measure of the change in an option's delta given a change in the futures price. Equal to the change in delta divided by the change in futures price.

 

 

價格限額

相對於上一交易日的結算價,交易中最大的升幅或降低。察看變數限價,最大價格波幅。 

Price Limit

The maximum advance or decline from the previous day's settlement price permitted for a contract in one trading session by the rules of the exchange. See also Variable Limit, Maximum Price Fluctuation.

 

 

價格變動

表明價格向上向下的變化。 

Tick

Refers to a change in price, either up or down. See "minimum price fluctuation."

 

 

價差組合

通過買入和賣出同級的期權而建立的期權盤口,但兩個期權是不同的系列。 

Spread

An options position established by purchasing one option and selling another option of the same class, but of a different series.

 

 

價外期權

對看漲期權而言當期貨價格低於行使價或對看跌期權而言高於行使價的期權就為價外期權。期權合約沒有內在價值,只有時間價值的時候便是處於價外狀態。如果原油(WTI)期貨以93.95的價格進行交易,那麼95.00看漲期權為價外期權。

Out-of-the-money

When the futures price is below the strike price (for calls) and above the strike price (for puts) the option is said to be out-of-the-money. An option that has no intrinsic value, but only time value, is out-of-the-money. If Crude Oil (WTI) futures are trading at 93.95, a 95.00 call would be out-of-the-money.

 

 

產品價格指數

一個表示在前一月中生產製成品所需要的原料的成本的指數。

Producer Price Index (PPI)

An index that shows the cost of resources needed to produce manufactured goods during the previous month.

 

 

產品代碼

用於識別市場和交易平台,以便進行交易和清算。經紀商和報價服務機構使用的代碼可能與交易所代碼不同

Product Symbol

Identifies both market and trading venue for trading and clearing purposes. Symbols used by brokers and quote services might differ from exchange symbol.

 

 

交易量

在一定時間內交易的期貨合同和期權期貨合同的數量.CME:表示'總量'(如一天的總交易量)。

Volume

The number of contracts in futures or options on futures made during a specified period of time.

 

 

交易時段

合約可在特定交易平台進行交易的時間。對於CME Globex,請注意清算/交割的交易日橫跨兩個日曆日。

Trading Hours

When the contracts are available for trading on a certain trading venue. For CME Globex, note that a trading day for clearing/settlement spans two calendar days.

 

 

交易日

在一段時間內所有同一級別的執行的交易在同一天結算。這一段時間可能超過24小時,可能是一個或更多交易盤。 

Trading day

(Should actually be called 'Clearing Day') –Period within which all executed trades for a given class are cleared on the same day. This period may very well exceed 24 hours. One or more sessions could take place.

 

 

交易平台

CME Globex幾乎每週6天每天24小時可進行電子交易。

Trading Venue

CME Globex offers electronic trading almost 24/6.

 

交割

履行期貨合約中,交付和接收金融商品或實際商品。 

Delivery

The tender and receipt of an actual commodity or financial instrument in settlement of a futures contract.

 

 

買空

預期價格會上升 

Bull

One who expects prices to rise.

 

 

買賣盤類型

買賣盤類型(請注意,並非所有買賣盤類型均可通過Globex和公開喊價市場在交易廳執行。此外,視買賣盤是通過公開喊價市場還是通過Globex在交易廳執行而定,可在這兩種平台執行的買賣盤類型可能有不同的涵義。) 

Order Types

(Note that not all order types are eligible for execution in a trading pit on Globex and through open outcry. Additionally, order types eligible for both venues may have different meanings depending on whether the order is to be executed in a trading pit via open outcry or through Globex.) 


(公告)喊價買賣盤類型  Open Outcry Order Types
全部執行或取消(AON)盤買賣 All-Or-None (AON) Order

這的英文一種按單一價格通過(公告)喊價市場在交易廳裝修-悉數執行的指定合約買賣盤,其規模必須等於或高於預設的限額。

 An order to be executed in designated contracts in a trading pit via open outcry only for its entire quantity at a single price, with a size at or above a predetermined threshold

無視市場(DRT)買賣盤或全權買賣盤
如無任何限制條件,“無視市場”(全權)買賣盤指允許相關人士全權酌情決定執行買賣盤的價格和時間的買賣盤,包括酌情決定執行全部,部分買賣盤或不執行買賣盤。會員或清算會員不得接受包含“有一個勾號,你被舉行”(“以一個跳動點為準,由貴方依市場行情處理“)的字樣(或類似字樣)的買賣盤。各方理解,場內經紀人可為自己進行 易,同時持有這種買賣盤,而不違反規則530(“客戶買賣盤優先權”),前提是客戶此前已用書面形式同意這樣做,並在買賣盤上註明“WP”(已允許)字樣,以證明該一般同意。已向清算公司發出指令,要求在執行上一個買賣盤之後錄入止損盤。  

Disregard Tape (DRT) Or Not-Held Order 
Absent any restrictions, a "DRT" (Not-Held Order) means any order giving a person complete discretion over price and time in execution of the order, including discretion to execute all, some, or none of the order. A member or clearing member shall not accept an order containing the phrase "with a tick, you are held" (or similar such language). It is understood that a floor broker may trade for his own account while holding such an order without violating Rule 530 (“Priority of Customers’ Orders”) provided the customer has previously consented in writing and evidence of such general consent is indicated on the order with the “WP” (with permission) designation. An instruction to the clearing firm to enter a stop order after execution of a previous order has been achieved. 


成交或取消(FOK)買賣盤
這是在買賣盤中增加的一個指令,要求經紀人要么立即全數執行買賣盤,要么全數不執行。如果買賣盤未立即全數執行,則被取消。  

Fill Or Kill (FOK) Order
A designation, added to an order, instructing the broker to fill the order immediately in its entirety or not all. If the order is not filled immediately in its entirety, it is cancelled. 

 

限價盤
要求按特定價格(“限價”)或更好的價格執行的買賣盤。

Limit Order
An order with instructions to be executed at a specific price ("limit price") or better. 

 
市價( MKT)盤
要求場內經紀人收到在買賣盤後按可獲得的最佳價格執行的買賣盤。  

Market (MKT) Order
An order with instructions to be executed upon receipt by a floor broker at the best available price.


觸價(MKT)盤
按高於(低於)市價下達的買入或賣出買賣盤,在觸及指定價格時成為市價盤。 

Market If Touched (MIT) Order
A sell (buy) order placed above (below) the market which becomes a market order when the designated price is touched. 

 


收盤市價(MOC)盤
只在收盤價範圍內作為市價盤執行的買賣盤。  

Market On Close (MOC) Order 
An order to be executed as a market order only in the closing range. 


二擇一(OCO)盤買賣
這的英文兩種買賣盤的組合,執行其中一個買賣盤將自動取消另一個買賣盤。  

One-Cancels-Other (OCO) Order 
A combination of two orders, in which the execution of either one automatically cancels the other. 


開口買賣盤(取消前有效買賣盤)
在取消之前始終有效的買賣盤。如果沒有此類說明,所有未執行的買賣盤將在正常交易時段結束時取消。  

Open Order (Good-Till-Cancelled)
An order which remains in force until cancelled. Without such designation, all unfilled orders are cancelled at the end of the Regular Trading Hours Session. 


開盤買賣盤
在交易所指定的正常交易時段開盤期間執行的買賣盤。在指定的開盤時間範圍內未被執行的買賣盤將視為取消。  


An order that is to be executed during the time period designated by the Exchange as the Regular Trading Hours session opening range time period. Any remaining unfilled quantity not executed during the time period designated as the opening range will be deemed cancelled. 

 

止損盤
在如下文所述選擇買賣盤上的指定價格(“止損價”)時成為市價盤的買賣盤。“買入止損盤”按高於市價的價格下達,只能在市場交易價格或遞盤價格等於或高於止損價時選擇。“賣出止損盤”按低於市價的價格下達,只能在市場交易價格或報盤價格等於或低於止損價時選擇。  

Stop Order
An order which becomes a market order when the price designated on the order (the "Stop Price") is elected as described below.
A "Buy Stop" order is placed above the market, and is elected only when the market trades at or above, or is bid at or above, the Stop Price. A "Sell Stop" order is placed below the market, and is elected only when the market trades at or below, or is offered at or below, the Stop Price. 


收盤止損盤
只在收盤期間有效值的止損盤。如果市場在收盤 間出現下列情況,該買賣盤將成為市價盤:(1)買入收盤止損盤的交易價格或遞盤價格等於或高於止損價;或(2)賣出收盤止損盤的交易價格或報盤價格等於或低於止損價。
Stop-Close Only Order
A stop order which is in effect only during the closing range. It becomes a market order if, during the closing range, the market: (1) in the case of a Buy Stop-Close Only order, trades at or above, or is bid at or above the Stop Price; or (2) in the case of a Sell Stop-Close Only order, trades at or below, or is offered at or below the Stop Price. 


止損限價盤
如果市場出現下列情況,止損限價盤可按限價或更好的價格執行:(1)買入止損限價盤的交易價格或遞盤價格等於或高於止損價;或(2)賣出止損限價盤的交易價格或報盤價格等於或低於止損價.Globex  

Stop Limit Order
A stop order which becomes executable at its limit price or better, when and if the market: (1) in the case of a Buy Stop Limit order, trades at or above, or is bid at or above the Stop Price; or (2) in the case of a Sell Stop Limit order, trades at or below, or is offered at or below the Stop Price. 


Globex 買賣盤類型
Globex特定買賣盤類型的可用性因產品而異,並非所有買賣盤類型均適用於所有產品。各產品支持的買賣盤類型見“ Globex參考指南 ”  

Globex Order Types
The availability of specific Globex Order Types is dependent on the product, and not all Order Types are available for all products. Supported Order Types by Product are set forth in the Globex Reference Guide. 

組合盤
按固定差價或根據其它相關定價規則為由相同人士擁有的一個或多個帳戶發出的買入和/或賣出組合盤。  


Combination Order
A combination of buy and/or sell orders for the same account or accounts with the same ownership, except as provided by Rule 527, at a fixed differential or by some other appropriate pricing convention. 


隱藏數量盤
只向市場顯示買賣盤一小部分的買賣盤。當所顯示數量的買賣盤已執行時,再向市場顯示買賣盤的其它部分。  
Hidden Quantity Order
An order which displays only a small portion of the order to the marketplace. When the displayed quantity has been filled, another portion of the order will then be displayed to the marketplace. 

限價盤
按特定價格(“限價”)或更好的價格執行的買賣盤。

Limit Order
An order to be executed at a specific price ("limit price") or better. 

有保護市價盤
按交易所預定價格範圍內目前最好的報盤價格(適用於買入盤)或遞盤價格(適用於賣出盤)執行盡可能多的買賣盤的買賣盤。無法在受保護價格範圍內執行的買賣盤將按受保護價格範圍的限制作為限價盤留在買賣盤記錄中,  

Market With Protection Order
An order to execute as much of order as possible at the best current offer price (for buy orders) or bid price (for sell orders) within a range of prices predefined by the Exchange (the protected range). Any quantity which cannot be filled within the protected range will remain in the order book as a limit order at the limit of the protected range.   


最低數量盤
只在買賣盤的若干最低數量柯林斯|立即匹配時執行的買賣盤。  

Minimum Quantity Order
An order which is executed only if a certain minimum quantity of that order can be immediately matched. 


止損限價盤
在買入止損限價盤的交易價格等於或高於止損價,或賣出止損限價盤的交易價格等於或低於止損價時可按限價或更好的價格執行的買賣盤。  

Stop Limit Order
An order which becomes eligible for execution at its limit price or better when the market trades at or above the stop price in the case of a buy stop limit order or at or below the stop price in the case of a sell stop limit order.
 
有保護止損盤
在 GLOBEX上達到指定交易價格時可以執行的買賣盤。此類買賣盤只在交易所預定的價格範圍(受保護價格範圍)內執行。在觸發止損價格時,買賣盤作為限價盤錄入買賣盤記錄,限價等於觸發價格加減預定的受保護價格範圍。任何無法在受保護價格範圍內執行的買賣盤將把限價作為限價盤留在買賣盤記錄中  
Stop With Protection Order
An order which becomes eligible for execution when the designated price (the stop price) is traded on Globex. Such orders are filled only within a range of prices predefined by the Exchange (the protected range). When the stop price is triggered, the order enters the order book as a limit order with the limit price equal to the trigger price plus or minus the predefined protected range. Any quantity which cannot be filled within the protected range will remain in the order book as a limit order at the limit price. 

Globex買賣盤期限標識
如果買賣盤未在收到該買賣盤的交易日執行,或者如果買賣盤在兩個交易日之間收到,而該買賣盤未在下個交易日執行,則可以錄入Globex的,且不包含期限標識的買賣盤將被取消買賣盤可指定下列期限標識之一:

Globex Order Duration Qualifiers
An order eligible to be entered into Globex that does not contain a duration qualifier will be cancelled if not filled during the Trading Day in which it was received or, if it was received between Trading Days, during the next Trading Day. An order may specify one of the following duration qualifiers:

 
當天
如果未在買賣盤錄入的Globex的交易日結束時執行買賣盤,則該買賣盤將被取消。  

Day
An order that will be canceled if not filled by the conclusion of the Globex trade date for which it was entered. 


立即執行,否則取消
買賣盤必須按指定價格|立即全部或部分執行,任何剩餘部分將被取消或廢除。  

Fill And Kill
An order immediately filled in whole or in part at the specified price, with any remaining quantity canceled or eliminated. 


取消前有效(GTC)
買賣盤將始終保持有效,直至執行,取消或合約到期為止。  

Good ‘Till Canceled (GTC)
An order which will remain in force until executed, cancelled or the contract expires. 


指定日期前有效(GTD)
買賣盤將始終保持有效,直至指定日期為止,除非買賣盤被執行,取消或合約到期。

Good ‘Till Date (GTD)
An order which will remain in force through a specified trade date unless executed or canceled, or until the contract expires.

 

 

買入

已經購買了一個期貨或期權合同的人建立一個交易盤口,並且沒有通過沖銷拋售盤口 

Long

One who has bought a futures or options on futures contract to establish a market position and who has not yet closed out this position through an offsetting procedure.

 

 

以指定了的價格購買特定數量的商品。市場參與者願意支付的價格。 

Bid (or buy)

An offer to buy a specific quantity of a commodity at a stated price. The price that the market participants are willing to pay.

 

 

上漲趨勢

通過一系列的較高的最高價和最低價表現的價格趨勢。

Uptrend

A price trend characterized by a series of higher highs and higher lows.

 

 

一攬子交易

同時買賣一系列相連的期貨合同,他是提供一個易於獲得並且被廣泛接受的在一個交易中執行多個期貨合同的方法。 

Bundle

The simultaneous sale or purchase of one each of a series of consecutive futures contracts. Bundles provide a readily available, widely accepted method for executing multiple futures contracts with a single transaction.

 

 

一個跳動點的美元價值

價格跳動一個點等於多少美元。計算方法為最小跳動點乘以報價。

Dollar Value of One Tick

How many U.S. dollars equal a price move of one tick. Multiply Minimum Tick x Price Quotation.

 

 

Delta值

Delta值量度期權費在標的期貨合約價格變動一單位時的相對變化率,為在任何給定時刻的價格敏感性量度標準。期權並非都隨著其標的期貨合約的價格變動同步變化。如果期貨合約變動0.50點,而期權只變動0.25點,其Delta值便為50%,即期權相對於標的期貨合約變動的敏感性只有50%.Delta值在期權從價外狀態變為平價,再變為價內期權的過程裡將隨之變化直到接近100%.Delta值範圍為0%至100%。標準期貨合約的Delta值為100%(Delta值一般使用期權定價軟件計算)。

Delta

Delta measures the rate of change of an option premium with respect to a price change in the underlying futures contract. Delta is a measure of price sensitivity at any given moment. Not all options move point-for-point with their underlying futures contracts. If a futures contract moves .50 points and the option only moves .25 points, its delta is 50%; i.e., the option is only 50% as sensitive to the movement of underlying futures contract. The delta will change as an option moves from out-of-the-money to at-the-money to in-the-money, approaching 100%. Deltas range from 0% to 100%. The delta of the underlying futures contract is 100% (options pricing software is normally used to calculate delta).

 

 
美國長期國債

原始有效期高於十年並帶有息票的政府債券,利息每半年支付。 

U.S. Treasury Bond

Government-debt security with a coupon and original maturity of more than 10 years. Interest is paid semiannually.

 


內在價值

實值期權執行價格與期貨現價的關係。對於一個賣出期權:內在價值=執行價格 - 期貨現價,對於一個買入期權:內在價值=期貨現價 - 執行價格 

Intrinsic value

The relationship of an option's in-the-money strike price to the current futures price. For a put: strike price - futures price. For a call: futures price - strike price.

 

期貨選擇權手續費 國外期貨手續費 海外期貨手續費 小道瓊期貨手續費 輕原油手續費 大阪小日經期貨手續費
如需試用帳號密碼洽詢LINE: @dolag 康和期貨 李思儀 手機0981589732

36559802_2225349887479088_5320846622928666624_n (1).jpg