金融英语(4-13)

Chapter 4 Financial Markets
4.1 Types of Financial Markets
Spot market and future market
• The spot market or cash market is a public financial market in which financial instruments or commodities are traded for immediate delivery.
➢ Accommodating corporate finance needs.
The financial markets serve as the mechanism whereby corporations (acting as deficit units) can obtain funds from investors (acting as surplus units).
➢ Interest
Chapter 4 Financial Markets
4.1 Types of Financial Markets
Visible market and invisible market
The term "market" is sometimes used for what are more strictly exchanges, organizations that facilitate the trade in financial securities, such as a stock exchange or commodity exchange. This may be a physical location (like the NYSE, BSE, NSE) which is called visible market, or an electronic system (like NASDAQ) which is called invisible market.
funds to deficit units. In addition, they provide a variety of specific services, such as money transmission facilities, evaluating the creditworthiness of the borrowers, advice on corporate finance and so on.
income, who have a shortage of funds relative to their desired expenditures and who are deficit units.
Chapter 4 Financial Markets
4.3 Participants of Financial Markets
➢ Accommodating investment needs.
Financial institutions serve as intermediaries within the financial markets to channel funds from investors to corporations.
Chapter 4 Financial Markets 4.1 Types of Financial Markets
Direct financial market and indirect financial market
• In direct financial market, borrowers borrow funds directly from lenders without using a third party service.
• A futures exchange or futures market is a central financial exchange where people can trade standardized futures contracts, that is, a contract to buy specific quantities of a commodity or financial instrument at a specified price with delivery set at a specified time in the future.
➢ Regulators.
Most countries need regulators who control their financial institutions and regulate dealings in securities markets with the objects of ensuring that the financial institutions are able to honour their commitments, that people have access to relevant information before they enter into contracts, and dealing in securities is fair.
Indirect finance is where borrowers borrow funds from the financial market through a financial intermediary, such as through a bank.
Chapter 4 Financial Markets
• Capital markets are financial markets for the buying and selling of long-term debts or equity-backed securities.
Chapter 4 Financial Markets
4.1 Types of Financial Markets
Primary market and secondary market
• The primary market is the part of the capital market that deals with issuing of new securities. 一级市场是资本市场的一部分，它涉及的是新证券的发行。 • Secondary market deals with the trading of existing bonds, shares, etc. rather than new ones, which allows for a change in the ownership of the securities. 二级市场涉及的是已发行的债券、股票等的交易，而不是新 发行证券，它允许证券所有权的变更。
The financial markets can be divided into different types by different standards.
Money market and capital market
• The money market is the system in which banks and other similar organizations buy and sell short term assets with original maturities of one year or less with each other.
• International financial markets allow a number of traders who are not only across the country but also around the world to make transactions.
Chapter 4 Financial Markets 4.2 Roles of Financial Markets
Chapter 4 Financial Markets
4.3 Participants of Financial Markets
➢ Savers and other investors. The end-users of the financial markets are the savers,
other investors, and borrowers. The current spending of the savers and other investors is
The meanings of financial markets Types of financial markets Roles of financial markets Participants of financial market
Chapter 4 Financial Markets 4.1 Types of Financial Markets
less than their income, who have money available to lend to others and who are surplus units.
➢ Borrowers. The current spending of the borrowers is more than their
4.1 Types of Financial Markets
Domestic financial market and international financial market
• Domestic financial markets involve participants within a country and they operate in markets that are regulated by domestic rules and standards.
Financial English
Topic Two Financial Market
Chapter 4 Financial Markets
Chapter 4 Financial Markets
【Learning Objectives】
After learning this chapter, you should be able to understand the following:
➢ Financial intermediaries. Financial intermediaries are institutions which attempt to
serve the needs of both lenders and borrowers. They accept funds from surplus units and channel the
多数国家需要监管者，它们调控其金融机构，管理证券 交易，旨在确保金融机构能够兑现其承诺，确保人们在签订 合约前了解相关信息，并确保正确交易的公平。
Chapter 5 Interest and Interest Rate
Chapter 5 Interest and Interest Rate ➢ 5.1 What is Interest and Interest Rate?
➢Brokers and advisers. The main role of brokers and advisers is to help organized
markets to function properly.
Chapter 4 Financial Markets
4.3 Participants oLeabharlann Financial Markets