金融英语之银行英语阅读:Derivatives衍生

 　　金融英语

　　A derivative¹ is a security which “derives” its value fromanother underlying² financial instrument， index， or otherinvestment. Derivatives³ are available based on theperformance of stocks， interest rates， currencyexchange rates， as well as commodities contracts andvarious indexes. Derivatives give the buyer greaterleverage for a lower cost than purchasing the actualunderlying instrument to achieve the same position.For this reason， when used properly， they can serve to “hedge” a portfolio⁴ ofsecurities against losses. However， because derivatives have a date of expiration⁵， thelevel of risk is greatly increased in relation to their term. One of the simplest formsof a derivative is a stock option. A stock option gives the holder⁶ the right to buy orsell the underlying stock at a fixed⁷ price for a specified⁸ period of time.

　　衍生工具是一种金融工具，它是从其他原生金融工具如指数衍生出来的。衍生工具的获得建立在证券、利率、汇率、商品合同以及各种指数。衍生工具给购买者一个杠杆效用促成以更低的成本购买实际需要的基础工具。那么如果正确使用衍生工具的话，就可以在投资组合中套期保值。可是衍生工具有一个截至日期，所以风险程度很大程度上取决于它的期限。最简单的衍生工具形式是股票期权。股票期权使得持有者有权在特定时期里以一个固定价格买卖底层股票。

　　financial derivatives

　　【财经】金融衍生性产品， 衍生性金融产品， 衍生性金融工具 （指以基础金融工具 （UnderlyingInstrument） 为前提， 并以基础金融工具为买卖对象， 价格也由基础金融工具的价格变动所决定的金融工具）

1 derivative   

n.派(衍)生物；adj.非独创性的，模仿他人的

参考例句：

• His paintings are really quite derivative.他的画实在没有创意。
• Derivative works are far more complicated.派生作品更加复杂。

2 underlying   

adj.在下面的，含蓄的，潜在的

参考例句：

• The underlying theme of the novel is very serious.小说隐含的主题是十分严肃的。
• This word has its underlying meaning.这个单词有它潜在的含义。

3 derivatives   

n.衍生性金融商品；派生物，引出物( derivative的名词复数 )；导数

参考例句：

• Many English words are derivatives of Latin words. 许多英语词来自拉丁语。 来自《简明英汉词典》
• These compounds are nitrosohydroxylamine derivatives. 这类合成物是亚硝基羟胺衍生物。 来自辞典例句

4 portfolio   

n.公事包；文件夹；大臣及部长职位

参考例句：

• He remembered her because she was carrying a large portfolio.他因为她带着一个大公文包而记住了她。
• He resigned his portfolio.他辞去了大臣职务。

5 expiration   

n.终结，期满，呼气，呼出物

参考例句：

• Can I have your credit card number followed by the expiration date?能告诉我你的信用卡号码和它的到期日吗?
• This contract shall be terminated on the expiration date.劳动合同期满，即行终止。

6 holder   

n.持有者，占有者；(台，架等)支持物

参考例句：

• The holder of the office of chairman is reponsible for arranging meetings.担任主席职位的人负责安排会议。
• That runner is the holder of the world record for the hundred-yard dash.那位运动员是一百码赛跑世界纪录的保持者。

7 fixed   

adj.固定的，不变的，准备好的；(计算机)固定的

参考例句：

• Have you two fixed on a date for the wedding yet?你们俩选定婚期了吗？
• Once the aim is fixed,we should not change it arbitrarily.目标一旦确定，我们就不应该随意改变。

8 specified   

adj.特定的

参考例句：

• The architect specified oak for the wood trim. 那位建筑师指定用橡木做木饰条。
• It is generated by some specified means. 这是由某些未加说明的方法产生的。