Futures Contract 期货合同

Futures¹ Contract
     期货合同
     Corn Futures Contract of Chicago Board of Trade (CBOT)

__________________
     Terms |Contract Contents
     ________________________|________________________
     Trading Unit |5,000 bus. for each contract
     ________________________|________________________
     Tick |a quarter cent in US currency / per bu.
     |(around USD 12.50/each contract)
     ________________________|________________________
     Daily Price Maximum |10 cents more or less than the settled price of the
     Fluctuation² Limits |trading day before are allowed, (USD 500.00 for each
     |contract), no limitation for spot months.
     ________________________|________________________
     Definite Price |(will be decided³ later)
     ________________________|________________________
     Contract Months |The contracts for March, May, July, September,
     |December can be bought and sold.
     ________________________|________________________
     Trading Times |Between 9:30 am and 13:15 pm (Chicago time) from Monday
     |to Friday. The trading time for expiring contracts will
     |be ended at or before noon of the last trading day.
     ________________________|________________________
     Last Trading Day |The seventh business day counted backwards⁴ from the
     |last business day in the delivery month.
     ________________________|________________________
     Trading Grade |No.2 Yellow Corn or any other substitute grades
     |decided by CBOT
     ________________________|________________________
     Prompt Date of Contract |Last trading day in the delivery month
     ________________________|________________________
     Trading Life of Contract| From December of the contract year to next September
     ________________________|________________________

     Notes
     1. futures contract 期货合约

2. bu. bushel 的缩写，译为：蒲式耳，谷物等的一种容量单位

3. tick 最小价位

4. daily price maximum fluctuation limits 每日价格最大波动限制

5. last trading day 最后交易日

6. tading grade 交割等级

7. prompt date of contract 合约到期日

8. trading life of contract 合约交易期限

     Exercises

Translate the following passage into Chinese:

     Technology Import

     Importation of advanced technology from abroad is very effective way, a short cut, to boost our technological⁵ progress. This is also one of the aims of China's open policy. In the last few years several thousand items of advanced technology and equipment have been imported. These items not only benefit our present technological progress but will enable us to proceed further on our own in the future. In view of the good results so far obtained, it has been decided to upgrade the business of enterprises by advanced technology to be imported on a large scale.
     It is hoped that China will attain⁶ a much higher level in science and technology in the not too distance future as a result of the importation of advanced technology and the breakthrough in her own researches in key projects. By then both the quality of products on the domestic market and the nation's ability to export will be greatly improved. China will thus be in a position to buy more and more technology and manufactured goods on the international market, and make greater contributions to the world's economic interflow.
 

1 futures   

n.期货，期货交易

参考例句：

• He continued his operations in cotton futures.他继续进行棉花期货交易。
• Cotton futures are selling at high prices.棉花期货交易的卖价是很高的。

2 fluctuation   

n.(物价的)波动，涨落；周期性变动；脉动

参考例句：

• The erratic fluctuation of market prices are in consequence of unstable economy.经济波动致使市场物价忽起忽落。
• Early and adequate drainage is essential if fluctuation occurs.有波动感时，应及早地充分引流。

3 decided   

adj.决定了的，坚决的；明显的，明确的

参考例句：

• This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
• There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。

4 backwards   

adv.往回地，向原处，倒，相反，前后倒置地

参考例句：

• He turned on the light and began to pace backwards and forwards.他打开电灯并开始走来走去。
• All the girls fell over backwards to get the party ready.姑娘们迫不及待地为聚会做准备。

5 technological   

adj.技术的；工艺的

参考例句：

• A successful company must keep up with the pace of technological change.一家成功的公司必须得跟上技术变革的步伐。
• Today,the pace of life is increasing with technological advancements.当今， 随着科技进步，生活节奏不断增快。

6 attain   

vt.达到，获得，完成

参考例句：

• I used the scientific method to attain this end. 我用科学的方法来达到这一目的。
• His painstaking to attain his goal in life is praiseworthy. 他为实现人生目标所下的苦功是值得称赞的。