Futures Contract
期货合同
Corn Futures Contract of Chicago Board of Trade (CBOT)
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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
Fluctuation Limits |trading day before are allowed, (USD 500.00 for each
|contract), no limitation for spot months.
________________________|________________________
Definite Price |(will be decided 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 backwards 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 technological 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 attain 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.
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