Those are institutions that arrange for or manage the buying and selling of financial assets, such as the New York Stock Exchange.

经纪机构是指那些安排或,管理买卖的,金融资产的机构,比如说纽约股票交易所

耶鲁公开课 - 金融市场课程节选

Now the brokerage industry-- The New York Stock Exchange goes back into the eighteenth century, it's very old.

经纪行业历史悠久...,纽约股票交易所历史悠久,成立于18世纪

耶鲁公开课 - 金融市场课程节选

The costs were huge -not just the immediate costs in terms of the move from stocks to bonds.

代价是巨大的,不仅仅是卖掉股票,和买进债券的直接交易成本

耶鲁公开课 - 金融市场课程节选

For example, when they started trading stock index futures, both these agencies thought it was in their turf because it involved both stock indexes and futures Anyway, Paulson is proposing merging these.

例如，当人们开始交易股票指数期货的时候，这两个机构都认为这个交易是在他们的管辖范围内的,因为这个交易既包括了股票指数也包括了期货,总之，鲍尔森是准备合并他俩。

耶鲁公开课 - 金融市场课程节选

In fact, the idea of the stock exchange goes back to the fourteenth century, when in Flanders the first stock exchange called The Bourse was established.

事实上,股票交易所的诞生,可以追溯到14世纪,那时候在佛兰德斯,一个叫做,The Bourse的股票交易所成立了

耶鲁公开课 - 金融市场课程节选