This criterion requires an Executive Board determination that the currency is, in fact, widely used to make payments for international transactions and widely traded in the principal exchange markets.

为判断一种货币是否符合该标准，执董会必须确定该货币事实上被广泛用于国际交易支付并在主要外汇市场上广泛交易。

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Forward transactions are economically similar to exchange-traded futures contracts.

向前交易与被交换的期货合约在经济上是相同的。

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Securities transactions is generally divided into two forms: a form that is traded, refers to the securities at the stock exchange dealings in the centralized exchange.

证券买卖普通分为两种方式：一种方式是上市买卖，是指证券在证券买卖所集中买卖挂牌买卖。

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These sources claim that Mr Adoboli took advantage of a loophole in securities law by using exchange-traded funds (ETFs) to book these fake transactions, since ETF rules do not force brokers immediately to produce confirmations of trades.

ECONOMIST: UBS��s trading loss

Thus, the mainstream exchange-traded market does not have any clue about the volume of transactions happening in this parallel market or the prices at which they are being executed.

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