它们通过降低买卖价差改善了交易所的价格质量。
They improve the quality of the prices on the exchanges by lowering the bid-ask spread.
自营商的利润或损失来自于同一证券的买卖价差。
The dealer's profit or loss is the difference between the price paid and the price received for the same security.
微观结构理论对交易成本的研究是从买卖价差开始的。
Market microstructure theory bases its research on the difference between bid and ask prices.
流动性更强的市场通常导致买卖价差更小，而这意味着交易商的价格更有利。
More liquid markets generally result in narrower bid-ask spreads, which means better prices for traders.
稳定的市场会减少投资者交易的次数，而且交易员赚取买卖价差的机会也会减少。
Steady markets would give investors fewer reasons to deal, and so traders would have less chance to earn the spread between sell and buy prices.
第二章分析了买卖价差的三个经济意义，即交易成本、存量成本和信息成本。
In chapter two, three economic meanings of bid-ask spread are analyzed. They are transaction cost, inventory cost and information cost.
在报价驱动交易机制下，买卖价差由指令处理成本、存货成本和非对称信息成本构成。
In a quote-driven market, bid-ask spread is composed of order processing costs, stock holding costs and asymmetric information cost.
最小价格变化单位是买卖价差的底线，设置过高会人为地提高买卖价差的水平，增加交易费用；
Tick size is the bottom line of price spreads, the subtleness of which great affects the prices and market efficiency.
本文选取的流动性指标包括绝对买卖价差、相对买卖价差、报价深度、金额深度和市场冲击成本指标。
To study the degree of effect of great policy or event on liquidity. This paper adopts bid-ask spread, market depth and market impact cost as the proxies for liquidity.
最近的一份关于从摩根大通到奥纬集团的批发银行业的未来的报告预测说，买卖价差已经从50%增长到了300%。
A recent report on the future of wholesale banking from Morgan Stanley and Oliver Wyman reckons that bid-offer spreads have increased by anything from 50% to 300%.
结果发现，同用各种买卖价差表示的流动性指标相比，反应交易活动的交易量指标显示出更大的波动性，市场流动性和交易的活跃性显著相关。
We find that the liquidity index of volume are more fluctuant than other liquidity index of spread, the market liquidity is correlated with trading activity significantly.
我方依据交易程序提供买卖报价，且涉及买价和卖价的价差。
Our bid and offer quotes are subject to the Trading Procedures and involve a spread between buying and selling prices.
我方依据交易程序提供买卖报价，且涉及买价和卖价的价差。
Our bid and offer quotes are subject to the Trading Procedures and involve a spread between buying and selling prices.
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