除了通过透明度不高的场外大宗商品掉期市场为客户处理大笔交易之外，银行本身也是大型大宗商品交易商。

Besides handling large volumes of trades for clients via the opaque over-the-counter commodity-swaps markets, they are also large commodity traders in their own right.

youdao

商品期货交易委员会坚持掉期交易场所必须对同一交易给出至少五个报价的规定也可能让交易商受到打击。

Dealers may also be put off by the CFTC's insistence that swap-trading venues offer a minimum of five quotes for any given transaction.

youdao

一个交易商指出，目前的现货交易和票据市场的价值保持一致，另一个则指出作为煤炭掉期交易的标准的API2指数是从现货实际交易中产生。

While one trader said that current physical deals were aligned with paper values, another pointed out that the API2 index, against which coal swaps are settled, is derived from spot physical trades.

youdao

一个交易商指出，目前的现货交易和票据市场的价值保持一致，另一个则指出作为煤炭掉期交易的标准的API2指数是从现货实际交易中产生。

While one trader said that current physical deals were aligned with paper values, another pointed out that the API2 index, against which coal swaps are settled, is derived from spot physical trades.

youdao