票据是流通证券，其流通是通过票据权利的转让实现的。
As negotiable securities, bills can be current by transferring rights.
期权价值是从与期权有相同损益的流通证券组合的价值推演出来的。
Option value is deduced from the value of combination of the negotiable instrument that has the same profit and loss with it.
但实际上，由于价值“漏损”的存在，期权价值与流通证券组合价值之间存在一定的偏差。
In fact, with the existing of leakage in value, there is a certain deviation between them.
澳大利亚的对冲基金与其它地方的对冲基金毫无不同，可以涉及借贷、卖空和非流通证券等领域。
Australian hedge funds are no different from those elsewhere; they can involve borrowing, short-selling, and illiquid securities.
ADR即美国存托凭证，是由美国存托银行向美国的投资者发行的，代表非美国公司股票所有权的一种可流通证券。
ADR American Depositary Receipts, were issued by American Depositary Bank to American investors, which represent, a sort of circulative stocks owned by non American companies.
ADR即美国存托凭证，是由美国存托银行向美国的投资者发行的，代表非美国公司股票所有权的一种可流通证券。
ADR American Depositary Receipts, were issued by American Depositary Bank to American investors, which represent, a sort of circulative stocks owned by non American companies.
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