本文对衍生证券的定价理论进行了论述。
This paper summarizes the pricing theory of derivative securities.
准确地为金融衍生证券定价是金融交易市场规避风险的迫切需要。
To precisely price the financial derivative security is imperative necessity of avoiding the risk in the financial market.
作者主要讨论了标的资产为不可交易情形下衍生证券的定价问题。
In this paper, we mainly discuss the derivative security pricing problem for the untradable underlying assert.
更复杂的债务证券，包括大部分今天的不良抵押品，以及衍生证券和股权，将按照市价计价。
More complicated debt securities, including most of today's toxic detritus, as well as derivatives and equities, would be carried at market prices.
作为一个历史悠久的美国较保守的借贷公司，它避开了最有害的房贷和其衍生证券。
Long one of America's more conservative lenders, it avoided the most noxious property loans and securities.
指买入或卖出一种衍生证券(如期权或期货)以对冲部分或全部所持其它证券风险的行为。
The purchase or sale of a derivative security (such as options or futures) in order to reduce or neutralize all or some portion of the risk of holding another security.
当市场是完备时，任意衍生证券的现值等于该证券未来收益折现值在等价鞅测度下的数学期望。
When the market is complete, the present value of any derivative security is equivalent to mathematical expectation of its underlying profit discount value under equivalent martingale measurement.
同市场观察员们一样，董事会成员们虽然意识到了次贷泡沫，但并非发现金融衍生证券产品中隐藏的风险。
Directors, like most market observers, were aware of the subprime bubble but failed to spot the risks in related derivative securities.
虽然贝尔斯登还没有确认持有的是哪一类衍生证券，我们可以从这些基金几个月前致客户的信函中窥得一些特点。
Although Bear Stearns has not yet admitted which versions of these derivatives it held, one can glean some characteristics from letters the funds sent to investors months ago.
首先，外界广泛报道，贝尔斯登旗下的对冲基金是在基于次级抵押贷款、评级较高的金融衍生证券上出现的亏损。
First, it has been widely reported that the Bear Stearns hedge funds lost money on highly rated derivative securities based on subprime mortgages.
在伪蒙特卡罗模拟应用于金融衍生证券定价过程中，标准维纳过程的构造方法对模拟估计的效果具有十分重要的影响。
Methods for constructing standard Winner Process can have a very important influence on estimation result of Monte Carlo simulation in the course of pricing financial derivative securities.
与欧洲美元衍生证券类似，国库券合约以$1，000，000的金额标准化，以至于每张合约的每个基本点变动引起价格变动$25。
Similar to the Eurodollar derivative, the T-bill contract is standardized to an amount of $1,000,000 so that each basis point change in the price (or rate) is worth $25 per contract.
运营着最大期货交易市场的纽约泛欧证券交易所和美国芝加哥交易所集团正筹划着为场外信用衍生产品提供结算服务。
NYSE Euronext and CME Group, which runs the biggest futures exchange, are among those working on plans to offer over-the-counter clearing for credit derivatives.
对于美国次级债及其证券衍生品携带的风险，评级机构并未及时发出警告。
The ratings agencies failed to sound the alarm in time on the risks carried by U.S. subprime mortgages and the securitized and derivatives products based on them.
的衍生品交易，欧洲期货交易所(Eurex)，还有更近被泛欧交易所(Euronext)收购的伦敦国际金融期货即选择权交易所——都在努力着从美国的证券交易中尽量多捞一杯羹。
Rse's derivatives arm, Eurex, and more recently Euronext's LIFFE exchange-have been trying to grab a bigger share of American securities trading.
（美国财政部）证券及交易委员会正在调查从荷兰银行衍生的AACapital公司是否侵占了客户1.1亿美元的资金。
The Securities and Exchange Commission is looking into whether AA Capital, a buy-out fund spun out from ABN Amro, a Dutch bank, misappropriated $11m of its clients' money.
国际金融公司想要管理基金，募集资本，交易证券，包括股份、债权和衍生品。
The global firms would like to manage funds, raise capital and trade securities, including shares, debt and derivatives.
作为欧盟单一金融服务市场计划的一个重要因素，这项指令囊括了包括股票，债券和衍生工具在内的证券的批发和零售交易。
An important element of the EU's plan for a single market in financial services, the directive embraces both wholesale and retail trading in securities, including shares, bonds and derivatives.
监管者应该承担起一个任务，即了解衍生品与合成证券，如果无法充分评估它们的系统性风险，就拒绝让它们被创造出来。
It will be the task of regulators to understand derivatives and synthetic securities and refuse to allow their creation if they cannot fully evaluate their systemic risks.
更甚者，管理者错误的相信金融衍生品的使用及资产借贷捆绑作为有价证券这两者已经将风险平摊到整个系统。
To make matters worse, regulators wrongly believed that the use of derivatives, and the bundling of property loans into securities, had spread risk evenly throughout the system.
要求衍生品与合成证券进行登记简单而有效，但目前正在考虑的法案并没有纳入任何这类要求。
Requiring derivatives and synthetic securities to be registered would be simple and effective; yet the legislation currently under consideration contains no such requirement.
证交会表明这些衍生品给了这个对冲基金激励去挑选会出问题的抵押担保证券。
The SEC argues that these derivatives gave the hedge fund an incentive to select mortgage securities that would bomb.
这些证券可能包括股票、债券、共同基金或衍生工具如期权和期货。
These securities may include stocks, bonds, mutual funds, or derivatives such as options and futures.
证交会表明这些衍生品给了这个对冲基金激励去挑选会出问题的抵押担保证券。
The SEC argues that these derivatives gave the hedge fund an incentive to select mortgage securities that would bomb. And bomb they did.
例如，当利息走势不好的时候，拥有大量固定利息证券和衍生产品的银行很可能会受到重挫。
A bank with a very large portfolio of fixed-interest securities and derivatives, for example, would lose a bundle if interest rates went the wrong way.
在传统证券业务中，佣金和服务费水平一直面临着压力，如同斯密所讲述的那样。但在结构性衍生品交易领域，情况却完全相反。
Whereas in traditional securities businesses, commissions and fees have been under pressure in a way that Smith would recognise, the opposite is true in structured derivatives trades.
许多大型银行都是金融市场的老手，包括衍生性金融产品及证券化资产市场。
Many large banking organizations are sophisticated participants in financial markets, including the markets for derivatives and securitized assets.
许多大型银行都是金融市场的老手，包括衍生性金融产品及证券化资产市场。
Many large banking organizations are sophisticated participants in financial markets, including the markets for derivatives and securitized assets.
应用推荐