This model is independent of the hypothesis of stock elementary value and effective market, and can explain the phenomenon of invalid market proposed by prevailing finance.

这个模型不依赖对证券基础价值的假设，也不依赖市场有效性的假设，可以解释针对主流金融学提出的市场无效现象。

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Special institutional and market factors have led to a lot of inefficiency or even invalid merger.

特殊的体制和市场因素导致了很多低效甚至无效的并购。

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Dependent order is invalid e. g. stop price is higher than the market price for stop limit order at the time it is activated.

在您的连随指令启动时，您的指令无效（例如：限价止蚀沽盘所设定的止蚀价较当时市价为高） 。

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And more than a third of those are frozen in Singapore's Central Limit Order Book, an offshore market declared invalid by Malaysia last year.

ECONOMIST: Malaysia��s stockmarket: Ready, steady | The