Allowing companies to hedge their risks is the whole point of the instrument. But if the rules favour them over financial companies, trading will tend to migrate towards them, and away from Banks.

该工具的全部意义在于让公司规避风险，但是如果规则对最终使用者更加有利，而不是金融公司；那么交易就会转向他们，同时远离银行。

youdao

The money market consists of a collection of market , each trading a distinctly different financial instrument.

货币市场包括了一系列的市场，每个市场交易的是一种完全不同的金融工具。

youdao

Water right trading is an effectual instrument for allocating water resources, and estimates of the water price are the primary factor affecting the trading.

水权交易是实现水资源有效配置的手段，而交易水价的估算又是进行水权交易的重要依据。

youdao

And over in Moscow, a new trading record was set on the RTS Index future contract, the most liquid instrument of the Russian financial market.

FORBES: Europe Markets Brief

In particular, it may be difficult to determine whether principal risk has been retained because (i) the retention of such risk is necessary to provide intermediation and liquidity services for a relevant financial instrument or (ii) the position is part of a speculative trading strategy designed to realize profits from price movements in retained principal risk.

FORBES: Volcker Rule Trumps Euro Euphoria For Financal Sector Outlook