交易指令

一旦一条交易指令被执行，将迅速触发一连串新头寸，这导致停止交易的成本非常高。

Once a trade is executed it soon triggers a chain of positions that becomes very expensive to break .

但现在一些交易所试图缩短与交易员之间的距离在他们做出最终交易决定之前的关键时期以向他们出售其他技术，如交易指令传递和市场数据等。

But some are now trying to get closer to traders and during the key period before a final decision to trade is made in order to sell them other technologies such as order routing and market data .

市场上最大的券商之一KnightCapitalGroupInc.说它正在调查软件问题，并告知客户将交易指令发送到其它经纪商。一波集中涌来的交易指令让市场无法消化，并促使交易所暂停了某些证券的交易。

Knight Capital Group Inc. , one of the market 's largest brokerages , said it was probing software problems and told clients to send their orders to other firms as a wave of orders shook the market and prompted exchanges to halt trading in some securities .

这些指令都被截流了，转向骑士公司或其主要竞争对手Citadel公司、花旗（Citigroup）和瑞银（UBS）的电脑系统，由这些系统对汇集的数百万交易指令进行撮合。

Instead , they get cut off , diverted into the computer systems of knight or its main competitors citadel , Citigroup and UBS , which match those with the millions of other orders they collect .

Knight公司首席执行官托马斯•乔伊斯（ThomasJoyce）上周四对彭博（Bloomberg）表示，发生技术问题是由于公司新安装的软件存在缺陷，向市场发出了错误的交易指令。

In the case of Knight , which suffered a loss of $ 440m , Tom Joyce , chief executive , told Bloomberg yesterday the implementation of new software contained a bug that sent erroneous orders into the market .

在不到2小时内，他发出6个e-mini交易指令，在对其进行了1.9万次替换或修改后将其取消，而没有完成任何一笔交易。

In less than two hours he placed six e-mini orders , which were replaced or modified 19,000 times before cancelling them without completing a single trade .

佣金以每次交易指令计算。

Commission is charged on a per order basis .

可以随时更改或取消任何未成交的交易指令。

Can change or cancel your unfilled orders anytime .

必须严格执行投资者的交易指令，在交易完成后，将交易结果转移给委托人承担。

After the transactions , they can transfer the transaction result to their clients .

回购交易指令必须申报证券账户，否则回购申报无效。

Repurchase transaction directions shall report securities accounts ; otherwise the repurchase reporting is invalid .

经纪商会收集交易指令，然后在同一时间执行。

The brokers group together orders for trades and execute them all together at the same time .

然而现如今，交易指令可以通过系统下单完成，只需要几毫秒，就能传递到多个地点。

Now , however , trading is powered by algorithmic trading and occurs in milliseconds across multiple venues .

会员不得隐瞒重要事项或者使用其他不正当手段诱骗客户发出交易指令。

A member may not conceal the important matters or use other unfair means to induce the clients to give trading orders .

市场预期，交易指令是为了执行真实的交易而在诚信基础上发出的，芝加哥商品交易所告诉他。

Orders were expected to be entered in good faith for the purpose of executing bona fide transactions , the CME told him .

由于交易指令的规模之大压过了市场正常的流动性，因此，交易执行时间大为缩短后，股价便被大幅推高或是压低。

The far shorter transaction period pushed prices sharply higher or lower as the scale of the orders overwhelmed the natural liquidity of the market .

其他人说，骑士和其他公司找出个人投资者的交易指令，将这些指令视为简易交易流，更易撮合交易。

Others say knight and others seek out the orders of individual investors because they view those orders as so-called dumb flow and easier to trade against .

同时，我们也许可以借助他们覆盖面广的指令传递网络，将交易指令流引入东盟市场，对这种前景我们也感到兴奋。

We are also excited about the possibilities of leveraging their extensive order routing networks to bring order flow into the Asean markets , said Mr Lim .

交易员们认为，涉及多只股票的大额交易指令在5分钟内就执行完毕，而没有在一整个交易日甚至五个交易日的更长时段内分批进行。

Traders said they believed a large order for a number of stocks was executed in five minutes rather than a longer period of either one or up to five days .

三方的连接使用了电子化“指令路由”系统，这使得其中任意一国的经纪商能够更加便捷地将客户的交易指令传递至另外两国的交易所。

That link uses an electronic " order routing " system enabling brokers in each of the three countries more easily to connect their clients to trading on exchanges in other countries .

之所以东窗事发，拉森说，是因为他在佛罗里达无聊地等待妻子和孩子起床时，下达了几则大额交易指令，结果引起关注。

Mr Larsen said that problems arose when he was bored in Florida waiting for his wife and children to wake up and placed a number of larger trades that ended up attracting attention .

很显然，一位女士在该部门干了很多年后将要离去&我猜是要退休，巴菲特说道：有人编造出了一个指令，给她一个非常大的交易指令。

Apparently a woman was leaving the department after many , many years – retiring , I guess , Buffett said . An order was worked out with somebody , to give her a very large order .

通过复制真人交易员判断其他投资者买卖意向的方式，算法程序发出一连串交易指令（其中很大一部分在执行前被取消），整个过程耗时不足几分之一秒。

By replicating the way human traders ascertain where other investors want to buy and sell stocks , the ALGOS spit out a torrent of orders , many of which are quickly cancelled before a trade is executed , all within fractions of a second .

2003年欧盟通过排放交易权指令，要求各国按照此原则提交国家分配计划，说明该国如何通过排放权的分配，达到京都议定书的减排目标。

In 2003 , EU get across emission trading rights directive . To arrive at the target of Kyoto Protocol , the directive requires each country putting in " national allocation plan " and explaining how to get across the allocation of emission rights .

除了记录交易和传递指令，我还自己操作销售代表传来的客户交易指令。

In addition to taking reports and relaying markets , I traded orders given to our desk by the sales force on behalf of our clients .

交易部门的指令链从高级交易员到交易主管、部门经理，最后一直向上延伸到董事会。

The chain of command on trading floors runs up from senior dealers to desk heads , departmental managers and all the way up to the board .

客户想要买卖证券时，我会找到交易对手执行指令，并向客户销售代表发出“完成”的讯息，由他来通知客户。

If a customer wanted to buy or sell something , I executed the order with the counter-party and relayed the'fill'to the sales person who , in turn , gave a report to the client .

据此，建立单纯利用股票交易数据，在指令驱动系统下中国股市知情交易概率测定模型。

Then this paper models the measurement of probability of informed trading in an order-driven stock market of China on the basis of stock transaction data .

由官方金融机构组成的所谓“国家队”，曾通过该券商在北京的旗舰交易大厅，发出多笔交易指令。

The so-called " national team " of state financial institutions directed many trades through the brokerage 's flagship trading hall in Beijing .

部分高频交易商会发出有效期极短的交易指令，他们其实无意按指令所提交的价格买入或卖出，只是将其作为试探市场定价的一种方式。

Some HFTs place orders for very short periods with no intention of buying or selling at the price submitted as a way of testing market pricing .

客户同意对SNC通过SNC网上交易平台（或类似产品），或电话收到的任何交易指令负责。

Customer agrees to be responsible for any transaction instruction received by SNC either electronically via the SNC Internet Trading Platform ( or similar product ), or orally over the telephone .