自营商

随后，美联储（Fed）将其最后贷款人支持扩展到具有系统重要性的经纪自营商。

The Federal Reserve then extended its lender-of-last-resort support to systemically important broker-dealers .

第二步是美国大型经纪自营商遭到挤兑：首先是贝尔斯登（BearStearns）在短短几天内就失去了流动性。

The next step was the run on the big US broker-dealers : first Bear Stearns lost its liquidity in days .

但是作为一家经纪自营商，雷曼不受此类监管：美国证交会（SEC）没有相关监管手段。

But , as a broker-dealer , Lehman was not subject to such regulation : the SEC did not have the tools .

经纪自营商MFGlobal周一成为欧元区危机在美国的最大受害者。该公司申请破产保护，此前，它曾大举押注欧洲主权债务市场。

MF Global became the largest US casualty of the eurozone crisis on Monday as it filed for bankruptcy protection after making big bets on the European sovereign debt market .

使用SigmaX的有对冲基金、机构投资者、经纪自营商以及高盛的自营部门，每天的交易量逾3亿股。

Sigma X , which is used by hedge funds , institutional investors and broker dealers as well as Goldman Sachs ' trading desks , trades more than 300m shares daily .

美国证交会（SEC）早在1975年就给予评级机构官方地位，作为监管机构评估经纪自营商资本费用的手段。

The ratings agencies were first given official status by the Securities and Exchange Commission in 1975 as a means for regulators to assess capital charges for broker-dealers .

上述罚金包括了向美国证券交易委员会（SEC）支付的2亿美元，从而就瑞银从事未登记经纪自营商和投资顾问业务的诉讼达成和解。

Included in the monetary penalties is a $ 200 million payment to the Securities and Exchange Commission to settle charges that UBS acted as an unregistered broker-dealer and investment adviser .

它还让我想起在1986年的金融去监管化“大变革”（bigbang）之前伦敦金融城的组织方式，当时股票经纪商与股票自营商（现在被称为做市商）分开经营。

It also reminds me of the way the city of London was organised before the big bang deregulation in 1986 , when stock brokers were separated from stock jobbers ( what would now be known as marketmakers ) .

经纪自营商网络LPLFinancial的首席投资官伯特怀特（BurtWhite）表示：市场不会关心绝对数字，而是会关注业绩指引。

The market is not going to care about the absolute numbers , it is going to care about guidance , said Burt White , chief investment officer at LPL Financial , a network of broker-dealers .

从根本上说，这是在质疑金融市场的一个不容置疑的信条，纽约经纪商/自营商JanneyMontgomeryScott的首席固定收益策略师盖伊雷巴斯（GuyLeBas）表示。

This , at its core , is questioning what was an unquestionable tenet of the financial markets , said Guy LeBas , chief fixed-income strategist at New York broker-dealer Janney Montgomery Scott .

该业务将由tdwaterhouse前首席执行官弗兰克帕崔利（frankpetrilli）负责，向包括经纪自营商在内的金融机构，提供交易执行服务和交易所的接入。

The business will be led by Frank Petrilli , former chief executive of TD Waterhouse , and will provide financial institutions , including broker-dealers , with access to trade execution services and exchanges .

狭义影子银行机构不包括那些不提供信贷的实体，比如股票基金，以及被整合至银行集团内部的经纪自营商（broker-dealer）的资产。

This snapshot of the sector excludes entities that are not involved in credit provision such as equity funds , as well as assets of broker-dealers which are consolidated as part of banking groups .

根据美国证交会的规定，经纪自营商（broker-dealer）在执行一笔做空指令时，应当有充分理由相信，在截至日期被做空证券是可以借到并交割的。

Under SEC rules , broker-dealers are supposed to have reasonable grounds to believe that a security can be borrowed and delivered on the due date , before carrying out a short selling order .

一级交易商是经纪自营商；不是银行。

Primary dealers are broker-dealers ; they are not banks .

但是银行和经纪自营商正处于困境中，因为它们的资产正在它们之中崩塌。

But banks and broker-dealers are in trouble because their assets are collapsing under them .

他还代表公司和个人收购及组建过经纪自营商和对冲基金。

He has also represented companies and individuals in the acquisition and formation of broker-dealers and hedge funds .

零售银行业需要有规模和值得信赖的品牌经纪自营商目前在两方面皆有所欠缺。

Retail banking requires scale and a trustworthy brand broker-dealers are a little short of both at the moment .

自营商的利润或损失来自于同一证券的买卖价差。

The dealers profit or loss is the difference between the price paid andthe price received for the same security .

它们都是经纪自营商，其中一些是国际的，比如巴黎国民银行是法国的。

These are broker-dealers some of them are international like BNP Paribas is one of them & it 's French .

雷曼兄弟银行在一份声明中说，他们根据破产法第11章向美国破产法庭申报破产，并不会影响到公司旗下各个经纪自营商子公司和任何子公司。

In a statement , Lehman said its filing for Chapter 11 in U.S. bankruptcy court will not affect its broker-dealer subsidiaries or other units .

它既是经纪人，又是自营商；既是资金的吸纳者，又是使用者。

It is not only a broker , but also a dealer . It is not only a funds absorber , but also a funds user .

因无法平息市场对其在欧洲主权债券敞口上的担忧，这家经纪自营商于10月30日提出破产申请，此后资金缺口估值不断变化。

Estimates of the shortfall have fluctuated since the broker-dealer filed for bankruptcy on October 31 after failing to douse fears over its exposure to European sovereign debt .

经过上个周末，这位资深银行家和华尔街剩下两大经纪自营商的许多其他高管的早晨将会轻松很多。

After the weekend , the mornings of that senior banker and many other executives at the two remaining large Wall Street broker dealers will become a lot easier .

人们对经纪自营商的信心受到了打击；通过成为受监管的银行，高盛和摩根士丹利至少保证了它们不会遭遇与其华尔街竞争对手相同的命运。

Confidence in broker-dealers is shot ; by becoming regulated banks Goldman and Morgan Stanley have at least made sure they will not suffer the same fate as their Wall Street rivals .

信用衍生品看起来有用的第二个理由是，如今交易现金债券的难度大得多，这在一定程度上是因为危机后的监管促使经纪自营商缩减了自己的做市角色。

The second reason why credit derivatives might look useful is that it is much harder today for anyone to trade cash bonds , partly because post-crisis regulations have prompted broker dealers to cut their market-making roles .

他们真正在做的只是，我们正处于金融体系失灵的阶段，所以我们有这种银行，我们刚刚目睹了经纪自营商，贝尔斯登的失败。

What they 're really doing is just we 're facing this seize up of our financial system so we have banks that we 've just seen the failure of Bear Stearns which is actually a broker-dealer .

证交会周一宣布，将永久性实施一条曾经的临时规定，即经纪自营商在卖空股票后，须迅速购买或借得相关股票以备交割，并称将每月公示两次未能交割数据。

The SEC on Monday made permanent a temporary rule requiring broker-dealers quickly to purchase or borrow securities to deliver on a short sale and said it would also publish fails to deliver ' ' data twice a month .