查询词典 securities market

LUGAR-fund analyst at Galaxy Securities pointed out that dumb, in accordance with the "on the share reform of investment in securities investment funds issue warrants notice," a fund to hold all the warrants, the market value of its net asset value of the Fund shall not exceed 3%.

银河证券基金分析师马永喑指出，按照"关于股权分置改革中证券投资基金投资权证有关问题的通知"，一只基金持有的全部权证，其市值不得超过基金资产净值的3%。

Self Descriotion: Specialize on the legal services in corporate and securities, and financial investments; legal services in capital market, property rights regime and reform, definition and trading of property rights, industry convergence and reform of state management system, etc; legal services on capital operations projects, like joint-stock system reform, issuing and listing of securities (including A shares, B shares, H shares, rationed shares, newly issued shares, convertible loan shares, debenture and fund), and finance; specialized legal services in law-based administration of government departments, foreign investments, corporate acquisitions and reorganizations and insolvency liquidation, etc; legal services in overall planning of large projects and design of significant procedure, and negotiations on projects of overseas financing and investments, etc.

或评价：本人擅长公司与证券、金融投资领域的法律服务项目；资本市场、产权制度与产权改革、产权界定与交易、产业整合、国有资产管理体制改革等领域的法律服务项目；企业股份制改造、证券发行上市（A股、B股、H股、配股、增发新股、可转债、公司债、基金）、金融等资本运作项目；政府机关依法行政、外商投资、企业并购重组、破产清算等领域的专项法律业务；大型项目的整体方案策划与重大流程设计、对外投融资项目谈判等法律服务。

In general, this paper includes several parts, shown as the following: The first part summarizes the background and outline of stock index future and introduce briefly its local status and CSI 300 stock index future contract. The second part has a retrospect of the main academic papers of both local or overseas, and also a discussion of relevant hedge strategies and models, to lay a solid theoretical foundation for the empirical analysis and test for the operation process of hedge in latter parts. The third part outlines the principle, key factors and real operation process of hedge. Moreover, it makes a empirical analysis on popular hedge models with HK Hang Seng index. In the end, it test the hedge effect of trading on IF0706, CSI 300 stock index future contract, with CCB select-growth securities fund as present underlying. The fourth and also the last part, explores how to define hedge ratio in china mainland market. It includes the stability test ofβfor local securities portfolio, adjustment of historicalβand best data length for estimation of historicalβ, etc. Also, the thesis makes some beneficial experiments on the definition of best data length for estimation of historicalβ, survey of fashion forβand variation for industryβs. Fortunately, it's got some meaningful results.

按照以上研究思路，本论文论述由以下几个部分构成：第一部分，简要概述股指期货产生的背景和基本情况，对国内股指期货进程和沪深300股指期货合约进行简单介绍；第二部分，回顾海内外股指期货避险研究的主要文献，讨论相关避险策略及避险模型，为后面套期保值策略如何有效运用的实证分析和检验提供理论基础和依据；第三部分，对套期保值的原理、关键因素及实际流程进行概述，并采用香港恒生指数对常用的几种避险模型进行实证分析，最后一揽子以建信优选成长股票型基金为现货标的，实际检验以沪深300股指期货模拟交易IF0706产品进行对冲时的套期保值效果；第四部分，探讨国内确定避险比率的过程，包括国内股票组合β值的稳定性检验、历史β值的修正及估计历史β值的最佳数据长度等，通过数据分析，本文在寻找估计β值的最佳数据长度和考察风格、行业β值的差异上做了较为有益的尝试，并得到了有助于现实操作的结果。

The first three quarters, shares linked to domestic securities underwriter, CITIC Securities and China International Capital Corporation, Goldman Sachs Gao Hua, Guotai Junan, Guoxin Securities top five, respectively, occupy 30.1%, 29.3%, 14.1%, 11.2%, 3.9% market share.

前三，股票与国内证券承销商，中信证券和中国国际金融有限公司，高盛高华，国泰君安，国信证券前五位，分别占30.1％，29.3％，14.1％宿舍，11.2％，3.9％的市场份额。

According to the Securities Act, other regulations and some successful experience of overseas dealers in financing field, the paper has designed the pattern of "triplicity of financing channel", which includes the securities financing company, the money market and the capital market.

第三章针对券商融资筹措效率问题，根据新《证券法》和《国九条》在制度层面对券商筹资的要求，并借鉴国外券商的成功经验，为我国券商设计了包括证券金融公司、货币市场、资本市场在内的"三位互补"的筹资方式，并在证券金融公司的资金来源上提出了在"合意"基础上有条件使用客户保证金的构想。

In China Taiwan market as represented by two-track system, the securities and financial companies are not living in a monopoly, which is characterized mainly: securities companies and securities and financial transactions in the credit business competition and cooperation.

按双轨制度，证券和金融企业为代表的不是生活在一个垄断的，它的主要特点是：证券公司，证券和信贷业务竞争与合作的金融交易。

Because of insufficient development of bond market, no strict operation of issuing company, no strict inside controlling of domestic securities company and unsymmetry of information in bond issuing market, the A underwriting stocks business risks of domestic securities company inevitably exist.

在高风险的证券业中，作为证券投资、证券市场中介人和服务者的证券公司面临着诸多风险的重大挑战和潜在威胁，受证券市场发育不足，发行公司不规范运作、证券公司内控不严和信息不对称的影响，我国证券公司A股股票承销业务风险有其存在的必然性，因而防范和化解其风险已成为证券公司的一项重要议程。

In our country, the development of capital market just has a short period of time, and its construction emphasis is mostly in Senzhen and Shanghai securities businesses. With the development of socialist market economy, the present gingle market system reveals its limitation increasingly; it must be imperative under the situation to construct capital market system of different arrangement including the second-board market.

我国资本市场发展时间较短，建设的重点主要放在深沪两市场上，随着社会主义市场经济的发展，现有的较为单一的市场体系越来越显出局限性，建设包括二板市场在内的各层次的资本市场体系已势在必行。

Stock market became the most important and absolutely necessary part of securities and financial market after the establishment in China. More and more invertors pay their attentions to stock market. So the analysis and forecast of stock market have not only signification of theory but also merit of application.

股票市场在我国产生以来不断地成长，逐步成为证券业乃至整个金融业必不可少的组成部分，并且受到越来越多投资者的关注，因而对股票市场走势的分析和预测都有重大的理论意义和可观的应用价值。

In recent years, the Great Wall Securities has a hold securities, secondary market for more than 1% market share.

近年来，长城证券始终占有证券一、二级市场1%以上的市场份额。

In the United States, chronic alcoholism and hepatitis C are the most common ones.

在美国，慢性酒精中毒，肝炎是最常见的。

If you have any questions, you can contact me anytime.

如果有任何问题，你可以随时联系我。