信用交易

Derivatives also create a daisy-chain risk that is akin to the risk run by insurers or reinsurers that lay off much of their business with others. In both cases, huge receivables from many counterparties tend to build up over time.(At Gen Re Securities, we still have $6.5 billion of receivables, though we've been in a liquidation mode for nearly a year.) A participant may see himself as prudent, believing his large credit exposures to be diversified and therefore not dangerous. Under certain circumstances, though, an exogenous event that causes the receivable from Company A to go bad will also affect those from Companies B through Z. History teaches us that a crisis often causes problems to correlate in a manner undreamed of in more tranquil times.

衍生性金融商品交易也有可能造成骨牌效应的风险，这是因为许多保险业及再保业者习惯将风险分散给其它保险公司，在这类的情况下，钜额的应收款项将随着交易对象的日趋复杂而持续累积，(以通用再保证券来说，虽然已经经过将近一年的清算期，目前仍有高达65亿美元的应收款项流通在外)，交易的一方或许对于自己相当有信心，认为其钜额的信用风险已经经过适度的分散，因此不会发生任何危险，只有等到某种特殊状况下，一个外部事件导致 A 公司的应收帐款发生问题，从而影响 B 公司，乃至于一路到 Z 公司，历史教训告诉我们危机的发生往往是我们在太平盛世时所梦想不到一连串问题串连所导致的。

The need to meet this demand can then throw the company into a liquidity crisis that may, in some cases, trigger still more downgrades. It all becomes a spiral that can lead to a corporate meltdown. Derivatives also create a daisy-chain risk that is akin to the risk run by insurers or reinsurers that lay off much of their business with others. In both cases, huge receivables from many counterparties tend to build up over time.(At Gen Re Securities, we still have $6.5 billion of receivables, though we've been in a liquidation mode for nearly a year.) A participant may see himself as prudent, believing his large credit exposures to be diversified and therefore not dangerous. Under certain circumstances, though, an exogenous event that causes the receivable from Company A to go bad will also affect those from Companies B through Z. History teaches us that a crisis often causes problems to correlate in a manner undreamed of in more tranquil times.

衍生性金融商品交易也有可能造成骨牌效应的风险，这是因为许多保险业及再保业者习惯将风险分散给其它保险公司，在这类的情况下，钜额的应收款项将随着交易对象的日趋复杂而持续累积，(以通用再保证券来说，虽然已经经过将近一年的清算期，目前仍有高达 65 亿美元的应收款项流通在外)，交易的一方或许对于自己相当有信心，认为其钜额的信用风险已经经过适度的分散，因此不会发生任何危险，只有等到某种特殊状况下，一个外部事件导致 A 公司的应收帐款发生问题，从而影响 B 公司，乃至于一路到 Z 公司，历史教训告诉我们危机的发生往往是我们在太平盛世时所梦想不到一连串问题串连所导致的。

Participation in the Stock Exchange issued a notice measurement firms, the explicit reference to various types of financing margin trading and securities transfer, the customer credit account with the Securities and pin No.

在交易所发出通知参加测试的企业，明确提及融资保证金交易和证券转让各类客户的信用账户与证券及引脚号与有关保证金融资，清算资金交易的利益保证金交易结算，市场和关闭后数据接口测试，证券保证金融资机构，例如实时功能测试，6个测试的内容。

According to the modern western economics theory, under the environment of bad credit, because of the unsymmetry of information, out of the inclination to maximize his own interests, the economic subject will disobey credit among the market trade course, thus raise the trade risk and transaction cost and reduce economic operational efficiency.

根据现代西方经济学理论，在不良信用环境下，由于信息的不对称性，出于自身利益最大化的倾向，经济主体在市场交易过程中会产生违信行为，从而提高交易风险与交易成本，降低经济运行效率。

Article 20 A financial institution shall properly and reasonably decrease the credit risks by adopting guaranties and other measures to decrease the credit risks, select appropriate methods and models to assess the credit risks and take corresponding risk control measures.

第二十条金融机构应适当合理地运用担保等各种信用风险缓解措施来减少交易对手的信用风险，选择适当的方法和模型对信用风险进行评估，并采取相应的风险控制措施。

Compared with other credit derivatives, the difference is that Credit-Linked Note is a kind of credit derivatives which refers to inflow of the capital, namely the protection buyer takes in the principal of the note in advance, get guarantee for the reference asset, thus need not to undertake the default risk of investor. In this way, issuer can avoid the counterparty risk.

与其它信用衍生产品不同的是，信用联系型票据是一种融资性的信用衍生产品，即保护买方事先从投资者手中收取了票据的本金，为参照资产取得了保障，从而不必承担投资者违约的风险，这样就避免了交易对手风险。

The author thought that we should establish information evaluation company adapted to China's characters to offer the credit information for market entity and to resolve the problem of unequal credit information between bargainers.

作者认为应该在加快《信用法》立法的基础上，创建有中国特色的信用信息评估公司来为市场主体提供所需的信用信息，以解决交易双方信用信息的不对称性问题。

Many major governments produce credit chits, but credit chips or credit sticks were commonly used as well. These debit based systems can be used for electronic sales through interchip exchanges.

虽然许多主要的星系政府都发行信用保证单进行流通，但是信用晶片和信用棒同样被广泛使用，这些基础信贷系统可以通过电子交易进行兑换。

This paper analyzes the trade cost composing of construction project bidding on statutes, beforehand cost and forewords cost, credit system, information asymmetry aspects.

本文从法规、事前费用和事后费用、信用机制、信息不对称几个角度对工程项目招标投标的交易成本构成进行了分析，指出了目前我国工程建设领域招标投标中存在的问题及其对交易成本的影响，并相应提出了降低交易成本的措施和思路。

Both the buyer and the seller should be familiar with not only the money amount , but with the amount and quality of the product or service to be exchanged , the time and place at which the exchange will take place and payment will be made , the form of money to be used , the credit terms and discounts that apply to the transaction , guarantees on the product or service , delivery nerms , re-turn privileges , and other factors .

买卖双方不但要清楚交易中的钱额，而且要通晓被交易的产品或服务的质量的数量，进行交易的时间，地点，支付的款项，采用何种形式付款，交易中的信用条款和折扣，以及对产品或服务的保证，交货条款，退赔权利等其它的因素。

Breath, muscle contraction of the buttocks; arch body, as far as possible to hold his head, right leg straight towards the ceiling (peg-leg knee in order to avoid muscle tension).

呼气，收缩臀部肌肉；拱起身体，尽量抬起头来，右腿伸直朝向天花板（膝微屈，以避免肌肉紧张）。

The cost of moving grain food products was unchanged from May, but year over year are up 8%.

粮食产品的运输费用与5月份相比没有变化，但却比去年同期高8％。