International Finance and its Markets
The word "finance" signifies capital in monetary form, that is in the form of funds lent or borrowed,normally for capital purposes, through financial markets or financial institutions. When finance goes international, it is then an international finance.
Financial market is a place where financial transactions take place.When a financial transaction takes place between a resident of a country and a non-resident, it is an international financial transaction, and the place where the transaction is traded is called an international financial market.
金融，就是以貨幣形式表示的資本，換句話說，就是通常為了資本目 的通過金融市場或金融機構(gòu)已借貸資金形式構(gòu)成的資本。當金融國際化了，就成了國際金融。金融市場就是各種金融交易發(fā)生的場所。當一筆金融業(yè)務(wù)發(fā)生在一個國家的居民和非居民之間，就成了國際金融業(yè)務(wù)，而這筆交易發(fā)生的場所就是國際金融市場。
Normally a financial market consists of foreign exchange market, money market, bond market and equity market.The last two markets usually fall into the category of securities market or capital market.
通常，金融市場包括外匯市場、貨幣市場、債券市場和股票市場。債券市場和股票市場又統(tǒng)稱為資本市場。
Foreign exchange market deals with the exchanges of different means of payment.Because the relative values among different currencies will fluctuate according to economic and political circumstances of the currencies of the relative countries, foreign exchange markets provide services for international investors or financiers such as forward transactions and foreign currency futures to eliminate such risks.
外匯市場處理不同支付手段的兌換。由于不同貨幣之間的相對價值會 隨著相關(guān)國家經(jīng)濟和政治情況的變化而波動，外匯市場為國際投資者和融 資家減少風(fēng)險而提供了一些服務(wù)，例如遠期交易、外匯期貨等。
Most of the savings and investment transfers take place in the domestic market of a country.However, domestic investors may purchase foreign securities and may invest in foreign financial institutions.Strictly speaking,it is a "foreign" financial market. A significnat aspect of such international transactions is that all transcations are directly subject to the rules, usance, institutional arrangements, offcial policy governing foreign transcations in the respective domestic markets.
大多數(shù)儲蓄和投資業(yè)務(wù)是發(fā)生在一國的國內(nèi)市場。但是，國內(nèi)的投資者也可以購買外國證券和在外國金融機構(gòu)內(nèi)投資。嚴格的說，這是“外國”金融市場�！巴鈬苯鹑谑袌龅囊粋�顯著特征就是，所有交易都直接受各自國內(nèi)市場的規(guī)章、管理、機構(gòu)協(xié)議以及有關(guān)國外交易的官方政策的制約。
The Euromarket, which is defined as a market where financial instruments traded are denominated in currencies other than the currency of the country where the market is located.It is, in the true sense, an external financial market.The important distinction between the external financial market and the domestic financial market lies in that Eurocurrecy banking is not subject to domistic banking regulations. Today the Euromarket has become an indispensable element of the international financial market.
歐洲市場，就是在該市場上交易的金融工具都是用歐洲貨幣來標價而 不是用市場所在地國家的貨幣來標價。歐洲市場是真正意義上的境外金融市場。境外金融市場和國內(nèi)金融市場的重要區(qū)別是歐洲貨幣銀行業(yè)務(wù)不受國內(nèi)銀行規(guī)章制度的管轄。今天，歐洲市場已成為國際金融市場不可分割的一個部分。
|
