一级交易商

一级交易商是什么？

What is a primary dealer ?

近几个月来，有9家银行在美国、英国和欧洲获得了一级交易商地位。

In recent months , nine banks have won primary dealer status in the US , UK and Europe .

纽约联储不仅对MFGlobal适用了低标准，而且还在取消其一级交易商地位时行动迟缓。

The New York Fed not only applied low standards to MF Global but was also slow to rescind the privilege .

它同时表示，将把投行和其它一级交易商（primarydealers）使用应急现金和国债贷款的期限延长至明年1月30日。

It also said it would give investment banks and other primary dealers extended access to emergency cash and loans of Treasury securities until January 30 .

一级交易商是经纪自营商；不是银行。

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

你需要知道一级交易商是什么。

You have to know what are primary dealers .

但是，一级交易商在执行政策和培育市场信心方面发挥着关键作用。

But primary dealers play a vital role in carrying out policy and instilling market confidence .

一级交易商信贷工具是，对会员银行贴现窗口的一种扩展。

What the PDCF is it 's really an extension of the discount window beyond member banks .

美联储表示，“鉴于金融市场持续脆弱的境况”，将其支持对象的范围扩展到一级交易商。

The Fed said it was extending its support to primary dealers " in light of continued fragile circumstances in financial markets " .

让我们期盼纽约联储会吸取教训、提高一级交易商审批标准，把重点放在质量而非数量上。

Let us hope the New York Fed will learn a lesson and upgrade its primary dealer standards with a focus on quality over quantity .

一级交易商居然这样行事，如何能作为合作伙伴，世人怀疑纽约联储的审查能力。

That a primary dealer could be so leveraged may well prompt questions about the New York Fed 's scrutiny of firms it routinely deals with .

一级交易商信贷工具中，最本质的东西是，他们将会员银行的贴现窗口，向一级交易商打开了。

What 's essential about the Primary Dealer Credit Facility is that they 're opening up the discount window of lending beyond the member bank to primary dealers .

他本周说，此类项目很有希望，因为它们避开了银行和一级交易商，直接向关键信贷市场的贷款者或投资者提供了流动性。

' Such programs are promising because they sidestep banks and primary dealers to provide liquidity directly to borrowers or investors in key credit markets , 'he said this week .

美联储的最新举措旨在通过允许一级交易商以抵押担保证券交换美国国债其后以此筹措现金来缓解金融市场中的流动性压力。

The latest Fed move is designed to ease liquidity strains in financial markets by allowing primary dealers to swap their mortgage-backed securities for Treasuries , which they can in turn use to raise cash .

这促使许多银行想方设法获得一级交易商地位这将使它们有权直接参与国债拍卖，从而能够通过买卖国债牟利。

This has prompted many banks to seek primary dealer status , which gives them the right to take part directly in government bond auctions , allowing them to buy and sell securities for a profit .

该行称，其中大部分是短期国债因为野村是一级交易商83%将在明年3月前到期。

Most of this was in the form of short-term government bonds , because of its status as a primary dealer , and 83 per cent of its holdings matures by March next year , the bank said .

一家一级交易商的一名要求不具名的交易员表示，中国在美国国债发售时下单购买的做法去年停止，他们的直接竞购加大了判断承销国债拍卖成功与否的难度。

A trader at a primary dealer who asked not to be identified said orders for Treasury purchases from China at auctions stopped last year and that their direct bidding had made it harder to judge the success of underwriting sales .

市场正对另一家获批的一级交易商进行自己的风险评估。

The market is undertaking its own risk assessment of another approved primary dealer .

纽约联储选出一批精英机构作为一级交易商，来执行货币政策，分销美国国债后者是联邦公开市场委员会（fomc）操作的一部分。

The New York Fed selects an elite group of primary dealers to carry out monetary policy , distributing US debt as part of its Federal Open Market Committee operations .