Registered representative 注册代理人
A person employed by, and soliciting business for, a commission house or futures
commission merchant.
证券经纪公司或期货经纪商雇用或咨询的人。 Repurchase Agreements (or Repo) 回购协议
An agreement between a seller and a buyer, usually in U.S. government securities, in
which the seller agrees to buy back the security at a later date.
卖家和买家的一个协议，通常用于美国政府的有价证券，其中卖家同意在迟些时候买回证
券。
Resistance line 阻力线
A price level above which prices tend not to rise due to selling pressure.
在卖出的压力下价格会达到的一个水平而停止上升。
Reserve Requirements 储备需求
The minimum amount of cash and liquid assets as a percentage of demand deposits and time deposits that member banks of the Federal Reserve are required to maintain. ve
Requirements.
Federal Reserve( 联邦储备 ) 需要他的成员银行保留的现金和流动资产的最小量，作为需
求保证金和时间保证金的一个百分比。
Resistance 价格阻力
A level above which prices have had difficulty penetrating.
价格很难向上冲破的一个水平。
Retracement 背驰
A price move in the opposite direction of a recent trend.
于近期的价格变化趋势相反的运动方向。 Reverse Crush Spread 反变形套利
The sale of soybean futures and the simultaneous purchase of soybean oil and meal
futures. See Crush Spread.
卖出大豆期货合同同时买入豆油和豆粕期货合同。
Risk 风险
Possibility of suffering loss. 遭受损失的可能性。 Round-turn 中介费 See \
见―佣金‖
Runaway gap 逃逸缺口
A gap in prices after a trend has begun that signals the halfway point of a market move.
一个价格趋势开始后价格的一个缺口，标志着价格运动的中途阶段。
S
Scalp 转手买卖所赚薄利
To trade for small gains. Scalping normally involves establishing and liquidating a position
quickly, usually within the same day, hour or even just a few minutes.
为很小的利益交易。交易通常是快速地建仓和平仓，通常是在同一天进行，甚至是在几小时
或几分钟之内。
Selective hedger 选择性避险者
A person who hedges only when he or she believes that prices are likely to move against
him or her.
只有在确信价格对其不利的时候才进行避险的人。
Sell (Sell Order) 卖出 ( 卖出定单 )
An offer. This transaction type indicates to sell or to go short. Opposite of buy or go long.
一个开价。 这种交易类型指的是卖出或看空。 买的相对概念。
Selling climax 恐慌性抛售
An extraordinarily high volume occurring suddenly in a downtrend signaling the end of the
trend.
一个非常高的交易量在下降趋势中突然出现，是这一趋势结束的信号。
Selling Hedge (or Short Hedge) 卖出对冲
Selling futures contracts to protect against possible declining prices of commodities that
will be sold in the future.
商品价格未来可能走低，为了减小损失而卖出期货合同。
Serial options 分期 期权
Options for months for which there are no futures contracts. The underlying futures
contract for a serial option month would be the next nearby futures contract.
为没有期货合同的月份而准备的期权。这种分期期权的原生期货合同是接下来的近期期货合
同。
Session (market) 交易盘（市场）
For a given class, period of time within which a consistent set of trading actions takes place –usually composed of the following phases: initialization, pre-opening/opening,
trading, closing, post-session processing.
一个给定标准，在一段时间内进行一致的贸易活动。通常包括以下几个步骤：初始，预开 /
开盘，交易，收盘，盘后处理。
Settlement price 结算价
A figure determined by the closing range that is used to calculate gains and losses in futures market accounts, performance bond calls and invoice prices for deliveries. See
\
一个由收市价格范围所决定的价格，用来计算在期货市场的账目获利和损失，为了交割而进
行催缴欠款和单据价格。 见―收市价格范围‖。
Short 卖出
One who has sold a futures contract to establish a market position and who has not yet
closed out this position through an offsetting procedure. The opposite of long.
一个人卖出期货合同而建仓，并且还没有进行清仓。买的反义词。
Short cash 卖出现金
Describes a trader who needs and plans to buy a commodity.
指一个交易者需要并打算购买一种商品。
Short hedge 卖出对冲
The sale of a futures contract in anticipation of a later cash market sale. Used to eliminate or lessen the possible decline in value of ownership of an approximately equal amount of
the cash financial instrument or physical commodity. See \
为了将来的现货市场出售而卖出的期货合同。用来避免或降低自己拥有的等价的金融 商品
或现货会贬值的可能性。 Short Options Value 卖出期权价值
The total cost of purchasing back all short options on a marked-to-market basis.
买回所有卖出期权的逐日计算的成本的总和。
Side 方
A side counts the buy and the sell as separate events. Each matched trades, and each contract, has two sides —the buyer side and the seller side. Taken together, these two
sides equal one round turn per unit of volume.
买进和卖出是独立的双方。每对成功的交易，每个合同，都包括两方—买的一方和卖的一方。
它们结合在一起，双方就等于一个交易的成交量。
Sideways trend 横摆趋势
Seen in a bar chart when prices tend not to go above or below a certain range of levels.
在一个条形图表中，价格运动不能高过或低于一个确定的范围。
Simulated Trading 模拟交易
The process of buying and selling without actually entering the market or risk any real
funds.
不在市场中进行，没有任何实际资金风险的买卖过程。 Single-stock futures (SSF) 单一股票期货（ SSF ）
Futures contracts on individual stocks. 只对一种股票进行交易的期货合同。
Spread 价差组合
An options position established by purchasing one option and selling another option of the
same class, but of a different series.
通过买入和卖出同级的期权而建立的期权盘口，但两个期权是不同的系列。
Speculator 投机者
One who attempts to anticipate price changes and, through buying and selling futures contracts, aims to make profits. Does not use the futures market in connection with the
production, processing, marketing or handling of a product.
预期价格波动，进行买卖期货合同从而获利的人。不是用期货市场进行生产、交易和处理产
品的人。 Spot 现价
Usually refers to a cash market price for a physical commodity that is available for
immediate delivery.
通常指一个可以立即进行交易的货物的市场价格。
Spot month 现货月
The nearest trading month which may or may not be the current calendar month. Usually
used as the current delivery month for a commodity.
最近的交易月份，可以是也可以不是当月。通常指现货可以进行交易的月份。
Spot price 当前价格 See \
见―现价‖
Stop close only order 收盘时抛售订单
A stop order that is executed only during the closing range of the trading session.
只有在交易盘要结束的范围内才执行的防损订单。
Stop loss 止 损
Order type: Same as stop limit, but with no limit indication: when triggered, will execute like
an MBF.
订单类型：与停止限价相同，但是没有限定指数：当达到指定价格，就会被执行，像 MBF 一
样。
Strike (price) 期货执行价格
The price at which the option buyer may purchase or sell the underlying futures contract
upon exercise. See \期权买家在交割时买卖指定期货合同的价格。
Supply 供应
The quantity of a commodity that producers are willing to provide to the market at a given
price.
生产者愿意以一定价格提供给市场的商品的数量。
Support 支撑线