[Analyst]: Employees of securities companies or fund management companies are mainly responsible for analyzing and studying different companies and making suggestions on the trading of their stocks. Most of them are concentrated in individual industries.

[Insider information]: information that has not been made public within the company. It is illegal for information holders to use information for sale.

[Stop-loss Order]: When the stock falls to a certain price, the customer gives an instruction to sell the stock.

Stop loss/take profit; [Stop-loss Order/Stop-loss Order]: An order to buy or sell a stock when the stock price reaches a specified price.

Parity/Equivalence [by price]: If the agreed price of an option is equal to the market price of its related securities, the option belongs to parity.

[Lead Bank]: Commercial banks or investment banks are mainly responsible for organizing syndicated loans or issuing bonds. At the same time, they will join hands with other lending or underwriting banks to discuss relevant details with issuers and analyze the market situation.

[Opening Order]: an order to buy/sell securities at the exercise price, which is valid until exercise, cancellation or price change.

[Open Contract]: The number of open contracts of options-it can show the liquidity of options.

Market: generally refers to the stock market, which can be divided into two categories: primary and secondary markets, which buy and sell different stocks respectively. String 3

[Market Order]: Buying and selling a security at the current market price.

Market price: refers to the market price of securities and the final market price of securities sold. At this price, the buyer is willing to buy and the seller is willing to sell.

[Market value]: the price of securities in the market.

P/E ratio: The market price of a stock divided by the current or predicted future earnings per share. P/E ratio is a commonly used index in investment analysis. Generally speaking, the lower the P/E ratio, the better, because a low P/E ratio means that the market price is low or the profit is high.

Repurchase: It has the same definition as the repurchase agreement.

Repurchase/Repurchase Agreement: An agreement to buy and sell shares, in which the buyer and the seller promise to buy back the shares at a specified date and price.

Return: the annual return on investment.

[Execution]: refers to the trading process of buying/selling securities.

[Transaction]: Buying securities from another party in the form of oral agreement (or electronic transaction). Once the transaction is completed, the bank's transaction is called "completion" or confirmation.

[Trader]: A person who frequently buys and sells stocks for his account.

[Trading Range]: the difference between the trading price in a certain period of time and the upper and lower limits of the commodity trading price on any day.

[Transaction cost]: the cost of managing the portfolio, especially the securities fee and stamp duty.

Exercise: Option holders exercise the right to subscribe or sell related securities (when bullish). [Exercise Price]: the price at which the relevant futures or options contracts can be bought or sold.

Joint venture/joint venture: an enterprise operated jointly by two or more investors.

[Consolidation]: The buyer purchases all the assets and liabilities of the seller at the same time in the acquisition activity. Simply put, it is the merger of the two companies.

[Leading indicator]: used as an economic indicator to predict the future trend of the market.

Takeover: A company gains control by buying shares in another company.

Rate of return/income/dividend yield [yield]: the percentage of stock return, distributed in the form of dividends, or the actual interest rate of bonds.

[Acquisition]: refers to the acquisition of another company by one company.

[Today's Order]: refers to the order for buying and selling securities. If the order cannot be closed on the day of issue, the order will automatically become invalid.

[intraday trading]: refers to the activity of buying and selling stocks in the same trading day.

[Commission]: the basic fee paid to the broker for executing the transaction, which is calculated according to the quantity and/or par value of stocks, bonds and options.

[Earnings per share]: refers to the company's net income divided by the number of ordinary shares issued.

[Investment]: Buy assets to earn profits.

[Investment Bank]: An intermediary agency that provides various services, including assisting in the sale of securities, merger and reorganization of companies, and trading securities for individuals and corporate clients as brokers.

[Portfolio]: A series of investment projects, securities and/or financial instruments.

[Speculator]: In the non-recurring income contract, in order to earn profits, he is willing to bear large and undivided risks. Speculators will not care about the company's production, operation, marketing or product handling. See: Trader.

Turnover: refers to the number of transactions in a certain period, which can be the total number of transactions in the market or the turnover of a single stock, bond, futures and option contract.

Selling price [asking price]: The lowest price that investors are willing to sell their shares. Basically, this is the buying price at which investors can buy stocks.

Selling price/asking price [asking price]: the price at which a securities company sells its securities, also known as selling price or issue price.

[Short Selling]: If investors think that the stock market will fall, they will borrow shares from brokers and sell them. Finally, investors must buy back shares in the open market.

[Dividend]: Part of the profits distributed by the company to general shareholders and preferred shareholders.

[Equity]: The company's net asset value is the difference between the company's total assets and total liabilities, including common shares and preferred shares.

[Share]: refers to the certificate issued by the company to shareholders as a share, which proves the rights and obligations to the company.

Stock: the general term for securities and stocks. Holding shares is equivalent to holding the ownership of the company, and shares are part of the company's assets and profits.

[Expiration]: The option contract is terminated.

[Maturity date]: the last day (American option) or the only day (European option) of the option exercise right.

[Financial Futures]: Buying some assets according to the selling price of financial instruments on a specific date in the future indicated in the futures contract.

Effective order before cancellation/[good' til cancelled]: Also known as "GTC", it refers to the order to buy or sell stocks, which is effective before cancellation.

Long [long]: refers to investors who buy stocks but fail to close their positions through selling.

Short position: an investor holds a certain stock, but borrows other people's stock as a short position, and then uses his own stock to close the position afterwards.

Offset: used to offset contracts with opposite positions.

Volatility: the volatility of stock prices, exchange rates and interest rates. The greater the volatility, the greater the investor's uncertainty about the return, so the volatility can be used to calculate risk.

[American option]: A kind of option. Buyers can exercise their rights before or on the expiration date of the option.

Breakthrough: the stock price breaks through the resistance level or falls below the support level, indicating that the stock price will continue to run in the same direction. This is the index that technical analysts often use to buy and sell securities.

Debt (to shareholders' equity) ratio [debt/equity ratio]: financial leverage indicator. Compare the assets of creditors and shareholders. This is the number of long-term liabilities divided by general shareholders' equity.

Liabilities: Liabilities (shared by the company and shareholders). String 9

(IPO, IPO): The company sold its shares to the public for the first time.

Margin/margin/"margin": the margin paid by investors to brokers or exchanges in margin trading, futures and options trading. It can prevent traders from defaulting and reduce the losses of brokers or exchanges.

[Additional margin]: additional funds are needed due to price changes.

[Position]: it is a market agreement, which means that the number of transactions cannot be offset by other transactions. The buyer is called a long position and the seller is called a short position.

[Risk]: The standard deviation of the total return on investment can show the instability of the return on an asset.

Arbitrator: A person who seeks and explores arbitrage opportunities.

[Arbitrage]: Buying and selling the same securities at two different prices in two different markets, so as to gain profits and avoid risks.

Custodian [Custodian]: The role of financial institutions (such as securities companies) in keeping assets on behalf of customers.

Custody/Custody: The securities owned by an investment company are actually entrusted to others for custody.

[Target]: refers to commodities or financial assets that must be delivered when futures or options contracts are executed, such as stocks, futures contracts or cash indexes.

"Rare market": refers to a market with large bid-ask spread and sparse transactions. (A quiet market)

[Basis point]: The smallest unit used in the bond market to calculate the change of the income level of fixed-income securities. Every percentage point of bond yield is based on 100. Basis points can also be used for interest rate calculation. 0.0 1% is equal to one basis point. String 2

Basic margin requirements: the amount of margin paid by both parties to futures and options trading at the time of trading shall be paid at the target price at the time of trading.

Cash market: also known as cash market. Refers to the market where securities and commodities are delivered immediately.

Holding company/parent company/holding company/shareholding company [holding company]: Holding a certain number of shares in another company, and controlling the management and administrative operation of the company by influencing or electing members of the board of directors.

[Lead Underwriter]: It is a syndicate composed of several banks, among which the lead bank is responsible for IPO or secondary IPO.

Bid price/bid price [bid price]: The highest price that investors are willing to pay for a security. This is the price at which investors can sell shares.

[Bid-ask spread]: refers to the difference between the buying price and the selling price.

Buy: Buy assets as long positions.

Futures: refers to the promise of buyers and sellers to deliver a certain quality commodity or financial bill at a certain price in a certain time in the future.

[Option]: The contract indicates that the buyer has the right, but not the responsibility, to buy or sell assets at the contract price on or before the expiration date.

[Last Trading Day]: the last day of the settlement month allowed by futures or options contracts. The final trading day of the contract must be settled in cash, financial instruments or according to the agreement of the futures contract.

[One-way market]: A market that only quotes the buying price or selling price. One-way market. [Retail]: Individual and institutional investors, as opposed to brokers and securities companies.

[Settlement]: the act of paying at the time of transaction.

Settlement Date: the date when the transaction must be settled after the transaction is completed.

[Opening Price]: The transaction price of the first transaction of a security after the trading activity starts.

Quote: Brokers are willing to buy and sell securities at a certain price.

[Assets]: Property or articles acquired by commercial institutions through past trading activities.

Capital: Capital invested in a company.

[Capitalization]: The total amount of various securities issued by a company multiplied by the price of the securities.

Capital liabilities [liabilities]: used to calculate debt figures. It is the ratio of total liabilities to total equity of an individual or company.

[Net asset value]: Total assets of the company minus total liabilities.

[Backstage]: the document operation department of the securities company, which is responsible for providing support, including: all document confirmation and transaction settlement, document recording, and preparation of company rules; But it does not include the trading of stocks or other securities.

Broker/Broker/Broker [Broker]: An intermediary agent who arranges sales on behalf of clients and earns commissions from them, which exists in commodity markets, stock markets, money markets and foreign exchange markets. Brokers usually need to register with a specific institution. For example, a securities broker needs to be registered in the stock exchange to obtain legal agency qualification. String 9

Zero shares: refers to stocks with less than one trading unit.

[Bearer]: A person who bears a stock or the whole stock market.

[Bear market]: Any market where prices are falling. The stock price continues to fall for a period of time, generally at 20% or more. This market situation is called a bear market.

[Call Option]: This is an agreement, which means that the option holder has the right, but not the obligation, to buy a certain amount of certain securities at a specific price (exercise price) within a specific date (term).

Warrant: Warrant is a "right" rather than a responsibility, and the holder can buy and sell "related assets" (such as stocks, indexes, commodities, currencies, etc.). At a certain time, at a certain price.

[Hedging]: It refers to another transaction in the opposite direction on the basis of a transaction that has already occurred, so as to prevent losses caused by changes in interest rates, exchange rates and prices. For example, if the original transaction is damaged, make up for the loss with subsequent transactions.

Leverage ratio: used to measure the degree of debt management of enterprises.

[Maintenance margin requirement]: The margin that must be maintained at the margin account level is generally smaller than the original margin.

[European option]: an option that can only be exercised on the expiration date.

[Hot money]: refers to the international short-term funds that continuously flow in order to chase spreads. If there is no interest rate gap, the funds will be taken away.

In-price: indicates that the exercise price of put option/put option is higher than the price of related futures, or the exercise price of call option/call option is lower than the price of related futures. [Price]: The value of the object.

Price/spread: the difference between the buying and selling of stocks or other securities.

[Quotation]: The price that the seller is willing to sell.

Short selling/shorting/shorting [short]: refers to investors selling securities or commodities that they do not own.

[Short Selling]: This is a speculative activity, which means that when speculators predict that securities will fall, they first sell some securities that they don't own or greatly exceed their holdings, and then choose the right time to cover their positions at a low price in an attempt to make a profit when buying.

[Interval]: the difference between the highest price and the lowest price in a certain trading period.

[Institutional investors]: refers to institutions that conduct a large number of transactions and investments, including insurance companies, deposit institutions, pensions, investment companies, mutual funds, down payment funds, etc.

Buy: buy, hold, hold.

[Share Repurchase]: The company repurchases its own shares in the open market.

[Joint account]: The agreement stipulates that two or more account holders shall share the risks and financial responsibilities of buying and selling securities.

[Blue chip company]: A large and reputable company.

[marketable securities]: refers to the property ownership or creditor's rights with a certain par value.