清算机构

Ebay正打造“卵子交易所”（Eggschange），一个针对多余卵子的清算机构。

Ebay is modelling Eggschange - a clearing house for surplus ova .

第三，无需使用第三方、或向银行（或清算机构）支付费用，就可以进行交易。

Third , transactions can occur without the need to use third parties , or pay fees to a bank or clearing house .

合并后的控股公司暂命名为日本交易所集团（japanexchangegroup），旗下将拥有四块业务，运营一个现货股票市场、一个衍生品市场、一个监管部门和一家清算机构。

The combined holding company , tentatively named the Japan exchange group , will have four separate businesses operating a cash equity market , a derivatives market , a regulatory unit and a clearing company .

似乎可以肯定的是，监管者会通过让银行与基金在交易所或通过清算机构进行交易，迫使CDS市场公开。交易所或清算机构将监督并公布交易情况。

It seems certain that regulators will force CDS to become a public market by making banks and funds trade them on exchanges or through clearing houses , which will oversee and publish trades .

根据匹兹堡协议，最迟在2012年年末，所有“标准化的”场外衍生品合约都应根据需要在交易所或电子交易平台上交易，并通过清算机构或中央结算对手（ccp）清算。

Under the Pittsburgh agreement , all " standardised " OTC derivative contracts should be traded on exchanges or electronic trading platforms , where appropriate , and cleared through clearing houses , or " CCPs " , by the end of 2012 at the latest .

第二，多纳休提出，拥有雷曼风险敞口的买方市场参与者的经历，可能会促使他们成为dtcc和其他清算机构的会员。

Second , Mr Donahue suggests the experience of Buyside market participants with Lehman exposures could lead to them becoming members of DTCC and other clearing houses .

我们必须通过受到监管的清算机构，委托进行标准化衍生品的清算。

We must mandate the clearing of standardised derivatives through regulated clearing houses .

但是，它是重要的是你要选择一个好的信用卡债务清算机构。

However , it 's important that you select a good credit card debt settlement agency .

出于类似理由，澳大利亚表示，该国不太可能成立一家国内场外交易清算机构。

For similar reasons , Australia says it is unlikely to build a domestic OTC clearer .

如果各方都拒绝施以援手，那么银行家就要对银行债务清算机构负责。

If there turned out to be no rescue , then they would be liable to the liquidator .

不过，它现在已经提出设立两个门槛，来决定进行场外衍生品交易的非金融企业是否需要使用清算机构。

However , it now proposes setting two thresholds to determine whether non-financial users of OTC derivatives need to use clearing .

由于缺乏一个中央清算机构，无法保证交易各方货款两讫，导致这种金融合约的风险很大。

The absence of a central clearer has made such contracts risky since there is no guarantee that parties will pay out .

清算机构是交易双方之间的一座桥梁，保证即使有一方违约，交易也会进行下去。

A clearer stands between two parties to a trade , guaranteeing that a trade goes ahead even if one party defaults .

它需要建立一个适当的清算机构最好是以准公用事业单位的形式运营以鼓励尽可能广泛的市场应用。

It needs to build a proper clearing house and preferably one run as a quasi-utility , to encourage widest possible market use .

因此迄今为止，美国人和欧洲人甚至没有就信贷衍生品清算机构设在哪里达成一致。

Thus far , the Americans and Europeans have not even managed to agree on where a clearing house for credit derivatives should sit .

利用场外衍生品对冲业务风险的制造企业等非金融机构，将不必通过清算机构结算。

There will be exemptions from the clearing obligation for non-financial institutions such as manufacturing companies who are using OTC derivatives to hedge business risks .

它们表示，强迫它们利用清算机构处理它们的场外衍生品交易，会导致现金枯竭，进而损害欧洲经济增长。

They said forcing them to process their OTC derivatives trades through clearing houses would cause a drain on cash , hurting European economic growth .

但一些国家不愿建立自己的清算机构，还有另一个原因：出错的风险。

But there is another reason why some countries are hesitant about the idea of building their own clearing houses : the risk of getting it wrong .

成交以后，证券清算机构对买卖双方应收和应付的证券以及资金进行核定计算，进行清算；

After bargain , the securities clearance agency checks and calculates the receivable and payable securities of both parties as well as the capital , and carries on the settlement ;

并非巧合的是，华尔街银行如此卖力地游说监管机构不要迫使它们将更多的衍生品交易转移到交易所和清算机构进行。

It is no coincidence that the Wall Street banks have lobbied with such energy against efforts to force trading of more derivatives on to exchanges and through clearing houses .

这是美国和欧洲的相关改革至关重要的原因之一，这些改革将推动大部分衍生品市场进入交易所或清算机构，并置于监管之下。

That is one reason why the US and European reforms to push as much of the derivatives market on to to exchanges and clearing houses and into sight are vital .

这些规定将要求，标准的场外衍生品都必须通过清算机构结算此举旨在降低场外交易一方违约引起的系统性风险。

The rules will require standard OTC derivatives to be processed through clearing houses a move aimed at reducing systemic risk arising from a default of one party in an OTC deal .

目前，美国和欧洲的政策制定者已一致认同有必要采取行动，他们认为，许多场外衍生品在交易后，已适合通过清算机构进行清算。

So far us and European policymakers have agreed on a need to move as many OTC derivatives that are deemed eligible for clearing through clearing houses after they have been traded .

利用清算机构设定的保证金限制可能也颇具争议；例如，不妨看看保证金限制的变动是如何影响爱尔兰危机的结果的。

And using the margin limits set by clearing houses can also be controversial ; just look , for example , at how shifts in margin limits have affected the outcome of the Irish crisis .

监管法案将迫使更多的场外衍生品通过交易所与电子交易平台进行交易，并迫使它们通过清算机构进行清算，以保护金融系统免受灾难性违约的影响。

They would force more OTC derivatives to be traded on exchanges and electronic trading platforms , and push them through clearing houses to safeguard the financial system against the fallout from a catastrophic default .

美国监管机构推动衍生品从场外交易市场转向清算机构或交易所的行动，也将削减投行的利润&衍生品在投行交易利润中所占比例估计为15%到20%。

The drive by US regulators to push derivatives – which make up an estimated 15-20 per cent of banks ' trading profits – away from over-the-counter markets towards clearing houses and exchanges will also reduce profits .

知情人士表示，高盛高管不仅担心对冲基金的风险累积，而且还担心其它实体，比如即将从银行手中抢走相当大部分衍生品业务的清算机构。

People close to the situation said Goldman executives were concerned about the build-up of risk not just among hedge funds but also other entities , such as the clearing houses set to take much of the derivatives business from banks .

美国国债的优质和高流动性意味着，各机构用它来支持交易的成本相对低廉。银行或清算机构只需少量折减债务价值，以反映信用风险。

The top quality and liquidity of Treasury debt means it can be used to back transactions relatively cheaply , with banks or clearing houses only requiring a small haircut or discount on the value of the debt to reflect credit risks .

分析师们表示，举债成本高企意味着，清算机构可能很快会提高交易商针对西班牙债务需要提供的保证金（即抵押品）金额。此类举动曾导致葡萄牙和爱尔兰危机升级。

Analysts said the elevated level meant that clearing houses could soon raise the amount of margin , or collateral , that traders need to post against Spanish debt , a move that led to the escalation of crises in Portugal and Ireland .

一方面是处置权，允许政府接收破产机构，稳定或者迅速安全地清算该机构。

One is the resolution authority that would allow the government to seize a failing group and stabilise it or liquidate it speedily and safely .