BBC news——What is a City trading job like?

  1. What is a City trading job like?  金融公司的交易工作是什么样的工作
  2. Trading is one of the most coveted jobs in the financial markets.  交易是金融界最神秘的一种工作
  3. make tens of millions of dollars for his company every year  每年赚大量的钱
  4. take home vast bonuses.  带来丰厚的奖金
  5. It is a stressful job  一项有压力的工作
  6. One wrong move and your profits can be wiped out, your reputation destroyed and your job gone。  一步走错,利润就消失了,信誉也没有了,并且工作也会丢了。
  7. organised into units or desks,  被分成单元或者组
  8. based around different financial products including bonds, stocks and currencies  按照不同的金融产品,包括
  9. Using the bank’s funds  以银行的基金为例
  10. the more experienced traders will be able to take positions -有经验的交易员有能力占有有力的位置,
  11.  or bets  on which way they think the price of a particular product is going.或者说根据他们认为的产品走势去下注。
  12. A common way of doing that is a futures contract.  一种常见的做法就是未来合同。
  13. Simply put, a trader will promise to buy or sell a product at a certain price at a certain time.  简而言之,一个交易员将保证去买或者卖一个产品在一个将来的特定时间
  14. the price of oil is rising, from today’s price of $75 a barrel, he might promise to buy oil at $75 in 3 months’ time.  石油的价格正在上涨,从今天的一桶75美元,他可能会承诺在未来的三个月内在75美元的价位购买石油。
  15. f he is right and oil hits $100, then he has made $25.  如果他是对的,石油的价格到达100美元,那样他赚到了25美元。
  16. If oil falls to $50, then he will have to pay the difference, $25. Or worse, it could fall to $25 and he’s lost $50.  如果石油降到了50美元,那么他将不得不支付差价,25美元,或者更糟,也可能跌到25美元,那么他损失了50美元。
  17. In reality, a fast-changing market means a trader can see his profits wiped out in seconds and his position quickly plunge into the loss-making zone.  实际上,变化莫测的市场意味着交易员可能眼看着的他的利润在数秒之内消失,有力位置迅速陷入没有利益的地带。
  18. So banks have checks to make sure they do not get into serious trouble.  因此,银行例行检查来保证他们不会陷入严重的麻烦。
  19. Traders will have managers who will monitor their staff’s activities.  交易员由经理来监管他们的交易行为。
  20. If they think a position is too risky, they will tell the trader to close it.  如果他们认为位置的风险太大,他们会告诉交易员去放弃掉。
  21. There is also a unit known as the "back office"  还有另外一个单位被叫做后台。
  22. These are non-trading staff who calculate the day’s trading and try to work out how much the bank is making or losing.  那里有非交易人员来叫算每一天的交易和近两区计算出银行正在获得利润和损失。
  23. Senior managers will look at those numbers and make sure the bank is not taking on too much risk.  高级经理会察看这些数字,来确保以行并没有持有过大的风险。
  24. But the system can break down, as in the case of Barings in 1995.  但是这样的体系也会崩溃,例如1995年巴里银行的案件
  25. There, Nick Leeson was able to hide huge losses, as he was the trader and manager and looked after the back office.   在那里,他可以掩盖巨额损失,因为他即是交易员又是经理察看后台
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