Ex. II. Look through these excerpts and then fill the spaces with words from the box. Translate the text into Russian.
Date: 2015-10-07; view: 375.
Ex. I. Look at the words in the box, all of which are from this unit. Match the words with the correct definition from the list below.
VOCABULARY PRACTICE
| limit order, floor broker, fixed commission, bid quotation, stop order, spread, broker-dealer, specialist, asked quotation, negotiated commission |
1. Member of a stock exchange who maintains a fair and orderly market in one or more securities.
2. Order to a securities broker to buy or sell at the market price once the security has traded at a specified price.
3. Certain fee paid to a broker for a given sized trade.
4. Member of an exchange who is an employee of a member firm and executes orders, as agent, on the floor of the exchange for clients.
5. Order to buy or sell a security at a specified price or bet-
6. Individual or firm operating both as brokers and principals.
7. Fee paid to a broker for executing a trade which is determined through bargaining.
8. The highest price a prospective buyer is prepared to pay at a particular time for a trading unit of a given security.
9. Difference between the high and low price of a particular security over a given period.
10. Price at which a security is offered for sale on an exchange.
| negotiated commissions, limit order, to execute trade off the NYSE, preserve price continuity, executing orders, over-the-counter market, fixed commissions, charged the same commission, listed securities |
I. One reason the Exchange is currently a healthy, nourishing institution is because of a charge that was bitterly opposed by many of the members a decade ago. Before 1975, commissions paid to brokers for ... (1) were fixed according to a uniform schedule set by the Exchange. Every member firm ... (2) for a given sized trade. As a result, the institutional customers began to ... (3) through brokers who were not Exchange members and who charged more realistically. This ... (4) for ... (5) became known as the "third market". In 1975, over the protests of many members, ... (6) were abolished and the era of... (7) began.
| be executed, listed company, execute the trade, RR, place an order, is confirmed, handle the customer's order, made available, account executive |
II. When investors buy or sell shares of... (1), they contact a retail broker (also known as ... (2) or ... (3)) who is an employee of the member firm. The registered representative can ... (4) in two ways. In some cases, the account executive notifies a broker on the NYSE trading floor who ... (5) on behalf of the customer. Information about this transaction is then ... (6) worldwide. And the trade ... (7) in seconds. Customers orders can also ... (8) and processed electronically through a computerized order-routing system that completes the trading loop within seconds.
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| TRADING ON THE STOCK EXCHANGE FLOOR | | | Ex. III. Translate the following texts into English making use of the active vocabulary. |