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财政金融英译中翻译样稿

期货网站英译中翻译样稿

Revolutionize the global futures market
为全球期货市场带来一次革命
EverMarkets is a cheaper, fairer, and easier way to trade futures.
EverMarkets是一个更便宜、更公平、更容易地进行期货交易的途径。
open-source blockchain technology
开源的区块链技术
decentralized platform
分散化的平台
emphasis on liquidity provision
强调流动性提供

What are futures?
什么是期货?
Futures contracts are agreements to buy or sell at a fixed price now for delivery at a set date in the future
期货合约是指现在以固定价格买进或卖出而在未来某一特定日期交割的合约。

Futures trading is a $20+ Billion global industry with hubs in Chicago, Shanghai, Frankfurt, Moscow, and Mumbai
期货交易是一个高达20多亿美元的全球产业,在芝加哥、上海、法兰克福、莫斯科和孟买都有期货交易中心。
Its growth trajectory is stunning particularly in China and India
期货的发展轨迹令人惊叹,尤其是在中国和印度
Comparison of major futures exchanges by billions of contracts traded (2016)
各主要期货交易所之间的数十亿交易合约的比较(2016)
Exchange revenues are between $0.60 to $1.60 per contract
每个合约的交易收入在0.60美元至1.60美元之间。

But trading is expensive, global access is difficult, and fees are unfair
但交易费用很高,全球市场准入很困难,收费不公平。
High frequency traders can trade the EMini S&P 500 futures at $0.15/contract
高频次交易者可以按每合约0.15美元来交易EMini S&P 500期货
TDAmeritrade charges retail investors $3.40/contract
TDAmeritrade向散户投资者收取每合约3.40美元的费用

Unlike stock markets, futures markets are heavily monopolized; there is only one place to trade any contract
与股票市场不同的是,期货市场被严重垄断,任何合约只有一个交易地点。
This creates significant market impact costs as the fastest traders can trade ahead of everyone else
这产生了巨大的市场冲击成本,因为最快交易者能够抢在其他人之前交易。

Our goal is to trade any futures contract from around the world, on one platform, at a fraction of today's cost, and with minimal market impact.
我们的目标是在一个平台上,在只需付出今天成本的一小部分而且产生的市场冲击力最小的条件下来交易世界上所有的期货合约。

FAIR MARKET ACCESS
公平的市场准入
You won’t need special contracts, faster servers, or friends in high places to get the best rates and data.  By design all participants are treated equally.
你不需要有特殊的合约,有更快的服务器,或者有位高权重的朋友就能获得最好的价格和数据。根据设计,所有的参与者都享受同等待遇。
VASTLY LOWER FEES
费用大幅降低
Gone are high brokerage, clearing, and exchange fees; by utilizing blockchain technology we can lower costs to the absolute minimum.
高昂的经纪、清算、交易费用一去不复返了;我们利用区块链技术可以把成本降至最低。
GLOBAL PARTICIPATION
全球参与
Without barriers, we allow unprecedented worldwide engagement.  Trade any contract, from Chicago to Shanghai, all on the same platform.
不再有任何障碍,我们可以做到史无前例的全球参与。从芝加哥到上海,任何合约都可在同一个平台上交易。
REAL WORLD FUNGIBILITY
具备真实世界替代性
Our inaugural products are modeled from contracts on traditional exchanges, making the transition as easy as possible for current traders.
我们的初始产品是通过模拟传统交易所合约而得来,因而当前交易者能容易地进行转换。
MINIMAL MARKET IMPACT
最小的市场冲击力
Our call auction microstructure will reduce volatility, improve the execution of large orders, and is less susceptible to “flash crashes”.
我们的集合竞价微结构将减少波动性,改善大订单执行情况,并且不太容易受到“闪电崩盘”的影响。
LEVERAGE DONE RIGHT
很好地利用杠杆
Our market-based approach to margin allows traders to utilize leverage while controlling for dangerous counterparty-risk.
我们采取以市场为基础的盈利方法,从而使交易者可以很好地利用杠杆,同时控制危险的对手风险。

Introducing The EVR Token
引入EVR代币(The EVR Token)
A unit of transaction, settlement, and administration
一个交易、结算和管理的单位

Traders use tokens to take risk.  When purchasing a futures contract, a trader makes a bet on the price of an instrument at a future expiration time.  When expiry occurs, traders are paid out the difference of the price at purchase and the price at the expiry, denominated in our token.
交易者使用代币来承担风险。在购买期货合约时,交易者对未来到期时间的金融工具价格做出预期并按预期价格购买。当到期时,交易者支付购买时价格和到期时价格之差,并用我们的代币来计价。

Margin syndicates accept collateral and provide leverage.  They are implemented as smart contracts within our system, which means that they can be trusted entities despite having no particular owner.  They accept collateral from traders, permit them certain amounts of leverage, and charge them a fee for this service.
保证金辛迪加(Margin syndicates)接受抵押品并提供杠杆。它们在我们的系统中是作为智能合约来实现的,这意味着尽管它们没有特定的所有者,但它们可以是可信任的实体。它们接受交易者的抵押品,允许交易者获得一定数量的杠杆,并向他们收取这项服务的费用。

Leverage is provided by token holders who act as lenders within the syndicate.  Lender deposit their coins in a margin syndicate and are paid from the traders’ fees.  Lending is not without risk: staked tokens are the primary backstop against counterparty risk.
代币持有者在辛迪加中作为贷方提供杠杆。贷方将其代币存入保证金辛迪加,并从交易者的费用中支付。贷款并非没有风险:抵押代币是对抗交易对手风险的主要保证。

Matching engines accept and match orders for a specific futures contract, and ensure the stability of markets.  They charge a per-contract transaction fee to traders.
撮合交易引擎(Matching engines)接受和匹配特定期货合约的订单,并确保市场的稳定性。他们向交易者按每份合约收取交易费。

Token holders can also earn money by joining a matching engine.  Matching engine members vote on contract parameters like price bands, order types, crossing times, and settlement procedures.  They are paid a fee on expiry conditional on a successful and stable market.
代币持有者也可以通过加入撮合交易引擎来赚钱。撮合交易引擎的成员就诸如价格带、订单类型、交叉时间和结算程序等合约参数进行投票。他们在成功和稳定的市场条件下支付到期费用。

Transactions are crossed using a pro-rata call auction.
交易是通过按比例的集合竞价的方式进行。
This algorithm reduces price volatility by allowing more time for supply-demand imbalances to equalize.  It also removes a dependence on speed, preventing participants from trading ahead of large orders.
该算法通过给予更多的时间来缓解供需不平衡状况,从而降低价格的波动性。它也消除了对速度的依赖,阻止了参与者在大订单之前进行交易。

For a deeper dive into how our platform works, please download our white paper.
欲深入了解我们的平台如何运作,请下载我们的白皮书。

A Focus On Liquidity
强调流动性
A central part of our strategy is building liquidity from the start.  Here's how.
我们战略的核心部分是从一开始就建立起流动性。采取的策略是。

ACHIEVING LEGITIMACY
取得合法性
We intend on working fully with the CFTC and other regulators on creating a legal method of trading futures on our platform.
我们的计划是,与商品期货交易委员会和其他监管机构开展充分的合作,在我们的平台上创造一种合法的期货交易方法。
Our goal is not to subvert existing exchanges, but to introduce a blockchain-based paradigm which would benefit all traders.
我们的目标不是颠覆现有的期货交易所,而是引入对所有交易者有利的区块链模式。

HEDGING CRYPTO-RISK
套期保值加密—风险
The volatility of crypto-currencies in recent years present risks which many traders may not want exposure to. Our contracts are designed to be neutral against crypto- movements.
近年来,加密货币的波动性带来了许多交易者可能不想接受的风险。我们将合约设计成中立的可防止加密变动的合约。
While our contracts may track real world commodities like oil or soybean, they are all denominated and payable in our platform’s token only at the time of expiration. This means that you only have crypto- exposure on expiry day, at which point it is possible to immediately trade out if desired.
虽然我们的合约可跟踪像石油或大豆这样的真实世界商品,但它们只在到期时才按我们的平台代币来计价和支付。这意味着,你只有在到期日才会使用密码,而且如果需要的话,在这个时候就可以立即进行交易。

OPEN SOURCE PLATFORM
开源平台
Our platform technology will be open source, with regular audits. We hope that this will alleviate any reservations to trading on a decentralized platform, and enforce trust amongst potentially anonymous parties.
我们的平台技术将是开源的,并进行定期审计。我们希望借此消除人们对于在分散式平台上交易的一切顾虑,并加强潜在的匿名参与者之间的信任。

LIQUIDITY PROVISION TEAM
流动性提供团队
With experience in data science and market making, we will spinoff a small quantitative trading team aimed solely at providing liquidity and reducing supply-demand imbalances.
借助我们在数据科学和市场营销方面的经验,我们将另外建立一个量化交易小团队,唯一的目的是提供流动性和降低供需不平衡。
This team will be compensated based on unmatched volume they are able to cross, and will not have unfair access to data or technology.
该团队将根据他们能够交叉交易的无法匹配量来获取报酬,并且不会不公平地获取数据或技术。

MARKETING & SALES
市场营销和销售
A large portion of our budget is allocated towards the hiring of dedicated sales and marketing personnel, whose job is to attract interest from institutional investors.
我们预算中的很大一部分用于聘用专门的市场营销人员和销售人员,他们的工作是吸引机构投资者的兴趣。
We also allocate a portion of our tokens towards our liquidity provider program, which subsidizes the on-boarding of dedicated liquidity providers.
我们也将一部分代币分配给我们的流动性提供者计划,为有奉献精神的流动性提供者的进入提供补贴。

MARKET STABILITY
市场稳定性
We will conduct rigorous and regular stress tests against our code, platform, and any associated infrastructure.
我们将对我们的代码、平台和任何相关的基础设施进行严格、定期的压力测试。
We will also adopt the suspension, halt, and price limit / banding approaches which many exchanges use.
我们还将采用很多交易所使用的暂停、中止和限价/捆绑等方法。

Token Sale
代币销售
More details on our upcoming token sale will be announced in the coming weeks.
关于即将到来的代币销售的更多细节将在未来几周内公布。
Sign up to receive news about our project and the sale as it happens.
请注册,以实时接收我们的项目和销售消息。
Early subscribers will receive preferential token sale access and special bonus awards.
早期用户将获得代币销售优惠和特别奖金。

Our Team
我们的团队
We are a team of technologists from San Francisco and quantitative traders from Chicago.
我们是一个由来自旧金山的技术员和来自芝加哥的量化交易员组成的团队。
We run on ambition and dedication, and are always looking for new additions to our team.
我们胸怀远大抱负,具备奉献精神,并一直在为我们的团队寻找以补充新的血液。

 

MILESTONES
里程碑
What we hope to accomplish at various sale amounts
为了达成各种销售金额目标我们所期望做到的

Generic platform for user-described futures. Matching engine and margin syndicate
用户描述期货的通用平台。撮合交易引擎和保证金辛迪加
Headcount: 4
员工人数:4人

Trading of CME fungible contracts. Legal expenses for US trading. Support for trading liquid CME futures (includes oracles)
芝加哥商品交易所(CME)互换合约的交易。美国交易的法律费用。支持具流动性的芝加哥商品交易所期货交易(包括甲骨文)

Market making ES, start of China trading
开展标准普尔期货(ES)的市场推广,开始中国的交易
Small internal market making team for E-Mini S&P 500 (ES) futures, Legal expenses for China trading, Support for subset of one Chinese exchange, Small American sales & marketing team
为E-Mini S&P 500 (ES)期货建立一个小型的内部市场团队,中国交易的法律费用,支持一个中国交易所的子集,美国小型销售和市场营销团队

Market making global contracts, expansion to Europe
开展全球合约的市场推广,扩大到欧洲
Support for all China exchanges and Eurex. Internal market making on ES, CL, EuroStoxx 50, and subset of Chinese contracts. Larger American sales & marketing team; small overseas effort
支持所有中国交易所和欧洲期货交易所。对标准普尔(ES)期货、原油(CL)期货、Eurostoxx 50期货和中国合约子集开展内部市场推广。大型美国销售和市场营销团队;海外小规模的推广工作

Worldwide support
全世界范围内的支持
Support for all liquid futures contracts around the world. Internal market making in as many liquid futures as possible. Expansive international sales & marketing effort
支持全世界所有的具流动性的期货合约。尽可能多地对具流动性的期货进行内部市场推广。广泛的国际销售和市场推广工作

Expansion into other asset classes and more
扩展到其他的和更多的资产类型
Expansion into single stock futures and options.Exciting plans still under wraps -- to be revealed!
扩展到单一股票期货和期权。令人兴奋的计划仍在保密之中——有待揭晓!


TEAM
团队

9 years at Citigroup & Graham Capital
在花旗集团(Citigroup)和Graham Capital公司工作9年
Trades commodity futures with personal capital
用个人资本进行商品期货交易
Founded machine learning startup
创建机器学习初创企业
B.S. Computer Science, Carnegie Mellon University
卡内基梅隆大学计算机科学专业,本科理学学位


Technologist
技术专家
7 years at Microsoft & Amazon, Founded several finance and social startups, Early cryptocurrency investor, B.S. Computer Science, Duke University
在微软和亚马逊工作7年,创立了几个金融和社会初创企业,早期的加密货币投资者,杜克大学计算机科学专业,本科理学学位

Technologist
技术专家
11 Years Leading Software Development
有11年领导软件开发的经验
Co-founded Push Computing
合伙创建了Push Computing公司
Led firm in acquisition by MobileIron
领导公司接受MobileIron的收购
Founded machine learning startup with Jim
与吉姆一起创建机器学习初创企业
M.S. Computer Science, Stanford University
斯坦福大学计算机科学专业,硕士理学学位

Quantitative Research
定量研究
10 years at Citadel Investment Group, Managed flow-facing execution strategies, Developed mid to high frequency alpha models, M.S. Information Networking, Carnegie Mellon University
在城堡投资集团(Citadel Investment Group)工作10年,管理“面向流动”(flow-facing)执行策略,开发了中高频阿尔法模型,卡内基梅隆大学信息网络建设专业硕士理学学位


Advisor
顾问
16+ years leadership in quantitative finance
16年以上的量化金融方面的领导工作
Was Managing Director at Citadel Investment Group, Was Managing Director at Knight Capital Group, Built largest dark pool in the U.S., October 2008, M.S. Computer Science, Stanford University
曾任城堡投资集团的董事总经理,骑士资本集团(Knight Capital Group)的董事总经理,2008年10月在美国建立了最大的暗池,斯坦福大学计算机科学专业,硕士理学学位

15+ years at Goldman Sachs, Citadel Investment Group, and Radix Trading
在高盛公司(Goldman Sachs)、城堡投资集团和Radix Trading 公司工作15年以上
Alpha research and portfolio implementation at GS and Radix
在高盛公司和Radix Trading 公司开展了阿尔法研究和投资组合实施
Head of execution strategy at Citadel
城堡投资集团的执行战略负责人
B.S. Computational Finance, Carnegie Mellon University
卡内基梅隆大学计算金融专业,本科理学学位

Founded discretionary macro fund Abingdon Global after 15+ years of futures trading experience
经过15年以上的期货交易经历后,建立了自由型宏观基金“阿宾登全球基金”(Abingdon Global)
Managed capital for Brevan Howard, Graham Capital, AT Global, and Goldman Sachs Asset Management
为Brevan Howard资产管理公司、Graham Capital资本管理公司、AT Global公司和高盛资产管理公司等管理资产
B.S. Economics, Vassar College
瓦萨学院经济学专业,本科理学学位

Portfolio Manager at Capstone Investment Advisors, 10+ years trading experience at Citi and Millennium Management, Trades volatility strategies in futures space
顶点投资咨询公司(Capstone Investment Advisors)的投资组合经理,10年以上在花旗和千禧管理公司(Millennium Management)的交易经验,在期货期权领域的交易波动性战略。
M.S. Financial Engineering, Columbia University
哥伦比亚大学金融工程专业,硕士理学学位

Chief Investment Officer at Linnis, a systematic CTA
名为Linnis的程序化商品交易顾问基金公司的首席投资官
12+ years Portfolio Management experience at Linnis, Capula, and BlackRock
在linnis基金公司、Capula投资管理公司和贝莱德集团(BlackRock)工作了12年以上,积累了丰富的投资组合管理经验
Specialist in systematic futures trading and market structure
是程序化期货交易和市场结构方面的专家
M.S. Computer Science, Cornell University
康奈尔大学计算机科学专业,硕士理学学位

 

 

ROADMAP
路线图
We have an ambitious three year plan in place
我们已经制定了一个雄心勃勃的三年计划。

2017 is the year of beginnings.  We architected the platform, conducted a token sale, and started building the team.
2017年是计划启动的第一年。我们设计了平台,进行了代币销售,并开始建立团队。

Launch of website & initial marketing efforts
网站的启动和初期的营销推广
After months of planning, we formally announce our project to the world. Community outreach is a large part of building a platform and we are excited to get things underway. Besides email communication, we have a slack channel, a subreddit, and a post on bitcointalk to reach us.
经过几个月的计划,我们正式向世界宣布了我们的项目。社区推广是搭建平台的一个重要组成部分,我们很兴奋能让工作顺利进行。除了电子邮件通信外,还有一个松散的渠道,即子版块(subreddit),以及一个BitcoinTalk邮箱可以联系到我们。

Public token sale
公共代币销售
Our public token sale is estimated to start around late August and end in September. Subject to change; more details to come. Shoot us an email if you're interested in participating in our pre-sale.

我们的公共代币销售预计在8月末开始,九月结束。具体视情况变化而定;将会发布更多细节。如果您有兴趣参加我们的售前会议,请发电子邮件给我们。
Onboard market data and infrastructure developers
获取市场数据和开始基础设施开发
Our first priority will be to purchase historical market data for the major American, European, and Asian exchanges. We plan to have a presence in futures from all three continents as quickly as possible.
我们的首要任务将是为美国、欧洲和亚洲的主要期货交易所购买历史数据。我们计划尽快地在三大洲的期货交易所中占据一席之地。

Additional developers will also be needed to build research and production infrastructure for our liquidity provision team. We need to emphasize our liquidity team early on, as it will take time to clean market data, build a research suite, and write predictive alpha models. We both platform and liquidity teams to proceed in tandem.
还需要更多的开发人员来为我们的流动性供应团队建立研究和生产基础设施。我们需要尽早地重点发展我们的流动性团队,因为清理市场数据、建立研究室和编写阿尔法预测模型等工作都需要时间。我们同时建立平台和发展流动性团队。

Onboard sales and marketing
管理销售和市场营销
We plan to start hiring sales & marketing personnel towards the end of the year. It is crucial to start building relationships early with institutional investors and liquidity providing firms.
我们计划年底前招聘销售人员和市场营销人员。至关重要的是要尽早与机构投资者和流动性提供公司建立关系。


Initial beta release
最初的测试版本
The planned beta release of our platform will be in Q1 2018.
我们的平台计划的测试版本将在2018年第一季度发布。
We plan to have three auctions a day, and our inaugural contract to be analogous to the E-Mini S&P 500 future.
我们计划有一个三天的竞价,我们的初始合约与E-Mini S&P 500期货类似。

Initial market making on CME
在芝加哥商品交易所(CME)的初步市场推广
Our market making team will be putting out their first models in the Spring of 2018 for the E-Mini S&P 500.
我们的市场团队将在2018年春季推出他们第一个E-Mini S&P 500期货模型。

Additional CME-fungible products
额外的芝加哥商品交易所可互换产品
Our beta platform will be progressing nicely and we will be adding additional CME-fungible products. We will be targeting Crude Oil (WTI), EUR/USD, and Gold futures as the next few rollouts.
我们将大力推进测试平台的建设,我们将增加额外的芝加哥商品交易所可互换产品。我们接下来推出的目标产品是原油(WTI)、欧元/美元和黄金期货等。

Introduce Chinese exchanges
进入中国的交易所
We want to start trading futures fungible with Chinese exchanges as quickly as possible. Our first Chinese contract will be trading around mid-2018. The identity of the contract itself is still to be determined.
我们希望尽快开始与中国交易所可互换交易期货。我们的第一个中国的合约大概将在2018年年中开始交易。合约本身的身份仍有待确定。

Risk assessment
风险评估
In preparation for our formal launch, we plan to hire outside firms to help us do a full security and risk assessment.
为做好正式启动的准备工作,我们计划聘请外部公司来帮助我们进行全面的安全评估与风险评估。

We also hope to start testing the platform against some less liquid products, to make sure we are as robust as possible against all scenarios.
我们还希望开始对一些流动性较差的产品进行测试,以确保我们在所有情况下都实现最大程度的稳健性。


Rollout Eurex-fungible contract
推出欧洲期货交易所的可互换合约
We plan to rollout liquid European futures in the Fall of 2018, starting with the EuroStoxx 50 index futures.
我们计划在2018年秋天推出欧洲具有流动性的期货,从EuroStoxx 50指数期货开始。

Formal launch of V1.0
正式启动V1.0
We plan to formally launch about a year after our token sale. We plan to facilitate trading at least three auctions/day on at least a dozen of most liquid contracts across CME, Eurex, China Financial Futures, Shanghai, and the Dalian Commodity Exchanges.
我们计划在我们的代币销售开展一年后正式启动。我们计划在芝加哥商品交易所、欧洲期货交易所、中国金融期货交易所、上海期货交易所和大连商品交易所推动至少每天有三个竞价的交易,达成至少十几个最具流动性的合约。

Our liquidity provision team will aim to fill at least 50% of orders which would normally go unfilled in the US.
我们的流动性供应团队的目标是至少执行50%的订单,而这些订单通常在美国是未执行的。

Expanding our global reach
进一步开拓全球市场
During this year we plan to target additional exchanges around the world, such as ICE, BM&F Bovespa, Moscow, Zhengzhou Commodity, Osaka, Bombay, and Singapore Exchanges.
在这一年里,我们计划以全世界更多的交易所为目标进行市场开拓,例如洲际交易所(ICE)、巴西证券期货交易所(BM&FBovespa)、莫斯科交易所、郑州商品交易所、大阪证券交易所、孟买证券交易所和新加坡交易所等。

Check-in on market share
占据市场份额
By mid-year we hope to be trading 1% of the volumes in the most liquid CME futures, and at least .5% in the contracts we target in Eurex and the Chinese exchanges.
到年中的时候,我们希望能够在最具流动性的芝加哥商品交易所(CME)期货交易量中的占比达到1%,而在我们的目标合约中欧洲期货交易所和中国交易所至少能够占到5%。

Liquidity provision target
流动性提供目标
Though our focus is on international expansion, we will not forget about liquidity. Our aggressive target is to be filling close to 65% of auction imbalances by Fall of 2019.
虽然我们的重点是开拓全球市场,但我们不会忘记流动性。我们雄心勃勃的目标是到2019年底填补将近65%的竞价不平衡。

Pivot into growth
实现增长的关键转向
Towards the end of 2019 we will pivot into growth mode, ramping up marketing budgets for customers to trade against our existing exchanges.
到2019年的年底,我们将进行关键转向,转向增长模式,逐步增加市场预算以帮助客户在我们现有的交易所进行交易。

We plan to be breaking 1.5% of market share in the US, and 1% in Europe and Asia at this time for the contracts we target. Our aggressive goals will be to double these in the following year.
我们计划在这个时期使我们的目标合约在美国突破1.5%的市场份额,在欧洲和亚洲则突破1%的市场份额。在接下来的一年我们将实现市场份额翻一番的积极目标。