| 1. | Convertible bond arbitrage
可换股债券套戥 |
| 2. | It was expected that these interest arbitrage trades would lead to further reductions in the size of the aggregate balance
预期这些利息套戥交易将会使总结馀进一步减少，同时银行同业拆息可能会进一步上升。 |
| 3. | It could also be opened up on a freely competitive basis , under close monitoring by safe as far as foreign exchange transactions are concerned
有关的套戥活动亦可留待市场来进行，外汇局则只须密切监察其中涉及的外汇交易。 |
| 4. | Today , if you are adept at judging the chances that a corporate takeover will go through , you can make good money running an investment fund devoted to merger arbitrage
今天，如果你对于判断一宗收购交易能否成功有着敏锐的嗅觉，那么经营一家专门从事合并套戥的投资基金将会让你赚得盆满钵满。 |
| 5. | In the first few days of april , there had been some selling of hk dollars in the market in an attempt to exploit short - term arbitrage opportunities , and the hkma sold some us dollars under the convertibility undertaking
在4月初首几日，市场上曾有一些短期套戥的港元沽盘，金管局因而根据兑换保证售出一些美元。 |
| 6. | But i suspect that if an effective mechanism for arbitrage appears , market expectation would then be strong enough to help bring about price equalisation , lessening the need for actual arbitrage activities
然而，我相信若真的设立有效的套戥机制，届时市场对价格趋于一致的预期会有助平衡两地的价格，从而减低进行套戥活动的需要。 |
| 7. | This may require the involvement of the state administration of foreign exchange safe and could be conducted by a specially established public organisation on a non - profit basis , conducting arbitrage whenever a significant exchange - rate - adjusted price differential appears
这或许需要国家外汇管理局外汇局的参与，并可以由特设的非牟利公共机构负责，在经汇率调整后的价格出现显著差距时进行套戥。 |
| 8. | So long as the rates remained different , allowing transferability between cis and the aggregate balance would give the note issuing banks an option to convert the two components into us dollars at different convertibility rates , leading to arbitrage opportunities
在两者统一前，容许负债证明书和总结馀之间进行转换，便可让发钞银行有权选择按不同汇率将这两个货币基础的组成部分兑换成为美元，以进行套戥。 |
| 9. | Such arbitrage opportunities , however , would not close the gap between the market exchange rate and the linked rate of 7 . 80 , since the hkma would stand ready to convert the aggregate balance at a rate stronger than 7 . 80 until the convertibility rate converged to 7 . 80
尽管如此，但由于在兑换汇率尚未统一前金管局都会以较7 . 80为强的汇率兑换总结馀，因此上述套戥活动不会令市场汇率和联系汇率之间的差距消失。 |
