经济学人:外汇交易:放规矩点!(2)

 　　It is also designed to reflect current market practice, with clear guidelines on communication between participants and on trade-execution practices 它还旨在反映当前市场实践，在参与者之间的沟通和交易执行操作上有明确的指导准则

　　two areas of weakness highlighted by the scandal. 这是易于纰漏丑闻的两个薄弱环节。

　　Managers of FX traders will now be enjoined¹ to limit access to confidential² information, and to ensure that clear guidance has been given on approved channels of communication. 如今，限制外汇交易者的管理者访问机密信息，确保明确的指示已通过获得批准的通信渠道传达。

　　Greater disclosure is also demanded on how orders are processed, so that clients will never lose oversight³ and control of their trades. 加大信息公开力度，公开订单处理流程，以便客户监督控制其交易。

　　The code will, however, be voluntary. 然而，准则将是自愿性质的。

　　Guy Debelle of the Reserve Bank of Australia, who led the drafting, reckons that to write binding⁴ rules for a global market would have been more convoluted⁵ and less effective. 领导起草的澳大利亚储备银行的盖德·贝贝尔（Guy Debelle）认为，为全球市场撰写具有约束规则，过程更为复杂，然而效果较差。

　　Principles, he argues, are harder to exploit or ignore than rules. 他认为，较规则而言，准则更难谋利，也更难被忽视。

　　Alongside the code itself, the FXWG has developed a blueprint⁶ for adoption⁷, which makes those active in the market responsible for embedding⁸ the code in their day-to-day operations. 除却准则本身，外汇工作小组已经制定了一个适用蓝图，可以让那些市场活跃的参与者将准则融入到日常操作中。

　　Central banks have committed themselves to leading by example, by implementing⁹ the code for their own FX activities. 中央银行已经承诺以身作则，在外汇活动中执行该准则。

　　Consideration is being given to maintaining public registers of those who have signed up. 现在考虑是维护已注册的人的公共登记信息。

　　“I wouldn't underestimate the impact of peer pressure in improving behaviour,” says MrDebelle. 戴姆勒说：“我不会低估同行压力对改善行为的影响。”

　　Given the painfully low level of trust in foreign-exchange and other financial markets, central bankers are adamant¹⁰ that codes like these must not be ignored or allowed to become outdated¹¹. 鉴于外汇和其他金融市场的信任度极低，央行行长强烈表示，这类准则绝不能遭到忽视，也绝不会过时。

　　The new global FX committee will monitor the success of the project and consider the case for further updates. 新的全球外汇委员会将监督该项目的成功实施，并考虑进一步更新。

　　But the incentives¹² for adherence¹³ do not seem compelling. 但本意遵循规则似乎并吸引力不足。

　　Whether the code actually prevents market malfeasance will be determined¹⁴ by the many institutions, large and small, that trade FX each day. 无论准则是否真正防止市场不法行为，将由每天交易外汇的众多大大小小的机构决定。

　　And, as the market has proved in the past, it is important not to underestimate the power of peer pressure to worsen behaviour as well as improve it. 而且，过去市场曾证明，重要的是不要低估同行对改善行为的力量，也不要轻视其恶化行为的压力。

1 enjoined   

v.命令( enjoin的过去式和过去分词 )

参考例句：

• The embezzler was severely punished and enjoined to kick back a portion of the stolen money each month. 贪污犯受到了严厉惩罚，并被责令每月退还部分赃款。 来自《简明英汉词典》
• She enjoined me strictly not to tell anyone else. 她严令我不准告诉其他任何人。 来自辞典例句

2 confidential   

adj.秘（机）密的，表示信任的，担任机密工作的

参考例句：

• He refused to allow his secretary to handle confidential letters.他不让秘书处理机密文件。
• We have a confidential exchange of views.我们推心置腹地交换意见。

3 oversight   

n.勘漏，失察，疏忽

参考例句：

• I consider this a gross oversight on your part.我把这件事看作是你的一大疏忽。
• Your essay was not marked through an oversight on my part.由于我的疏忽你的文章没有打分。

4 binding   

有约束力的，有效的，应遵守的

参考例句：

• The contract was not signed and has no binding force. 合同没有签署因而没有约束力。
• Both sides have agreed that the arbitration will be binding. 双方都赞同仲裁具有约束力。

5 convoluted   

adj.旋绕的；复杂的

参考例句：

• The snake slithered through a convoluted path.蛇在羊肠小道上爬行。
• The policy is so convoluted even college presidents are confused.这项政策太令人费解，甚至连大学校长们也是一头雾水。

6 blueprint   

n.蓝图，设计图，计划；vt.制成蓝图，计划

参考例句：

• All the machine parts on a blueprint must answer each other.设计图上所有的机器部件都应互相配合。
• The documents contain a blueprint for a nuclear device.文件内附有一张核装置的设计蓝图。

7 adoption   

n.采用，采纳，通过；收养

参考例句：

• An adoption agency had sent the boys to two different families.一个收养机构把他们送给两个不同的家庭。
• The adoption of this policy would relieve them of a tremendous burden.采取这一政策会给他们解除一个巨大的负担。

8 embedding   

把…嵌入，埋入( embed的现在分词 )； 植入； 埋置； 包埋

参考例句：

• Data embedding in scrambled Digital video complete source code, has been tested. 数据嵌入在炒数字视频完整的源代码，已经过测试。
• Embedding large portions of C++ code in string literals is very awkward. 将大部分C++代码嵌入到字符串中是非常笨拙的。

9 implementing   

v.实现( implement的现在分词 )；执行；贯彻；使生效

参考例句：

• -- Implementing a comprehensive drug control strategy. ――实行综合治理的禁毒战略。 来自汉英非文学 - 白皮书
• He was in no hurry about implementing his unshakable principle. 他并不急于实行他那不可动摇的原则。 来自辞典例句

10 adamant   

adj.坚硬的，固执的

参考例句：

• We are adamant on the building of a well-off society.在建设小康社会这一点上，我们是坚定不移的。
• Veronica was quite adamant that they should stay on.维罗妮卡坚信他们必须继续留下去。

11 outdated   

adj.旧式的，落伍的，过时的；v.使过时

参考例句：

• That list of addresses is outdated,many have changed.那个通讯录已经没用了，许多地址已经改了。
• Many of us conform to the outdated customs laid down by our forebears.我们许多人都遵循祖先立下的过时习俗。

12 incentives   

激励某人做某事的事物( incentive的名词复数 )； 刺激； 诱因； 动机

参考例句：

• tax incentives to encourage savings 鼓励储蓄的税收措施
• Furthermore, subsidies provide incentives only for investments in equipment. 更有甚者，提供津贴仅是为鼓励增添设备的投资。 来自英汉非文学 - 环境法 - 环境法

13 adherence   

n.信奉，依附，坚持，固着

参考例句：

• He was well known for his adherence to the rules.他因遵循这些规定而出名。
• The teacher demanded adherence to the rules.老师要求学生们遵守纪律。

14 determined   

adj.坚定的；有决心的

参考例句：

• I have determined on going to Tibet after graduation.我已决定毕业后去西藏。
• He determined to view the rooms behind the office.他决定查看一下办公室后面的房间。