現代國際資本市場與投資銀行(英文版)(ppt 44頁)

現代國際資本市場與投資銀行(英文版)內容提要：
(1) Adjusted Assets represent Total Assets less securities purchased under agreements to resell and the receivable for securities provided as collateral.
(2) Net Adjusted Assets represent Adjusted Assets less securities borrowed.
(3) Leverage Ratio equals Total Assets divided by stockholders’ equity and preferred stock issued by subsidiaries.
(4) Adjusted Leverage ratio equals Adjusted Assets divided by stockholders’ equity and preferred stock issued by subsidiaries.
(5) Net Adjusted Leverage equals Net Adjusted Assets divided by stockholders’ equity and preferred stock issued by subsidiaries.
Buyers and sellers place orders with broker Brokers route orders to market maker.Individual traders sort through orders……and maker matche sone by one
Market maker completes the transaction and pockets the “spread”between buy and sell prices.

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