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A leading European foreign exchange broker filed for administration on Monday and a Danish bank conceded it faced heavy losses as the UK’s market regulator stepped in to assess the damage wreaked on the industry by last week’s violent swing in the Swiss franc.
欧洲一家领先外汇经纪商周一申请破产保护，同时一家丹麦银行承认遭受巨额亏损。英国金融市场行为监管局(Financial Conduct Authority)出面，对上周瑞郎汇率剧烈波动对金融行业造成的破坏进行评估。
The Financial Conduct Authority sent letters to an unspecified number of currency brokers on Friday asking them to update the regulator about any impact the Swiss move could have had on their balance sheets, according to a person familiar with the situation.
据一位知情人士称，英国金融市场行为监管局上周五致信数量不明的外汇经纪商，要求他们报告有关瑞郎波动可能对其资产负债表造成的影响。
Global markets were left reeling last Thursday when Switzerland unexpectedly abandoned its currency ceiling against the euro. In one of the most damaging currency swings in the modern trading era, the Swiss franc soared in value, leaving investment banks across the world with big losses and hitting foreign exchange brokers particularly hard.
上周四，全球市场一片震惊，当时瑞士意外宣布放弃瑞郎对欧元汇率的上限。瑞郎汇率飙升，全球投行遭遇巨额亏损，外汇经纪商受到的冲击尤其严重，这是现代交易时代最具破坏性的汇率波动之一。
Alpari became one of the biggest casualties when a last-minute rescue ended in failure. Meanwhile, Denmark’s Saxo Bank was forced to admit on Monday that it was likely to suffer losses.
Alpari成为最大受害者之一，当时最后一刻的挽救努力宣告失败。与此同时，丹麦的Saxo Bank周一被迫承认可能遭受损失。
The fallout of the Swiss franc’s move has heightened scrutiny of a lightly regulated industry in which customers are often offered large amounts of leverage by companies to entice them to trade. London has been the venue for many of these brokers as it remains the world’s main hub for currency trading.
瑞郎波动的影响让人们加强了对这个轻监管行业的审视。在该行业，公司往往会向客户提供巨额杠杆资金，以吸引他们交易。伦敦一直是很多券商的交易场所，因为伦敦仍是全球主要外汇交易中心。
Punters deposit money with the broker and use it as collateral to borrow a much larger amount and magnify their trading positions. In London it is customary to offer 100-200 times the amount deposited into an account, although higher sums are available.
客户将资金存入券商，并利用这笔资金作为抵押，借入更大规模资金放大其交易头寸。在伦敦，融资倍数一般是账户存款的100倍至200倍，不过更高的融资倍数也是存在的。
Some brokers had a policy of covering client losses beyond their deposit in the short term, thus allowing customers to gear up their accounts. Violent market moves — such as that of the Swiss franc last week — mean investment prices fluctuate substantially and can trigger immediate calls for large payments of margin from customers, who may not be able to pay immediately.
一些经纪商采用的方法是在短期内弥补客户在其存款之外的亏损，从而让客户加速其账户的交易。市场的剧烈波动（例如瑞郎上周的波动）意味着，投资价格出现大幅波动，可能导致经纪商立即要求客户追加巨额保证金，而客户可能无法立即缴付。
