英语翻译This review begins with basic financial assets themselve

英语翻译
This review begins with basic financial assets themselves:stocks,bonds,and various indexes.This will be followed by a description of various derivative securities.Derivative securities are so named because their value is derived from the value of another security.Options,forward contracts,and futures contracts are in this category.
Another broad category of contracts that result from financial engineering are referred to as swaps.Swaps represent exchanges of cash flows generated by distinct sets of assets or tied to distinct measures of value.An early example of an engineered swap is the currency swap.In this example,consider two firms in different countries each having continuing financial obligations in the other's country.More specifically,consider a French firm with a U.S.subsidiary that requires dollars to operate and a U.S.firm with a French subsidiary that has need for French francs.One alternative is to borrow the funds in the home country and exchange them for the foreign currency needed by the subsidiary.Another alternative is for the subsidiary to borrow the needed funds in the local currency.This second alternative will provide needed funds for the subsidiary and avoid the costs associated with foreign exchange transactions.It is also likely,however,that the subsidiary is at a disadvantage when negotiating the rate on a loan in the local currency.For example,the U.S.-based subsidiary of a French corporation may not have the perceived creditworthiness of a U.S.corporation with foreign subsidiaries and as a result will be forced to pay a higher rate of interest on the dollar-denominated loan.
If each firm becomes aware of the other's needs,they can do the following.First,each parent corporation should borrow an equivalent amount in their home currencies.These amounts will be equal based on the current exchange rate between dollars and francs.Second,they will simultaneously transfer the proceeds of the loan to the other firm's subsidiary (i.e.,the French parent will transfer the borrowed francs to the U.S.firm's French subsidiary,and the U.S.parent will transfer the borrowed dollars to the French firm's U.S.subsidiary).As interest payments become due,the French-based subsidiary pays the French parent and the U.S.-based subsidiary pays the U.S.parent.Finally,when the term of the loans expires,each subsidiary will repay the other's parent.Note that this financially engineered contract has (I) effectively exploited each firm's ability to borrow at more favorable rates in its home country and (2) avoided all need for foreign currency exchange.
Obviously,the crucial factor in the formation of such a mutually advantageous contract is the identification of two parties with offsetting needs.
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这种观点产生于金融资产本身,这些金融资产包括：股票、基金,以及各种各样的指数（物价指数、综合指数等等）.观点背后,往往还跟随着一个对于派生的有价证券的描述.之所以叫派生的有价证券,是因为这种证券的价值来源于其它证券.买卖权、预期合同、期货交易合同,都属于派生的有价证券.
另一种源自财政业务的契约,叫做易物交易.
哇塞,好难.
累.我放弃了,抱歉.