{"id":26041,"date":"2020-07-14T12:41:32","date_gmt":"2020-07-14T10:41:32","guid":{"rendered":"https:\/\/tradewithgalaxy.com\/cn\/kb\/?p=26041"},"modified":"2024-04-22T22:16:21","modified_gmt":"2024-04-22T20:16:21","slug":"%e4%bb%8b%e7%bb%8d%e5%a5%97%e5%88%a9%e3%80%81%e9%ab%98%e9%a2%91hft%e3%80%81%e9%87%8f%e5%8c%96%e5%92%8c%e5%85%b6%e4%bb%96%e8%87%aa%e5%8a%a8%e4%ba%a4%e6%98%93%e7%ad%96%e7%95%a5","status":"publish","type":"post","link":"https:\/\/tradewithgalaxy.com\/cn\/kb\/%e4%bb%8b%e7%bb%8d%e5%a5%97%e5%88%a9%e3%80%81%e9%ab%98%e9%a2%91hft%e3%80%81%e9%87%8f%e5%8c%96%e5%92%8c%e5%85%b6%e4%bb%96%e8%87%aa%e5%8a%a8%e4%ba%a4%e6%98%93%e7%ad%96%e7%95%a5\/","title":{"rendered":"\u4ecb\u7ecd\u5957\u5229\u3001\u9ad8\u9891(HFT)\u3001\u91cf\u5316\u548c\u5176\u4ed6\u81ea\u52a8\u4ea4\u6613\u7b56\u7565"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"26041\" class=\"elementor elementor-26041\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section 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elementor-size-default\">\u5f53\u4f60\u5728\u5bfb\u627e\u80fd\u591f\u9002\u5e94\u4f60\u7684\u4ea4\u6613\u7b56\u7565\u7684\u7ecf\u7eaa\u5546\u65f6\uff0c\u4f60\u5e94\u8be5\u6ce8\u610f\u4ec0\u4e48\uff1f<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-43f590a elementor-widget elementor-widget-text-editor\" data-id=\"43f590a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div 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href=\"https:\/\/tradewithgalaxy.com\/cn\/\" target=\"_blank\" rel=\"noopener\">\u94f6\u6cb3\u4e91<\/a>)\u4ea4\u6613\u7684\u7ecf\u7eaa\u5546\/\u6d41\u52a8\u6027\u63d0\u4f9b\u8005\u3002<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c5cef94 elementor-widget elementor-widget-heading\" data-id=\"c5cef94\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">\u5916\u6c47\u5e02\u573a\u4e0e\u80a1\u7968\u5e02\u573a\u7684\u81ea\u52a8\u4ea4\u6613<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ef5622c elementor-widget elementor-widget-image\" data-id=\"ef5622c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"640\" height=\"359\" src=\"https:\/\/tradewithgalaxy.com\/cn\/kb\/wp-content\/uploads\/2020\/07\/\u5957\u5229\u9ad8\u9891\u91cf\u5316\u4ea4\u6613.jpg\" class=\"attachment-medium_large size-medium_large wp-image-26043\" alt=\"\u5957\u5229\u9ad8\u9891\u91cf\u5316\u4ea4\u6613\" srcset=\"https:\/\/tradewithgalaxy.com\/cn\/kb\/wp-content\/uploads\/2020\/07\/\u5957\u5229\u9ad8\u9891\u91cf\u5316\u4ea4\u6613.jpg 640w, https:\/\/tradewithgalaxy.com\/cn\/kb\/wp-content\/uploads\/2020\/07\/\u5957\u5229\u9ad8\u9891\u91cf\u5316\u4ea4\u6613-300x168.jpg 300w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0b0d3a9 elementor-widget elementor-widget-text-editor\" data-id=\"0b0d3a9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>\u6839\u636e\u5fb7\u610f\u5fd7\u94f6\u884c\u7edf\u8ba1\uff0c90%\u7684\u80a1\u7968\u671f\u8d27\u4ea4\u6613\u662f\u5728\u6ca1\u6709\u4efb\u4f55\u4eba\u5de5\u6295\u5165\u7684\u60c5\u51b5\u4e0b\u6267\u884c\u7684\u3002\u81ea\u4e0a\u4e16\u7eaa70\u5e74\u4ee3\u521d\u5f00\u59cb\u6d6e\u52a8\u6c47\u7387\u65f6\u4ee3\u4ee5\u6765\uff0c\u6280\u672f\u6027\u4ea4\u6613\u5728\u5916\u6c47\u5e02\u573a\u4e0a\u4e5f\u53d8\u5f97\u975e\u5e38\u666e\u904d\u3002<\/p><p>2016\u5e74\u7684\u4e00\u9879\u7814\u7a76\u663e\u793a\uff0c\u5916\u6c47\u5e02\u573a\u4e0a\u8d85\u8fc780%\u7684\u4ea4\u6613\u662f\u7531\u4ea4\u6613\u7b97\u6cd5\u800c\u975e\u4eba\u7c7b\u5b8c\u6210\u7684\u3002<\/p><p>\u7136\u800c\uff0c\u80a1\u7968\u5e02\u573a\u548c\u5916\u6c47\u5e02\u573a\u6709\u7740\u5929\u58e4\u4e4b\u522b\u3002<\/p><p>\u5728\u80a1\u7968\u4e2d\uff0c\u4f7f\u7528\u7b97\u6cd5\u7684\u516c\u5171\u548c\u79c1\u4eba\u4ea4\u6613\u573a\u6240\u6570\u4e0d\u80dc\u6570\uff0c\u591a\u8fbe40\u591a\u5bb6\uff0c\u800c\u5916\u6c47\u5e02\u573a\u5219\u662f\u7531\u5404\u5927\u94f6\u884c\u6216\u5728\u5404\u5927\u94f6\u884c\u4ea4\u6613\u67dc\u53f0\u95f4\u8fdb\u884c\u4ea4\u6613\uff0c\u4e5f\u5c31\u662f\u6240\u8c13\u7684\u4e3b\u8981\u94f6\u884c\u4ea4\u6613\u5e02\u573a\u6216\u73b0\u8d27\u8fdc\u671f\u5e02\u573a\u3002<\/p><p>\u94f6\u884c\u4e4b\u95f4\u4f7f\u7528\u7b97\u6cd5\u8fdb\u884c\u4ea4\u6613\uff0c\u5e76\u7ecf\u5e38\u5c06\u7b97\u6cd5\u5356\u7ed9\u5ba2\u6237\u4ee5\u83b7\u53d6\u8d39\u7528\u3002<\/p><p>\u56e0\u6b64\uff0c\u8ba1\u7b97\u673a\u9a71\u52a8\u7684\u4ea4\u6613\u5728\u5916\u6c47\u4e2d\u7684\u666e\u53ca\u901f\u5ea6\u8fdc\u6bd4\u80a1\u7968\u6162\u3002<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-96b07ec elementor-widget elementor-widget-heading\" data-id=\"96b07ec\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">\u81ea\u52a8\u4ea4\u6613\u7684\u7c7b\u578b<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0ce1c4f elementor-widget elementor-widget-text-editor\" data-id=\"0ce1c4f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>\u9488\u5bf9\u5916\u6c47\uff0c\u6211\u4eec\u5c06\u6df1\u5165\u7814\u7a76\u4ee5\u4e0b\u76f8\u5f53\u5e38\u89c1\u7684\u4e13\u95e8\u4ea4\u6613\u7b56\u7565\uff1a<\/p><ul><li><strong>\u5957\u5229(Arbitrage)<\/strong><\/li><li><strong>\u9ad8\u9891\u4ea4\u6613(High-Frequency Trading, HFT)<\/strong><\/li><li><strong>\u91cf\u5316\u6216\u91cf\u5316\u4ea4\u6613(Quant Trading)<\/strong><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-11c15f5 elementor-widget elementor-widget-heading\" data-id=\"11c15f5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">\u5957\u5229(Arbitrage)<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7551389 elementor-widget elementor-widget-image\" data-id=\"7551389\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"640\" height=\"426\" src=\"https:\/\/tradewithgalaxy.com\/cn\/kb\/wp-content\/uploads\/2020\/07\/\u5957\u5229\u9ad8\u9891\u91cf\u5316\u4ea4\u66131.jpg\" class=\"attachment-medium_large size-medium_large wp-image-26048\" alt=\"\u5957\u5229\u9ad8\u9891\u91cf\u5316\u4ea4\u66131\" srcset=\"https:\/\/tradewithgalaxy.com\/cn\/kb\/wp-content\/uploads\/2020\/07\/\u5957\u5229\u9ad8\u9891\u91cf\u5316\u4ea4\u66131.jpg 640w, https:\/\/tradewithgalaxy.com\/cn\/kb\/wp-content\/uploads\/2020\/07\/\u5957\u5229\u9ad8\u9891\u91cf\u5316\u4ea4\u66131-300x200.jpg 300w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1db367a elementor-widget elementor-widget-text-editor\" data-id=\"1db367a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>\u5728\u7b97\u6cd5\u4ea4\u6613\u4e2d\u4f7f\u7528\u5957\u5229\u610f\u5473\u7740\u7cfb\u7edf\u4f1a\u5728\u4e0d\u540c\u7684\u5e02\u573a\u4e2d\u5bfb\u627e\u4ef7\u683c\u7684\u4e0d\u5e73\u8861\uff0c\u5e76\u8bd5\u56fe\u4ece\u4e2d\u83b7\u5229\u3002\u5957\u5229\u673a\u4f1a\u901a\u5e38\u662f\u77ed\u6682\u7684\uff0c\u6240\u4ee5\u4f60\u9700\u8981\u5feb\u901f\u884c\u52a8\u3002<\/p><p>\u7531\u4e8e\u5916\u6c47\u4ef7\u683c\u5dee\u5f02\u901a\u5e38\u662f\u4ee5\u5fae\u70b9\u4e3a\u5355\u4f4d\uff0c\u4e00\u4e2a\u4eba\u9700\u8981\u4ea4\u6613\u771f\u6b63\u7684\u5927\u5934\u5bf8\u624d\u80fd\u83b7\u5f97\u53ef\u89c2\u7684\u5229\u6da6\u3002<\/p><p>\u5916\u6c47\u4e2d\u6709\u51e0\u79cd\u4f20\u7edf\u7684\u5957\u5229\u7b56\u7565\uff1a<\/p><ul><li><strong>\u4e09\u89d2\u5957\u5229(Triangular arbitrage)<\/strong>(\u6d89\u53ca\u4e24\u4e2a\u8d27\u5e01\u5bf9\u548c\u4e24\u4e2a\u8d27\u5e01\u4e4b\u95f4\u7684\u4ea4\u53c9)\u662f\u8fd9\u4e00\u5206\u7c7b\u4e0b\u7684\u6d41\u884c\u7b56\u7565\u3002\u4f8b\u5982\u82f1\u9551\/\u7f8e\u5143\u3001\u7f8e\u5143\/\u65e5\u5143\u548c\u82f1\u9551\/\u65e5\u5143\u3002\u4e09\u89d2\u5957\u5229\u662f\u57fa\u4e8e\u4e09\u4e2a\u8d27\u5e01\u5bf9\u4e4b\u95f4\u7684\u51e0\u4f55\u5173\u7cfb\u3002<\/li><li><strong>\u65e0\u98ce\u9669\u5957\u5229(Covered interest arbitrage)<\/strong>\u91c7\u7528\u7684\u7b56\u7565\u662f\u5bf9\u73b0\u8d27\u548c\u8fdc\u671f\u5408\u7ea6\u5e02\u573a\u7684\u5229\u7387\u5dee\u8fdb\u884c\u5957\u5229\uff0c\u4ee5\u5bf9\u51b2\u8d27\u5e01\u5e02\u573a\u7684\u5229\u7387\u98ce\u9669\u3002\u8fd9\u4e9b\u4f20\u7edf\u7684\u5957\u5229\u7b56\u7565\u4ece80\u5e74\u4ee3\u5f00\u59cb\u5c31\u5df2\u7ecf\u88ab\u4eba\u4eec\u6240\u719f\u77e5\uff0c\u968f\u7740\u65f6\u95f4\u7684\u63a8\u79fb\uff0c\u5e02\u573a\u5411\u7740\u66f4\u9ad8\u7684\u6548\u7387\u53d1\u5c55\uff0c\u4eba\u4eec\u666e\u904d\u8ba4\u4e3a\u8fd9\u4e9b\u7b56\u7565\u5728\u4eca\u5929\u7684\u5e02\u573a\u4e2d\u5f88\u5c11\u53d1\u6325\u4f5c\u7528\u3002<\/li><\/ul><p>\u4e00\u4e9b\u6bd4\u8f83\u6d41\u884c\u7684\u4fdd\u8bc1\u91d1\u5916\u6c47\u5957\u5229\u7b56\u7565\u6709\uff1a<\/p><ul><li><strong>\u5ef6\u65f6\u5957\u5229(Latency arbitrage, LA)<\/strong>\u662f\u4e00\u79cd\u9ad8\u9891\u4ea4\u6613\u7b56\u7565\uff0c\u5728\u80a1\u7968\u4ea4\u6613\u4e2d\u8fdb\u884c\u62a2\u8dd1\u4ea4\u6613(front-running)\u6307\u4ee4\u3002\u5728\u80a1\u7968\u5e02\u573a\u4e0a\uff0c\u8fd9\u4e9b\u7b56\u7565\u7ecf\u5e38\u88ab\u8d34\u4e0a\u300c\u5177\u63a0\u593a\u6027\u300d\u7684\u6807\u7b7e\uff0c\u56e0\u4e3a\u4f7f\u7528\u62a2\u8dd1\u4ea4\u6613\u548c\u8fd4\u4f63\u5957\u5229\u7b56\u7565\u3002<br \/>\u5728\u5916\u6c47\u5e02\u573a\uff0c\u5ef6\u8fdf\u5957\u5229\u901a\u5e38\u662f\u4ef7\u683c\u5ef6\u8fdf\u5957\u5229\uff0c\u5373\u4ea4\u6613\u8005\u5728\u67d0\u4e00\u7ecf\u7eaa\u5546\u7684\u5e73\u53f0\u4e0a\u53d1\u73b0\u5ef6\u8fdf\u7684\u4ef7\u683c\uff0c\u5e76\u5229\u7528\u8fd9\u4e00\u7f3a\u9677\u83b7\u5229\u3002<\/li><li><strong>\u8de8\u7ecf\u7eaa\u5546\u5957\u5229(Cross-broker Arbitrage)\uff1a<\/strong>\u8981\u4f7f\u7528\u8fd9\u79cd\u6280\u672f\uff0c\u4f60\u9700\u8981\u81f3\u5c11\u4e24\u4e2a\u72ec\u7acb\u7684\u7ecf\u7eaa\u5546\u8d26\u6237\uff0c\u6700\u597d\u8fd8\u6709\u4e00\u4e9b\u8f6f\u4ef6\u6765\u76d1\u63a7\u62a5\u4ef7\u3002\u5f53\u4ef7\u683c\u63a8\u9001\u51fa\u73b0\u5dee\u5f02\u65f6\uff0c\u8f6f\u4ef6\u4f1a\u63d0\u9192\u4f60\u3002\u4f60\u4e5f\u53ef\u4ee5\u4f7f\u7528\u8f6f\u4ef6\u6765\u56de\u6d4b\u4f60\u7684\u62a5\u4ef7\uff0c\u4ee5\u5bfb\u627e\u53ef\u80fd\u7684\u5957\u5229\u673a\u4f1a\u3002<br \/>\u4ef7\u683c\u5dee\u5f02\u7684\u4ea7\u751f\u6709\u51e0\u4e2a\u539f\u56e0\uff1a\u65f6\u95f4\u70b9\u7684\u5dee\u5f02\uff0c\u8f6f\u4ef6\uff0c\u5b9a\u4f4d\uff0c\u4ee5\u53ca\u4e0d\u540c\u7684\u5b9a\u4ef7\u5546\u4e4b\u95f4\u7684\u4e0d\u540c\u62a5\u4ef7\u3002<\/li><li><strong>\u6280\u672f\u5957\u5229(Technology Arbitrage)\uff1a<\/strong>\u5f53\u7ecf\u7eaa\u5546\u7684\u62a5\u4ef7\u77ac\u95f4\u4e0e\u5927\u76d8\u4ea7\u751f\u5206\u6b67\u65f6\uff0c\u4ea4\u6613\u8005\u53ef\u4ee5\u5bf9\u8fd9\u4e9b\u4e8b\u4ef6\u8fdb\u884c\u5957\u5229\u3002\u8fd9\u6837\u5c31\u53ef\u4ee5\u83b7\u5f97\u65e0\u98ce\u9669\u5229\u6da6\u3002\u4f46\u4e8b\u5b9e\u4e0a\uff0c\u8fd9\u4e5f\u662f\u4e00\u79cd\u6311\u6218\u3002\u4e00\u4e9b\u673a\u6784\u4ea4\u6613\u8005\u53ef\u80fd\u4f1a\u5229\u7528\u96f6\u552e\u5916\u6c47\u5e73\u53f0\u7684\u7f3a\u9677\uff0c\u540c\u65f6\u53c8\u53ef\u4ee5\u8fdb\u5165<a href=\"http:\/\/www.ebs.com\/\" target=\"_blank\" rel=\"noopener\">\u7535\u5b50\u7ecf\u7eaa\u670d\u52a1(EBS)<\/a>\u6216<a href=\"https:\/\/www.reuters.com\/\" target=\"_blank\" rel=\"noopener\">\u8def\u900f\u793e<\/a>\u7684\u4e00\u7ea7\u5916\u6c47\u5e02\u573a\u3002<\/li><li><strong>\u4e8b\u4ef6\u5957\u5229(Event arbitrage)<\/strong>\u662f\u6307\u6839\u636e\u5e02\u573a\u5bf9\u4e8b\u4ef6\u7684\u53cd\u5e94\u8fdb\u884c\u4ea4\u6613\u7684\u4e00\u7ec4\u4ea4\u6613\u7b56\u7565\u3002\u8fd9\u4e9b\u4e8b\u4ef6\u53ef\u80fd\u662f\u7ecf\u6d4e\u6216\u7279\u5b9a\u884c\u4e1a\u7684\u4e8b\u4ef6\uff0c\u8fd9\u4e9b\u4e8b\u4ef6\u6301\u7eed\u4e0d\u65ad\u5730\u5f71\u54cd\u7740\u8bc1\u5238\u3002\u4f8b\u5982\uff0c\u8bb8\u591a\u5916\u6c47\u7b56\u7565\u90fd\u56f4\u7ed5\u7740\u5728\u5e02\u573a\u4f5c\u51fa\u53cd\u5e94\u4e4b\u524d\u5bf9\u91cd\u5927\u65b0\u95fb\u516c\u544a\u8fdb\u884c\u5957\u5229\u3002<\/li><\/ul><p>\u6240\u6709\u8fd9\u4e9b\u4ef7\u683c\u5dee\u5f02\u53ef\u80fd\u4e0d\u4f1a\u6301\u7eed\u5f88\u957f\u65f6\u95f4\uff0c\u56e0\u4e3a\u8fd8\u6709\u5176\u4ed6\u4ea4\u6613\u8005\u5728\u89c2\u5bdf\u4ef7\u683c\u5e76\u5bfb\u627e\u540c\u6837\u7684\u673a\u4f1a\uff0c\u6240\u4ee5\u4f60\u9700\u8981\u975e\u5e38\u5feb\u7684\u901f\u5ea6\u3002<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bd98a16 elementor-widget elementor-widget-heading\" data-id=\"bd98a16\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">\u5957\u5229\u7b56\u7565\u5b9e\u65bd\u9762\u4e34\u7684\u6311\u6218<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8737266 elementor-widget elementor-widget-text-editor\" data-id=\"8737266\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li><strong>\u4e3b\u673a\u6258\u7ba1\u548c\u901f\u5ea6<\/strong> &#8211; \u5957\u5229\u7b56\u7565\u4e5f\u5c31\u662f\u6240\u8c13\u7684\u62a2\u5206\uff0c\u6240\u4ee5\u901f\u5ea6\u662f\u6700\u91cd\u8981\u7684\u3002\u8fd9\u4e9b\u90fd\u9700\u8981\u5728\u6280\u672f\u548c\u57fa\u7840\u8bbe\u65bd\u4e0a\u6295\u8d44\uff0c\u4e0e\u4ea4\u6613\u573a\u6240\u540c\u4e3b\u673a\u6258\u7ba1\u3002<\/li><li><strong>\u4ea4\u6613\u6210\u672c<\/strong> &#8211; \u7531\u4e8e\u5229\u6da6\u975e\u5e38\u5c0f\uff0c\u53d6\u51b3\u4e8e\u7ecf\u7eaa\u5546\uff0c\u6240\u4ee5\u9700\u8981\u5145\u5206\u4f30\u8ba1\u4ea4\u6613\u6210\u672c\u3002<\/li><li><p><strong>\u6709\u4e9b\u7b56\u7565\u662f\u4e0d\u592a\u53ef\u80fd\u957f\u4e45\u6301\u7eed\u7684<\/strong>\uff1b\u7531\u4e8e\u9700\u8981\u7ba1\u7406\u5f88\u591a\u8d26\u6237\uff0c\u800c\u4e14\u5f88\u591a\u7ecf\u7eaa\u5546\u4e0d\u5141\u8bb8\u4efb\u4f55\u5f62\u5f0f\u7684\u5957\u5229\uff0c\u968f\u65f6\u90fd\u6709\u53ef\u80fd\u6682\u505c\u4f60\u7684\u8d26\u6237\u3002<\/p><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-114872e elementor-widget elementor-widget-heading\" data-id=\"114872e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">\u9ad8\u9891\u4ea4\u6613(High-Frequency Trading, HFT)<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-05a8ad4 elementor-widget elementor-widget-image\" data-id=\"05a8ad4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"640\" height=\"359\" src=\"https:\/\/tradewithgalaxy.com\/cn\/kb\/wp-content\/uploads\/2020\/07\/\u5957\u5229\u9ad8\u9891\u91cf\u5316\u4ea4\u66132.jpg\" class=\"attachment-medium_large size-medium_large wp-image-26050\" alt=\"\u5957\u5229\u9ad8\u9891\u91cf\u5316\u4ea4\u66132\" srcset=\"https:\/\/tradewithgalaxy.com\/cn\/kb\/wp-content\/uploads\/2020\/07\/\u5957\u5229\u9ad8\u9891\u91cf\u5316\u4ea4\u66132.jpg 640w, https:\/\/tradewithgalaxy.com\/cn\/kb\/wp-content\/uploads\/2020\/07\/\u5957\u5229\u9ad8\u9891\u91cf\u5316\u4ea4\u66132-300x168.jpg 300w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b3ff64c elementor-widget elementor-widget-text-editor\" data-id=\"b3ff64c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>\u987e\u540d\u601d\u4e49\uff0c\u8fd9\u79cd\u4ea4\u6613\u7cfb\u7edf\u4ee5\u95ea\u7535\u822c\u7684\u901f\u5ea6\u8fd0\u884c\uff0c\u5728\u51e0\u6beb\u79d2\u5185\u6267\u884c\u4e70\u5165\u6216\u5356\u51fa\u4fe1\u53f7\u5e76\u5b8c\u6210\u4ea4\u6613\u3002\u8fd9\u4e9b\u4ea4\u6613\u7b56\u7565\u901a\u5e38\u7528\u5feb\u901f\u4ef7\u683c\u6ce2\u52a8\u7684\u5957\u5229\u6216\u5265\u5934\u76ae\u7b56\u7565\uff0c\u5e76\u6d89\u53ca\u9ad8\u4ea4\u6613\u91cf\u3002<\/p><p>\u9ad8\u9891\u4ea4\u6613\u5546\u4f9d\u9760\u6781\u4f4e\u7684\u5ef6\u8fdf\uff0c\u5e76\u4f7f\u7528\u9ad8\u901f\u8fde\u63a5\u4e0e\u4ea4\u6613\u7b97\u6cd5\u76f8\u7ed3\u5408\uff0c\u4ee5\u5bf9\u8fd9\u4e9b\u4ea4\u6613\u6240\u4ea7\u751f\u7684\u4f4e\u6548\u7387\u591a\u52a0\u5229\u7528\u3002<\/p><p>\u6240\u6709\u8fd9\u4e9b\u4ef7\u683c\u5dee\u5f02\u53ef\u80fd\u4e0d\u4f1a\u6301\u7eed\u5f88\u957f\u65f6\u95f4\uff0c\u56e0\u4e3a\u8fd8\u6709\u5176\u4ed6\u4ea4\u6613\u8005\u5728\u90a3\u91cc\u89c2\u5bdf\u4ef7\u683c\u5e76\u5bfb\u627e\u540c\u6837\u7684\u673a\u4f1a\uff0c\u6240\u4ee5\u4f60\u9700\u8981\u975e\u5e38\u5feb\u7684\u901f\u5ea6\u3002\u5916\u6c47\u4ea4\u6613\u4e2d\u7684\u9ad8\u9891\u4ea4\u6613\u8005\u901a\u8fc7\u8bd5\u56fe\u6355\u6349\u53e6\u4e00\u4e2a\u5730\u65b9\u7684\u4e70\u5165\/\u5356\u51fa\u4ef7\u5dee\u7684\u5fae\u5c0f\u53d8\u5316\u6216\u5dee\u5f02\u6765\u4ea7\u751f\u6536\u5165\u3002<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a05f9f3 elementor-widget elementor-widget-heading\" data-id=\"a05f9f3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">\u9ad8\u9891\u4ea4\u6613\u7b56\u7565\u5b9e\u65bd\u9762\u4e34\u7684\u6311\u6218<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-316228e elementor-widget elementor-widget-text-editor\" data-id=\"316228e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li><strong>\u901f\u5ea6<\/strong><\/li><\/ul><p>\u5728\u64b0\u5199\u672c\u6587\u7ae0\u65f6\uff0c\u5e02\u573a\u663e\u793a\u4e86\u4e00\u4e9b\u5916\u6c47\u7684\u9ad8\u9891\u4ea4\u6613\u53c2\u4e0e\u8005\u7684\u64cd\u4f5c\u5ef6\u8fdf\u53ef\u4ee5\u4f4e\u4e8e1\u6beb\u79d2\uff0c\u800c\u5927\u591a\u6570\u975e\u9ad8\u9891\u4ea4\u6613\u53c2\u4e0e\u8005\u7684\u5ef6\u8fdf\u65f6\u95f4\u4e3a10-30\u6beb\u79d2\u3002<\/p><p>\u5728\u80a1\u7968\u4e2d\uff0c\u4ea4\u6613\u5185\u90e8\u5904\u7406\u65f6\u95f4\u662f64\u4e07\u5206\u4e4b\u4e00\u79d2\u3002\u5916\u6c47\u7684\u6267\u884c\u901f\u5ea6\u4ecd\u8fdc\u8fdc\u843d\u540e\u4e8e\u80a1\u7968\u4ea4\u6613\u3002<\/p><p>\u5982\u4f60\u6240\u89c1\uff0c\u7eb3\u65af\u8fbe\u514b\u53ef\u4ee5\u5728\u4e0d\u52301\u6beb\u79d2\u7684\u65f6\u95f4\u5185\u6267\u884c\u8ba2\u5355\uff0c\u800c\u6700\u5feb\u7684\u4fdd\u8bc1\u91d1\u5916\u6c47\u7ecf\u7eaa\u5546\u5219\u572885\u6beb\u79d2\u3002<\/p><p>\u9ad8\u9891\u4ea4\u6613\u7b56\u7565\u8fd8\u6709\u5176\u4ed6\u9650\u5236\u56e0\u7d20\uff0c\u5982\u586b\u5355\u7387\uff0c\u56e0\u4e3a\u7531\u4e8e\u672a\u6210\u4ea4\u8ba2\u5355\u800c\u9519\u8fc7\u5927\u91cf\u4ea4\u6613\u7684\u540e\u679c\u5bf9\u4efb\u4f55\u9ad8\u9891\u4ea4\u6613\u7b56\u7565\u6765\u8bf4\u90fd\u53ef\u80fd\u662f\u707e\u96be\u6027\u7684\u3002<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bc130bd elementor-widget elementor-widget-heading\" data-id=\"bc130bd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">\u5265\u5934\u76ae(Scalping)<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3da6da8 elementor-widget elementor-widget-text-editor\" data-id=\"3da6da8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>\u5265\u5934\u76ae\u662f\u9ad8\u9891\u4ea4\u6613\u7684\u53e6\u4e00\u79cd\u5b50\u7c7b\u578b\u3002\u5b83\u6d89\u53ca\u5230\u8fdb\u5165\u4ea4\u6613\u5e76\u5728\u77ed\u65f6\u95f4\u540e\u5173\u95ed\u4ea4\u6613\uff0c\u4ee5\u4fbf\u4ece\u5fae\u5c0f\u7684\u4ef7\u683c\u53d8\u5316\u4e2d\u83b7\u5229\u3002\u5982\u679c\u4f60\u89c2\u5bdf\u4efb\u4f55\u6d41\u52a8\u8d44\u4ea7\u7684\u56fe\u8868\uff0c\u4f60\u4f1a\u770b\u5230\u4ef7\u683c\u4e0d\u65ad\u79fb\u52a8\u3002\u5265\u5934\u76ae\u4ea4\u6613\u8005\u4ece\u8fd9\u79cd\u6ce2\u52a8\u4e2d\u83b7\u5229\u3002<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ac2f3a7 elementor-widget elementor-widget-heading\" data-id=\"ac2f3a7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">\u5265\u5934\u76ae\u4ea4\u6613\u5b9e\u65bd\u9762\u4e34\u7684\u6311\u6218<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-28eaae2 elementor-widget elementor-widget-text-editor\" data-id=\"28eaae2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li><strong>\u5728\u6ce2\u52a8\u5927\u7684\u5e02\u573a\u4e2d\u98ce\u9669\u589e\u52a0<\/strong><\/li><li><strong>\u6709\u4e9b\u7ecf\u7eaa\u5546\u4e0d\u5141\u8bb8\u8fd9\u6837\u505a\uff0c\u56e0\u4e3a\u8fd9\u4e0d\u7b26\u5408\u4ed6\u4eec\u7684\u98ce\u9669\u7ba1\u7406\u7b56\u7565<\/strong><\/li><li><strong>\u9700\u8c28\u614e\u5c0f\u5fc3\u7684\u63a7\u5236\u4ef7\u683c &#8211; \u70b9\u5dee\u548c\u5176\u4ed6\u8d39\u7528\u9700\u88ab\u5c0f\u5fc3\u7684\u5ba1\u67e5<\/strong><\/li><li><strong>\u5982\u679c\u4ea4\u6613\u88ab\u62d2\u7edd\u6216\u6ed1\u843d\uff0c\u586b\u5355\u7387\u4f1a\u7834\u574f\u7b56\u7565\u5229\u6da6<\/strong><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e10c047 elementor-widget elementor-widget-heading\" data-id=\"e10c047\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">\u91cf\u5316\u4ea4\u6613(Quant Trading)<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-35f0544 elementor-widget elementor-widget-image\" data-id=\"35f0544\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"426\" src=\"https:\/\/tradewithgalaxy.com\/cn\/kb\/wp-content\/uploads\/2020\/07\/\u5957\u5229\u9ad8\u9891\u91cf\u5316\u4ea4\u66134.jpg\" class=\"attachment-medium_large size-medium_large wp-image-26055\" alt=\"\" srcset=\"https:\/\/tradewithgalaxy.com\/cn\/kb\/wp-content\/uploads\/2020\/07\/\u5957\u5229\u9ad8\u9891\u91cf\u5316\u4ea4\u66134.jpg 640w, https:\/\/tradewithgalaxy.com\/cn\/kb\/wp-content\/uploads\/2020\/07\/\u5957\u5229\u9ad8\u9891\u91cf\u5316\u4ea4\u66134-300x200.jpg 300w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1e7cc4a elementor-widget elementor-widget-text-editor\" data-id=\"1e7cc4a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>\u91cf\u5316\u4ea4\u6613\u662f\u4e00\u79cd\u5e02\u573a\u7b56\u7565\uff0c\u5b83\u4f9d\u9760\u6570\u5b66\u548c\u7edf\u8ba1\u6a21\u578b\u6765\u8bc6\u522b(\u5e76\u7ecf\u5e38\u88ab\u7528\u6765\u6267\u884c)\u4ea4\u6613\u673a\u4f1a\u3002\u8fd9\u4e9b\u6a21\u578b\u662f\u7531\u91cf\u5316\u5206\u6790\u9a71\u52a8\u7684\uff0c\u8fd9\u4e5f\u662f\u8be5\u7b56\u7565\u540d\u79f0\u7684\u7531\u6765\u3002<\/p><p>\u5b83\u7ecf\u5e38\u88ab\u79f0\u4e3a\u300c\u91cf\u5316\u4ea4\u6613\u300d\uff0c\u6216\u8005\u6709\u65f6\u53ea\u662f\u300c\u91cf\u5316\u300d\u3002<\/p><p>\u91cf\u5316\u4ea4\u6613\u901a\u8fc7\u4f7f\u7528\u57fa\u4e8e\u6570\u636e\u7684\u6a21\u578b\u6765\u786e\u5b9a\u67d0\u79cd\u7ed3\u679c\u53d1\u751f\u7684\u6982\u7387\u3002\u4e0e\u5176\u4ed6\u4ea4\u6613\u5f62\u5f0f\u4e0d\u540c\uff0c\u5b83\u5b8c\u5168\u4f9d\u9760\u7edf\u8ba1\u65b9\u6cd5\u548c\u7f16\u7a0b\u6765\u5b9e\u73b0\u3002<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-18608e2 elementor-widget elementor-widget-heading\" data-id=\"18608e2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">\u5728\u5916\u6c47\u4e2d\u5b9e\u65bd\u91cf\u5316\u7b56\u7565\u65f6\u9762\u4e34\u7684\u6311\u6218<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-72ac526 elementor-widget elementor-widget-text-editor\" data-id=\"72ac526\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li><strong>\u4e0e\u80a1\u7968\u76f8\u6bd4\uff0c\u5916\u6c47\u4ea4\u6613\u4e2d\u7f3a\u4e4f\u6570\u636e\uff0c\u8fd9\u662f\u5728\u5916\u6c47\u4e2d\u5b9e\u65bd\u91cf\u5316\u4ea4\u6613\u7b56\u7565\u7684\u4e3b\u8981\u969c\u788d\u4e4b\u4e00\u3002<\/strong>\u7531\u4e8e\u5916\u6c47\u5e02\u573a\u88ab\u89c6\u4e3a\u573a\u5916\u4ea4\u6613\u5e02\u573a(OTC)\uff0c\u4e0d\u5728\u96c6\u4e2d\u7684\u4ea4\u6613\u6240\u8fdb\u884c\u4ea4\u6613\uff0c\u56e0\u6b64\u51e0\u4e4e\u6ca1\u6709\u7edf\u4e00\u7684\u6570\u636e\u3002<br \/>\u5916\u6c47ECN\u53ea\u516c\u5e03\u5927\u7ea615%\u7684\u6570\u636e\uff0c\u800c\u5e02\u573a\u4e0a\u5176\u4f59\u7684\u4ea4\u6613\u90fd\u662f\u300c\u6697\u7bb1\u64cd\u4f5c\u300d\u3002<br \/>\u636e\u4f30\u8ba1\uff0c\u53ea\u67096%\u7684\u5e02\u573a\u88ab\u4f18\u8d28\u6570\u636e\u8986\u76d6\uff0c\u800c\u7b97\u6cd5\u9700\u8981\u62e5\u6709\u6570\u636e\uff0c\u6bd4\u5982\u65f6\u95f4\u5355\u4f4d\u5185\u7684\u4ea4\u6613\u91cf\uff0c\u624d\u80fd\u6b63\u786e\u5730\u5c06\u5927\u5355\u5207\u6210\u5c0f\u5355\u3002<\/li><li><strong>\u53e6\u5916\uff0c\u5f88\u591a\u4ea4\u6613\u8005\u4f4e\u4f30\u4e86\u4f18\u8d28\u6570\u636e\u7684\u6210\u672c\u3002<\/strong>\u4f60\u53ef\u4ee5\u5f97\u5230\u4e00\u4e9b\u53ef\u4ee5\u8ffd\u6eaf\u52301992\u5e74\u7684\u5386\u53f2\u884c\u60c5\u6570\u636e\uff0c\u4f46\u9700\u8981\u82b1\u8d39\u6570\u4e07\u7f8e\u5143\u3002<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6700bb1 elementor-widget elementor-widget-heading\" data-id=\"6700bb1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">\u5982\u4f55\u5728\u5916\u6c47\u4fdd\u8bc1\u91d1\u7ecf\u7eaa\u5546\u7684\u5e73\u53f0\u4e0a\u5b9e\u73b0\u81ea\u52a8\u4ea4\u6613\u7b56\u7565\uff1f<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ccc1f37 elementor-widget elementor-widget-image\" data-id=\"ccc1f37\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"480\" src=\"https:\/\/tradewithgalaxy.com\/cn\/kb\/wp-content\/uploads\/2020\/07\/\u5957\u5229\u9ad8\u9891\u91cf\u5316\u4ea4\u66133.jpg\" class=\"attachment-medium_large size-medium_large wp-image-26052\" alt=\"\u5957\u5229\u9ad8\u9891\u91cf\u5316\u4ea4\u66133\" srcset=\"https:\/\/tradewithgalaxy.com\/cn\/kb\/wp-content\/uploads\/2020\/07\/\u5957\u5229\u9ad8\u9891\u91cf\u5316\u4ea4\u66133.jpg 640w, https:\/\/tradewithgalaxy.com\/cn\/kb\/wp-content\/uploads\/2020\/07\/\u5957\u5229\u9ad8\u9891\u91cf\u5316\u4ea4\u66133-300x225.jpg 300w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2ad012b elementor-widget elementor-widget-text-editor\" data-id=\"2ad012b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div 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