The institutional defect of securities market is the exogenous reason causing liquidity risk of the open-ended fund.
证券市场制度性缺陷是开放式基金流动性风险外生性诱因。
Securities market with high mobility, and it is based on this kind of liquidity, financial assets for investors to realize the target obtains earnings.
证券市场具有高度的流动性，并且正是基于这种流动性，金融资产才能为投资者实现获取收益的目标。
The securities market will lose the foundation of existing if the trade cannot be accomplished due to lack of liquidity.
如果市场因为流动性的缺失而导致交易难以完成，那么市场就失去了存在的基础。
The securities market will lose the foundation of existing if the trade cannot be accomplished due to lack of liquidity.
如果市场因为流动性的缺失而导致交易难以完成，那么市场就失去了存在的基础。
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