Downgrades can also be trigger events in financial contracts, like credit default swaps, that force money to change hands between parties; and they have historically spooked markets.
评级下调也可能是信用违约互换(CDS)等金融合同的触发事件，迫使资金易手。历史上，评级下调也曾令市场风声鹤唳。
In the past couple of years the fastest-growing corner of these markets was credit-default swaps, which allowed people to insure against the failure of the new-fangled credit products.
在过去几年中，该市场最快的增长发生在信用违约互换(CDS)领域，利用此类和约，人们可以对这些新奇信贷产品的违约进行投保。
Some in the markets have taken fright, too: the country's credit-default swaps imply a 50% chance of default by 2015.
国内某些市场已受到惊吓。这个国家的信用违约掉期表明到了2015年委内瑞拉拖欠债务的可能性起码有50%。
The biggest worry is the effect on derivatives markets, particularly the giant one for credit-default swaps.
最令人担心是这次事件对衍生品市场的影响，特别是那些从事信贷违约交易的巨头。
CCPs are the norm in exchange-based markets but they have been scarce among surging over-the-counter (OTC) derivatives, notably the gigantic market for credit-default swaps (see chart).
集中交易对手在交易市场中很常见，但在热度高涨的衍生品场外交易市场中却十分罕有，尤其是在信用违约掉期的巨大市场中更是如此(见表)。
Pressure to trammel the markets (banning trading in credit-default swaps, setting up a more pliable European rating agency) should be dismissed as an attempt to shoot the messenger.
而限制市场（禁止信用违约互换交易，设立更易掌控的评级机构）的压力应被视作试图迁怒信使的行为而被驳回。
Pressure to trammel the markets (banning trading in credit-default swaps, setting up a more pliable European rating agency) should be dismissed as an attempt to shoot the messenger.
而限制市场（禁止信用违约互换交易，设立更易掌控的评级机构）的压力应被视作试图迁怒信使的行为而被驳回。
应用推荐