Chinese English translation sample-Dalian Commodity Exchange (DCE)

（Translated by freelance Chinese translator li – English to Chinese translation or Chinese to English translation services- financial translation）

大连商品交易所Level-2 数据流说明
大连商品交易所Level-2 行情在基本行情的基础之上，增加五级深度委托行情、最佳买卖价位上前十笔分笔委托量、加权平均委买价格、加权平均委卖价格、委托买总量、委托卖总量、实时结算价以及分价位成交量统计。下面以上数据流做详细说明：

一、五级深度委托
五级深度委托行情的发送频率为每秒4 次。五级深度委托行情包含从卖五到买五共十档深度行情。每档包括价格、总量和推导量。推导量即为套利行情向基本行情的推导量。五级深度委托行情中的套利行情是由套利合约直接委托产生的行情，请信息服务商按照附件一《套利行情计算》所提供的算法进行处理，以支持由基本市场向套利市场的推导行情。

二、最佳买卖价位分笔委托量
最佳买卖价位分笔委托量行情的发送频率为每秒4 次。最佳买卖价位分笔委托量行情只包含最优买价位和最优卖价位上由基本合约（非套利合约）委托产生的前十笔委托量，该前十笔委托量按照时间排序。最佳买卖价位分笔委托量行情只提供基本合约（包括期权合约）的最佳买卖价位分笔委托量，不提供套利合约的最佳买卖价位分笔委托量。

三、委托买卖总量、加权平均买卖价格
委托买卖总量、加权平均买卖价格的发送频率为每秒4 次。委托买卖总量、加权平均买卖价格行情只提供基本合约（包括期权合约）的委托买卖总量、加权平均买卖价格，不提供套利合约的委托买卖总量、加权平均买卖价格。

四、实时结算价
实时结算价行情的发送频率为每6 秒1 次。实时结算价行情只提供基本合约（包括期权合约）的实时结算价，不提供套利合约的实时结算价。

五、分价位成交量统计
分价位成交量统计行情的发送频率为每6 秒1 次。分价位成交量统计行情提供5 个成交量最大的价位区间，分别显示每个价位区间上的买开、卖开、买平、卖平成交量。每个价位区间涵盖三个Tick ，每个价位区间的价格标识为这三个Tick 价位的最小值。分价位成交量统计行情只提供基本合约（包括期权合约）的分价位成交量统计，不提供套利合约的分价位成交量统计。

Explanation of Level-2 Data Flows of Dalian Commodity Exchange (DCE)
In addition to basic market information, the Level-2 information system of DCE provides statistics of 5-level detailed order information , each of the first ten ordered volumes on the best buy/sell price, weighted average ordered buy price, weighted average ordered sell price, total ordered buy volume, total ordered sell volume, real-time clearing price and transaction volume at each price . Detailed explanation of these data flows is provided as follows:

1. 5-level detailed order information
5-level detailed order information is released by 4 times per second. Such information includes ten ordered quotes information from sell-5 to buy-5, and each quote includes price, total volume and implied volume, which is calculated from spread market quotes to basic market quotes. In 5-level detailed order information, the spread market quotes is from arbitrage contracts ordered directly, so information service providers are advised to process the data according to Appendix A (Calculation of Spread Market Quotes) to achieve spread market quotes in virtue of basic market information.

2. Each of ordered volumes on the best buy/sell price
Information of each of ordered volumes on the best buy/sell price is released by 4 times per second.. Such information only includes the first ten ordered volumes based on basic contracts (non-arbitrage contracts) ordered on the best buy/sell prices, which are ordered according to time. It only provides each of ordered volumes on the best buy/sell price of basic contracts(including option contracts) , and doesn’t provide that of arbitrage contracts .

3. Total ordered buy/sell volume & weighted average ordered buy/sell price
Information of total ordered buy/sell volume & weighted average ordered buy/sell price is released by 4 times per second. Such information only includes total ordered buy/sell volume & weighted average ordered buy/sell price based on basic contracts (including option contracts) , and doesn’t include that of arbitrage contracts .

4. Real-time clearing price
Information of. real-time clearing price is released by 1 times per 6 seconds . Such information only provides real-time clearing price of basic contracts( including option contracts) , and doesn’t provide that of arbitrage contracts.

5. Statistics of transaction volume at each price
Information of transaction volum at each price is released by 1 times per 6 seconds. Such information provides 5 price ranges with the largest transaction volums, which shows transaction volume of buy to open, sell to open, buy to close and sell to close in each of the price ranges. Each price range covers 3 ticks, the price flag of which is the lowest one of the 3 tick prices . Such information only provides transaction volume at each price of basic contracts(including option contracts), and doesn’t provide that of arbitrage contracts.