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In October 2002, Goldman Sachs and Deutsche Bank【C1】______a new electronic market for economic indices that 【C2】______ substanti
In October 2002, Goldman Sachs and Deutsche Bank【C1】______a new electronic market for economic indices that 【C2】______ substanti
admin
2019-06-10
16
问题
In October 2002, Goldman Sachs and Deutsche Bank【C1】______a new electronic market for economic indices that 【C2】______ substantial economic risks, such as nonfarm payroll (a measure of job availability) and retail sales. This new market was made possible by a 【C3】______ rating technology, developed by Longitude, a New York company providing software for financial markets,【C4】______the Parimutuel Digital Call Auction. This is "digital" 【C5】______ of a digital option: i.e., it pays out only if an underlying index lies in a narrow, discrete range. In effect, Longitude has created a horse race, where each "horse" wins if and 【C6】______ the specified index falls in a specified range. By creating horses for every possible 【C7】______ of the index, and allowing people to bet 【C8】______ any number of runners, the company has produced a liquid integrated electronic market for a wide array of options on economic indices.
Ten years ago it was【C9】______impossible to make use of electronic information about home values. Now, mortgage lenders have online automated valuation models that allow them to estimate values and to【C10】______the risk in their portfolios. This has led to a proliferation of types of home loan, some of【C11】______have improved risk-management characteristics.
We are also beginning to see new kinds of【C12】______for homes, which will make it possible to protect the value of【C13】______, for most people, is the single most important【C14】______of their wealth. The Yale University-Neighbourhood Reinvestment Corporation programme,【C15】______last year in the city of Syracuse, in New York state, may be a model for home-equity insurance policies that【C16】______sophisticated economic indices of house prices to define the【C17】______of the policy. Electronic futures markets that are based on econometric indices of house prices by city, already begun by City Index and IG Index in Britain and now【C18】______developed in the United States, will enable home-equity insurers to hedge the risks that they acquire by writing these policies.
These examples are not impressive successes yet. But they【C19】______as early precursors of a technology that should one day help us to deal with the massive risks of inequality that【C20】______will beset us in coming years.
【C6】
选项
A、when
B、until
C、now that
D、only if
答案
D
解析
考查语法结构。根据空格前后的递进性的句意逻辑,合适的关系词是D.only if“只有”,表示条件。when意为“当…的时候”,until意为“直到…才”,now that意为“既然”,均不符合题意。
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0
考研英语一
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