求翻译：包销。即投资银行按议定价格直接从发行者手中购进将要发行的全部证券，然后再出售给投资者。投资银行必须在指定的期限内，包销证券所筹的的资金全部交付给发行人。采用这种销售方式，承销商要承担销售和价格的全部风险。这样，发行失败的风险就从发行者转移给了承销商。然而，承销商承担风险是要获得补偿的，这种补偿通常就是通过扩大包销差价来实现的。对于发行人而言，他无需承担证券销售不出去的风险，而且可以迅速筹集资金，因而特别适合于那些资金需求量大、社会知名度低而且缺乏证券发行经验的发行人。是什么意思？

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The underwriters. The investment bank at an agreed price directly from the hands of the publisher of the purchase of the release of all securities and then sold to the investors. Investment Bank must be within the specified period, the investment of underwriting of securities of all funds entrusted

Having exclusive selling rights.Namely the investment bank according to agreed the price directly purchases the complete negotiable securities from the publisher hand which is going to distribute, then sells again gives the investor.The investment bank must in the deadline which assigns, has exclusi

Underwriters. Investment banking at an agreed price is purchased directly from the hands of all the securities to be issued and sold to investors. Investment banks must be within the specified time limit, raise all funds entrusted to underwrite securities by issuer. This way, the underwriters to bea

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