中文翻译与英英解释

〔美国〕第四市场〔投资者之间直接进行的末挂牌证券的交易〕。

fourth:    n. 每月的四日；【音乐】四度音程，四度和音，第四音； ...

market:    n. 1.(尤指牲畜和食品的)集市；市场；菜市，菜场。 ...

Fourth market trading is direct institution-to-institution trading without using the service of broker-dealers. It is impossible to estimate the volume of fourth market activity because trades are not subject to reporting requirements.

例句与用法

There is also a “ third market ” which is the over - the - counter trading of listed stocks and a “ fourth market ” where large institutions trade directly with each other without going through brokers
“三级市场”也进行上市股票的场外交易，大型机构在“四级市场”直接交易而不通过经纪人。