Application Of Skopos Theory In Translation Of Financial Derivatives

Financial derivatives are one of the essential instruments in the world financial market. They not only provide the investors the flexibility to transfer risk to others who are willing to assume, but also contribute to the effective fund-raising as well as the stability of the financial market. In order to cope with the economic globalization and fierce competition in the international capital market, China is imperative to develop and establish the standard derivatives market in the near future. One of the obstacles in the introduction and popularization of financial derivatives is stemmed from the translation. Owing to the lack of theoretical guidance of translation theory, the amateur translators were confronted with some problems in the process of translation of derivatives. In addition, the translation of terminology in this field is rather non-standardized and confusing. Based on the analysis of Skopos Theory, namely development, the basic theoretical framework, and the three key rules, the author tries to apply it to the translation practice of financial derivatives, hoping to find an appropriate and feasible theory. Skopos Theory holds that all the translational actions have the specific purpose or skopos, which determines the whole process of translation. Skopos decide the translation strategy, necessary skills, and the degree of equivalence between the source text and the target text. Skopos theory helps establish a theoretical framework for the translation of financial derivatives. That is, the target text should achieve its communicative function in the target language and culture in accordance with the target readers' expectations and needs. Skopos Rule, Coherence Rule and Fidelity Rule are the three cardinal rules in Skopos theory. They can be applied to guide the practical translation, in the processes of decision-making and problem-solving.Combined with the relevant theory of terminology, these three rules can be also effectively used during the process of standardization of terminology. Finally, skopos theory provides a unique criterion for the assessment of the translation ― adequacy, which refers to the qualities of a target text with regard to the translation brief. That is, the target text should serve the same communicative function or functions as the source text. This thesis puts forward the suggestion that skopos theory might be applied to the translation of financial derivatives, and demonstrates its feasibility and effectiveness in the translation practice. This will probably contribute to systematization and standardization of the translation of financial derivatives, therefore promotes the introduction and popularization of financial derivatives in our country.