Short seller

Short selling rules were stepped up, and more procedures were put in place to ensure that a short seller would be able to deliver stock on settlement date.

上调卖空规则，设立更多程序以确保卖空者在结算日能交付股票。

Sometimes they can disrupt the smooth flow of markets. The main risk is that when the time comes for the short seller to deliver shares, he cannot come up with the goods.

他们往往会打乱正常的市场流通，而主要的风险的在于，当卖空者需要结算股票的时候，他们却无货可出。

So if there is a default, the issuer of the credit default swap pays you, and so you gain just as the short seller gains when the price of the stock or bond that he's shorted falls.

从而一旦出现债务违约，信贷违约掉期的发行人将赔偿你，于是你就可以从中获利，正如空头在他看空的股票或债券价格下跌时获利一样。