issuers

( Once large issuers convert together, the chip costs should drop.)

（一旦大型发行商合并,芯片成本应该会下降。）

Companies in the US raised more money through deals involving private placements than initial public offerings last year, demonstrating how issuers are increasingly shying away from the scrutiny and expense of the US public market.

美国公司去年通过私募交易筹集的资金超过了首次公开发行（ipo）的筹资额，这表明，越来越多发行股票的公司正在规避美国公开市场的严格审查和高额成本。

Successful venues can take years to develop a full spectrum of issuers, from main market proxies ( low volatility, high volumes, analyst coverage) at one end, to striplings barely out of venture capital at the other.

成功的交易所可能需要多年时间，才能发展起完整的发行商阵容，从市场的主要代表（低波动性、高交易量、分析师覆盖范围），到刚刚脱离风险资本的年轻公司。