The term elephants is a slang for large institutions that have the funds to make high-volume trades. Examples of elephants are professionally managed entities1 like mutual2 funds, pension plans, banks and insurance companies.
大象指有资本进行大额买卖的大型机构。这些机构多是由专业职员管理的,譬如,一同基金,养老金计划,银行与保险公司。
Elephants deal refers to an extremely large business deal between large institutions, typically worth more than £20 million.
大象买卖就是指如此的大型机构之间进行的超大额的商业买卖,一般买卖价值要超越2000万英镑(约合人民币1.85亿元)。