为什么大宗交易折价？这是一个在金融领域中备受关注的问题，也是投资者和交易员们需要了解的知识。以下是对这一问题的分析及其英文翻译。

首先，大宗交易折价的原因之一是市场供需关系。在某些情况下，市场上的大宗交易需求方可能需要在短时间内购买大量股票、债券或其他资产，而供应方可能无法满足这种需求。为了尽快完成交易，需求方可能会选择折价购买，以吸引供应方。英文翻译为：One reason for the discounted price of block trades is the relationship between supply and demand in the market. In some cases, the demand side of block trades may need to purchase a large number of stocks, bonds or other assets in a short period of time, while the supply side may not be able to meet this demand. To complete the transaction as soon as possible, the demand side may choose to purchase at a discounted price to attract the supply side.

其次，大宗交易折价的原因还包括交易成本和市场流动性。在某些情况下，进行大宗交易需要承担较高的交易成本，如手续费、佣金等。此外，市场流动性也是影响大宗交易价格的重要因素。如果市场流动性不足，交易双方可能需要进行折价交易，以降低交易成本并加快交易速度。英文翻译为：Another reason for the discounted price of block trades is transaction costs and market liquidity. In some cases, block trades involve high transaction costs, such as fees and commissions. Additionally, market liquidity is an important factor that affects the price of block trades. If market liquidity is insufficient, both sides of the transaction may need to discount their prices to reduce transaction costs and accelerate trading speeds.

综上所述，大宗交易折价的原因主要是市场供需关系、交易成本和市场流动性。这些因素共同影响着大宗交易的价格和交易速度。投资者和交易员在参与大宗交易时，需要充分了解这些因素，并合理评估自己的投资风险和收益，以做出明智的投资决策。英文翻译为：In summary, the main reasons for the discounted price of block trades are the relationship between supply and demand in the market, transaction costs, and market liquidity. These factors jointly affect the price and transaction speed of block trades. Investors and traders need to fully understand these factors when participating in block trades and reasonably evaluate their investment risks and returns to make wise investment decisions.