The difference between a Promissory Note and a Bill of Exchange is that this product is transferable and can bind one party to pay a third party that was not involved in its creation.

本票与票之间的差别在于票产品是转让的，约束一方将钱支付给始时没有参与的第三方。

The value of the former may be supposed always the same, or very nearly the same; and it makes, therefore, a more convenient transferable stock than the latter.

前者的价值设总是相同或几乎相同；因此，它是一种比后者更方便的转让股票。

CDS refers to the certificate of deposit issued by the bank with fixed denomination, transferable and current.

CDS 是指银行发行的固定面额、转让和流通的存款凭证。