Glossary entry (derived from question below)
French term or phrase:
à dénouement monétaire
English translation:
cash-settled
Added to glossary by
Rob Grayson
Jul 23, 2009 08:11
14 yrs ago
10 viewers *
French term
United Kingdom
à dénouement monétaire
French to English
Bus/Financial
Investment / Securities
I have encountered this phrase in a text about the financial dealings of a French quoted company. Here's the context:
"La société X a conclu entre [date] et [date], avec plusieurs banques, des total return swaps (TRS) ***à dénouement monétaire***, à hauteur de Y% du capital de la société Z."
I know what a TRS is, but am unsure about the addition of "à dénouement monétaire". I guess it means "cash-settled", or something similar. Then again, I'm wondering whether it needs to be explicitly translated at all, or whether its meaning is implicit in that of a TRS.
Any insight appreciated – TIA.
"La société X a conclu entre [date] et [date], avec plusieurs banques, des total return swaps (TRS) ***à dénouement monétaire***, à hauteur de Y% du capital de la société Z."
I know what a TRS is, but am unsure about the addition of "à dénouement monétaire". I guess it means "cash-settled", or something similar. Then again, I'm wondering whether it needs to be explicitly translated at all, or whether its meaning is implicit in that of a TRS.
Any insight appreciated – TIA.
Proposed translations
(English)
| 4 | cash-settled |
rkillings
|
References
| exclusivement en espèces |
Michèle Voyer
|
Proposed translations
14 hrs
Selected
cash-settled
Your instinct was correct.
cf. "The world of cash-settled equity total return swaps has become significantly more uncertain due to a recent decision in the US District Court case of CSX Corporation v. The Children's Investment Fund Management (UK) LLP, (TCI) et al.1 In that decision, Judge Lewis Kaplan concluded that one of the defendant hedge funds, TCI, had entered into cash-settled total return swaps …"
cf. "The world of cash-settled equity total return swaps has become significantly more uncertain due to a recent decision in the US District Court case of CSX Corporation v. The Children's Investment Fund Management (UK) LLP, (TCI) et al.1 In that decision, Judge Lewis Kaplan concluded that one of the defendant hedge funds, TCI, had entered into cash-settled total return swaps …"
4 KudoZ points awarded for this answer.
Comment: "Thanks for the confirmation, Bob – I had to deliver the translation yesterday, and used "cash-settled""
Reference comments
25 mins
Michèle Voyer
Switzerland
Switzerland
Native in French
&
English
Switzerland
law & international affairs background
Native in: French (Variant: Standard-France) 
, English
Works in: English to French
Reference:
exclusivement en espèces
Bonjour Rob, regardez ceci qui semble confirmer qu'il s'agit bien de "cash settlement" comme vous le suggérez vous même, un document de l'AMF : http://www.amf-france.org/inetbdif/viewdoc/affiche.aspx?id=4...
--------------------------------------------------
Note added at 29 mins (2009-07-23 08:41:27 GMT)
--------------------------------------------------
I would for my part translate the expression, it is important to specify how it can be settled.
You might want to have a look at this as well : http://www.comprendrelabourse.com/Etudiants/Memoires/derived...
I am not a specialist in swaps but when I translate financial documents, I use the "principe de précaution" and stick closely to the text. You have a stronger professional background than mine in this field though.
--------------------------------------------------
Note added at 29 mins (2009-07-23 08:41:27 GMT)
--------------------------------------------------
I would for my part translate the expression, it is important to specify how it can be settled.
You might want to have a look at this as well : http://www.comprendrelabourse.com/Etudiants/Memoires/derived...
I am not a specialist in swaps but when I translate financial documents, I use the "principe de précaution" and stick closely to the text. You have a stronger professional background than mine in this field though.
Note from asker:
| Merci Michèle, ça semble en effet conforter cette interprétation... |
Something went wrong...