Words of the Moment

Christina skriver: Jeg er kommet bagefter med vores WoM, men her er de seneste:

handel for egen regning
EN: proprietary trading, også PPT eller PTS

Proprietary trading (also "prop trading" or PPT)
occurs when a firm trades stocks, bonds, currencies, commodities, their
derivatives, or other financial instruments, with the firm's own money as
opposed to its customers' money, so as to make a profit for itself.

Source:  http://en.wikipedia.org/wiki/Proprietary_trading

Context: A report produced by a European Union advisory group,
chaired by Bank of Finland Governor Erkki Liikanen, recommends a series of
changes to the way banks are structured and funded to make it easier for them
to be wound down if they get into trouble. Under the proposals, proprietary
trading, which involves banks attempting to profit from trading using their own
shareholders’ funds, will in future have to be placed within a separate legal
vehicle to ensure that it poses no risk to a lender’s deposit-taking business.

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9581526/EU-plans-curbs-on-bank-risk-taking.html

Note: market making is considered a form of proprietary trading.


market maker/prisstiller
market making/prisstilling

EN: market making/maker

A market maker is a company, or an individual,
that quotes both a buy and a sell price in a financial instrument or commodity
held in inventory, hoping to make a profit on the bid-offer spread, or turn.
Most foreign exchange trading firms are market makers and so are many banks.

A market maker aims to make money by buying
stock at a lower price than the price at which they sell it, or selling the
stock at a higher price than they buy it back. Ordinarily, they can make money
in both rising or falling markets, by taking advantage of the difference
between "bid" and "offer" prices.
Source> wikipedia

egenveksel (ordregældsbrev i nogle EU-tekster) vs veksel
EN: promissory note vs bill of exchange

Promissory note:
A written, dated and signed two-party instrument containing an
unconditional promise by the maker to pay a definite sum of money to a
payee on demand or at a specified future date.

The only difference between a promissory note and a bill of exchange is
that the maker of a note pays the payee personally, rather than ordering
a third party to do so.
Read more: http://www.investopedia.com/terms/p/promissorynote.asp#ixzz2Jrp2JVQs

Bill of exchange:
A non-interest-bearing written order used primarily in international trade
that binds one party to pay a fixed sum of money to another party at a
predetermined future date.

Bills of exchange are similar to checks and promissory notes. They can
be drawn by individuals or banks and are generally transferable by
endorsements.

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. If these bills
are issued by a bank, they can be referred to as bank drafts. If they
are issued by individuals, they can be referred to as trade drafts.
Read more: http://www.investopedia.com/terms/b/billofexchange.asp#ixzz2KDCX9nZK

ALSO: IATE, WIkipedia...

Context: Rome I regulation
http://europa.eu/legislation_summaries/justice_freedom_security/judicial_cooperation_in_civil_matters/jl0006_en.htm