natgillin/translations-raw huggingface dataset:
Ved »swaption« forstås en kontrakt, som giver ejeren retten, men ikke forpligtelsen, til at indgå en swapaftale på eller indtil en bestemt dato i fremtiden eller en udnyttelsesdato.
‘Average daily turnover (ADT)’ means the total turnover for a particular financial instrument determined according to the volume measure set out in Table 4 of Annex II and executed in the period set out in Article 13(7), divided by the number of trading days in that period or, where applicable, that part of the year during which the financial instrument was admitted to trading or traded on a trading venue and was not suspended from trading.
Ved »future on a swap« forstås en future, som giver ejeren forpligtelsen til at indgå en swapaftale på eller indtil en bestemt dato i fremtiden.
‘Average daily notional amount (ADNA)’ means the total notional amount for a particular financial instrument determined according to the volume measure set out in Table 4 of Annex II and executed in the period set out in Article 13(18) for all bonds except ETCs and ETNs and in Article 13(7) for all the other financial instruments, divided by the number of trading days in that period or, where applicable, that part of the year during which the financial instrument was admitted to trading or traded on a trading venue and was not suspended from trading.
Ved »forward on a swap« forstås en forwardkontrakt, som giver ejeren forpligtelsen til at indgå en swapaftale på eller indtil en bestemt dato i fremtiden.
‘Percentage of days traded over the period considered’ means the number of days in the period set out in Article 13(18) for all bonds except ETCs and ETNs and in Article 13(7) for structured finance products, on which at least one transaction has been executed for that financial instrument, divided by the number of trading days in that period or, where applicable, that part of the year during which the financial instrument was admitted to trading or traded on a trading venue and was not suspended from trading.
Obligationer
‘Average daily number of trades’ means the total number of transactions executed for a particular financial instrument in the period set out in Article 13(18) for all bonds except ETCs and ETN and in Article 13(7) all the other financial instruments, divided by the number of trading days in that period or, where applicable, that part of the year during which the financial instrument was admitted to trading or traded on a trading venue and was not suspended from trading.
Tabel 2.1
‘Future’ means a contract to buy or sell a commodity or financial instrument in a designated future date at a price agreed upon at the initiation of the contract by the buyer and seller.
Obligationer (alle former for obligationer undtagen ETC'er og ETN'er) — klasser, for hvilke der ikke findes et likvidt marked
Every futures contract has standard terms that dictate the minimum quantity and quality that can be bought or sold, the smallest amount by which the price may change, delivery procedures, maturity date and other characteristics related to the contract.
Aktivklasse — obligationer (alle former for obligationer undtagen ETC'er og ETN'er)
‘Option’ means a contract that gives the owner the right, but not the obligation, to buy (call) or sell (put) a specific financial instrument or commodity at a predetermined price, strike or exercise price, at or up to a certain future date or exercise date.
Det enkelte finansielle instrument anses for ikke at have et likvidt marked, jf. artikel 6 og artikel 8,1, litra b), hvis det ikke opfylder én eller alle af følgende tærskelværdier for kriteriet for kvantitativ likviditet på et kumulativt grundlag
‘Swap’ means a contract in which two parties agree to exchange cash flows in one financial instrument for those of another financial instrument at a certain future date.
Gennemsnitlig daglig notionel værdi
‘Portfolio Swap’ means a contract by which end-users can trade multiple swaps.
[kriteriet for kvantitativ likviditet 1]
‘Forward’ or ‘Forward agreement’ means a private agreement between two parties to buy or sell a commodity or financial instrument at a designated future date at a price agreed upon at the initiation of the contract by the buyer and seller.
Gennemsnitligt antal daglige handler
‘Swaption’ means a contract that gives the owner the right, but not the obligation, to enter a swap at or up to a certain future date or exercise date.
[kriteriet for kvantitativ likviditet 2]
‘Future on a swap’ means a future contract that gives the owner the obligation, to enter a swap at or up to a certain future date.
Procentdel af dage, der er blevet handlet i den betragtede periode
‘Forward on a swap’ means a forward contract that gives the owner the obligation, to enter a swap at or up to a certain future date.
[kriteriet for kvantitativ likviditet 3]
Bonds
100000 EUR
Table 2.1
Tabel 2.2
Bonds (all bond types except ETCs and ETNs) — classes not having a liquid market
Den enkelte obligation anses for ikke at have et likvidt marked, jf. artikel 13,18, hvis den er karakteriseret ved en specifik kombination af obligationstype og udstedelsesstørrelse som fastsat i hver række i tabellen
Asset class — Bonds (all bond types except ETCs and ETNs)
Obligationstype
Each individual financial instrument shall be determined not to have a liquid market as per Articles 6 and 8(1)(b) if it does not meet one or all of the following thresholds of the quantitative liquidity criteria on a cumulative basis
Udstedelsens størrelse
Average daily notional amount
Statsobligation
[quantitative liquidity criteria 1]
en obligation, der er udstedt af en statslig udsteder, som enten er:
Average daily number of trades
Unionen
[quantitative liquidity criteria 2]
en medlemsstat, herunder en offentlig myndighed, et organ eller et SPV-selskab i en medlemsstat
Percentage of days traded over the period considered
en statslig enhed, der ikke er opført under litra a) og b).
[quantitative liquidity criteria 3]
mindre end (EUR)
EUR 100000
Andre offentlige obligationer
Table 2.2
en obligation, der er udstedt af en af følgende offentlige udstedere
Each individual bond shall be determined not to have a liquid market as per Article 13(18) if it is characterised by a specific combination of bond type and issuance size as specified in each row of the table.
når der er tale om en medlemsstat, som er en forbundsstat, et medlem af denne forbundsstat
Bond Type
et SPV-selskab for flere medlemsstater
Issuance size
en international finansiel institution oprettet af to eller flere medlemsstater, som har til formål at mobilisere kapital og stille finansiel bistand til rådighed for de af dens medlemmer, der er ramt eller truet af alvorlige finansielle problemer,
Sovereign Bond
Den Europæiske Investeringsbank
means a bond issued by a sovereign issuer which is either:
en offentlig enhed, som ikke er udsteder af en statsobligation som specificeret i foregående række
the Union;
Konvertibel obligation
a Member State including a government department, an agency or a special purpose vehicle of a Member State;
et instrument, der består af en obligation eller et securitiseret gældsinstrument med et indbygget afledt finansielt instrument, som f.eks. en option på køb af det underliggende aktieinstrument
a sovereign entity which is not listed under points (a) and (b).
Dækket obligation
smaller than (in EUR)
obligation som omhandlet i artikel 52,4, i direktiv 2009/65/EF
Other Public Bond
i fase S1 og S2
means a bond issued by any of the following public issuers:
i fase S3 og S4
in the case of a federal Member State, a member of that federation;
Erhvervsobligation
a special purpose vehicle for several Member States;
en obligation udstedt af et Societas Europaea, der er oprettet i overensstemmelse med Rådets forordning (EF) 2001/2157 [1], eller af en selskabstype, der er opført i artikel 1 i Europa-Parlamentets og Rådets direktiv 2009/101/EF [2] eller tilsvarende i tredjelande
an international financial institution established by two or more Member States which have the purpose of mobilising funding and providing financial assistance to the benefit of its members that are experiencing or are threatened by severe financial problems;
Ved fastlæggelsen af de finansielle instrumenter, der anses for ikke at have et likvidt marked, jf. artikel 13,18, anvendes følgende metodologi
the European Investment Bank;
Andre obligationer
a public entity which is not an issuer of a sovereign bond as specified in the previous row.
En obligation, der ikke hører til en af de ovennævnte obligationstyper, anses for ikke at have et likvidt marked
Convertible Bond
Tabel 2.3
means an instrument consisting of a bond or a securitised debt instrument with an embedded derivative, such as an option to buy the underlying equity
Obligationer (alle former for obligationer undtagen ETC'er og ETN'er) — tærskelværdier for LIS og SSTI (før- og efterhandel)
Covered Bond
Transaktioner, der skal indgå i beregningen af tærskelværdier pr. obligationstype
means bonds as referred to in Article 52(4) of Directive 2009/65/EC
Percentilværdier, der skal anvendes ved beregning af tærskelværdier for LIS og SSTI (før- og efterhandel) for hver enkelt obligationstype
during stages S1 and S2
SSTI (førhandel)
during stages S3 and S4
LIS (førhandel)
Corporate Bond
SSTI (efterhandel)
means a bond that is issued by a Societas Europaea established in accordance with Council Regulation (EC) No 2157/2001 [1] or a type of company listed in Article 1 of Directive 2009/101/EC of the European Parliament and of the Council [2] or equivalent in third countries
LIS (efterhandel)
For the purpose of the determination of the financial instruments considered not to have a liquid market as per Article 13(18), the following methodology shall be applied
Handel — percentil
Other Bond
Minimumstærskel
A bond that does not belong to any of the above bond types is considered not to have a liquid market
transaktioner, der er gennemført i statsobligationer efter udelukkelsen af transaktioner som omhandlet i artikel 13,10
Table 2.3
300000 EUR
Bonds (all bond types except ETCs and ETNs) — pre-trade and post-trade SSTI and LIS thresholds
transaktioner, der er gennemført i andre offentlige obligationer efter udelukkelsen af transaktioner som omhandlet i artikel 13,10
Transactions to be considered for the calculation of the thresholds per bond type
transaktioner, der er gennemført i konvertible obligationer efter udelukkelsen af transaktioner, som anført i artikel 13,10
Percentiles to be applied for the calculation of the pre-trade and post-trade SSTI and LIS thresholds for each bond type
200000 EUR
SSTI pre-trade
transaktioner, der er gennemført i dækkede obligationer efter udelukkelsen af transaktioner, som anført i artikel 13,10
LIS pre-trade
transaktioner, der er gennemført i erhvervsobligationer efter udelukkelsen af transaktioner som omhandlet i artikel 13,10
SSTI post-trade
Andre obligationer
LIS post-trade
transaktioner, der er gennemført i andre obligationer efter udelukkelsen af transaktioner som omhandlet i artikel 13,10
Trade — percentile
Tabel 2.4
threshold floor
Obligationer (obligationer af typen ETC og ETN) — klasser, for hvilke der ikke findes et likvidt marked
transactions executed on Sovereign Bonds following the exclusion of transactions as specified in Article 13(10)
Aktivklasser — obligationer (obligationer af typen ETC og ETN)
EUR 300000
Obligationstype
transactions executed on Other Public Bonds following the exclusion of transactions as specified in Article 13(10)
Det enkelte finansielle instrument anses for ikke at have et likvidt marked, jf. artikel 6 og artikel 8,1, litra b), hvis det ikke opfylder ét eller alle af følgende tærskelværdier for kriteriet for kvantitativ likviditet
transactions executed on Convertible Bonds following the exclusion of transactions as specified in Article 13(10)
Gennemsnitlig daglig omsætning
EUR 200000
[kriteriet for kvantitativ likviditet 1]
transactions executed on Covered Bonds following the exclusion of transactions as specified in Article 13(10)
[kriteriet for kvantitativ likviditet 2]
transactions executed on Corporate Bonds following the exclusion of transactions as specified in Article 13(10)
Exchange Traded Commodities (ETC'er)
Other Bonds
er et gældsinstrument, der udstedes som følge af udsteders direkte investering i råvarer eller i råvarederivatkontrakter.
transactions executed on Other Bonds following the exclusion of transactions as specified in Article 13(10)
Prisen på en ETC er direkte eller indirekte knyttet til udviklingen i underliggende aktiv.
Table 2.4
En ETC afspejler passivt udviklingen i den råvare eller de råvareindeks, som den er knyttet til.
Bonds (ETC and ETN bond types) — classes not having a liquid market
500000 EUR
Asset class — Bonds (ETC and ETN bond types)
Exchange Traded Notes (ETN'er)
Bond type
er et gældsinstrument, der udstedes som følge af udsteders direkte investering i det underliggende aktiv eller i underliggende derivatkontrakter.
Each individual financial instrument shall be determined not to have a liquid market as per Articles 6 and 8(1)(b) if it does not meet one or all of the following thresholds of the quantitative liquidity criteria
Prisen på en ETN er direkte eller indirekte knyttet til det udviklingen i det underliggende aktiv.
Average daily turnover (ADT)
En ETN afspejler passivt udviklingen i det underliggende aktiv, som den er knyttet til.
[quantitative liquidity criterion 1]
Tabel 2.5
[quantitative liquidity criterion 2]
Obligationer (obligationer af typen ETC og ETN) — tærskelværdier for LIS og SSTI (før- og efterhandel)
Exchange Traded Commodities (ETCs)
Tærskelværdier for LIS og SSTI (før- og efterhandel) for hvert enkelt instrument, der anses for at have et likvidt marked
a debt instrument issued against a direct investment by the issuer in commodities or commodities derivative contracts.
Tærskelværdi
The price of an ETC is directly or indirectly linked to the performance of the underlying.
ETC'er
An ETC passively tracks the performance of the commodity or commodity indices to which it refers.
1000000 EUR
EUR 500000
50000000 EUR
Exchange Traded Notes (ETNs)
ETN'er
a debt instrument issued against a direct investment by the issuer in the underlying or underlying derivative contracts.
Tærskelværdier for LIS og SSTI (før- og efterhandel) for hvert enkelt instrument, der anses for ikke at have et likvidt marked
The price of an ETN is directly or indirectly linked to the performance of the underlying.
900000 EUR
An ETN passively tracks the performance of the underlying to which it refers.
45000000 EUR
Table 2.5
Strukturerede finansielle produkter
Bonds (ETC and ETN bond types) — pre-trade and post-trade SSTI and LIS thresholds
Tabel 3.1
Pre-trade and post-trade SSTI and LIS thresholds for each individual instrument determined to have a liquid market
Strukturerede finansielle produkter — klasser, for hvilke der ikke findes et likvidt marked
Threshold value
Aktivklasse — Strukturerede finansielle produkter
ETCs
Test 1 — Evaluering af aktivklassen strukturerede finansielle produkter
EUR 1000000
Evaluering af aktivklassen strukturerede finansielle produkter med henblik på fastlæggelsen af, om de finansielle instrumenter anses for ikke at have et likvidt marked, jf. artikel 6 og artikel 8,1, litra b)
EUR 50000000
Transaktioner, der skal indgå i beregningen af værdier vedrørende kriteriet for kvantitativ likviditet i relation til evalueringen af aktivklassen strukturerede finansielle produkter
ETNs
Aktivklassen strukturerede finansielle produkter vil blive evalueret gennem anvendelsen af følgende tærskelværdier vedrørende kriteriet for kvantitativ likviditet
Pre-trade and post-trade SSTI and LIS thresholds for each individual instrument determined not to have a liquid market
Gennemsnitlig daglig notionel værdi (ADNA)
EUR 900000
Transaktioner gennemført i alle strukturerede finansielle produkter
EUR 45000000
300000000 EUR
Structured Finance Products (SFPs)
Test 2 — strukturerede finansielle produkter, der ikke har et likvidt marked
Table 3.1
Hvis værdierne vedrørende kriteriet for kvantitativ likviditet begge ligger over de tærskler for kvantitativ likviditet, der er fastsat for evalueringen af aktivklassen strukturerede finansielle produkter, er test 1 bestået, og test 2 gennemføres.
SFPs — classes not having a liquid market
Tabel 3.2
Asset class — Structured Finance Products (SFPs)
Strukturerede finansielle produkter — tærskelværdier for SSTI og LIS (før- og efterhandel), hvis test 1 ikke bestås
Test 1 — SFPs asset-class assessment
Tærskelværdier for SSTI og LIS (før- og efterhandel), hvis test 1 ikke bestås
SFPs asset-class assessment for the purpose of the determination of the financial instruments considered not to have a liquid market as per Articles 6 and 8(1)(b)
250000 EUR
Transactions to be considered for the calculations of the values related to the quantitative liquidity criteria for the purpose of the SFPs asset-class assessment
Tabel 3.3
The SFPs asset-class shall be assessed by application of the following thresholds of the quantitative liquidity criteria
Strukturerede finansielle produkter — tærskelværdier for SSTI og LIS (før- og efterhandel), hvis test 1 bestås
Average daily notional amount (ADNA)
Transaktioner, der skal indgå i beregningen af tærskelværdier
Transactions executed in all SFPs
Percentiler og minimumstærskler, der skal anvendes i forbindelse med beregningen af tærskelværdier for SSTI og LIS (før- og efterhandel) for strukturerede finansielle produkter, der anses for at have et likvidt marked, hvis test 1 bestås
EUR 300000000
Minimumstærskel
Test 2 — SFPs not having a liquid market
Transaktioner gennemført i alle strukturerede finansielle produkter, der anses for at have et likvidt marked
If the values related to the quantitative liquidity criteria are both above the quantitative liquidity thresholds set for the purpose of the SFPs asset-class assessment, then Test 1 is passed and Test-2 shall be performed.
Tærskelværdier for LIS og SSTI (før- og efterhandel) for strukturerede finansielle produkter, der anses for ikke at have et likvidt marked, hvis test 1 bestås
Table 3.2
Tabel 4.1
SFPs — pre-trade and post-trade SSTI and LIS thresholds if Test 1 is not passed
Securitiserede derivater — klasser, for hvilke der ikke findes et likvidt marked
Pre-trade and post-trade SSTI and LIS thresholds for all SFPs if Test 1 is not passed
Aktivklasse — securitiserede derivater
EUR 250000
et afhændeligt værdipapir som defineret i artikel 4, stk. 1, nr. 44), litra c), i direktiv 2014/65/EU, der adskiller sig fra et struktureret finansielt produkt; klassen omfatter som minimum:
Table 3.3
almindelige covered warrants, der er værdipapirer, som giver indehaver ret, men ikke pligt til på eller inden udløbsdatoen at købe (sælge) en bestemt mængde af det underliggende aktiv til en forud fastsat strikekurs eller, såfremt der er aftalt kontant indfrielse, betaling af den positive difference mellem den gældende markedspris, (strikekursen), og strikekursen (den gældende markedspris)
SFPs — pre-trade and post-trade SSTI and LIS thresholds if Test 1 is passed
certifikater til gearing er certifikater, hvor udviklingen i det underliggende aktiv er gearet
Transactions to be considered for the calculation of the thresholds
eksotiske covered warrants er covered warrants, hvis hovedbestanddel er en kombination af optioner
Percentiles and threshold floors to be applied for the calculation of the pre-trade and post-trade SSTI and LIS thresholds for SFPs determined to have a liquid market if Test 1 is passed
omsættelige rettigheder
Threshold floor
investeringscertifikater er certifikater, hvor udviklingen i det underliggende aktiv ikke er gearet
Transactions executed in all SFPs determined to have a liquid market
Ved fastlæggelsen af de klasser af finansielle instrumenter, der anses for ikke at have et likvidt marked, jf. artikel 6 og artikel 8,1, litra b), anvendes følgende metodologi
Pre-trade and post-trade SSTI and LIS thresholds for SFPs determined not to have a liquid market if Test 1 is passed
alle securitiserede derivater anses for at have et likvidt marked
Table 4.1
Tabel 4.2
Securitised derivatives — classes not having a liquid market
Securitiserede derivater — tærskelværdier for SSTI og LIS (før- og efterhandel)
Asset class — Securitised Derivatives
Tærskelværdier for LIS og SSTI (før- og efterhandel)
means a transferable security as defined in Article 4(1)(44)(c) of Directive 2014/65/EU different from structured finance products and should include at least:
50000 EUR
plain vanilla covered warrants means securities giving the holder the right, but not the obligation, to purchase (sell), at or by the expiry date, a specific amount of the underlying asset at a predetermined strike price or, in case cash settlement has been fixed, the payment of the positive difference between the current market price (the strike price) and the strike price (the current market price);
60000 EUR
leverage certificates means certificates that track the performance of the underlying asset with leverage effect;
90000 EUR
exotic covered warrants means covered warrants whose main component is a combination of options;
Tabel 5.1
negotiable rights;
Rentederivater — klasser, for hvilke der ikke findes et likvidt marked
investment certificates means certificates that track the performance of the underlying asset without leverage effect.
Aktivklasse — rentederivater
For the purpose of the determination of the classes of financial instruments considered not to have a liquid market as per Articles 6 and 8(1)(b) the following methodology shall be applied
enhver kontrakt, som defineret i bilag I, afsnit C, punkt 4, i direktiv 2014/65/EU, hvis egentlige underliggende aktiv er en rente, en obligation, en kurv, en portefølje eller et indeks, der omfatter en rente, en obligation, et lån eller ethvert andet produkt, der repræsenterer udviklingen i en rente, en obligation, et lån.
all securitised derivatives are considered to have a liquid market
Underaktivklasse
Table 4.2
Ved fastlæggelsen af de klasser af finansielle instrumenter, der anses for ikke at have et likvidt marked, jf. artikel 6 og artikel 8,1, litra b), inddeles hver underaktivklasse yderligere i underklasser som angivet nedenfor
Securitised derivatives — pre-trade and post-trade SSTI and LIS thresholds
Den enkelte underklasse anses for ikke at have et likvidt marked, jf. artikel 6 og artikel 8,1, litra b), hvis den ikke opfylder én eller alle af følgende tærskelværdier for kriteriet for kvantitativ likviditet.
Pre-trade and post-trade SSTI and LIS thresholds
For underklasser, der anses for at have et likvidt marked, anvendes i givet fald det supplerende kriterium om kvalitativ likviditet
EUR 50000
det supplerende kriterium om kvalitativ likviditet
EUR 60000
Obligationsbaserede future-/forwardkontrakter
EUR 90000
en underklasse for obligationsbaserede future-/forwardkontrakter defineres ved følgende segmenteringskriterier:
Table 5.1
Segmenteringskriterium 1 — udsteder af det underliggende aktiv
Interest rate derivatives — classes not having a liquid market
Segmenteringskriterium 2 — løbetid for den underliggende obligation, som kan leveres, defineret som følger:
Asset class — Interest Rate Derivatives
Kortfristet: den underliggende obligation, som kan leveres, og som har en løbetid på mellem 1 og 4 år, anses for at være kortfristet
any contract as defined in Annex I, Section C(4) of Directive 2014/65/EU whose ultimate underlying is an interest rate, a bond, a loan, any basket, portfolio or index including an interest rate, a bond, a loan or any other product representing the performance of an interest rate, a bond, a loan.
Mellemfristet: den underliggende obligation, som kan leveres, og som har en løbetid på mellem 4 og 8 år, anses for at være mellemfristet
Sub-asset class
Langfristet: den underliggende obligation, som kan leveres, og som har en løbetid på mellem 8 og 15 år, anses for at være langfristet
For the purpose of the determination of the classes of financial instruments considered not to have a liquid market as per Articles 6 and 8(1)(b), each sub-asset class shall be further segmented into sub-classes as defined below