natgillin/translations-raw huggingface dataset:
According to the DE-BaFin, ‘such products (CFDs) came to the public's attention primarily as a result of the ‘Swiss franc shock’ at the beginning of 2015, when the Swiss National Bank abandoned the cap on the Swiss franc's value against the euro and many CFD investors suffered major losses as a result of having to subsequently make additional payments. ’ Available at: https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Pressemitteilung/2016/pm_161208_allgvfg_cfd_en.html
Prema DE-BaFin-u, „takvi proizvodi (CFD-ovi) postali su predmetom zanimanja javnosti ponajviše zbog teške situacije sa švicarskim frankom koja se dogodila početkom 2015. kada je švicarska narodna banka ukinula gornju granicu vrijednosti švicarskog franka u odnosu na euro i mnogi su ulagatelji u CFD-ove pretrpjeli velike gubitke zbog nastalih dodatnih troškova.” Dostupno na: https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Pressemitteilung/2016/pm_161208_allgvfg_cfd_en.html
Some respondents to the call for evidence signalled that they lost more than EUR 100000 while trading CFDs.
Neki su davatelji podataka u okviru poziva na očitovanje izjavili kako su izgubili više od 100000 EUR pri trgovanju CFD-ovima.
See an example where an investor lost EUR 280000 with only EUR 2800 invested.
Pogledajte primjer kada je ulagatelj izgubio 280000 EUR, a uložio samo 2800 EUR.
Available at: https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Pressemitteilung/2016/pm_161208_allgvfg_cfd_en.html.
Dostupno na: https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Pressemitteilung/2016/pm_161208_allgvfg_cfd_en.html.
Austria, Belgium, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Lithuania, Malta, Netherlands, Romania, Spain, Slovenia and the United Kingdom, as well as Norway, Liechtenstein and Iceland.
Austrija, Belgija, Cipar, Češka, Danska, Estonija, Finska, Francuska, Njemačka, Grčka, Irska, Italija, Litva, Malta, Nizozemska, Rumunjska, Španjolska, Slovenija i Ujedinjena Kraljevina, kao i Norveška, Lihtenštajn i Island.
AT-FMA, BE-FSMA (with national measures introduced to restrict these products),CY-CySEC, CZ-CNB, DE-BaFin, DK-Finanstilsynet, EE-FSA, EL-HCMC, ES-CNMV, FI-FSA.
AT-FMA, BE-FSMA (s nacionalnim mjerama koje su uvedene kako bi se ograničili ti proizvodi), CY-CySEC, CZ-CNB, DE-BaFin, DK-Finanstilsynet, EE-FSA, EL-HCMC, ES-CNMV, FI-FSA.
IT-CONSOB, IE-CBI, FR-AFM and CZ-CNB.
IT-CONSOB, IE-CBI, FR-AFM i CZ-CNB.
In 2017, the Ελληνική Επιτροπή Κεφαλαιαγοράς (EL-HCMC), the Greek NCA, the Magyar Nemzeti Bank (HU-MNB), the Hungarian NCA, and the Národná Banka Slovenska (SK-NBS), the Slovakian NCA,, reported to ESMA that they have observed a growth in the number of applications for authorisation of CFD providers.
Ελληνική Επιτροπή Κεφαλαιαγοράς (EL-HCMC), grčki NNT, Magyar Nemzeti Bank (HU-MNB), mađarski NNT, i Národná Banka Slovenska (SK-NBS), slovački NNT, izvijestili su ESMA-u 2017. o primijećenom povećanju broja zahtjeva za odobrenje za rad ponuditelja CFD-a.
Data provided in 2015 by: BG-FSMA, CY-CySEC, CZ-CNB, FR-AMF, IE-CBI, IS-FME, LU-CSSF, NL-AFM, MT-MFSA, PT-CMVM, RO-ASF, UK-FCA.
Podatci u 2015. koje su dali: BG-FSMA, CY-CySEC, CZ-CNB, FR-AMF, IE-CBI, IS-FME, LU-CSSF, NL-AFM, MT-MFSA, PT-CMVM, RO-ASF, UK-FCA.
Data provided in 2017 by: CY-CySEC,CZ-CNB, ES-CNMV, FR-AMF, IE-CBI, LU-CSSF, NL-AFM, MT-MFSA, NO- Finanstilsynet, SK-NBS, UK-FCA.
Podatci u 2017. koje su dali: CY-CySEC, CZ-CNB, ES-CNMV, FR-AMF, IE-CBI, LU-CSSF, NL-AFM, MT-MFSA, NO-Finanstilsynet, SK-NBS, UK-FCA.
Given the frequent cross-border dimension of the activity of product providers, this figure may include clients from non-EEA States.
S obzirom na dimenziju čestog prekograničnog djelovanja ponuditelja proizvoda navedeni podatci mogu uključivati i ulagatelje iz država koje nisu dio EGP-a.
The figures provided by CY-CySEC have been compiled on the basis of accounts opened in CY-CySEC authorised providers offering these products.
Ovi podatci CY-CySEC-a prikupljeni su na temelju računa otvorenih kod ovlaštenih ponuditelja CY-CySEC-a koji nude takve proizvode.
As far as the UK is concerned, this figure does not include non-UK clients of UK authorised providers which in 2016 was estimated at approximately 400000.
Kad je riječ o Ujedinjenoj Kraljevini, taj broj ne uključuje ulagatelje ovlaštenih ponuditelja iz Ujedinjene Kraljevine koji nisu iz Ujedinjene Kraljevine kojih je 2016. bilo otprilike 400000.
For the other Member States which provided the data to ESMA, the figure may include clients from non-EEA States.
Za ostale države članice koje pružaju podatke ESMA-i podatci mogu uključivati ulagatelje iz država koje nisu dio EGP-a.
Complaints relating to CFDs have been received by the AT-FMA,, the BE-FSMA, the BG-FSC, the HR- HANFA, the CZ-CNB, the CY-CySEC, the DE-Bain, the DK-Finanstilsynet, the EE-Finantsinspektsioon, the EL-HCMC, the ES-CNMV), the FI-Finanssivalvonta, the FR-AMF, the IE-CBI), IT-CONSOB, the LT-Lietuvos Bankas, the MT-MFSA, the NL-AFM, the PL-KNF), the PT-CMVM), the RO-ASF, the SE-Finansinspektionen, the SI-ATVP, the UK-FCA and the NO-Finanstilsynet.
Pritužbe povezane s CFD-ovima zaprimili su AT-FMA, BE-FSMA, BG-FSC, HR-HANFA, CZ-CNB, CY-CySEC, DE-Bain, DK-Finanstilsynet, EE-Finantsinspektsioon, EL-HCMC, ES-CNMV, FI-Finanssivalvonta, FR-AMF, IE-CBI, IT-CONSOB, LT-Lietuvos Bankas, MT-MFSA, NL-AFM, PL-KNF, PT-CMVM, RO-ASF, SE-Finansinspektionen, SI-ATVP, UK-FCA i NO-Finanstilsynet.
For example, the Czech National Bank, the Polish KNF and the Spanish CNMV.
Na primjer Češka narodna banka, poljski KNF i španjolski CNMV.
Available at: https://www.fsma.be/en/news/fsma-regulation-establishes-framework-distribution-otc-derivatives-binary-options-cfds
Dostupno na: https://www.fsma.be/en/news/fsma-regulation-establishes-framework-distribution-otc-derivatives-binary-options-cfds.
Across a study of 30000 clients representing approximately 100 % of retail clients of CFD providers authorised by CNMV.
Rezultati istraživanja provedenog na 30000 ulagatelja koji predstavljaju oko 100 % malih ulagatelja ponuditelja CFD-ova koje je ovlastio CNMV.
Available at: http://www.amf-france.org/technique/multimedia%3FdocId%3Dworkspace%253A%252F%252FSpacesStore%252F9bf2caa8-1ce4-4832-85f4-4dffcace8644%26
Dostupno na: http://www.amf-france.org/technique/multimedia%3FdocId%3Dworkspace%253A%252F%252FSpacesStore%252F9bf2caa8-1ce4-4832-85f4-4dffcace8644%26.
See page 1 and 2.
Vidjeti stranice 1. i 2.
Those clients invested mainly in CFDs.
Ti su ulagatelji većinom ulagali u CFD-ove.
These data also include investors investing in binary options who constituted less than 4 % of active clients in 2017.
Ti podatci uključuju i ulagatelje koji ulažu u binarne opcije, a oni su činili 4 % aktivnih ulagatelja 2017.
Available at: https://www.fca.org.uk/publication/consultation/cp16-40.pdf.
Dostupno na: https://www.fca.org.uk/publication/consultation/cp16-40.pdf.
See page 23 and 35.
Vidjeti stranice 23. i 35.
Available at: https://www.fca.org.uk/publication/correspondence/dear-ceo-letter-cfd-review-findings.pdf
Dostupno na: https://www.fca.org.uk/publication/correspondence/dear-ceo-letter-cfd-review-findings.pdf.
Representing approximately 33 % to 50 % of all CFD retail clients active in Norway.
Otprilike je riječ o 33 % do 50 % svih malih ulagatelja u CFD-ove koji su aktivni u Norveškoj.
Published in Norwegian: https://www.finanstilsynet.no/nyhetsarkiv/nyheter/2017/finanstilsynet-advarer-mot-handel-i-cfd/
Objavljeno na norveškom jeziku: https://www.finanstilsynet.no/nyhetsarkiv/nyheter/2017/finanstilsynet-advarer-mot-handel-i-cfd/
For example, based on Thomson Reuters Lipper data on retail share classes of the EU-domiciled UCITS fund universe, ESMA estimates that the average annual investor return, weighted by assets, net of charges and front and back loads, was around 3 % over the period 2008-2017, with more than 5 % return on average for equity fund investments.
Na primjer, na temelju podataka poduzeća Thomson Reuters Lipper o klasama dionica malih ulagatelja fondova subjekata za zajednička ulaganja u prenosive vrijednosne papire (UCITS) utemeljenih u EU-u, ESMA procjenjuje da je prosječan povrat ulaganja ulagatelja, ponderiran imovinom, neto naknadama te jednokratnim i dugoročnim provizijama, iznosio oko 3 % u razdoblju od 2008. do 2017., s u prosjeku više od 5 % povrata u za investicijske fondove.
Further details on performance and costs relating to EU UCITS may be found in the ESMA Report on Trends, Risks and Vulnerabilities No 2 2017, pages 36-44, available at https://www.esma.europa.eu/sites/default/files/library/esma50-165-416_trends_risks_and_vulnerabilities_no.2_2017.pdf).
Pojedinosti o rezultatima i troškovima povezanima s EU UCITS-ima mogu se pronaći u ESMA-inom izvješću o trendovima, rizicima i osjetljivostima br. 2, 2017., str. 36.–44., dostupnom na https://www.esma.europa.eu/sites/default/files/library/esma50-165-416_trends_risks_and_vulnerabilities_no.2_2017.pdf).
A study on the offer of CFDs and rolling spot forex to retail clients was conducted by the MT-MFSA.
Istraživanje ponude CFD-ova i proizvoda rolling spot forex za ulagatelje proveo je MT-MFSA.
Previously Article 19(5) of Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments amending Council Directives 85/611/EEC and 93/6/EEC and Directive 2000/12/EC of the European Parliament and of the Council and repealing Council Directive 93/22/EEC (OJ L 145, 30.4.2004, p. 1).
Prethodno članak 19. stavak 5. Direktive 2004/39/EZ Europskog parlamenta i Vijeća od 21. travnja 2004. o tržištima financijskih instrumenata te o izmjeni direktiva Vijeća 85/611/EEZ i 93/6/EEZ i Direktive 2000/12/EZ Europskog parlamenta i Vijeća te stavljanju izvan snage Direktive Vijeća 93/22/EEZ (SL L 145, 30.4.2004., str. 1.).
Annex IV to Directive 2014/65/EU provides a correlation table between the requirements of Directive 2004/39/EC and the requirements of Directive 2014/65/EU and Regulation (EU) No 600/2014.
U Prilogu IV. Direktive 2014/65/EU utvrđena je korelacijska tablica za zahtjeve Direktive 2004/39/EZ i zahtjeve Direktive 2014/65/EU te Uredbe (EU) br. 600/2014.
This risk is possibly magnified by the overconfidence bias which has often been observed in recent behavioural studies.
Taj se rizik može povećati pretjeranim samopouzdanjem koje je često prisutno u nedavnim istraživanjima ponašanja.
A recent study focussing on forex markets demonstrates that leverage is a significant indicator of overconfidence: Forman, John H. and Horton, Joanne, Is Leverage Use a Better Indication for Overconfidence?
Nedavno istraživanje usmjereno na devizno tržište pokazuje kako je financijska poluga značajan pokazatelj prekomjernog samopouzdanja: Forman, John H. i Horton, Joanne, Is Leverage Use a Better Indication for Overconfidence?
For example, DE - BaFin, DK- Finanstilsynet, ES-CNMV, IE-CBI, FR-AMF, LU-CSSF NL-AFM.
Na primjer DE-BaFin, DK-Finanstilsynet, ES-CNMV, IE-CBI, FR-AMF, LU-CSSF NL-AFM.
For example, IE-CBI.
Na primjer IE-CBI.
For example, the UK-FCA.
Na primjer UK-FCA.
Questions and Answers (Q&As) relating to the provision of CFDs and other speculative products to retail investors under MiFID (ESMA-35-36-794) as updated on 31 March 2017.
Pitanja i odgovori koji se odnose na ponudu CFD-ova i ostalih špekulativnih proizvoda malim ulagateljima u skladu s ažuriranom verzijom MiFID-a (ESMA-35-36-794) od 31. ožujka 2017.
For example, BE-FSMA, ES-CNMV, FR-AMF and IT-CONSOB.
Na primjer BE-FSMA, ES-CNMV, FR-AMF i IT-CONSOB.
Section 3 of Questions and Answers (Q&As) relating to the provision of CFDs and other speculative products to retail investors under MiFID (ESMA-35-36-794) as updated on 31 March 2017 and one example from UK-FCA.
Treći dio pitanja i odgovora koji se odnose na ponudu CFD-ova i ostalih špekulativnih proizvoda malim ulagateljima u skladu s ažuriranom verzijom MiFID-a (ESMA-35-36-794) od 31. ožujka 2017. i jedan primjer UK-FCA-a.
For example, ES-CNMV.
Na primjer ES-CNMV.
UK-FCA, CY-CySEC and DE-BaFin.
UK-FCA, CY-CySEC i DE-BaFin.
In particular the UK-FCA.
Posebno UK-FCA.
In Germany legislation was introduced to protect clients from losses (DE-BaFin General Administrative Act published on 8 May 2017. It bans the marketing, distribution or sale of CFDs to retail clients that do not exclude additional payment obligations).
U Njemačkoj je doneseno zakonodavstvo za zaštitu ulagatelja od gubitaka (Opći upravni akt DE-BaFin-a objavljen 8. svibnja 2017. Njime se zabranjuje stavljanje na tržište, distribucija ili prodaja CFD-ova koji ne isključuju dodatne platne obveze malim ulagateljima).
ES-CNMV for example found that clients usually operate for a short time given the negative results obtained.
ES-CNMV je primjerice primijetio kako ulagatelji obično trguju kratko zbog ostvarenih negativnih rezultata.
Section 6 of the Questions and Answers (Q&As) relating to the provision of CFDs and other speculative products to retail investors under MiFID (ESMA-35-36-794) as updated on 31 March 2017 states that it is unlikely that a firm offering a bonus that is designed to incentivise retail clients to trade in complex speculative products such as CFDs, CFDs and rolling spot forex could demonstrate that it is acting honestly, fairly and professionally and in the best interests of its retail clients.
U skladu sa šestim odjeljkom pitanja i odgovora koji se odnose na ponudu CFD-ova i ostalih špekulativnih proizvoda malim ulagateljima u skladu s ažuriranom verzijom MiFID-a (ESMA-35-36-794) od 31. ožujka 2017. navedeno je da nije vjerojatno da poduzeće koje nudi bonus u svrhu poticanja malih ulagača da trguju složenim špekulativnim proizvodima, kao što su CFD-ovi i proizvodi rolling spot forexa, može pokazati da djeluje pošteno, pravedno i profesionalno te da postupa u najboljem interesu svojih malih ulagatelja.
For example, FR-AMF, UK-FCA and ES-CNMV.
Na primjer FR-AMF, UK-FCA i ES-CNMV.
For example, CZ-CNB, FR-AMF, HU-MNB, LU-CSSF and UK-FCA.
Na primjer CZ-CNB, FR-AMF, HU-MNB, LU-CSSF i UK-FCA.
Section 2 of Questions and Answers (Q&As) relating to the provision of CFDs and other speculative products to retail investors under MiFID (ESMA35-36-794) as updated on 31 March 2017 discusses some of these conflicts of interest in more detail.
Drugi dio pitanja i odgovora koji se odnose na ponudu CFD-ova i ostalih špekulativnih proizvoda malim ulagateljima u skladu s ažuriranom verzijom MiFID-a (ESMA35-36-794) od 31. ožujka 2017. detaljnije obrađuje takve sukobe interesa.
Previously Article 19(4) and (5) of Directive 2004/39/EC.
Prethodno članak 19. stavci 4. i 5. Direktive 2004/39/EZ.
Commission Delegated Regulation (EU) 2017/653 of 8 March 2017 supplementing Regulation (EU) No 1286/2014 of the European Parliament and of the Council on key information documents for packaged retail and insurance-based investment products (PRIIPs) by laying down regulatory technical standards with regard to the presentation, content, review and revision of key information documents and the conditions for fulfilling the requirement to provide such documents (OJ L 100, 12.4.2017, p. 1).
Delegirana uredba Komisije (EU) 2017/653 od 8. ožujka 2017. o dopuni Uredbe (EU) br. 1286/2014 Europskog parlamenta i Vijeća o dokumentima s ključnim informacijama za upakirane investicijske proizvode za male ulagatelje i investicijske osigurateljne proizvode (PRIIP-ovi) utvrđivanjem regulatornih tehničkih standarda u vezi s prikazom, sadržajem, preispitivanjem i revizijom dokumenata s ključnim informacijama te uvjetima za ispunjavanje zahtjeva za dostavu tih dokumenata (SL L 100, 12.4.2017., str. 1.).
For example, the IE-CBI expressed concerns on the criteria used to assess knowledge and experience for the purposes of the assessment following their themed inspection (https://www.centralbank.ie/news/article/inspection-finds-75-percent-of-cfd-clients-lost-money).
Na primjer, IE-CBI izrazio je zabrinutost u pogledu kriterija koji se upotrebljavaju za procjenu znanja i iskustva u svrhu procjene prikladnosti, nakon provedene tematske inspekcije (https://www.centralbank.ie/news/article/inspection-finds-75-percent-of-cfd-clients-lost-money).
Furthermore, firm data received by the UK-FCA in Q1 2017 from CFD providers shows that, at some of the largest retail CFD providers in the UK (representing approximately 70 % of the relevant UK market), approximately 50 % of clients had failed the appropriateness test but continued to trade after receiving an enhanced risk warning.
Nadalje, podatci o poduzećima koje je UK-FCA zaprimio od ponuditelja CFD-ova u prvom tromjesečju 2017. pokazuju da je kod nekih od najvećih ponuditelja CFD-ova malim ulagateljima u Ujedinjenoj Kraljevini (koji čine oko 70 % relevantnog britanskog tržišta) otprilike 50 % ulagatelja palo na procjeni prikladnosti, ali je svejedno nastavilo trgovati nakon što su primili upozorenje o povećanom riziku.
Furthermore, the UK-FCA has observed repeated failings by firms in relation to the adequacy of their appropriateness assessments and related policies and procedures (see above).
Nadalje, UK-FCA primijetio je opetovane nedostatke kod poduzeća u pogledu adekvatnosti njihovih procjena prikladnosti i povezanih politika i postupaka (vidjeti gore).
Questions and Answers (Q&As) relating to the provision of CFDs and other speculative products to retail investors under MiFID (ESMA35-36-794) as updated on 31 March 2017.
Pitanja i odgovori koji se odnose na ponudu CFD-a i drugih špekulativnih proizvoda malim ulagateljima u skladu s Direktivom o tržištima financijskih instrumenata (ESMA35-36-794) ažurirani 31. ožujka 2017.
ESMA ‘Guidelines on MiFID II product governance requirements’ of 2 June 2017 (ESMA35-43-620).
ESMA-ine „Smjernice za zahtjeve za upravljanje proizvodima iz MiFID-a II” od 2. lipnja 2017. (ESMA35-43-620)
For example London Capital Group Ltd, Dom Maklerski TMS Brokers S.A., GKFX Financial Services Limited, AxiCorp Financial Services Pty Ltd, Swissquote and also some confidential responses explicitly referred to a 100:1 leverage.
Na primjer London Capital Group Ltd, Dom Maklerski TMS Brokers S.A., GKFX Financial Services Limited, AxiCorp Financial Services Pty Ltd, Swissquote te određeni povjerljivi odgovori koji se izričito odnose na polugu 100:1.
Regulation of the BE-FSMA governing the distribution of certain derivative financial instruments to the clients.
Uredba BE-FSMA-a o upravljanju distribucijom određenih izvedenih financijskih instrumenata ulagateljima.
CY-CySEC Circular No C168, dated 30 November 2016.
Cirkular br. C168 CY-CySEC-a od 30. studenoga 2016.
Available at: http://legislacja.gov.pl/docs//2/12300403/12445426/12445427/dokument298571.pdf
Dostupno na: http://legislacja.gov.pl/docs//2/12300403/12445426/12445427/dokument298571.pdf
Available at: https://legislacja.rcl.gov.pl/docs//2/12300403/12445438/12445439/dokument321489.pdf
Dostupno na: https://legislacja.rcl.gov.pl/docs//2/12300403/12445438/12445439/dokument321489.pdf.
The intended measures were announced by ES-CNMV's communication Measures on the Marketing of CFDs and Other Speculative Products to Retail Investors, dated 21 March 2017.
Navedene mjere objavljeno je nacionalno nadležno tijelo ES-CNMV u svojim mjerama za stavljanje na tržište CFD-ova i drugih špekulativnih proizvoda malim ulagateljima od 21. ožujka 2017.
Consultation Paper 107 on the Protection of Retail Investors in relation to the Distribution of CFDs.
Savjetodavni dokument 107. o zaštiti malih ulagatelja u pogledu distribucije CFD-ova (engl. Protection of Retail Investors in relation to the Distribution of CFDs).
Available at: https://www.finanstilsynet.no/contentassets/455795d40fe4445f88a3b71b35079c94/horingsnotat---produktintervensjon.pdf
Dostupno na: https://www.finanstilsynet.no/contentassets/455795d40fe4445f88a3b71b35079c94/horingsnotat---produktintervensjon.pdf
The CONSOB Communication was published on 13 February 2017 in the CONSOB newsletter, available at: (Italian version) http://www.consob.it/web/area-pubblica/avvisi-ai-risparmiatori/documenti/tutela/cns/2017/ct20170207.html; (English version) http://www.consob.it/web/consob-and-its-activities/newsletter/documenti/english/en_newsletter/2017/year_23_n-05_13_february_2017.html#news2
Komunikacija CONSOB-a objavljena je 13. veljače 2017. u biltenu CONSOB-a dostupnom na: (talijanska verzija) http://www.consob.it/web/area-pubblica/avvisi-ai-risparmiatori/documenti/tutela/cns/2017/ct20170207.html; (engleska verzija) http://www.consob.it/web/consob-and-its-activities/newsletter/documenti/english/en_newsletter/2017/year_23_n-05_13_february_2017.html#news2.
Available at: https://www.fca.org.uk/news/news-stories/consumer-warning-about-risks-investing-cryptocurrency-cfds
Dostupno na: https://www.fca.org.uk/news/news-stories/consumer-warning-about-risks-investing-cryptocurrency-cfds
33 % of all complaints received by the AMF in 2017 relate to CFDs and binary options.
Od svih pritužbi koje je AMF primio 2017. 33 % ih je povezano s CFD-ovima i binarnim opcijama.
In the UK and Cyprus, where most CFD providers are established, the CY-CySEC and the UK-FCA have reported an increase in the number of providers specialising in the sale of CFDs to retail clients on a cross-border basis from 103 to 138 providers and from 117 to 143 providers respectively between 2016 and 2017.
U Ujedinjenoj Kraljevini i Cipru, gdje je poslovni nastan većine ponuditelja CFD-ova, CY-CySEC i UK-FCA izvijestili su da postoji povećanje broja ponuditelja specijaliziranih za prodaju CFD-ova malim ulagateljima na prekograničnoj osnovi od 103 do 138 ponuditelja odnosno od 117 do 143 ponuditelja od 2016. do 2017.
Articles 34 and 35 of Directive 2014/65/EU.
Članci 34. i 35. Direktive 2014/65/EU.
The higher the leverage, the more likely client losses are because spreads and fees make up a larger proportion of the initial margin.
Što je veća financijska poluga, to su vjerojatniji ulagateljevi gubitci jer razlike i naknade čine veći dio inicijalnog iznosa nadoknade.
Higher leverage also makes it more likely that a client will lose a given percentage of the margin, increasing the risk of material detriment to the investor.
Zbog veće financijske poluge vjerojatnije je da će ulagatelj izgubiti određeni postotak iznosa nadoknade i povećati rizik materijalne štete.
Rawley Z. Heimer and Alp Simsek.
Rawley Z. Heimer i Alp Simsek.
As such, initial margin protection should also reduce the extent to which these products are distributed to particularly vulnerable investors, such as low income groups of clients.
Zaštita početne marže time bi trebala smanjiti i razmjer u kojem se ti proizvodi distribuiraju posebno ranjivim ulagateljima, kao što su skupine ulagatelja s niskim primanjima.
Leverage limits are for instance in force in the US, Japan, Hong Kong and Singapore.
Ograničenja financijske poluge na snazi su na primjer u SAD-u, Japanu, Hong Kongu i Singapuru.
Leverage limits and minimum margin requirements are also included in IOSCO's Consultation Paper dated February 2018 available at: http://www.iosco.org/library/pubdocs/pdf/IOSCOPD592.pdf
Ograničenja financijske poluge i zahtjevi u pogledu minimalne marže također su uključeni u IOSCO-ov Savjetodavni dokument iz veljače 2018. koji je dostupan na: http://www.iosco.org/library/pubdocs/pdf/IOSCOPD592.pdf.
In most cases, approximately 10 years of data were used.
U većini slučajeva upotrijebljeno je gotovo 10 godina podataka.
The exception was for some equities, for which price data was only available for the period starting at the relevant initial public offering and cryptocurrencies.
Iznimka su bili neki instrumenti za koje su podatci bili dostupni samo za razdoblje koje počinje od relevantne početne javne ponude i kriptovalute.
The cost assumptions used were based on cost data from CFD providers.
Pretpostavke u pogledu troškova temeljene su na podatcima o troškovima ponuditelja CFD-ova.
The cost assumptions were varied as part of robustness checks, which did not lead to material changes in the results.
Pretpostavke u pogledu troškova razlikovale su se kao dio provjera pouzdanosti te nisu dovele do velikih promjena rezultata.
This does not indicate that spreads, fees and charges are not a source of material detriment in general, especially at high leverage.
To ne znači da razlike, naknade i troškovi nisu izvor znatne štete općenito, posebno kod velike financijske poluge.