natgillin/translations-raw huggingface dataset:
To avoid the risks stemming from that false assumption, only omnibus segregated accounts should be allowed to be used in those longer chains of indirect clearing, provided that counterparties that are clearing through those arrangements are fully informed of the level of segregation and the risks associated with that type of account.
Da bi se izognili tveganjem, ki izhajajo iz te napačne domneve, bi bilo treba v teh daljših verigah posrednega kliringa dovoliti samo uporabo zbirnih ločenih računov pod pogojem, da se nasprotne stranke, ki opravljajo kliring prek teh ureditev, v celoti obveščene o ravni ločevanja in tveganjih, povezanih s tako vrsto računa.
To ensure that the amount of margin called within a gross omnibus indirect account structure is the same as the amount that would have been called if an individually segregated indirect clearing account had been used, a CCP should receive information on the positions held for the account of the indirect client to calculate the associated margin call on an indirect client by indirect client basis.
Da bi zagotovili, da je znesek zahtevanega kritja v strukturi bruto zbirnega posrednega računa enak kot znesek, ki bi se zahteval, če bi se uporabil posamezno ločen posredni klirinški račun, bi morala CNS prejeti informacije o pozicijah, ki se upravljajo za račun posredne stranke, da lahko izračuna povezan poziv k plačilu kritja za posredno stranko na podlagi posrednih strank.
To ensure equivalence with client clearing, a clearing member should have procedures in place to facilitate the transfer of indirect clients' positions to an alternative client following the failure of a client that provides indirect clearing services.
Da bi po propadu stranke, ki opravlja posredne klirinške storitve, zagotovili enakovrednost s kliringom za stranke, bi moral imeti klirinški član vzpostavljene postopke za poenostavitev prenosa pozicij posrednih strank na nadomestno stranko.
For the same reason, a clearing member should also have procedures to liquidate the positions and assets of the indirect clients and to return the liquidation proceeds to those indirect clients where known.
Iz istega razloga bi moral klirinški član imeti tudi postopke za unovčenje pozicij in sredstev posrednih strank ter povračilo iztržkov iz unovčenja navedenim posrednim strankam, kadar so znane.
Where, for any reason, the liquidation proceeds cannot be returned directly to the indirect clients concerned, the liquidation proceeds should be returned to the defaulting client for the account of its indirect clients.
Kadar iztržkov iz unovčenja ni mogoče vrniti neposredno zadevnim posrednim strankam, bi jih bilo treba vrniti stranki, ki je v zaostanku z izpolnitvijo obveznosti, za račun njenih posrednih strank.
Procedures should be put in place so that, in case of the default of the client, the information on the identity of the indirect clients can become known and the clearing member is able to identify which assets and positions belong to which indirect client.
Vzpostaviti bi bilo treba postopke, tako da bi v primeru neplačila stranke informacije o identiteti posrednih strank postale znane in da bi lahko klirinški član ugotovil, katera sredstva in pozicije pripadajo kateri posredni stranki.
A client providing indirect clearing services should present the indirect client with a choice of account structures.
Stranka, ki opravlja posredne klirinške storitve, bi morala posrednim strankam predstaviti možne strukture računov.
It is however possible that an indirect client has not instructed a client of its choice within a reasonable period of time.
Vendar se lahko zgodi, da posredna stranka o svoji izbiri stranke ne obvesti v razumnem času.
In that case, that client should be able to provide indirect clearing services to that indirect client by using any account structure, provided that the client informs the indirect client of the account structure used, the risks associated to that account and its level of segregation, and the possibility to change the account structure at any time.
V tem primeru bi morala imeti stranka možnost, da za to posredno stranko opravlja posredne klirinške storitve z uporabo katere koli strukture računa pod pogojem, da stranka posredno stranko obvesti o uporabljeni strukturi računa, tveganjih, povezanih s tem računom in ravni njegovega ločevanja, ter možnosti spremembe strukture računa v katerem koli trenutku.
Indirect clearing arrangements may give rise to specific risks.
Zaradi posrednih ureditev kliringa lahko nastanejo posebna tveganja.
It is therefore necessary that all the parties participating in indirect clearing arrangements, including clearing members and CCPs, identify, monitor and manage any material risks arising from those arrangements on an ongoing basis.
Zato bi morale vse stranke, udeležene v posrednih ureditvah kliringa, vključno s klirinškimi člani in CNS, stalno odkrivati, spremljati in obvladovati vsa pomembna tveganja, ki izhajajo iz take ureditve.
Appropriate sharing of information between clients and clearing members is especially important for those purposes.
V te namene je zlasti pomembna ustrezna izmenjava informacij med strankami in klirinškimi člani.
Clearing members should however ensure that that information is only used for risk management and margining purposes and that commercially sensitive information is not misused.
Vendar bi morali klirinški člani zagotoviti, da se te informacije uporabijo samo za obvladovanje tveganj in določanje kritij ter da se poslovno občutljive informacije ne zlorabljajo.
For reasons of consistency and in order to ensure the smooth functioning of the financial markets, it is necessary that the provisions of this Regulation and the relevant provisions of Regulation (EU) No 600/2014 apply from the same date.
Zaradi usklajenosti in za zagotovitev nemotenega delovanja finančnih trgov se morajo določbe te uredbe in zadevne določbe Uredbe (EU) št. 600/2014 uporabljati od istega datuma.
In accordance with Article 10 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council [4], ESMA has conducted open public consultations on the draft regulatory technical standards on which this Regulation is based, analysed the potential related costs and benefits and requested the opinion of the Securities and Markets Stakeholder Group established by Article 37 of Regulation (EU) No 1095/2010,
V skladu s členom 10 Uredbe (EU) št. 1095/2010 Evropskega parlamenta in Sveta [4] je ESMA o osnutku regulativnih tehničnih standardov, na katerem temelji ta uredba, opravila javna posvetovanja, analizirala morebitne s tem povezane stroške in koristi ter zahtevala mnenje interesne skupine za vrednostne papirje in trge, ustanovljene s členom 37 Uredbe (EU) št. 1095/2010 –
‘client’ means a client as defined in Article 2(15) of Regulation (EU) No 648/2012;
„stranka“ pomeni stranko, kot je opredeljena v členu 2(15) Uredbe (EU) št. 648/2012;
‘indirect client’ means a client of a client as defined in point (a);
„posredna stranka“ pomeni stranko stranke, kot je opredeljena v točki (a);
‘indirect clearing arrangements’ means the set of contractual relationships between providers and recipients of indirect clearing services provided by a client, an indirect client or a second indirect client;
„posredne ureditve kliringa“ pomeni niz pogodbenih razmerij med ponudniki in prejemniki posrednih klirinških storitev, ki jih opravlja stranka, posredna stranka ali druga posredna stranka;
‘second indirect client’ means a client of an indirect client as defined in point (b);
„druga posredna stranka“ pomeni stranko posredne stranke, kot je opredeljena v točki (b);
‘third indirect client’ means a client of a second indirect client as defined in point (d).
„tretja posredna stranka“ pomeni stranko druge posredne stranke, kot je opredeljena v točki (d).
Requirements for the provision of indirect clearing services by clients
Zahteve za opravljanje posrednih klirinških storitev s strani strank
A client may only provide indirect clearing services to indirect clients provided that all of the following conditions are fulfilled:
Stranka lahko posredne klirinške storitve za posredne stranke opravlja samo, če so izpolnjeni vsi naslednji pogoji:
the client is an authorised credit institution or investment firm or an entity established in a third country that would be considered to be a credit institution or investment firm if that entity were established in the Union;
stranka je kreditna institucija ali investicijsko podjetje z dovoljenjem ali subjekt s sedežem v tretji državi, ki bi se štel za kreditno institucijo ali investicijsko podjetje, če bi imel sedež v Uniji;
the client provides indirect clearing services on reasonable commercial terms and publicly discloses the general terms and conditions under which it provides those services;
stranka posredne klirinške storitve opravlja pod razumnimi poslovnimi pogoji in javno razkrije splošne pogoje, pod katerimi opravlja te storitve;
the clearing member has agreed to the general terms and conditions referred to in point (b) of this paragraph.
klirinški član se je strinjal s splošnimi pogoji iz točke (b) tega odstavka.
The client referred to in paragraph 1 and the indirect client shall conclude, in writing, an indirect clearing arrangement.
Stranka iz odstavka 1 in posredna stranka pisno skleneta posredno ureditev kliringa.
The indirect clearing arrangement shall include at least the following contractual terms:
Posredna ureditev kliringa vključuje vsaj naslednje pogodbene pogoje:
the general terms and conditions referred to in paragraph 1(b);
splošne pogoje iz odstavka 1(b);
the client's commitment to honour all obligations of the indirect client towards the clearing member with regard to the transactions covered by the indirect clearing arrangement.
zavezo stranke, da bo izpolnila vse obveznosti posredne stranke do klirinškega člana v zvezi s posli, ki jih zajema posredna ureditev kliringa.
All aspects of the indirect clearing arrangement shall be clearly documented.
Vsi vidiki posredne ureditve kliringa so jasno evidentirani.
A CCP shall not prevent the conclusion of indirect clearing arrangements that are entered into on reasonable commercial terms.
CNS ne prepreči sklenitve ureditve posrednega kliringa, ki se sklene pod razumnimi poslovnimi pogoji.
A CCP shall open and maintain any of the accounts referred to in Article 4(4) in accordance with the request of the clearing member.
CNS odpre in vodi račune iz člena 4(4) v skladu z zahtevkom klirinškega člana.
A CCP that holds the assets and positions of several indirect clients in an account as referred to in Article 4(4)(b) shall keep separate records of the positions of each indirect client, calculate the margins in respect of each indirect client and collect the sum of those margins on a gross basis, based on the information referred to in Article 4(3).
CNS, ki vodi sredstva in pozicije več posrednih strank na računu iz člena 4(4)(b), vodi ločeno evidenco pozicij za vsako posredno stranko, izračunava kritja za vsako posredno stranko in pobere bruto vsoto navedenih kritij na podlagi informacij iz člena 4(3).
A CCP shall identify, monitor and manage any material risks arising from the provision of indirect clearing services that could affect the resilience of the CCP to adverse market developments.
CNS odkriva, spremlja in obvladuje vsa pomembna tveganja, ki izhajajo iz opravljanja posrednih klirinških storitev in bi lahko vplivala na odpornost CNS proti neugodnim gibanjem na trgu.
A clearing member that provides indirect clearing services shall do so on reasonable commercial terms and shall publicly disclose the general terms and conditions under which it provides those services.
Klirinški član, ki opravlja posredne klirinške storitve, to počne pod razumnimi poslovnimi pogoji in javno razkrije splošne pogoje, pod katerimi opravlja te storitve.
The general terms and conditions referred to in the first subparagraph shall include the minimum financial resources and operational capacity requirements for clients that provide indirect clearing services.
Splošni pogoji iz prvega pododstavka vključujejo vsaj zahteve glede minimalnih finančnih sredstev in operativnih zmogljivosti za stranke, ki opravljajo posredne klirinške storitve.
A clearing member that provides indirect clearing services shall open and maintain at least the following accounts in accordance with the request of the client:
Klirinški član, ki opravlja posredne klirinške storitve, v skladu z zahtevkom stranke odpre in vodi vsaj naslednje račune:
an omnibus account with the assets and positions held by that client for the account of its indirect clients;
zbirni račun s sredstvi in pozicijami, ki jih ta stranka upravlja za račun svojih posrednih strank;
an omnibus account with the assets and positions held by that client for the account of its indirect clients, in which the clearing member shall ensure that the positions of an indirect client do not offset the positions of another indirect client and that the assets of an indirect client cannot be used to cover the positions of another indirect client.
zbirni račun s sredstvi in pozicijami, ki jih ta stranka upravlja za račun svojih posrednih strank, na katerem klirinški član zagotovi, da pozicije ene posredne stranke ne pobotajo pozicij druge posredne stranke in da sredstev ene posredne stranke ni mogoče uporabiti za pokritje pozicij druge posredne stranke.
A clearing member holding assets and positions for the account of several indirect clients in an account as referred to in paragraph 2(b) shall provide the CCP on a daily basis with all the necessary information to allow the CCP to identify the positions held for the account of each indirect client.
Klirinški član, ki upravlja sredstva in pozicije za račun več posrednih strank na računu iz odstavka 2(b), CNS vsak dan zagotovi vse potrebne informacije, ki ji omogočijo, da identificira pozicije, ki se upravljajo za račun vsake posredne stranke.
That information shall be based on the information referred to in Article 5(4).
Te informacije temeljijo na informacijah iz člena 5(4).
A clearing member that provides indirect clearing services shall at least open and maintain in the CCP the following accounts in accordance with the request made by the client:
Klirinški član, ki opravlja posredne klirinške storitve, pri CNS v skladu z zahtevkom stranke odpre in vodi vsaj naslednje račune:
a segregated account for the exclusive purpose of holding the assets and positions of indirect clients held by the clearing member in an account as referred to in paragraph 2(a);
ločen račun, ki je namenjen izključno upravljanju sredstev in pozicij posrednih strank, ki jih klirinški član upravlja na računu iz odstavka 2(a);
a segregated account for the exclusive purpose of holding the assets and positions of indirect clients of each client held by the clearing member in an account as referred to in paragraph 2(b).
ločen račun, ki je namenjen izključno upravljanju sredstev in pozicij posrednih strank vsake stranke, ki jih klirinški član upravlja na računu iz odstavka 2(b).
A clearing member shall establish procedures to manage the default of a client that provides indirect clearing services.
Klirinški član vzpostavi postopke za upravljanje v primeru neplačila stranke, ki opravlja posredne klirinške storitve.
A clearing member holding the assets and positions of indirect clients in an account as referred to in paragraph 2(a) shall:
Klirinški član, ki upravlja sredstva in pozicije posrednih strank na računu iz odstavka 2(a):
ensure that the procedures referred to in paragraph 5 allow for the prompt liquidation of those assets and positions following the default of a client, including the liquidation of those assets and positions at the level of the CCP, and include a detailed procedure to communicate to the indirect clients the default of the client and the expected period of time to liquidate the assets and positions of those indirect clients;
zagotovi, da postopki iz odstavka 5 omogočajo takojšnje unovčenje navedenih sredstev in pozicij po neplačilu stranke, vključno z unovčenjem navedenih sredstev in pozicij na ravni CNS, ter vključujejo podroben postopek za obveščanje posrednih strank o neplačilu stranke ter o pričakovanem obdobju za unovčenje sredstev in pozicij navedenih posrednih strank;
after the completion of the default management process for the default of a client, readily return to that client, for the account of the indirect clients, any balance owed from the liquidation of those assets and positions.
po zaključku postopka upravljanja neplačila stranke tej stranki za račun posrednih strank nemudoma vrne saldo, ki ga dolguje iz naslova unovčenja navedenih sredstev in pozicij.
A clearing member holding assets and positions of indirect clients in an account as referred to in paragraph 2(b) shall:
Klirinški član, ki upravlja sredstva in pozicije posrednih strank na računu iz odstavka 2(b):
include in the procedures referred to in paragraph 5:
v postopke iz odstavka 5 vključi:
the steps to transfer the assets and positions held by a defaulting client for the account of its indirect clients to another client or to a clearing member;
ukrepe za prenos sredstev in pozicij, ki jih za račun svojih posrednih strank upravlja stranka, ki je v zaostanku z izpolnitvijo obveznosti, na drugo stranko ali klirinškega člana;
the steps to pay each indirect client the proceeds from the liquidation of the assets and positions of that indirect client;
ukrepe, da se vsaki posredni stranki izplačajo iztržki iz unovčenja sredstev in pozicij te posredne stranke;
a detailed procedure to communicate to the indirect clients the default of the client and the expected period of time to liquidate the assets and positions of those indirect clients;
podroben postopek za obveščanje posrednih strank o neplačilu stranke in o pričakovanem obdobju za unovčenje sredstev in pozicij teh posrednih strank;
contractually commit itself to trigger the procedures for the transfer of the assets and positions held by a defaulting client for the account of its indirect clients to another client or clearing member that has been designated by the relevant indirect clients of the defaulting client at the request of those indirect clients and without obtaining the consent of the defaulting client.
se pogodbeno obveže, da bo na zahtevo posrednih strank in brez soglasja stranke, ki je v zaostanku z izpolnitvijo obveznosti, sprožil postopke za prenos sredstev in pozicij, ki jih za račun svojih strank upravlja stranka, ki je v zaostanku z izpolnitvijo obveznosti, na drugo stranko ali klirinškega člana, ki so ga določile zadevne posredne stranke stranke, ki je v zaostanku z izpolnitvijo obveznosti.
That other client or clearing member shall be obliged to accept those assets and positions only where that other client or clearing member has previously entered into a contractual relationship with those relevant indirect clients committing to do so;
Ta druga stranka ali klirinški član je ta sredstva in pozicije dolžen sprejeti le, če je pred tem že vstopil v pogodbeno razmerje z navedenimi zadevnimi posrednimi strankami in se zavezal, da bo to storil;
ensure that the procedures referred to in paragraph 5 allow for the prompt liquidation of those assets and positions following the default of a client, including the liquidation of those assets and positions at the level of the CCP, in case the transfer referred to in point (b) has not taken place for any reason within a predefined transfer period specified in the indirect clearing arrangement;
zagotovi, da postopki iz odstavka 5 omogočajo takojšne unovčenje navedenih sredstev in pozicij po neplačilu stranke, vključno z unovčenjem navedenih sredstev in pozicij na ravni CNS, če iz katerega koli razloga ni prišlo do prenosa iz točke (b) v vnaprej opredeljenem obdobju za prenos, določenem v posredni ureditvi kliringa;
following the liquidation of those assets and positions, contractually commit itself to trigger the procedures for the payment of the liquidation proceeds to each of the indirect clients;
po unovčenju navedenih sredstev in pozicij se pogodbeno obveže, da bo sprožil postopke za izplačilo iztržkov iz unovčenja vsaki od posrednih strank;
where the clearing member has not been able to identify the indirect clients or to complete the payment of the liquidation proceeds referred to in point (d) to each of the indirect clients, readily return to the client for the account of the indirect clients any balance owed from the liquidation of those assets and positions.
kadar klirinški član ni mogel identificirati posrednih strank ali izplačati iztržkov iz unovčenja iz točke (d) vsaki od posrednih strank, stranki za račun posrednih strank nemudoma vrne saldo, ki ga dolguje iz naslova unovčenja navedenih sredstev in pozicij.
A clearing member shall identify, monitor and manage any material risks arising from the provision of indirect clearing services that could affect its resilience to adverse market developments.
Klirinški član odkriva, spremlja in obvladuje vsa pomembna tveganja, ki izhajajo iz opravljanja posrednih klirinških storitev in bi lahko vplivala na njegovo odpornost proti neugodnim gibanjem na trgu.
The clearing member shall establish internal procedures to ensure that the information referred to in Article 5(8) cannot be used for commercial purposes.
Klirinški član vzpostavi notranje postopke za zagotovitev, da informacij iz člena 5(8) ni mogoče uporabiti v poslovne namene.
A client that provides indirect clearing services shall offer indirect clients a choice between at least the types of accounts referred to in Article 4(2) and shall ensure that those indirect clients are fully informed about the different levels of segregation and the risks associated with each type of account.
Stranka, ki opravlja posredne klirinške storitve, posrednim strankam ponudi, da lahko izbirajo vsaj med vrstama računov iz člena 4(2), in zagotovi, da so navedene posredne stranke v celoti seznanjene z različnimi stopnjami ločevanja in tveganji, povezanimi z vsako vrsto računa.
The client referred to in paragraph 1 shall assign one of the types of accounts referred to in Article 4(2) to indirect clients that have not chosen one within a reasonable period of time established by the client.
Stranka iz odstavka 1 posrednim strankam, ki niso izbrale vrste računa v razumnem času, ki ga je določila, dodeli eno od vrst računa iz člena 4(2).
The client shall inform the indirect client about the risks associated with the type of account assigned without undue delay.
Stranka posredno stranko nemudoma seznani s tveganji, povezanimi z dodeljeno vrsto računa.
The indirect client may choose a different type of account at any time by requesting so in writing to the client.
Posredna stranka lahko kadar koli izbere drugo vrsto računa, in sicer tako, da to pisno zahteva od stranke.
A client that provides indirect clearing services shall keep separate records and accounts that enable it to distinguish between its own assets and positions and those held for the account of its indirect clients.
Stranka, ki opravlja posredne klirinške storitve, vodi ločene evidence in račune, ki ji omogočajo, da loči svoja sredstva in pozicije od sredstev in pozicij, ki jih upravlja za račun svojih posrednih strank.
Where the assets and positions of several indirect clients are held by the clearing member in an account as referred to in Article 4(2)(b), the client shall provide the clearing member with all the necessary information on a daily basis to allow the clearing member to identify the positions held for the account of each indirect client.
Kadar klirinški član sredstva in pozicije več posrednih strank vodi na računu iz člena 4(2)(b), stranka klirinškemu članu dnevno zagotovi vse potrebne informacije, ki mu omogočajo, da identificira pozicije, ki se upravljajo za račun vsake posredne stranke.
A client that provides indirect clearing services shall, in accordance with the choice of its indirect clients, request the clearing member to open and maintain in the CCP the accounts referred to in Article 4(4).
Stranka, ki opravlja posredne klirinške storitve, od klirinškega člana v skladu z izbiro njegovih posrednih strank zahteva, da pri CNS odpre in vodi račune iz člena 4(4).