natgillin/translations-raw huggingface dataset:
the rules of the CCP provide that the cleared derivative transaction concluded on a trading venue is cleared automatically and immediately, with the clearing member referred to in point (a) becoming the counterparty to the CCP;
pravila CNS zagotavljajo, da se za posel z izvedenimi finančnimi instrumenti s kliringom, ki se sklene na mestu trgovanja, kliring opravi samodejno in takoj, pri čemer klirinški član iz točke (a) postane nasprotna stranka centralni nacionalni stranki (CNS);
the rules of the trading venue provide that the member or participant of the trading venue or its client becomes counterparty to the cleared derivative transaction, after the cleared derivative transaction is cleared, pursuant to direct or indirect clearing arrangements entered into with the clearing member.
pravila mesta trgovanja zagotavljajo, da član ali udeleženec mesta trgovanja ali njegova stranka postane nasprotna stranka pri poslu z izvedenimi finančnimi instrumenti s kliringom, potem ko se opravi kliring za posel z izvedenimi finančnimi instrumenti s kliringom v skladu z neposrednimi ali posrednimi ureditvami kliringa, sklenjenimi s klirinškim članom.
A trading venue shall provide tools to ensure pre-conclusion screening on an order-by-order basis by each clearing member of the limits set and maintained by that clearing member for its client pursuant to Commission Delegated Regulation (EU) 2017/589 [3].
Mesto trgovanja priskrbi instrumente, ki zagotavljajo da vsak klirinški član pred sklenitvijo vsakega posameznega naročila preveri omejitve, ki jih je določil in jih posodablja za svojo stranko v skladu z Delegirano uredbo Komisije (EU) 2017/589 [3].
A trading venue shall ensure before the conclusion of the order that the order of the client is within the limits applicable to this client in accordance with paragraph 2:
Mesto trgovanja pred sklenitvijo naročila zagotovi, da se naročilo za stranko izvede v okviru omejitev, ki se uporabljajo za to stranko v skladu z odstavkom 2:
within 60 seconds from the receipt of the order when the order is entered into electronically;
v 60 sekundah od prejema naročila, ko se naročilo sklene elektronsko;
within 10 minutes from the receipt of the order when the order is not entered into electronically.
v 10 sekundah od prejema naročila, ko se naročilo ne sklene elektronsko.
When the order is not within the limits applicable to the client in accordance with paragraph 2, the trading venue shall inform the client and the clearing member that the order cannot be concluded in accordance with the following timelines:
Kadar naročilo ni sklenjeno v okviru omejitev, ki se uporabljajo za stranko v skladu z odstavkom 2, mesto trgovanja stranko in klirinškega člana obvesti, da naročila ne more izvesti, in sicer v skladu s spodaj navedenimi časovnimi okviri:
where the order is entered into electronically, on a real-time basis;
v realnem času, kadar se naročilo sklene elektronsko;
where the order is not entered into electronically, within 5 minutes as from the moment when the order was checked against the applicable limits.
v 5 minutah od trenutka, ko so se za naročilo preverile omejitve, ki se uporabljajo, kadar se naročilo ne sklene elektronsko.
Time frames for the transfer of information for cleared derivative transactions concluded on a trading venue
Časovni okviri za prenos informacij za posle z izvedenimi finančnimi instrumenti s kliringom, ki se sklenejo na mestu trgovanja
The trading venue, the CCP and the clearing member shall be subject to the requirements set out in paragraphs 2 to 5 of this Article except where all the conditions set out in points (a), (b) and (c) of Article 2(1) are met.
Za mesto trgovanja, CNS in klirinškega člana veljajo zahteve iz odstavkov 2 do 5 tega člena, razen kadar so izpolnjeni vsi pogoji iz točk (a), (b) in (c) člena 2(1).
For cleared derivative transactions that are concluded on a trading venue electronically, the trading venue shall send the information related to each transaction to the CCP within 10 seconds from the conclusion of the transaction.
Za posle z izvedenimi finančnimi instrumenti s kliringom, ki se sklenejo elektronsko na mestu trgovanja, mesto trgovanja centralni nacionalni stranki (CNS) pošlje informacije v zvezi z vsakim poslom v 10 sekundah po sklenitvi posla.
For cleared derivative transactions that are concluded on a trading venue non-electronically, the trading venue shall send the information related to each transaction to the CCP within 10 minutes from the conclusion of the transaction.
Za posle z izvedenimi finančnimi instrumenti s kliringom, ki se ne sklenejo elektronsko na mestu trgovanja, mesto trgovanja centralni nacionalni stranki (CNS) pošlje informacije v zvezi z vsakim poslom v 10 minutah po sklenitvi posla.
A CCP shall accept or not accept for clearing a cleared derivative transaction concluded on a trading venue within 10 seconds from receiving the information from the trading venue and inform the clearing member and the trading venue of any non-acceptance on a real time basis.
CNS posel z izvedenimi finančnimi instrumenti s kliringom, ki se sklene na mestu trgovanja, sprejme ali ne sprejme za kliring v 10 sekundah po prejemu informacije od mesta trgovanja ter klirinškega člana in mesto trgovanja v realnem času obvesti o vsakem nesprejetju.
The clearing member and the trading venue shall inform the counterparty that concluded the cleared derivative transaction on the trading venue of the non-acceptance as soon as the CCP has informed them of a non-acceptance.
Klirinški član in mesto trgovanja o nesprejetju obvestita nasprotno stranko, ki je sklenila posel z izvedenimi finančnimi instrumenti s kliringom na mestu trgovanja, takoj ko sta od CNS prejela obvestilo o nesprejetju.
Time frames for the transfer of information for cleared derivative transactions concluded on a bilateral basis
Časovni okviri za prenos informacij za posle z izvedenimi finančnimi instrumenti s kliringom, ki se sklenejo na dvostranski podlagi
For cleared derivative transactions concluded by counterparties on a bilateral basis, the clearing member shall:
Za posle z izvedenimi finančnimi instrumenti s kliringom, ki jih nasprotne stranke sklenejo na dvostranski podlagi, klirinški član:
obtain evidence from its client of the conclusion time frame of the transaction submitted for clearing;
od svoje stranke pridobi dokaze o časovnem okviru sklenitve posla, ki se predloži za kliring;
ensure that the counterparties send to the CCP the information referred to in Article 1(2) within 30 minutes from the conclusion of the transaction.
zagotovi, da nasprotne stranke centralni nacionalni stranki (CNS) pošljejo informacije iz člena 1(2) v 30 minutah od sklenitve posla.
The CCP shall send to its clearing member the information referred to in point (b) of paragraph 1 related to the transaction within 60 seconds from receiving this information from the counterparties.
CNS svojemu klirinškemu članu pošlje informacije, ki se nanašajo na posel, iz točke (b) odstavka 1 v 60 sekundah od prejema te informacije od nasprotnih strank.
The clearing member shall accept or not accept the transaction within 60 seconds from receiving the information from the CCP.
Klirinški član posel sprejme ali ne v 60 sekundah od prejema informacije od CNS.
The CCP shall accept or not accept the clearing of a cleared derivative transaction concluded on a bilateral basis within 10 seconds from the receipt of the clearing member's acceptance or non-acceptance.
CNS posel z izvedenimi finančnimi instrumenti s kliringom, ki se sklene dvostransko, sprejme ali ne v 10 sekundah od prejema obvestila o sprejetju ali nesprejetju od klirinškega člana.
However, paragraphs 2 and 3 of this Article shall not apply where all the following conditions are met:
Vendar se odstavka 2 in 3 tega člena ne uporabljata, kadar so izpolnjeni naslednji pogoji:
the rules of the CCP ensure the setting and the maintenance on a regular basis of limits by a clearing member for its client pursuant to Delegated Regulation (EU) 2017/589;
pravila CNS zagotavljajo, da klirinški član določi in redno posodablja omejitve za svoje stranke v skladu z Delegirano uredbo (EU) 2017/589;
the rules of the CCP provide that a cleared derivative transaction that is within the limits in accordance with point (a) of this paragraph is cleared automatically by the CCP within 60 seconds from receiving the information on the cleared derivative transaction from the counterparties.
pravila CNS zagotavljajo, da CNS za posel z izvedenimi finančnimi instrumenti s kliringom, ki je v okviru omejitev v skladu s točko (a) tega odstavka, samodejno opravi kliring v 60 sekundah od prejema informacije o poslu z izvedenimi finančnimi instrumenti s kliringom od nasprotnih strank.
The CCP that does not accept for clearing a cleared derivative transaction concluded on a bilateral basis shall inform the clearing member of the non-acceptance on a real time basis.
CNS, ki ne sprejme za kliring posla z izvedenimi finančnimi instrumenti s kliringom, sklenjenega dvostransko, klirinškemu članu v realnem času pošlje obvestilo o nesprejetju.
The clearing member shall inform of the non-acceptance the counterparty that concluded the transaction as soon as it is informed by the CCP.
Klirinški član o tem obvesti nasprotno stranko, ki je sklenila ta posel, in sicer takoj ko je prejel obvestilo od CNS.
Treatment of cleared derivative transactions not accepted for clearing
Obravnava poslov z izvedenimi finančnimi instrumenti s kliringom, ki niso sprejeti za kliring
Where a cleared derivative transaction that is concluded on a trading venue electronically is not accepted by the CCP, the trading venue shall void such contract.
Kadar posla z izvedenimi finančnimi instrumenti s kliringom, ki se sklene elektronsko na mestu trgovanja, CNS ne sprejme za kliring, mesto trgovanja takšno pogodbo razglasi za nično.
Where a cleared derivative transaction, other than a cleared derivative transaction concluded on a trading venue electronically, is not accepted by the CCP, the treatment of the transaction shall be governed by:
Kadar posel z izvedenimi finančnimi instrumenti s kliringom, ki ni posel z izvedenimi finančnimi instrumenti s kliringom, sklenjen elektronsko na mestu trgovanja, CNS ne sprejme za kliring, obravnavo tega posla urejajo:
the rules of the trading venue, where the contract is submitted for clearing in accordance with the rules of the trading venue;
pravila mesta trgovanja, kadar se pogodba predloži za kliring v skladu s pravili mesta trgovanja;
the agreement between the counterparties in all other situations.
dogovor med nasprotnimi strankami v vseh drugih primerih.
Where the non-acceptance is due to a technical or clerical problem, the cleared derivative transaction can be submitted for clearing once more within one hour from the previous submission in the form of a new transaction but with the same economic terms, provided that both counterparties have agreed to the second submission.
Kadar so razlog za nesprejetje tehnične ali administrativne težave, se lahko posel z izvedenimi finančnimi instrumenti s kliringom še enkrat predloži za kliring v eni uri od predhodne predložitve v obliki novega posla, vendar pod istimi gospodarskimi pogoji, če sta se obe nasprotni stranki strinjali z drugo predložitvijo.
The trading venue on which the cleared derivative transaction was initially concluded shall not be subject to the requirements of Article 8 of Regulation (EU) No 600/2014 for the submission to clearing of the second cleared derivative transaction.
Za mesto trgovanja, na katerem je bil prvotno sklenjen posel z izvedenimi finančnimi instrumenti s kliringom, pri predložitvi za kliring drugega posla z izvedenimi finančnimi instrumenti s kliringom ne veljajo zahteve iz člena 8 Uredbe (EU) št. 600/2014.
This Regulation shall apply from the date referred to in the second paragraph of Article 55 of Regulation (EU) No 600/2014.
Ta uredba se uporablja od datuma, navedenega v drugem odstavku člena 55 Uredbe (EU) št. 600/2014.
Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012 (OJ L 173, 12.6.2014, p. 84).
UL L 173, 12.6.2014, str. 84.
Commission Delegated Regulation (EU) 2017/589 of 19 July 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards specifying the organisational requirements of investment firms engaged in algorithmic trading (see page 417 of this Official Journal).
Delegirana uredba Komisije (EU) 2017/589 z dne 19. julija 2016 o dopolnitvi Direktive 2014/65/EU Evropskega parlamenta in Sveta v zvezi z regulativnimi tehničnimi standardi o organizacijskih zahtevah za investicijska podjetja, ki se ukvarjajo z algoritemskim trgovanjem (glej stran 417 tega Uradnega lista).
supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council on markets in financial instruments with regard to regulatory technical standards on transparency requirements for trading venues and investment firms in respect of bonds, structured finance products, emission allowances and derivatives
o dopolnitvi Uredbe (EU) št. 600/2014 Evropskega parlamenta in Sveta o trgih finančnih instrumentov v zvezi z regulativnimi tehničnimi standardi o zahtevah glede preglednosti za mesta trgovanja in investicijska podjetja v zvezi z obveznicami, strukturiranimi finančnimi produkti, pravicami do emisij in izvedenimi finančnimi instrumenti
Having regard to Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012 [1], and in particular Article 1(8), Article 9(5), Article 11(4), Article 21(5) and Article 22(4) thereof,
ob upoštevanju Uredbe (EU) št. 600/2014 Evropskega parlamenta in Sveta z dne 15. maja 2014 o trgih finančnih instrumentov in spremembi Uredbe (EU) št. 648/2012 [1] in zlasti členov 1(8), 9(5), 11(4), 21(5) in 22(4) Uredbe,
A high degree of transparency is essential to ensure that investors are adequately informed as to the true level of actual and potential transactions in bonds, structured finance products, emission allowances and derivatives irrespective of whether those transactions take place on regulated markets, multilateral trading facilities (MTFs), organised trading facilities, systematic internalisers, or outside those facilities.
Visoka stopnja preglednosti je bistvena za zagotavljanje, da so vlagatelji ustrezno obveščeni o resnični ravni dejanskih in potencialnih poslov z obveznicami, strukturiranimi finančnimi produkti, pravicami do emisij in izvedenimi finančnimi instrumenti ne glede na to, ali se navedeni posli izvajajo na reguliranih trgih, v večstranskih sistemih trgovanja, organiziranih sistemih trgovanja, prek sistematičnih internalizatorjev ali zunaj teh sistemov.
This high degree of transparency should also establish a level playing field between trading venues so that the price discovery process in respect of particular financial instruments is not impaired by the fragmentation of liquidity, and investors are not thereby penalised.
Ta visoka stopnja preglednosti bi morala zagotoviti enake konkurenčne pogoje med mesti trgovanja, tako da razdrobljenost likvidnosti ne vpliva negativno na postopek oblikovanja cen posameznih finančnih instrumentov in da zato ne pride do oškodovanja vlagateljev.
At the same time, it is essential to recognise that there may be circumstances where exemptions from pre-trade transparency or deferrals of post-trade transparency obligations should be provided to avoid the impairment of liquidity as an unintended consequence of obligations to disclose transactions and thereby to make public risk positions.
Hkrati je bistveno priznati, da lahko obstajajo okoliščine, v katerih bi bilo treba zagotoviti izvzetja iz obveznosti glede preglednosti pred trgovanjem ali odlog obveznosti glede preglednosti po trgovanju, da bi se izognili poslabšanju likvidnosti kot nenačrtovani posledici obveznosti razkrivanja poslov in s tem objavi tveganosti pozicij.
Therefore, it is appropriate to specify the precise circumstances under which waivers from pre-trade transparency and deferrals from post-trade transparency may be granted.
Zato je primerno določiti natančne okoliščine, v katerih se lahko odobrijo opustitve v okviru preglednosti pred trgovanjem in odlogi v okviru preglednosti po trgovanju.
The provisions in this Regulation are closely linked, since they deal with specifying the pre-trade and post-trade transparency requirements that apply to trading in non-equity financial instruments.
Določbe te uredbe so tesno povezane, saj obravnavajo določitev zahtev glede preglednosti pred trgovanjem in po njem, ki se uporabljajo za trgovanje z nelastniškimi finančnimi instrumenti.
To ensure coherence between those provisions, which should enter into force at the same time, and to facilitate a comprehensive view for stakeholders and, in particular, those subject to the obligations, it is necessary to include these regulatory technical standards in a single Regulation.
Za zagotovitev skladnosti navedenih določb, ki bi morale začeti veljati hkrati, in da se deležnikom ter zlasti subjektom, za katere veljajo obveznosti, omogoči celovit pregled nad določbami, je treba te regulativne tehnične standarde vključiti v eno uredbo.
Where competent authorities grant waivers in relation to pre-trade transparency requirements or authorise the deferral of post-trade transparency obligations, they should treat all regulated markets, multilateral trading facilities, organised trading facilities and investment firms trading outside of trading venues equally and in a non-discriminatory manner.
Kadar pristojni organi odobrijo opustitve v zvezi z zahtevami glede preglednosti pred trgovanjem ali dovolijo odlog obveznosti glede preglednosti po trgovanju, bi bilo treba vse regulirane trge, večstranske sisteme trgovanja, organizirane sisteme trgovanja in investicijska podjetja, ki trgujejo zunaj mest trgovanja, obravnavati enako in nediskriminatorno.
It is appropriate to clarify a limited number of technical terms.
Primerno je pojasniti omejeno število strokovnih izrazov.
Those technical definitions are necessary to ensure the uniform application in the Union of the provisions contained in this Regulation and, hence, contribute to the establishment of a single rulebook for Union financial markets.
Te strokovne opredelitve pojmov so nujne za zagotovitev enotne uporabe določb iz te uredbe v Uniji in tako prispevajo k določitvi enotnega pravilnika za finančne trge Unije.
Those definitions serve only for the purpose of setting out the transparency obligations for non-equity financial instruments and should be strictly limited to understanding this Regulation.
Navedene opredelitve pojmov služijo le za namen določitve obveznosti glede preglednosti za nelastniške finančne instrumente in bi morale biti strogo omejene na razumevanje te uredbe.
Exchange-traded-commodities (ETCs) and exchange-traded notes (ETNs) subject to this Regulation should be considered as debt instruments due to their legal structure.
Instrumenti na blago, s katerimi se trguje na borzi (Exchange Traded Commodities, ETC), in zapisi, s katerimi se trguje na borzi (Exchange Traded Notes, ETN,) za katere velja ta uredba, se zaradi svoje pravne strukture štejejo kot dolžniški instrumenti.
However, since they are traded in a similar fashion to ETFs, a similar transparency regime as that of ETFs should be applied.
Ker pa se z njimi trguje podobno kot z investicijskimi skladi, s katerimi se trguje na borzi, bi bilo zanje treba uporabiti podoben sistem preglednosti kot za investicijske sklade, s katerimi se trguje na borzi.
In accordance with Regulation (EU) No 600/2014, a number of instruments should be considered to be eligible for a pre-trade transparency waiver for instruments for which there is not a liquid market.
V skladu z Uredbo (EU) št. 600/2014 bi se morala vrsta instrumentov šteti za primerne za opustitev preglednosti pred trgovanjem za instrumente, za katere likviden trg ne obstaja.
This requirement should also apply to derivatives subject to the clearing obligation which are not subject to the trading obligation as well as bonds, derivatives, structured finance products and emission allowances which are not liquid.
Ta zahteva bi se morala uporabljati tudi za izvedene finančne instrumente, za katere ne velja obveznost trgovanja, ter za obveznice, izvedene finančne instrumente, strukturirane finančne produkte in pravice do emisije, ki niso likvidni.
A trading venue operating a request for quote system should make public the firm bid and offer prices or actionable indications of interest and the depth attached to those prices no later than at the time when the requester is able to execute a transaction under the system's rules.
Mesto trgovanja, ki upravlja sistem zahtevkov za ponudbe, bi moralo objaviti zavezujoče nakupne in prodajne cene ali navedbe interesov, na podlagi katerih je mogoče ukrepati, ter globino, povezano z navedenimi cenami, najpozneje takrat, ko lahko subjekt, ki je podal zahtevek, izvrši posel v skladu s pravili sistema.
This is to ensure that members or participants who are providing their quotes to the requester first are not put at a disadvantage.
Tako se zagotovi, da člani ali udeleženci, ki prvi zagotovijo svoje ponudbe subjektu, ki je podal zahtevek, niso v slabšem položaju.
The majority of liquid covered bonds are mortgage bonds issued to grant loans for financing private individuals' purchase of a home and the average value of which is directly related to the value of the loan.
Večina likvidnih kritih obveznic je hipotekarnih obveznic, izdanih za zagotovitev posojil za financiranje nakupov stanovanjskih nepremičnin posameznikov in s povprečno vrednostjo, ki je neposredno povezana z vrednostjo posojila.
In the covered bond market, liquidity providers ensure that professional investors trading in large sizes are matched with home owners trading in small sizes.
Ponudniki likvidnosti na trgih kritih obveznic zagotavljajo, da je trgovanje profesionalnih vlagateljev v velikih obsegih usklajeno s trgovanjem lastnikov stanovanjskih nepremičnin, ki je po obsegu manjše.
To avoid disruption of this function and contingent detrimental consequences for home owners, the size specific to the instrument above which liquidity providers may benefit from a pre-trade transparency waiver should be set at a the trade size below which lie 40 percent of the transactions since this trade size is deemed reflective of the average price of a home.
Da bi preprečili motnje tega delovanja in povezane škodljive posledice za lastnike stanovanjskih nepremičnin, bi moral biti obseg, značilen za finančni instrument, nad katerim lahko ponudniki likvidnosti izkoristijo opustitev preglednosti pred trgovanjem, določen pri velikosti posla, pod katero je 40 odstotkov poslov, saj naj bi ta velikost poslov odražala povprečno ceno stanovanjske nepremičnine.
Information which is required to be made available as close to real time as possible should be made available as instantaneously as technically feasible, assuming a reasonable level of efficiency and of expenditure on systems on the part of the market operator, approved publication arrangement (APA) or investment firm concerned.
Informacije, za katere se zahteva, da so na voljo kar se da blizu realnemu času, bi bilo treba dati na voljo takoj, ko je to tehnično izvedljivo ob upoštevanju razumne mere učinkovitosti in izdatkov za sisteme s strani zadevnega upravljavca trga, sistema odobrenih objav (APA) ali investicijskega podjetja.
The information should only be published close to the prescribed maximum time limit in exceptional cases where the systems available do not allow for a publication in a shorter period of time.
Informacije bi morale biti objavljene blizu predpisanega skrajnega roka samo v izjemnih primerih, kadar sistemi, ki so na voljo, ne omogočajo objave v krajšem roku.
Investment firms should make public the details of transactions executed outside a trading venue through an APA.
Investicijska podjetja bi morala prek APA objaviti podatke o poslih, izvršenih zunaj mesta trgovanja.