natgillin/translations-raw huggingface dataset:
ker nasvet Odbora evropskih regulativnih organov za vrednostne papirje (CESR) in Skupine evropskih regulativnih organov za električno energijo in plin (ERGEG) (ref.: CESR/08-739, E08-FIS-07-04) priporoča oblikovanje okvira neokrnjenosti in preglednosti trga po meri za trg električne energije in plina,
whereas the CESR and ERGEG advice to the European Commission in the context of the Third Energy Package (Ref.: CESR/08-739, E08-FIS-07-04) recommends the creation of a tailor-made market integrity and transparency framework for the electricity and gas markets,
ker bodo vsi napovedani ukrepi vključevali tesno in celovito sodelovanje z državami G20 in organi ZDA z namenom preprečevanja možnosti regulatorne arbitraže med državami, kjer bo to le mogoče, in spodbujanja izmenjave informacij,
whereas all the measures announced will involve close and comprehensive cooperation with the G20 countries and the US authorities in order to prevent regulatory arbitrage opportunities between countries wherever possible and to foster the exchange of information,
ker so za sistemsko tveganje, povezano s klirinškimi hišami, potrebni trdni regulativni in nadzorni standardi ter neomejen dostop regulativnih organov do informacij o transakcijah v realnem času,
whereas systemic risk associated with clearing houses requires robust regulatory and supervisory standards and unfettered real-time access to information on transactions for regulators,
ker morajo cene izvedenih finančnih instrumentov ustrezati tveganju in ker morajo stroške prihodnje tržne infrastrukture kriti udeleženci na trgu,
whereas derivatives prices should correspond appropriately to risk and whereas the cost of the future market infrastructure should be borne by market participants,
ker je nedavno drastično povečanje donosov državnih obveznic nekaterih držav euroobmočja na nevzdržne ravni razkrilo problematične ekonomske spodbude v zvezi s pogodbami o zamenjavi neplačil na državni dolg ter jasno pokazalo, da je treba okrepiti finančno stabilnost in preglednost trga, tako da se zahteva popolno razkritje informacij regulativnim organom in nadzornikom ter prepove trgovanje z zamenjavami neplačil na državni dolg,
whereas the latest dramatic rises in the sovereign bond yields of some Eurozone countries to unsustainable levels has exposed the problematic economic incentives involved in CDS contracts based on sovereign debt, and clearly shown the need to reinforce financial stability and market transparency by demanding full disclosure to regulators and supervisors and banning speculative CDS trades on sovereign debt,
ugotavlja, da sta za vse transakcije z izvedenimi finančnimi instrumenti, izdanimi v valuti EU, ki zadevajo podjetje EU in je ena od strank finančna institucija EU, potrebna kliring, če je zanje ta primeren, in prijava v klirinških hišah in registrih s sedežem v EU ter s pooblastili in pod nadzorom EU, ki jih pokriva evropska zakonodaja o varstvu podatkov; ugotavlja, da bi morala prihodnja nova regulacija določati jasna merila za oceno enakovrednosti centralnih nasprotnih strank in registrov s sedežem v tretjih državah za trgovinske posle, za katere ni bil opravljen kliring ali niso bili prijavljeni v EU,
notes that all transactions in derivative products denominated in an EU currency, relating to an underlying EU entity and to which an EU financial institution is party should be cleared, when eligible, and reported in clearing houses and repositories located, authorized and supervised in the EU which are covered by European laws and data protection; notes that the upcoming new regulation should set clear criteria for assessing the equivalence of CCPs and repositories located in third countries for those trades not cleared or not reported in the EU,
pozdravlja pobudo Komisije o boljši regulaciji izvedenih finančnih instrumentov in zlasti izvedenih finančnih instrumentov OTC, da se zmanjša učinek tveganj na prostih trgih izvedenih finančnih instrumentov na stabilnost finančnih trgov kot celote, ter podpira zahteve po pravni standardizaciji pogodb na izvedene finančne instrumente (tudi z regulativnimi pobudami v direktivi o kapitalskih zahtevah glede operativnega tveganja), uporabi registrov trgovanja in centraliziranega shranjevanja podatkov, krepitvi centralnih klirinških družb in večji uporabi organiziranih mest trgovanja;
Welcomes the Commission's initiative for better regulation of derivatives, and in particular OTC derivatives with a view to reducing the impact of the risks in the OTC derivatives markets for the stability of financial markets as a whole, and backs the calls for legal standardisation of derivatives contracts (inter alia through regulatory incentives in the Capital Requirements Directive (CRD) regarding operational risk), the use of trade repositories and centralised data storage, the use and strengthening of central clearing houses and the use of organised trading venues;
pozdravlja nedavno delo foruma regulativnih organov OTC v odziv na poziv skupine G20 k nadaljnjim ukrepom za povečanje preglednosti in trdnosti prostih trgov izvedenih finančnih instrumentov;
Welcomes the recent work of the OTC Regulators Forum (ORF) in response to the call from the G20 for further action to increase the transparency and robustness of the OTC derivatives markets;
poziva k večji preglednosti transakcij pred trgovanjem za vse instrumente, ki izpolnjujejo pogoje za široko uporabo organiziranih mest trgovanja, ter k povečani preglednosti po trgovanju, tako da se v korist regulativnih organov in vlagateljev registrom poroča o vseh transakcijah;
Calls for more transparency on pre-trade transactions for all instruments that qualify for the extensive use of organised trading venues as well as for increased post-trade trade transparency through reporting of all transactions to repositories, to the benefit of both regulators and investors;
podpira zahtevo, da se za vse izvedene finančne instrumente, ki so primerni za kliring, uvede kliring med finančnimi institucijami prek centralne nasprotne stranke, da bi izboljšali ocenjevanje kreditnega tveganja nasprotnih strank, in podpira cilj, da se s čim več primernimi izvedenimi finančnimi instrumenti trguje na organiziranih trgih; poziva k zagotavljanju spodbud za trgovanje z izvedenimi finančnimi instrumenti, ki so primerni za kliring, na mestih trgovanja, ki jih ureja MiFID, tj. na reguliranih trgih in v večstranskih sistemih trgovanja (MTF); ugotavlja, da mora biti likvidnost eno od meril primernosti za kliring;
Backs the call for the compulsory introduction of CCP clearing between financial institutions for all eligible derivative products with a view to ensuring better assessment of counterparty credit risk, and supports the objective that as many eligible derivative products as possible should be traded on organised markets; calls for provision of incentives that encourage the trading of eligible derivative products on trading venues regulated by MiFID, i.e. on regulated markets and multilateral trading facilities (MTFs); notes that one criterion for clearing eligibility must be liquidity;
zahteva, da se mora v prihodnosti tveganje bolje odražati v cenah izvedenih finančnih instrumentov in da morajo stroške prihodnje infrastrukture trga nositi udeleženci na trgu in ne davkoplačevalci;
Insists that, in future, derivative prices must better reflect risk and that the costs of the future market infrastructure must be borne by market participants and not by taxpayers;
meni, da so za zavarovanje pred posebnimi tveganji potrebni individualno dogovorjeni izvedeni finančni instrumenti, zato nasprotuje obvezni standardizaciji vseh izvedenih finančnih instrumentov;
Considers that individually negotiated derivatives are required to hedge special risks and therefore opposes the compulsory standardisation of all derivatives;
poziva Komisijo, naj za številne razpoložljive vrste izvedenih finančnih instrumentov uporabi različne pristope, ob upoštevanju različnih profilov tveganj, obsega uporabe za namene legitimnega zavarovanja in njihove vloge v finančni krizi;
Calls on the Commission to use a differentiated approach to the many types of derivative products available, taking account of differing risk profiles, the extent of usage for legitimate hedging purposes, and their role in the financial crisis;
ugotavlja, da je treba v okviru regulacije razlikovati med izvedenimi finančnimi instrumenti, ki se uporabljajo kot orodje za zavarovanje resničnih tveganj, ki jim je izpostavljen uporabnik, in izvedenimi finančnimi instrumenti za izključno špekulativne namene, ter meni, da je razlikovanje oteženo zaradi pomanjkanja informacij in konkretnih podatkov o transakcijah na prostem trgu;
Notes that, as regards regulation, a distinction must be made between derivatives used as a risk management tool for hedging a real underlying risk to which the user is exposed and derivatives used solely for speculation and believes that the making of this distinction is hampered by a shortage of information and specific figures regarding OTC transactions;
poziva Komisijo, naj preuči načine za občutno zmanjšanje skupnega obsega izvedenih finančnih instrumentov, tako da bo obseg sorazmeren z osnovnimi vrednostnimi papirji, da bi preprečili izkrivljanje cenovnih signalov ter zmanjšali tveganje za neokrnjenost trga in sistemska tveganja;
Calls on the Commission to look into ways of significantly reducing the overall volume of derivatives so that the volume is proportionate to the underlying securities in order to avoid a distortion of price signals, to reduce the risk to market integrity and to cut down systemic risk;
meni, da je treba posebno pozornost nameniti izvedenim finančnim instrumentom podjetij, pri katerih je nasprotna stranka finančna institucija, da se prepreči zloraba takih pogodb kot instrumentov finančnega trga, namesto njihove uporabe kot instrumentov poslovnega tveganja;
Considers it important to pay particular attention to corporate derivatives to which a financial institution is a counterparty in order to avoid abusing such contracts not as corporate risk but as financial market instruments;
poziva h krepitvi upravljanja tveganj in preglednosti kot pomembnih orodij za večjo varnost na finančnih trgih, ob tem pa se ne sme zanemariti individualna odgovornost za prevzem tveganja;
Calls for risk management and transparency to be strengthened, as the key instruments for greater financial market certainty, without neglecting individual responsibility for taking on risk;
ugotavlja, da so za tveganja, specifična za podjetje, potrebni izvedeni finančni instrumenti po meri, ki lahko delujejo kot učinkoviti instrumenti upravljanja tveganj, ki so prilagojeni posameznim potrebam;
Notes that company-specific risks require tailor-made derivatives that can act as efficient risk management instruments adapted to individual needs;
poziva Komisijo, naj v okviru prihodnje zakonodaje na področju centralnega kliringa izboljša standarde upravljanja tveganj z dvostranskim kliringom;
Calls on the Commission to enhance bilateral risk management standards as part of the forthcoming legislation on central clearing;
meni, da je mogoče s pomočjo kliringa, zavarovanja s prilagoditvijo kapitalskih zahtev in drugih regulativnih orodij zmanjšati kreditno tveganje nasprotnih strank; podpira namen Komisije, da predlaga višje kapitalske zahteve za finančne institucije pri dvostranskih pogodbah na izvedene finančne instrumente, ki niso primerne za centralni kliring, na podlagi pristopa, ki je sorazmeren s tveganji, in ob upoštevanju učinkov pobota, zavarovanj, začetnega kritja, dnevnega usklajevanja portfeljev, dnevnega izračuna zahtev glede kritja, samodejnega gibanja vrednosti zavarovanj ter drugih tehnik upravljanja tveganj nasprotnih strank v dvostranskih odnosih pri zmanjševanju tveganj nasprotnih strank;
Is of the opinion that, through clearing, collateral by adjusting capital requirements and through other regulatory tools counterparty credit risk can be reduced; supports the Commission in proposing higher capital requirements for financial institutions in the case of bilateral derivative contracts that are ineligible for central clearing, based on a risk-proportionate approach and taking into account the effects of netting, collateral, initial margin, daily portfolio reconciliations, daily margining, automated collateral movements and other bilateral counterparty risk management techniques in counterparty risk reduction;
poziva, naj se za izvedene finančne instrumente, ki ne izpolnjujejo zahtev mednarodnega standarda računovodskega poročanja št. 39 (IFRS 39) in jih zato revizor ni ocenil, zahteva centralni kliring prek centralne nasprotne stranke, ko presežejo prag, ki ga določi Komisija; nadalje poziva, naj se za jasnejše ločevanje preveri, ali bi lahko nefinančna institucija tudi v bodoče sklepala dvostranske pogodbe ob predložitvi neodvisne ocene pogodbe na izvedene finančne instrumente OTC s strani revizorja;
Calls for derivatives that do not meet the requirements of IFRS 39 and were therefore not assessed by an auditor to be subject to central clearing by a CCP once they exceed a threshold to be determined by the Commission; calls, furthermore, for the purposes of ensuring a clearer distinction, for checks to be carried out involving the submission of an independent assessment of OTC derivative contracts by an auditor in order to ascertain whether a non-financial institution can continue to conclude bilateral contracts;
poziva Komisijo, naj Evropskemu organu za vrednostne papirje in trge (ESMA) zagotovi pomembno vlogo pri pooblaščanju klirinških hiš iz Evropske unije, in meni, da je koristno, da jih nadzoruje ta isti organ, med drugim zaradi združevanja strokovnega znanja na področju nadzora v enem organu in zaradi čezmejnega tveganja, povezanega s centralno nasprotno stranko;
Calls on the Commission to give a strong role in the authorisation of European clearing houses to the European Securities and Markets Authority (ESMA) and considers it useful that they are supervised by this same Authority because, inter alia, there would be pooling of supervisory expertise in one body and because risk associated with a CCP will be cross-border;
meni, da dostop centralnih nasprotnih strank do denarja centralne banke učinkovito prispeva k varnosti in neokrnjenosti kliringa;
Believes that the access of CCPs to central bank money effectively contributes to safety and integrity of clearing;
zahteva, da bremena centralnih nasprotnih strank ne nosijo v celoti uporabniki in da si njihovi sistemi upravljanja tveganj ne smejo medsebojno konkurirati ter da je treba predvideti regulativna pravila za stroške kliringa; poziva Komisijo, naj ta vprašanja reši v zakonodajnem predlogu in za klirinške hiše določi pravila o upravljanju in lastništvu, tudi ob upoštevanju neodvisnosti direktorjev, članstva in natančnega nadzora regulativnih organov;
Insists that CCPs must not be organised wholly by users, that their risk management systems must not be in competition with each other, and that regulatory arrangements for clearing costs must be envisaged; calls on the Commission to address these concerns in its legislative proposal and to set governance and ownership rules for clearing houses, with regard inter alia to the independence of directors, membership and close supervision by regulators;
ugotavlja, da bodo skupni tehnični standardi glede zadev, kot sta izračun kritja in protokoli za izmenjavo informacij, predstavljali pomemben del zagotavljanja poštenega in nediskriminatornega dostopa mest trgovanja do centralnih nasprotnih strank; nadalje ugotavlja, da mora biti Komisija pozorna na morebitni razvoj tehnoloških razlik, diskriminatornih praks in ovir za nemoteno delo, ki so škodljivi za konkurenco;
Notes that common technical standards relating to issues such as margin calculation and information exchange protocols will form an important part of ensuring fair and non-discriminatory access by authorised trading venues to CCPs; further notes that the Commission must pay close attention to the possible development of technological differences, discriminatory practices and work-flow barriers which are harmful to competition;
poziva k izvajanju pravil o poslovanju in dostopu, ki urejajo centralne nasprotne stranke, de se zagotovi nediskriminatorni dostop mest trgovanja, obravnavana vprašanja pa morajo vključevati tudi diskriminatorne načine oblikovanja cen;
Calls for conduct-of-business and access rules governing CCPs to ensure non-discriminatory access by trading venues, with the issues to be addressed including discriminatory pricing practices;
podpira uvedbo registrov za vse pozicije v izvedenih finančnih instrumentih, najbolje ob upoštevanju razlikovanja med razredi finančnih instrumentov, ki se regulirajo in nadzorujejo pod vodstvom Evropskega organa za vrednostne papirje in trge; poziva, naj se uvedejo zavezujoča postopkovna pravila za preprečevanje izkrivljanja konkurence, zagotovi enotna razlaga v državah članicah in naj ima Evropski organ za vrednostne papirje in trge največja pooblastila pri odločanju v sporih; poziva Komisijo, naj nacionalnim nadzornim organom zagotovi dostop v realnem času do posamičnih podatkov v registrih, povezanih z udeleženci na trgu s sedežem na območju pod njihovo pristojnostjo, in do podatkov, povezanih z morebitnim sistemskim tveganjem, ki se lahko pojavi na območju pod njihovo pristojnostjo, ter do podatkov v zbirni obliki iz vseh registrov, vključno s podatki v registrih v tretjih državah; ugotavlja, da bi morale biti cene storitev registrov oblikovane pregledno, glede na njihovo javno-storitveno funkcijo;
Backs the introduction of repositories for all derivatives positions, ideally distinguished by asset class and regulated and supervised under ESMA direction; calls for binding procedural rules to be established to prevent distortions of competition and to ensure equal interpretation in the Member States and, furthermore, for ESMA to have supreme decision-making authority in disputes; calls for the Commission to ensure that national supervisory authorities have real-time access to granular data in repositories that relate to market participants based within their jurisdiction and to data that relate to potential systemic risk that might be built up in their jurisdiction, as well as access to aggregate data from all repositories including those held in repositories based in third countries; notes that the service provided by repositories should be priced transparently in light of their utility-like function;
poziva Komisijo, naj pripravi standarde poročanja za vse izvedene finančne instrumente, ki so skladni s standardi, pripravljenimi na mednarodni ravni, in zagotovi, da so ti podatki posredovani centralnim registrom trgovanja, centralnim nasprotnim strankam in finančnim institucijam ter dostopni Evropskemu organu za vrednostne papirje in trge ter nacionalnim regulativnim organom in Evropskemu odboru za sistemska tveganja, če je to potrebno;
Calls on the Commission to draw up reporting standards for all derivative products consistent with standards being elaborated at an international level, to ensure that they are communicated to central trade repositories, CCPs, exchanges and financial institutions, and to make the data accessible to the ESMA and national regulatory authorities and the ESRB when required;
poziva Komisijo, naj razvije ukrepe, ki bodo regulatorjem omogočali, da določajo omejitve pozicij in tako preprečujejo nesorazmerno gibanje cen in nastanek špekulativnih mehurčkov;
Calls on the Commission to develop measures to ensure that regulators are able to set position limits to counter disproportionate price movements and speculative bubbles;
poziva Komisijo, naj zlasti zagotovi neodvisno in pregledno vrednotenje vseh izvedenih finančnih instrumentov, s katerimi se ne trguje na borzi, pri katerem ne bo prihajalo do navzkrižja interesov;
Asks the Commission to ensure in particular that the valuation of all derivatives that are not traded on exchange is conducted in an independent and transparent way, avoiding conflicts of interest;
meni, da je treba v tesnem sodelovanju z nacionalnimi regulativnimi organi natančno pojasniti vse tehnične podrobnosti, zlasti glede standardov in razlikovanja med proizvodi finančnih trgov in proizvodi nefinančnih trgov, ter pozdravlja dejstvo, da se je Komisija tega vprašanja že lotila; poziva Komisijo, naj Svet in Parlament vključi že na začetni stopnji;
Considers careful clarification of all technical details to be necessary, in close cooperation with national regulators, in particular as regards standards and the distinction between financial-market products and non-financial-market products, and welcomes the fact that the Commission has already addressed this issue; calls on the Commission to involve the Council and Parliament at an early stage;
podpira Komisijo pri njenih prizadevanjih za vzpostavitev centralnih nasprotnih strank v skladu s standardi, dogovorjenimi na evropski ravni, pod nadzorom Evropskega organa za vrednostne papirje in trge; zahteva, da pomembni udeleženci na trgu ne bi smeli imeti obvladujočega vpliva na in obvladovanje tveganj centralnih nasprotnih strank, ampak bi morali sodelovati v odboru za obvladovanje tveganj; poleg tega meni, da je treba predlagati mehanizme za koristno prispevanje k obvladovanju tveganj;
Backs the Commission in its plan to establish CCPs under agreed European standards, overseen by ESMA; and demands that key market participants should not have a controlling influence on the governance and risk management of the CCPs but should be included in the risk management board; takes the view that, additionally, mechanisms to make useful contributions to the risk management process should be proposed;
vztraja, da so potrebni regulativni standardi za zagotavljanje odpornosti centralnih nasprotnih strank za širši nabor tveganj, tudi za sočasni neuspeh več udeležencev, nenadno prodajo finančnih sredstev in hitro zmanjšanje likvidnosti trga;
Insists on the need to have regulatory standards to ensure that CCPs remain resilient to a broader set of risks, including multiple participant failures, sudden sales of financial resources and rapid reduction in market liquidity;
meni, da je treba razrede izvedenih finančnih instrumentov, zasnovo centralnih nasprotnih strank, register za preglednost, kapitalske zahteve, vzpostavitev neodvisnih mest trgovanja ali uporabo obstoječih borz, izvzetja za mala in srednja podjetja in vse tehnične podrobnosti opredeliti v tesnem sodelovanju med nacionalnimi regulativnimi organi, mednarodnimi institucijami in prihodnjim evropskim nadzornim organom ESMA;
Believes that the definition of derivative categories, the creation of CCPs, the transparency register, capital charges, the setting up of independent trading venues or use of existing exchanges, exemptions for SMEs and all technical details should be decided in close cooperation with national regulators, international institutions and the future European supervisory authority, the ESMA;
zato poziva k jasnim pravilom ravnanja in potrebnim obveznim standardom za zasnovo centralnih nasprotnih strank (vključevanje uporabnikov) ter postopke odločanja in sisteme upravljanja tveganj, ki jih uporabljajo; podpira namen Komisije, da predlaga uredbo o klirinških hišah;
Calls, therefore, for clear rules of conduct and the necessary compulsory standards as regards the setting-up of CCPs (involvement of users) and the decision-making procedures and risk management systems used by them; supports the Commission in its intention to propose a regulation governing clearing houses;
podpira namen Komisije, da določi izjeme in nižje kapitalske zahteve za dvostranske izvedene finančne instrumente malih in srednjih podjetij, če izvedeni finančni instrumenti ne predstavljajo pomembne postavke v bilanci stanja teh podjetij in da pozicija izvedenega finančnega instrumenta ne ustvarja sistemskega tveganja;
Backs the Commission in its intention to provide exemptions and lower capital requirements for SMEs’ bilateral derivatives if an underlying risk is being hedged, derivatives are non-significant in the balance sheet of the SME and the derived position does not create systemic risks.;