natgillin/translations-raw huggingface dataset:
Bids exceeding this amount must be expressed as multiples of €100,000.
Protiponudbe, ki ta znesek presegajo, morajo biti izražene kot mnogokratnik 100.000 EUR.
The same minimum bid and multiple amounts are applied in fine-tuning and structural operations. The minimum bid amount is applied to each individual interest rate/price/swap point level.
Isti najnižji znesek protiponudbe in mnogokratnik veljata tudi za operacije finega uravnavanja in strukturne operacije.
Bids exceeding the defined minimum bid amount must be expressed as multiples of €10,000. The minimum bid amount is applied to each individual interest rate level.
Najnižji znesek protiponudbe se uporablja pri vsaki posamezni licitirani višini obrestne mere/cene/swap točk.
In a quick tender which is not announced publicly in advance, the selected counterparties are contacted directly by the national central banks.
Pri hitri avkciji, ki ni javno najavljena vnaprej, nacionalne centralne banke neposredno stopijo v stik z izbranimi nasprotnimi strankami.
In a quick tender, which is announced publicly, the national central bank may contact the selected counterparties directly.
Pri hitri avkciji, ki je javno najavljena, pa imajo nacionalne centralne banke možnost, da neposredno stopijo v stik z izbranimi nasprotnimi strankami.
The ECB may impose a maximum bid limit in order to prevent disproportionately large bids.
Protiponudbe, ki presegajo najnižji določeni znesek protiponudbe, morajo biti izražene kot mnogokratnik 10.000 EUR.
Any such maximum bid limit is always specified in the public tender announcement message.
Najnižji znesek protiponudbe se uporablja pri vsaki posamezni višini licitirane obrestne mere.
5.1.4 PREPARATION AND SUBMISSION OF BIDS BY COUNTERPARTIES
5.1.4 PRIPRAVA IN POSREDOVANJE PROTIPONUDB S STRANI NASPROTNIH STRANK
Counterparties are expected always to be in a position to cover the amounts allotted to them with a sufficient amount of eligible underlying assets.8 The contractual or regulatory arrangements applied by the respective national central bank allow the imposition of penalties if a counterparty is unable to transfer a sufficient amount of underlying assets or cash to settle the amount it has been allotted in a tender operation.
Od nasprotnih strank se pričakuje, da imajo za denarni znesek, ki jim je bil dodeljen, vedno na razpolago zadostno višino primernega finančnega premoženja. 8 Pogodbene ali zakonske ureditve, ki jih uporablja zadevna nacionalna centralna banka, dovoljujejo naložiti kazen, če nasprotna stranka ni sposobna zagotoviti zadostnega zneska
In fixed rate tenders, counterparties must state in their bids the amount of money that they are willing to transact with the national central banks.5
Pri avkcijah s fiksno mero morajo nasprotne stranke v svojih protiponudbah navesti denarni znesek, v višini katerega so pripravljene skleniti posel z nacionalnimi centralnimi bankami. 5
Procedures the ratio of the amount to be allotted to the aggregate amount bid (see Box 4).
skupnim zneskom protiponudb (glej okvir 4).
Respect of the deadline is judged by the national central banks.
O upoštevanju roka presojajo nacionalne centralne banke.
The national central banks also discard any bid which is below the minimum bid amount or which is below any minimum or above any maximum accepted interest rate/price/swap point.
Nacionalne centralne banke prav tako zavržejo vsako protiponudbo, ki je pod spodnjim zneskom protiponudbe ali ki je pod ali nad izklicno obrestno mero/ceno/swap točkami.
5.1.5 TENDER ALLOTMENT PROCEDURES
5.1.5 POSTOPKI ZA DODELITEV NA AVKCIJAH
VARIABLE RATE TENDERS IN EUROIn the allotment of liquidity-providing variable rate tenders in euro, bids are listed in descending order of offered interest rates.
AVKCIJE V EURIH Z VARIABILNO OBRESTNO MERO Pri avkcijah v eurih z variabilno obrestno mero, na katerih Eurosistem povečuje likvidnost, se protiponudbe razvrstijo po padajočem vrstnem redu glede na licitirano obrestno mero.
In the allotment of liquidityabsorbing variable rate tenders (which may be used for the issuance
Pri avkcijah z variabilno obrestno mero, na katerih Eurosistem umika likvidnost (takšne avkcije se lahko uporabljajo za izdajo dolžniških certifikatov in zbiranje vezanih vlog), se protiponudbe razvrstijo po naraščajočem
FIXED RATE TENDER OPERATIONSIn the allotment of a fixed rate tender, the bids received from counterparties are added together.
AVKCIJE S FIKSNO MEROPri avkciji s fiksno mero se protiponudbe, ki so jih podale nasprotne stranke, seštejejo.
If the aggregate amount bid exceeds the total amount of liquidity to be allotted, the submitted bids will be satisfied pro rata, according to
Če skupni znesek protiponudb presega znesek za dodelitev, se predložene protiponudbe dodelijo sorazmerno glede na razmerje med zneskom za dodelitev in
ALLOTMENT OF FIXED RATE TENDERS
DODELITEV NA AVKCIJAH S FIKSNO MERO
The percentage of allotment is: all% = n
Odstotek dodelitve je: dod % = n
The amount allotted to the ith counterparty is: all
Znesek dodelitve i-ti nasprotni stranki je: dod(r
) i i where:A n a i all%
) m i m i kjer je:A n
= total amount allotted= total number of counterparties= bid amount of the ith counterparty= percentage of allotment= total amount allotted to the ith counterparty alli
= skupni dodeljeni znesek= skupno število nasprotnih strank= ponujeni znesek i-te nasprotne stranke a i dod% = odstotek dodelitve
ALLOTMENT OF VARIABLE RATE TENDERS IN EURO(the example refers to bids quoted in the form of interest rates)
DODELITEV NA AVKCIJAH V EURIH Z VARIABILNO OBRESTNO MERO (primer se nanaša na avkcije, kjer se licitira obrestna mera)
The percentage of allotment at the marginal interest rate is: m−1
Odstotek dodelitve pri mejni obrestni meri je: m−1
The allotment to the ith counterparty at the marginal interest rate is: all ( r
Znesek dodelitve i-ti nasprotni stranki pri mejni obrestni meri je: dod(r
The total amount allotted to the ith counterparty is: m−1
Skupni znesek, dodeljen i-ti nasprotni stranki, je: m−1
∑ alli s i m i s=1 where:A r s
)i m i s=1 kjer je:A r s
= total amount allotted= sth interest rate bid by the counterparties= total number of counterparties n a(r
= skupni dodeljeni znesek= sta obrestna mera, ki jo licitirajo nasprotne stranke= skupno število nasprotnih strank n a(r
= amount bid at the sth interest rate (r
= ponujeni znesek pri s-ti obrestni meri (r
) by the ith counterparty s i s a(r
) s strani i-te nasprotne stranke s i s a(r
= total amount bid at the sth interest rate (r
= skupni znesek protiponudb pri s-ti obrestni meri (r
= interest rate before the marginal interest rate (last interest rate at which bids are rm−1 completely satisfied): ed): r
= obrestna mera pred mejno obrestno mero (zadnja obrestna mera, pri kateri se protiponudbe v rm−1 celotisprejmejo): sprejmejo): r
> r m−1 m for a liquidity-providing tender for a liquidityabsorbing tender r > r m m−1 all% ( r )
> r m−1 m pri avkciji za povečevanje likvidnostipri avkciji za umikanje likvidnosti r > r m m−1 dod% ( r ) = odstotek dodelitve pri mejni obrestni meri m dod(r
= allotment to the ith counterparty at the sth interest rate= total amount allotted to the ith counterparty alli of debt certificates and the collection of fixed-term deposits), bids are listed in ascending order of offered interest rates (or descending order of offered prices).
= dodelitev i-ti nasprotni stranki pri s-ti obrestni meri= skupni znesek, dodeljen i-ti nasprotni stranki dodi vrstnem redu licitiranih obrestnih mer (ali v padajočem vrstnem redu licitiranih cen).
For other liquidityabsorbing
Pri drugih operacijah umikanja
Procedures operations, the amount allotted to each counterparty is rounded to the nearest euro.
Postopki likvidnosti se znesek, dodeljen vsaki nasprotni stranki, zaokroži na najbližji euro.
VARIABLE RATE FOREIGN EXCHANGE SWAP TENDERSIn the allotment of liquidity-providing variable rate foreign exchange swap tenders, bids are listed in ascending order of swap point quotations.9 The bids with the lowest swap point quotations are satisfied first and subsequently successively higher swap point quotations are accepted until the total amount of the fixed currency to be allotted is exhausted.
AVKCIJE VALUTNIH ZAMENJAV Z VARIABILNO SWAP MEROPri dodelitvi na avkcijah valutnih zamenjav z variabilno swap mero, na katerih Eurosistem povečuje likvidnost, se protiponudbe razvrstijo po naraščajočem vrstnem redu glede na licitirane swap točke.
If, at the highest swap point quotation accepted (i.e. the
9 Najprej se sprejmejo protiponudbe z najnižjimi kotacijami swap točk, nato pa se sprejemajo protiponudbe z vedno višjimi kotacijami swap točk, in sicer dokler se ne izčrpa celoten znesek za dodelitev v osnovni
ALLOTMENT OF VARIABLE RATE FOREIGN EXCHANGE SWAP TENDERS
DODELITEV NA AVKCIJAH VALUTNIH ZAMENJAV Z VARIABILNO SWAP MERO
The percentage of allotment at the marginal swap point quotation is: m−1
Odstotek dodelitve pri mejni kotaciji swap točk je: m−1
The allotment to the ith counterparty at the marginal swap point quotation is: all (Δ
Znesek dodelitve i-ti nasprotni stranki pri mejni kotaciji swap točk je: dod (
The total amount allotted to the ith counterparty is: m-1 a(Δ
Skupni znesek, dodeljen i-ti nasprotni stranki, je: m-1
∑ s m i i s=1 where:A
∑ s=1 kjer je:A
= total number of counterparties= amount bid at the sth swap point quotation (Δ
= skupni dodeljeni znesek= sta kotacija swap točk, ki jo licitirajo nasprotne stranke= skupno število nasprotnih strank n a(Δ
) by the ith counterparty s i s a(Δ a(Δ
) s strani i-te nasprotne stranke s i s a(Δ
Box 6 (continued)
Okvir 6 (nadaljevanje)
= swap point quotation before the marginal swap point quotation (last swap point quotation at which bids are completely satisfied), ed),
= kotacija swap točk pred mejno kotacijo swap točk (zadnja kotacija swap točk, pri kateri se protiponudbe v celoti sprejmejo),
> Δ for a liquidity-providing foreign exchange swap m m-1 Δ Δ
> Δ m m-1 Δ Δ pri valutni zamenjavi za povečevanje likvidnosti pri valutni zamenjavi za umikanje likvidnosti
= percentage of allotment at the marginal swap point quotation m all (Δ
> Δ m-1 m dod% ( Δ = odstotek dodelitve pri mejni kotaciji swap točk m) dod ( Δ
= allotment to the ith counterparty at the sth swap point quotation= total amount allotted to the ith counterparty alli without access to wire services.
= dodelitev i-ti nasprotni stranki pri s-ti kotaciji swap točke= skupni znesek, dodeljen i-ti nasprotni stranki dodi dodelitve neposredno obvestijo nasprotne stranke, ki nimajo dostopa do elektronskih medijev.
• number of the tender the reference operation;
• sklicna številka avkcije;
• the type of operation;
• vrsta operacije;
• the total amount bid by Eurosystem counterparties;
• število ponudnikov;
In the allotment of liquidityabsorbing variable rate foreign exchange swap tenders, bids are listed in descending order of offered swap point quotations.
Pri dodelitvi na avkcijah valutnih zamenjav z variabilno swap mero, na katerih Eurosistem umika likvidnost, se protiponudbe razvrstijo po padajočem vrstnem redu licitiranih kotacij swap točk.
The bids with the highest swap point quotations are satisfied first and subsequently successively lower swap point quotations are accepted until the total amount of the fixed currency to be absorbed is exhausted.
Ponudbe z najvišjimi kotacijami swap točk se sprejmejo najprej, medtem ko se naslednje nižje kotacije swap točk sprejemajo, dokler se ne izčrpa celoten znesek v osnovni valuti.
• the currencies involved (in the case of foreign exchange swaps);
• valute, uporabljene v operaciji (pri valutnih zamenjavah);
• the percentage of allotment (in the case of fixed rate tenders);
• odstotek dodelitve (pri avkcijah s fiksno mero);
• the spot exchange rate (in the case of foreign exchange swaps);
• promptnideviznitečaj(privalutnih zamenjavah);
TYPE OF AUCTIONFor variable rate tenders, the Eurosystem may apply either single rate or multiple rate auction procedures.
VRSTA AVKCIJEPri avkcijah z variabilno mero lahko Eurosistem uporabi postopek za avkcije nizozemskega ali ameriškega tipa.
In a multiple rate auction (American auction), the allotment interest rate/price/swap point is equal to the interest rate/price/swap point offered for each individual bid.
Pri avkciji ameriškega tipa je dodelitvena obrestna mera/cena/swap točke enaka obrestni meri/ceni/swap točkam, ponujenim za vsako posamezno protiponudbo.
5.1.6 ANNOUNCEMENT OF TENDER RESULTS the marginal interest rate/price/swap point accepted and the percentage of allotment at the marginal interest rate/price/swap point (in the case of variable rate tenders);
mejna obrestna mera/cena/swap točke in odstotek dodelitve pri mejni obrestni meri/ceni/swap točkah (pri avkcijah z variabilno mero);
In addition, national central banks may announce the allotment result directly to counterparties the minimum bid rate, maximum bid rate and weighted average allotment rate (in the case of multiple rate auctions);
Poleg tega lahko nacionalne centralne banke o rezultatih najnižja licitirana obrestna mera/cena/swap točke, najvišja licitirana obrestna mera/cena/swap točke in tehtana povprečna obrestna
Procedures the start date and maturity date of the operation (if applicable) or the value date and maturity date of the instrument (in the case of the issuance of debt certificates); cates);
mera/cena/swap točke dodelitve (pri avkcijah ameriškega tipa);
• the minimum individual allotment amount (if any);
• datum začetka in datum zapadlosti operacije (če je predvideno) ali datum poravnave in datum zapadlosti instrumenta (pri izdaji dolžniških certifikatov); katov);
• the minimum allotment ratio (if any);
• minimalni posamezni znesek dodelitve (če je predvideno);
• the denomination of the certificates (in the case of the issuance of debt certificates); and
• minimalniodstotekdodelitve(čeje predvideno);
• the ISIN code of the issue (in the case of the issuance of debt certificates). cates).
• nominalna vrednost certifikatov (pri izdaji dolžniških certifikatov); katov);
If the Governing Council of the ECB were to decide that, under exceptional circumstances, bilateral operations could also be executed by the ECB itself (or by one or a few national central banks acting as the operating arm of the ECB), the procedures for such operations would be adapted accordingly.
Če bi Svet ECB odločil, da lahko v izrednih okoliščinah dvostranske operacije izvaja tudi sama ECB (oz. ena ali nekaj nacionalnih centralnih bank, ki bi delovale kot operativna enota ECB), bi se postopki za tovrstne operacije ustrezno prilagodili.
In this case, the ECB (or the national central bank(s) acting as the operating arm of the ECB) would directly contact one or a few counterparties in the euro area, selected according to the criteria specified in Section 2.2.
V tem primeru bi ECB (ali nacionalna(e) centralna(e) banka(e) v vlogi operativne enote ECB) neposredno stopila v stik z eno ali nekaj nasprotnimi strankami v euroobmočju, izbranimi v skladu z merili iz poglavja 2.2.
The ECB (or the national central bank(s) acting as the operating arm of the ECB) would decide whether to enter into a deal with the counterparties.
ECB (ali nacionalna(e) centralna(e) banka(e) v vlogi operativne enote ECB) bi se odločila, ali bo sklenila posel z nasprotnimi strankami.Transakcijebisekljubtemu poravnale decentralizirano prek nacionalnih centralnih bank.
The transactions would nevertheless be settled in a decentralised manner through the national central banks.
Nacionalne centralne banke obvestijo uspešne ponudnike o rezultatih dodelitve neposredno.
The national central banks will directly certify the individual allotment result to successful counterparties.
Dvostranske operacije prek neposrednega stika z nasprotnimi strankami se lahko uporabijo za povratne transakcije, dokončne transakcije, valutne zamenjave in zbiranje vezanih vlog.
5.2 PROCEDURES FOR BILATERAL OPERATIONS
5.2 POSTOPKI ZA DVOSTRANSKE OPERACIJE
GENERAL CONSIDERATIONSThe national central banks may execute operations on the basis of bilateral procedures.10
Ti postopki se lahko uporabljajo za operacije f i finega uravnavanja na odprtem trgu in strukturne
OPERATIONS EXECUTED THROUGH STOCK EXCHANGES AND MARKET AGENTSThe national central banks can execute outright transactions through stock exchanges and market agents.
OPERACIJE, IZVEDENE PREK BORZ VREDNOSTNIH PAPIRJEV IN TRŽNIH POSREDNIKOVNacionalne centralne banke lahko izvajajo dokončne transakcije prek borz vrednostnih papirjev in tržnih posrednikov.
These procedures may be used for fine-tuning open market operations and structural outright operations.
NAJAVA DVOSTRANSKIH OPERACIJDvostranske operacije se običajno vnaprej javno ne najavijo.
They are defined in a broad sense as any procedures where the Eurosystem conducts a transaction with one or a few counterparties without a tender.
Poleg tega se lahko ECB odloči, da rezultatov dvostranskih operacij ne bo javno objavila.
ANNOUNCEMENT OF BILATERAL OPERATIONSBilateral operations are normally not announced publicly in advance.
dokončne operacije. V širšem smislu so opredeljeni kot katerikoli postopki, v katerih Eurosistem izvede transakcijo z eno ali več nasprotnimi strankami brez uporabe avkcijskega postopka.
In addition, the ECB may decide not to announce the results of bilateral operations publicly.
Tu lahko razlikujemo med dvema različnima vrstama dvostranskih postopkov: operacije, pri katerih Eurosistem neposredno stopi v stik z nasprotnimi strankami, in operacije, ki se izvajajo prek borz vrednostnih papirjev in tržnih posrednikov.
OPERATING DAYSThe ECB may decide to conduct fine-tuning bilateral operations on any Eurosystem business day.
DELOVNI DNEVIECB se lahko odloči, da bo dvostranske operacije finega uravnavanja izvedla na katerikoli delovni dan Eurosistema.
Only national central banks of Member
V teh operacijah sodelujejo samo nacionalne centralne banke držav članic,
10 The Governing Council of the ECB can decide whether, under exceptional circumstances, fine-tuning bilateral operations may also be executed by the ECB itself.
10 Svet ECB lahko odloči, da v izrednih okoliščinah dvostranske operacije finega uravnavanja lahko izvaja tudi sama ECB.
DIRECT CONTACT WITH COUNTERPARTIESIn this procedure, the national central banks directly contact one or a few domestic counterparties, which are selected according to the criteria specified in Section 2.2.
NEPOSREDNI STIK Z NASPROTNIMI STRANKAMIPri tem postopku nacionalne centralne banke neposredno stopijo v stik z eno ali več domačimi nasprotnimi strankami, izbrano(-imi) v skladu z merili iz poglavja 2.2.
According to the precise instructions given by the ECB, the national central banks decide whether to enter into a deal with the counterparties.
V skladu z natančnimi navodili ECB se nacionalne centralne banke odločijo, ali bodo sklenile posel z nasprotnimi
States where the trade day, the settlement day and the reimbursement day are NCB business days participate in such operations.
5.3.2 PORAVNAVA OPERACIJ ODPRTEGA TRGA v katerih so trgovalni dan, dan poravnave in dan izplačila delovni dnevi NCB.
5.3.1 GENERAL CONSIDERATIONS
5.3.1 SPLOŠEN OPIS
Open market operations based on standard tenders (i.e. main refinancing operations, longerterm refinancing operations and structural operations) are normally settled on the first day following the trade day on which (i) TARGET2; and (ii) all relevant SSSs are open.
Operacije odprtega trga na podlagi standardnih avkcij (tj. operacije glavnega refinanciranja, operacije dolgoročnejšega refinanciranja in strukturne operacije) se običajno poravnajo na prvi dan po trgovalnem dnevu, ko so odprti (i) TARGET2 in (ii) vsi ustrezni sistemi poravnave vrednostnih papirjev.
The time of settlement of the main and the longerterm refinancing operations normally coincides with the time of reimbursement of a previous operation of corresponding maturity.
Čas poravnave operacij glavnega in dolgoročnejšega refinanciranja običajno sovpada s časom vračila prejšnje operacije z ustrezno zapadlostjo.
The Eurosystem aims to settle open market operations based on quick tenders and bilateral procedures on the trade day. For operational reasons, however, the Eurosystem may occasionally apply other settlement dates for these operations, in particular for outright transactions and foreign exchange swaps (see Table 3).
Eurosistem si prizadeva operacije odprtega trga na podlagi hitrih avkcij in dvostranskih postopkov poravnati na trgovalni dan, vendar lahko v teh operacijah zaradi operativnih razlogov, zlasti pri dokončnih transakcijah in valutnih zamenjavah, občasno določi druge datume poravnave (glej tabelo 3).
5.3.3 END-OF-DAY PROCEDURES
5.3.3 POSTOPKI OB KONCU DNEVA
Money transactions relating to the use of Eurosystem standing facilities or to participation in open market operations are settled on the counterparties’ accounts with the national central banks or on the accounts of settlement banks participating in TARGET2.
Denarne transakcije, povezane z uporabo odprtih ponudb Eurosistema ali s sodelovanjem v operacijah odprtega trga, se poravnajo prek računov nasprotnih strank pri nacionalnih centralnih bankah ali prek računov poravnalnih bank udeleženk v sistemu TARGET2.
This implies that underlying assets need either to have been predeposited in a safe custody account at the national central banks or to be settled with said national central banks on an intraday delivery-versus-payment basis.
To pomeni, da je treba primerno finančno premoženje bodisi vnaprej deponirati na skrbniškem računu pri nacionalni centralni banki bodisi poravnati na podlagi sistema dostave proti plačilu pri ustrezni nacionalni centralni banki.
The transfer of underlying assets is executed via the counterparties’ securities settlement accounts with SSSs fulfilling the ECB’s minimum standards.11Counterparties without a safe custody account with a national central bank or a securities settlement account with an SSS fulfilling the ECB’s minimum standards may settle the transactions of underlying assets through the securities settlement account or the safe custody account of a correspondent credit institution.
Prenos primernega finančnega premoženja za zavarovanje terjatev se izvrši prek računov za poravnavo poslov z vrednostnimi papirji nasprotnih strank pri sistemih poravnave vrednostnih papirjev (SPVP), ki izpolnjujejo minimalne zahteve ECB. 11 Nasprotne stranke brez skrbniškega računa pri nacionalni centralni banki ali brez računa za poravnavo poslov z vrednostnimi papirji pri SPVP, ki izpolnjuje minimalne zahteve ECB, lahko transakcije s primernim finančnim premoženjem poravnajo prek računa za poravnavo poslov z vrednostnimi papirji ali skrbniškega računa korespondenčne kreditne institucije.
As a general rule, the TARGET2 closing time is 6 p.m. ECB time (CET).
Praviloma je čas zaprtja sistema TARGET2 18.00 ura po času ECB (srednjeevropski čas).
No further payment orders are accepted for processing in TARGET2 after the closing time, although remaining payment orders accepted before the closing time are still processed.
Po času zaprtja se nadaljnji plačilni nalogi za obdelavo v sistemu TARGET2 ne sprejemajo, čeprav se preostali plačilni nalogi, ki so bili sprejeti pred časom zaprtja, še vedno obdelajo.
Counterparties’ requests for access to the marginal lending facility or to the deposit facility must be submitted to the respective national central
Nasprotne stranke morajo zahtevek za dostop do mejnega posojila ali mejnega depozita predložiti ustrezni nacionalni centralni banki najpozneje 15 minut po dejanskem zaprtju sistema TARGET2. Rok za zahtevek za dostop
Table 3 Normal settlement dates for Eurosystem open market operations 1)
Tabela 3 Običajni datumi poravnave za operacije odprtega trga Eurosistema
Settlement date for operations based on standard tenders
Datum poravnave pri hitrih avkcijah ali dvostranskih postopkih
Settlement date for operations based on quick tenders or bilateral procedures
Datum poravnave pri standardnih avkcijah
Issuance of debt certifi c at e s Foreign exchange swaps Collection of fixed-term deposits
Izdaja dolžniških certifi k a to v Valutne zamenjave Zbiranje vezanih vlog
TAccording to market convention for underlying assets-T, T+1 or T+2T
TV skladu s tržnimi običaji na trgu uporabljenega finančnega premoženja -T, T+1 ali T+2T
1) T refers to the trade day.
1) T se nanaša na trgovalni dan.