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Record 1,  Textual support,  English

Record number: 1, Textual support number: 1 OBS

Not to be confused with "foreign exchange forward contract".  3, record 1, English, - foreign%20exchange%20contract

Record 1,  Textual support,  French

Record number: 1, Textual support number: 1 DEF

Contrat portant sur l'achat ou la vente, à un cours convenu, d'une certaine quantité d'une monnaie contre une autre monnaie, avec règlement à une date précise ou au cours d'une période donnée.  2, record 1, French, - contrat%20de%20change

Record number: 1, Textual support number: 1 OBS

Ne pas confondre avec «contrat de change à terme».  3, record 1, French, - contrat%20de%20change

Record 1,  Textual support,  Spanish

Record number: 1, Textual support number: 1 OBS

[contrato de cambio] al contado: compra o venta de divisas con pago inmediato. [contrato de cambio] a plazo: compra o venta de divisas a un cambio determinado, pero con pago diferido hasta una fecha fijada en el contrato.  2, record 1, Spanish, - contrato%20de%20cambio

Record 2,  Textual support,  English

Record number: 2, Textual support number: 1 DEF

The arrangement of a forward foreign exchange contract to protect a buyer or seller of foreign currency from unexpected fluctuations in the exchange rate.  3, record 2, English, - forward%20cover

Record 2,  Textual support,  French

Record number: 2, Textual support number: 1 DEF

Contrat conclu entre une entreprise et sa banque en vertu duquel des devises sont achetées ou vendues par avance, à un cours fixé et à une échéance déterminée, moyennant un report ou un déport variable selon la devise et la durée du contrat.  2, record 2, French, - couverture%20de%20change%20%C3%A0%20terme

Record 2,  Textual support,  Spanish

Record number: 2, Textual support number: 1 DEF

Concertación de un contrato de cambio de divisas a plazos para proteger al comprador o vendedor de divisas de fluctuaciones inesperadas en el tipo de cambio.  1, record 2, Spanish, - cobertura%20a%20plazo

Record 3,  Textual support,  English

Record number: 3, Textual support number: 1 DEF

Forward contracts, traded on an organized exchange, to purchase or sell commodities, foreign exchange or future interest rate streams.  3, record 3, English, - futures%20contract

Record 3,  Textual support,  French

Record number: 3, Textual support number: 1 DEF

Contrat à terme négocié sur un marché organisé, caractérisé par une quantité ou un montant standardisé d'un certain sous-jacent et par une échéance standardisée.  2, record 3, French, - contrat%20%C3%A0%20terme%20standardis%C3%A9

Record number: 3, Textual support number: 1 CONT

Les contrats à terme comprennent les intérêts, devises, actions, matières premières, etc.  4, record 3, French, - contrat%20%C3%A0%20terme%20standardis%C3%A9

Record number: 3, Textual support number: 2 CONT

Le «contrat standardisé», dont les modalités sont fixées par une bourse, se distingue du «contrat de gré à gré», celui-ci étant assorti de conditions sur mesure négociées directement entre les parties au contrat. Dans la majorité des cas, il y a dénouement avant l'échéance, sans qu'il y ait livraison du sous-jacent. Parmi les «contrats à terme standardisés», on distingue les «contrats à terme sur devises, les «contrats à terme sur taux d'intérêt», les «contrats à terme sur indice boursier» et les «contrats à terme sur marchandises».  2, record 3, French, - contrat%20%C3%A0%20terme%20standardis%C3%A9

Record 3,  Textual support,  Spanish

Record number: 3, Textual support number: 1 DEF

Contrato que promete la entrega de una cantidad de mercancía o un instrumento financiero a tasa fija en el futuro.  2, record 3, Spanish, - contrato%20de%20futuros

Record number: 3, Textual support number: 1 CONT

Los contratos de futuros abarcan intereses, divisas, acciones, materias primas, etcétera.  3, record 3, Spanish, - contrato%20de%20futuros

Record number: 3, Textual support number: 1 OBS

contrato de futuros: término extraído del CAPITAL Business Dictionary con la autorización de LID Editorial Empresarial.  4, record 3, Spanish, - contrato%20de%20futuros

Record 4,  Textual support,  English

Record number: 4, Textual support number: 1 DEF

Foreign exchange market where currency is sold for immediate delivery.  4, record 4, English, - spot%20exchange%20market

Record number: 4, Textual support number: 1 CONT

The spot market is for foreign exchange delivered within 2 business days; the forward market is for foreign exchange to be delivered at some specified future date.  5, record 4, English, - spot%20exchange%20market

Record 4,  Textual support,  French

Record 4,  Textual support,  Spanish

Record number: 4, Textual support number: 1 CONT

El mercado de cambios al contado se refiere a las transacciones efectuadas de inmediato: son notas intercambiadas entre instituciones financieras.  1, record 4, Spanish, - mercado%20de%20cambios%20al%20contado

Record 5,  Textual support,  English

Record number: 5, Textual support number: 1 DEF

In the foreign exchange market, it is the margin between two currencies and applicable when the forward rate of one currency is cheaper and the discount is added to the spot rate. [Klein, Gerald. Dictionary of Banking. Pitman Publishing, 1995]  3, record 5, English, - discount

Record 5,  Textual support,  French

Record number: 5, Textual support number: 1 DEF

Différence entre le cours d'une devise sur le marché des changes et le prix de cette devise à terme, quand cette différence est négative. [...] «Il y a déport quand le prix du terme est inférieur au cours du comptant».  4, record 5, French, - d%C3%A9port

Record number: 5, Textual support number: 1 OBS

déport : terme normalisé par l'AFNOR.  5, record 5, French, - d%C3%A9port

Record 5,  Textual support,  Spanish

Record 6,  Textual support,  English

Record number: 6, Textual support number: 1 DEF

A forward foreign exchange contract incorporated into an underlying equity option or equity swap structure which allows the investor to lock in a known foreign exchange flow and eliminate currency risk.  3, record 6, English, - quanto

Record number: 6, Textual support number: 1 CONT

Quantos are often known as correlation products; that is, pricing of the product must incorporate not only the interest differential between the two currencies in question, but also any correlation which may exist between the currency and the underlying index.  3, record 6, English, - quanto

Record number: 6, Textual support number: 1 OBS

Quantos are sometimes known by the more formal name of guaranteed exchange rate contract.  3, record 6, English, - quanto

Record 6,  Textual support,  French

Record number: 6, Textual support number: 1 DEF

Instrument dérivé dont le sous-jacent est libellé dans une monnaie, mais sur lequel les paiements sont effectués en une autre monnaie.  2, record 6, French, - quanto

Record 6,  Textual support,  Spanish

Record 7,  Textual support,  English

Record number: 7, Textual support number: 1 DEF

The right of a seller to deliver the security at some time before maturity, e. g. foreign exchange forward option contract. [Klein, Gerald. Dictionary of Banking. Pitman Publishing, 1995].  1, record 7, English, - seller%27s%20option

Record 7,  Textual support,  French

Record 7,  Textual support,  Spanish

Record 8,  Textual support,  English

Record number: 8, Textual support number: 1 DEF

[A situation] where an investment is made in a foreign currency asset to benefit from a more attractive rate of interest without simultaneously taking out forward exchange cover to protect an investor against the risk of intervening exchange rate changes.  2, record 8, English, - uncovered%20interest%20arbitrage

Record 8,  Textual support,  French

Record 8,  Textual support,  Spanish

Record 9,  Textual support,  English

Record number: 9, Textual support number: 1 OBS

Many of the issues that arose out of the Benchmark Study happen to be encountered through the broker medium. These issues were addressed by representatives of the Interdealer Brokers Association(IDBA) in conjunction with the CCFP [Canadian Committee for Professionalism]. The result was a set of best market practices(attached) for the wholesale brokered foreign exchange market. In addition to guidelines respecting, for example, confidentiality and professional standards, these best practices address the issue of branch to branch spot transactions consummated through a broker and also the setting of spot rates on forward transactions when dealing through a broker.  2, record 9, English, - Interdealer%20Brokers%20Association

Record 9,  Textual support,  French

Record number: 9, Textual support number: 1 OBS

Il se trouve qu'un grand nombre des problèmes décelés par l'enquête repère concernaient les intermédiaires entre courtiers. Ces problèmes ont été examinés par des représentants de l'Interdealer Brokers Association (IDBA), en collaboration avec le CCD [Comité du code de déontologie], et cet examen a donné lieu à l'élaboration d'un ensemble de pratiques exemplaires se rapportant aux opérations de gros effectuées sur le marché des changes par un intermédiaire entre courtiers. En plus de fournir des lignes directrices relatives, par exemple, à la confidentialité et aux normes de professionnalisme, ces pratiques exemplaires abordent la question des opérations au comptant de succursale à succursale exécutées par un intermédiaire entre courtiers, ainsi que la détermination des cours du change au comptant dans les opérations à terme effectuées par un intermédiaire entre courtiers.  2, record 9, French, - Interdealer%20Brokers%20Association

Record 9,  Textual support,  Spanish

Record 10,  Textual support,  English

Record number: 10, Textual support number: 1 DEF

Equal to the nominal or face value. [Klein, Gerald. Dictionary of Banking. Pitman Publishing, 1995].  2, record 10, English, - par

Record number: 10, Textual support number: 1 CONT

Government stocks are redeemable at par, but during the lifetime of that stock, the price could be above or below par. In the foreign exchange market, par is the current spot rate and any forward rate would be at a premium,... [Klein, Gerald. Dictionary of Banking. Pitman Publishing, 1995].  2, record 10, English, - par

Record number: 10, Textual support number: 1 OBS

Used in the expressions "at par", "above par", "below par", "par value", etc.  3, record 10, English, - par

Record number: 10, Textual support number: 1 PHR

Margin above par; margin below par.  2, record 10, English, - par

Record 10,  Textual support,  French

Record number: 10, Textual support number: 1 DEF

Égalité susceptible d'exister entre la valeur nominale d'un titre et son prix de souscription ou d'émission, son prix de remboursement ou son cours.  2, record 10, French, - pair

Record number: 10, Textual support number: 1 PHR

Au pair, au-dessus du pair, au-dessous du pair, valeur au pair.  3, record 10, French, - pair

Record 10,  Textual support,  Spanish

Record 11,  Textual support,  English

Record number: 11, Textual support number: 1 DEF

... in the foreign exchange market it is when the forward rate is the same as the spot rate. [Klein, Gerald. Dictionary of Banking. Pitman Publishing, 1995].  2, record 11, English, - at%20par

Record number: 11, Textual support number: 1 CONT

... if a stock sells on the market for its face value it is at par ...  3, record 11, English, - at%20par

Record number: 11, Textual support number: 2 CONT

The free convertibility of the peso at par with the US $ has boosted confidence and reduced inflation.  3, record 11, English, - at%20par

Record 11,  Textual support,  French

Record number: 11, Textual support number: 1 CONT

Une monnaie ou une action sont dites «au pair» lorsqu'on les achète à leur valeur officielle, c'est-à-dire - pour une action, à sa valeur nominale, - pour une monnaie, à sa parité.  2, record 11, French, - au%20pair

Record number: 11, Textual support number: 2 CONT

La libre convertibilité du peso au pair avec le dollar américain a engendré un regain de confiance et une baisse de l'inflation.  3, record 11, French, - au%20pair

Record number: 11, Textual support number: 1 OBS

Voir «pair».  4, record 11, French, - au%20pair

Record 11,  Textual support,  Spanish

Record number: 11, Textual support number: 1 DEF

Tratándose de monedas o efectos públicos o negociables, igualdad entre su valor nominal y el que tiene en el mercado.  2, record 11, Spanish, - a%20la%20par

Record 12,  Textual support,  English

Record number: 12, Textual support number: 1 CONT

In the case where the premium on foreign exchange is positive, domestic investors can expect that holding an uncovered foreign exchange position will yield a profit over and above what could be obtained by "locking in" the domestic currency value of their foreign currency holdings at the prevailing forward exchange rate.  2, record 12, English, - domestic%20investor

Record 12,  Textual support,  French

Record 12,  Textual support,  Spanish

Record number: 12, Textual support number: 1 DEF

El Estado, las personas naturales nacionales, las personas jurídicas nacionales que no persigan fin de lucro y las empresas nacionales.  2, record 12, Spanish, - inversionista%20nacional

Record number: 12, Textual support number: 1 OBS

Se consideran también como inversionistas nacionales, las personas nacionales extranjeras con residencia interrumpida en el país receptor no inferior a un año, que renuncien ante el organismo nacional competente, el derecho de reexportar el capital y de transferir utilidades al exterior.  2, record 12, Spanish, - inversionista%20nacional

Record 13,  Textual support,  English

Record number: 13, Textual support number: 1 DEF

A currency hedged strategy where, because of the difference in shape of the yield curves of two currencies, the difference in interest rates between these two currencies is not reflected in forward foreign exchange rates, giving arbitrage opportunities under which bonds of equivalent duration in these currencies can be swapped and the currency exposure hedged.  1, record 13, English, - yield%20pickup

Record 13,  Textual support,  French

Record 13,  Textual support,  Spanish

Record 14,  Textual support,  English

Record number: 14, Textual support number: 1 DEF

Spot purchase of foreign exchange and forward resale of the same currency against domestic currency.  1, record 14, English, - outward%20swap

Record 14,  Textual support,  French

Record 14,  Textual support,  Spanish

Record 15,  Textual support,  English

Record number: 15, Textual support number: 1 DEF

Investing dollars in an instrument denominated in a foreign currency and hedging the resulting foreign exchange risk by selling the proceeds of the investment forward for dollars.  2, record 15, English, - covered%20interest%20arbitrage

Record 15,  Textual support,  French

Record 15,  Textual support,  Spanish

Record 16,  Textual support,  English

Record number: 16, Textual support number: 1 CONT

If foreign exchange swaps are executed in a forward/forward basis, amounts outstanding should be reported separately for both legs.  1, record 16, English, - forward%2Fforward%20basis

Record 16,  Textual support,  French

Record number: 16, Textual support number: 1 DEF

Opération de dépôt pour un certain terme qui démarre dans le futur.  2, record 16, French, - terme%20contre%20terme

Record number: 16, Textual support number: 1 CONT

En cas de swap de monnaies terme contre terme, déclarer séparément l'encours de chaque volet.  3, record 16, French, - terme%20contre%20terme

Record 16,  Textual support,  Spanish

Record 17,  Textual support,  English

Record number: 17, Textual support number: 1 CONT

In addition, a non-lapsing amount of $3 billion is requested, which can either be used during the course of the year to manage contingencies, such as unexpected foreign exchange requirements, or can be carried forward into the next fiscal year.  1, record 17, English, - manage%20contingencies

Record 17,  Textual support,  French

Record number: 17, Textual support number: 1 CONT

De plus un montant de $3 milliards est demandé afin de pouvoir être utilisé en cours d'exercice pour faire face aux éventualités telles les besoins de devises imprévus ou être reporté à l'exercice suivant.  1, record 17, French, - faire%20face%20aux%20%C3%A9ventualit%C3%A9s

Record 17,  Textual support,  Spanish

Record 18,  Textual support,  English

Record number: 18, Textual support number: 1 CONT

Thus the total transaction cost for the betting strategy proposed, which involves a purchase or sale of foreign exchange at the forward exchange rate and a subsequent sale or purchase of foreign exchange in the spot market at the time the contract matures, is one half of the forward rate spread plus one half of the pertinent spot rate spread.  2, record 18, English, - forward%20rate%20spread

Record 18,  Textual support,  French

Record number: 18, Textual support number: 1 CONT

Par conséquent, le coût total des transactions pour la stratégie de pari proposée, qui comporte un achat ou une vente de devises au cours du terme et par la suite, à l'échéance du contrat, une vente ou un achat de devises sur le marché du comptant, est égal à la moitié de l'écart entre les cours du terme, plus la moitié de l'écart entre les cours pertinents du comptant.  3, record 18, French, - %C3%A9cart%20entre%20les%20cours%20du%20terme

Record 18,  Textual support,  Spanish

Record 19,  Textual support,  English

Record number: 19, Textual support number: 1 CONT

Thus the total transaction cost for the betting strategy proposed, which involves a purchase or sale of foreign exchange at the forward exchange rate and subsequent sale or purchase of foreign exchange in the spot market at the time the contract matures, is one half of the forward rate spread plus one half of the pertinent spot rate spread.  2, record 19, English, - spot%20rate%20spread

Record 19,  Textual support,  French

Record number: 19, Textual support number: 1 CONT

Par conséquent, le coût total des transactions pour la stratégie de pari proposée, qui comporte un achat ou une vente de devises au cours du terme et par la suite, à l'échéance du contrat, une vente ou un achat de devises sur le marché du comptant, est égal à la moitié de l'écart entre les cours du terme, plus la moitié de l'écart entre les cours pertinents du comptant.  2, record 19, French, - %C3%A9cart%20entre%20les%20cours%20du%20comptant

Record 19,  Textual support,  Spanish

Record 20,  Textual support,  English

Record number: 20, Textual support number: 1 CONT

Because the forward price of foreign exchange is in general equal to the price expected in the future plus a risk premium, we tested the joint hypothesis known as the "speculative efficiency hypothesis" which states that :(i) markets are efficient;(ii) risk premiums are constant; and(iii) transactions costs are negligible. It should be noted that it is not possible to test condition(i) alone.  1, record 20, English, - speculative%20efficiency%20hypothesis

Record 20,  Textual support,  French

Record number: 20, Textual support number: 1 CONT

Parce que le cours du terme d'une devise est en général égal au cours que l'on prévoit pour l'avenir, plus une prime de risque, nous avons testé les hypothèses conjointes connues sous le nom «d'hypothèses de l'efficience spéculative», selon lesquelles : i) les marchés des changes sont efficients; ii) les primes de risque sont constantes et iii) les coûts de transaction sont négligeables. Il faut toutefois noter qu'il n'est pas possible de tester isolément la première hypothèse.  1, record 20, French, - hypoth%C3%A8se%20de%20l%27efficience%20sp%C3%A9culative

Record 20,  Textual support,  Spanish

Record 21,  Textual support,  English

Record number: 21, Textual support number: 1 DEF

Spot sale of foreign exchange and forward repurchase of same foreign currency against domestic currency.  1, record 21, English, - inward%20swap

Record 21,  Textual support,  French

Record 21,  Textual support,  Spanish