Glossary entry (derived from question below)
French term or phrase:
souscription-rachat
English translation:
subscription-redemption
Added to glossary by
French2English
Nov 21, 2006 11:03
17 yrs ago
7 viewers *
French term
United Kingdom
BA(Hons), Dip Trans IOL, MCIL London
Native in: English
Works in: French to English, English
souscription-rachat
French to English
Bus/Financial
Finance (general)
mutual funds/late trading
I have found a good definition in French for this term, which appears in a document I am translating which mentions the practice of 'late trading', which I have reproduced below - but I am wondering if any financial expert can explain to me why it is 'rachat' instead of 'revendre' in French... as it is a question of buying and selling shares after the cut-off time, n'est-ce pas? Or is the idea of 'revendre' simply inherent in 'rachat' in this particular case?
Souscription / Rachat : engagement d'acheter / de revendre des parts d'OPCVM émises par une société
Here is the bit from my document (which I understand is a fairly stock-phrase type explanation in French):
Il est rappelé que le late trading est l’opération de souscription-rachat résultant d’un ordre transmis au-delà de l’heure limite mentionnée sur le prospectus.
Souscription / Rachat : engagement d'acheter / de revendre des parts d'OPCVM émises par une société
Here is the bit from my document (which I understand is a fairly stock-phrase type explanation in French):
Il est rappelé que le late trading est l’opération de souscription-rachat résultant d’un ordre transmis au-delà de l’heure limite mentionnée sur le prospectus.
Proposed translations
(English)
| 5 +2 | subscription-redemption |
Sylvia Smith
|
| 4 -1 | purchase-sale |
Marc Glinert
|
Proposed translations
+2
6 hrs
Selected
subscription-redemption
This is standard terminology for UCITSs. Unitholders (investors) make subscriptions and redemptions.
3 KudoZ points awarded for this answer.
Comment: "I would like to thank Marc for his considerable input on this...but have graded the answer on the basis of peer agreement...so thanks also to Sylvia for clarifying the point."
-1
1 hr
Marc Glinert
Native in English
Specializes in field
20 years in financial services
Native in: English 
Works in: English to French, French to English
Related KudoZ points
:
109
purchase-sale
One explanation I could offer French2 is that the terminology has been « borrowed » from elsewhere in the fin. serv. sector, namely from Life insurance. Here the term surrender (full or part-) i.e. rachat, is used to denote the exit of funds from the policy.
There is also a possibility that the investment vehicle you are describing has a Life insurance wrapper, although it may well be comprised of various types of investment fund and unit-linked in nature.
I work in the sector and do not find the terms Souscription / Rachat in any way unusual.
Translate as purchase-sale or
purchase-sale of units
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Note added at 21 hrs (2006-11-22 08:33:46 GMT)
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Hi Sylvia and thanks for your comment.
You are, of course, right, but it’s simply a question of register.
I feel “everyday” terms are sufficient here, as in the description given « engagement d'acheter / de revendre…. », rather than the slightly impenetrable « redemption »
This example from that unrivalled (?!!) source Wikipedia applies to OEICs, but clearly the same vocab set applies for all UCITS...
“in the UK many unit trust mangers have converted to Open-Ended Investment Companies (OEICs) in recent years. OEICs have a single price for purchase and sale.”
(http://en.wikipedia.org/wiki/Unit_Trust)
There is also a possibility that the investment vehicle you are describing has a Life insurance wrapper, although it may well be comprised of various types of investment fund and unit-linked in nature.
I work in the sector and do not find the terms Souscription / Rachat in any way unusual.
Translate as purchase-sale or
purchase-sale of units
--------------------------------------------------
Note added at 21 hrs (2006-11-22 08:33:46 GMT)
--------------------------------------------------
Hi Sylvia and thanks for your comment.
You are, of course, right, but it’s simply a question of register.
I feel “everyday” terms are sufficient here, as in the description given « engagement d'acheter / de revendre…. », rather than the slightly impenetrable « redemption »
This example from that unrivalled (?!!) source Wikipedia applies to OEICs, but clearly the same vocab set applies for all UCITS...
“in the UK many unit trust mangers have converted to Open-Ended Investment Companies (OEICs) in recent years. OEICs have a single price for purchase and sale.”
(http://en.wikipedia.org/wiki/Unit_Trust)
Peer comment(s):
| disagree |
Sylvia Smith
: Sorry Marc, but the terms used for UCITSs are subscription and redemption. // In response to your note, subscription and redemption are indeed the "everyday" terms used in this field.
4 hrs
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Sylvia! Hi. They are indeed. kindly see above....
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