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03:32 May 27, 2002
English to Spanish translations [PRO] Bus/Financial
English term or phrase:the switching redemption
Phrase found in a paragraph of a so called Intermediary Agreement between a family of funds based in the Cayman Islands and any person or company who wants to work as intermediary in the selling and buying of the funds' shares. The exact paragraph follows:
"If the impact of processing switching request transactions received from all sources is deemed to be injurious to one of the Funds, we in our sole discretion may elect to delay the purchase side of the transaction for up to seven days. In such a circumstance, the switching redemption would be made at the price in effect on the first day and the switching purchase would use the price of a date not more than seven days later."
Explanation: To switch is to "retirar fondos de un fondo de inversión y colocarlos en otro fondo de inversión". The process is usually called "rescate" (also called recompra) as the Translator above me proposes...
Escogí la aclaración tuya Aurora porque la información que originalmente colocaste más la que me enviaste por correo, me han dado una base para intentar traducir ambos términos donde aparece la palabra "switching": "switching redemption" y "switching purchase". 1 KudoZ points were awarded for this answer