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part-fills

Russian translation: частичное хеджирование

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:part-fills
Russian translation:частичное хеджирование
Entered by: Tatiana Neroni
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08:18 Feb 11, 2000
English to Russian translations [PRO]
Bus/Financial
English term or phrase: part-fills
The document is the price hedging agreement. Context: "The Hedge Execution Instruction will authorize xxx to execute the hedge at best on a non-cancellable, form order, part-fills acceptable basis...

Maybe some kind soul can offer translation into Russian or at least explanation in English.

Thank you!
markbt
chastichnoye khedgirovaniye
Explanation:
Mogu predlozhitj takoy variant perevoda:
"Instruktziya po osushesvleniyu khedgirovaniya upolnomachivaet XXX osushestvitj khedgirovaniya na osnove podachi formaljnoy zayavki na bezotzyvniy kontrakt s vozmozhnostiyu chastichnogo khedgirovaniya."

I understand that the phrase was taken from a contract between a broker and a client, right? The client should always be careful with such things, he can be burnt really well with futures, options (and parts-filled hedging too). I say that if you are translating a contract for yourself - some of my friends got burnt badly on this kind of stuff. Consult a lawyer before signing anything, the legal fee will be well worth it.

I attach the text of a lecture (in Russian) where this "chastichnoye khedgirovaniye" dovoljno detaljno raz'yasniaetsia.
Selected response from:

Tatiana Neroni
Grading comment
4 KudoZ points were awarded for this answer

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Summary of answers provided
naЧастичное испол&
Radian Yazynin
nadrobleniye zakaza na pokupku/prodazhu instrumenta hedzhirovaniyaStan Danysh
nachastichnoye khedgirovaniyeTatiana Neroni
napart-fillsaosokin


  

Answers


40 mins
part-fills


Explanation:
It can mean two things:

1. xxx might not trade the whole amount of the order (say, he'll trade only 80%).

2. if the market moves against him he might trade at different prices.

(Though it should be noted that trading at part-fills acceptable basis is rather risky.)

aosokin
Local time: 12:51
Native speaker of: Native in RussianRussian
PRO pts in pair: 15
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1 hr
chastichnoye khedgirovaniye


Explanation:
Mogu predlozhitj takoy variant perevoda:
"Instruktziya po osushesvleniyu khedgirovaniya upolnomachivaet XXX osushestvitj khedgirovaniya na osnove podachi formaljnoy zayavki na bezotzyvniy kontrakt s vozmozhnostiyu chastichnogo khedgirovaniya."

I understand that the phrase was taken from a contract between a broker and a client, right? The client should always be careful with such things, he can be burnt really well with futures, options (and parts-filled hedging too). I say that if you are translating a contract for yourself - some of my friends got burnt badly on this kind of stuff. Consult a lawyer before signing anything, the legal fee will be well worth it.

I attach the text of a lecture (in Russian) where this "chastichnoye khedgirovaniye" dovoljno detaljno raz'yasniaetsia.


    Reference: http://dx.sscc.ru/Lect7/Lect7.htm#topic2
Tatiana Neroni
PRO pts in pair: 186
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3 hrs
drobleniye zakaza na pokupku/prodazhu instrumenta hedzhirovaniya


Explanation:
Let's examine an example:
I want to buy (hedge) 100 shares of stock Z (contracts, futures, whatever):
If the clause in the agreement provides for part-fills that means that the following is acceptable:
Fill #1 (trade #1) 27 shares at Price 1
Fill #2 (trade #2) 13 shares at Price 2
Fill # 3 (trade #3) 60 shares at Price 3
The danger is that the prices differ on the individual parts of the larger order filled. If there exists a liquidity problem, an additional danger is that you will not find a seller for the rest of the order.

So the synonym to the term part-fills is "partial execution (filling) of an order". In essence what's happenning is "drobleniye zakaza na pokupku/prodazhu instrumenta hedzhirovaniya". "Chastichnoye ispolnenie" is not quite acceptable because it might imply that you may only fill part of the whole order while not being able to fill the remainder. "Drobleniye", on the other hand, implies that the total amount of the order will be filled but it smaller chunks.

Reference: (sorry no website)
Keown, Petty, Scott, Martin (1999). FOUNDATIONS OF FINANCE: The Logic and Practice of Financial Management. 2nd Ed. Prentice Hall, USA.


Stan Danysh
PRO pts in pair: 12
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2 days13 hrs
Частичное испол&


Explanation:
Chastichnoye ispolneniye brokerom prikaza kliyenta - Partial fill, as given by EN-RU Dictionary of Economics and Finance, St. Petersburg, 1993

Radian Yazynin
Local time: 19:51
Native speaker of: Native in RussianRussian
PRO pts in pair: 283
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