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Namenkonto, Rubrikkonto

English translation: omnibus account, sub-account

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Namenkonto, Rubrikkonto
English translation:omnibus account, sub-account

14:15 Apr 14, 2005
German to English translations [PRO]
Bus/Financial - Finance (general) / asset management
German term or phrase: Namenkonto, Rubrikkonto
I'm looking for a good term for Rubrikkonto, which appears in a Swiss German financial text. The situation is this: the asset management company sets up a general account in its own name ("Namenkonto") with the custodian bank. Then it opens up a number of sub-accounts (Rubrikkonti) for individual clients whose assets it manages (under the custodian's care). Here is the text:
"Diese Vereinbarung betrifft alle Geschäftsfälle, bei welchen ACME Asset Managers von der ihr als Effektenhändlerin zustehenden Möglichkeit der Führung von in ihrem eigenen Namen registrierten Rubrikdepots und –konti mit individuellen Stammnummern und allfällig mit individuell eigenen Zusatzbezeichnungen Gebrauch macht"

Are there standard terms/equivalents in English? What do people think about "nominee account" for Namenkonto and "designated sub-account" for Rubkrikkonto?
G.High
Local time: 16:33
omnibus account, sub-account
Explanation:
An omnibus account is the term used to describe an account held by an asset manager to hold his client's assets. It is divided into sub-accounts for individual clients. It is most commonly used in connection with futures trading although I have seen it used elsewhere. I would not use "nominee account" since that term is commonly used in connection with trusts which probably doesn't apply here. In Switzerland the term "namenskonto" is used to distinguish an account bearing the name of the holder from a numbered account. It can normally be translated simply by account unless your source document makes it necessary to distinguish between named and numbered accounts.

--------------------------------------------------
Note added at 13 hrs 8 mins (2005-04-15 03:24:14 GMT)
--------------------------------------------------

Another possibility for rubrikkonto would be \"master account\" although this may cause confusion in your translation since \"Stammnummer\" is quite often translated by (client) master account number.
Selected response from:

Richard Hall
United States
Local time: 11:33
Grading comment
Thanks Richard, very helpful. "Omnibus a/c" seems common for futures trading, but then I also found several references to mutual funds, including:
"Since a significant percentage of mutual fund shares are sold by third-party financial institutions -- called fund intermediaries -- the CMFI study evaluated the ability of a mutual fund to enforce its market timing policies uniformly under the accounting structure used by these institutions, called "omnibus accounts."

The study concludes that funds cannot effectively enforce their policies because many of their customers are hidden in third-party omnibus accounts."
see
Then I found a v. good specific ref. to a piece of Swiss banking software that must fit the situation described:
"Subaccount of: If this record is a Hedge or Spec Subaccount of an Omnibus Account, this field should contain the Omnibus Account number. The 2 record for the omnibus account must precede the 2 record for its subaccounts (or the omnibus account portfolio record must already be defined in the PC-SPAN database.)"
see
http://www.cme-ch.com/span/spanl202.htm

I originally had "named a/c" for Namenskonto but client rejected it because it was not specific enough (as you mentioned in your comment about named/numbered accounts). Agree "master a/c" more likely to cause potential confusion.

4 KudoZ points were awarded for this answer



Summary of answers provided
5 +1omnibus account, sub-account
Richard Hall
4*general account(s)* and *sub-account(s)*
silfilla
4 -1column account
Claudia Neuner (X)


  

Answers


1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -1
column account


Explanation:
Please see link below. The first one is the article in German. The second in English. Good luck!


    Reference: http://www2.onwirtschaft.t-online.de/dyn/c/14/92/15/1492156....
    Reference: http://translate.google.com/translate?hl=en&sl=de&u=http://w...
Claudia Neuner (X)
Specializes in field
Native speaker of: Native in GermanGerman, Native in EnglishEnglish

Peer comments on this answer (and responses from the answerer)
disagree  Graeme High: The article quoted is a handy reference, and I've found similar occurrences in general news articles, but there is no elucidation. The second English link cited is a Google translate and is (unfortunately) a waste of space. See Richard's answer!
17 hrs
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The asker has declined this answer

1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
*general account(s)* and *sub-account(s)*


Explanation:
your own suggestions! :-)

silfilla
Local time: 11:33
Works in field
PRO pts in category: 181

Peer comments on this answer (and responses from the answerer)
neutral  Graeme High: Thanks, that's not a bad solution, but I like Richard's better.
17 hrs
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13 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +1
omnibus account, sub-account


Explanation:
An omnibus account is the term used to describe an account held by an asset manager to hold his client's assets. It is divided into sub-accounts for individual clients. It is most commonly used in connection with futures trading although I have seen it used elsewhere. I would not use "nominee account" since that term is commonly used in connection with trusts which probably doesn't apply here. In Switzerland the term "namenskonto" is used to distinguish an account bearing the name of the holder from a numbered account. It can normally be translated simply by account unless your source document makes it necessary to distinguish between named and numbered accounts.

--------------------------------------------------
Note added at 13 hrs 8 mins (2005-04-15 03:24:14 GMT)
--------------------------------------------------

Another possibility for rubrikkonto would be \"master account\" although this may cause confusion in your translation since \"Stammnummer\" is quite often translated by (client) master account number.

Richard Hall
United States
Local time: 11:33
Specializes in field
Native speaker of: English
PRO pts in category: 24
Grading comment
Thanks Richard, very helpful. "Omnibus a/c" seems common for futures trading, but then I also found several references to mutual funds, including:
"Since a significant percentage of mutual fund shares are sold by third-party financial institutions -- called fund intermediaries -- the CMFI study evaluated the ability of a mutual fund to enforce its market timing policies uniformly under the accounting structure used by these institutions, called "omnibus accounts."

The study concludes that funds cannot effectively enforce their policies because many of their customers are hidden in third-party omnibus accounts."
see
Then I found a v. good specific ref. to a piece of Swiss banking software that must fit the situation described:
"Subaccount of: If this record is a Hedge or Spec Subaccount of an Omnibus Account, this field should contain the Omnibus Account number. The 2 record for the omnibus account must precede the 2 record for its subaccounts (or the omnibus account portfolio record must already be defined in the PC-SPAN database.)"
see
http://www.cme-ch.com/span/spanl202.htm

I originally had "named a/c" for Namenskonto but client rejected it because it was not specific enough (as you mentioned in your comment about named/numbered accounts). Agree "master a/c" more likely to cause potential confusion.

Peer comments on this answer (and responses from the answerer)
agree  Graeme High: Also helpful, see note to original answer.
5 hrs
  -> Excellent. Glad to have been of help.
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