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variabel gehandelt

English translation: variable price trading

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16:52 Nov 10, 2000
German to English translations [PRO]
Bus/Financial
German term or phrase: variabel gehandelt
This ties into my previous question, but what's being "variabel gehandelt" is the brokerage firm's own stock. Zahn offers "continuous trading" and "variable-price trading." Are these terms accurate and what do they mean/refer to and/or don't mean/don't refer to?

Thanks in advance for any help.
Cami Townsend
English translation:variable price trading
Explanation:
From the horse's mouth (as it were):

Variabler Handel
(Variable-price trading)
The price is determined during trading hours for each specific transaction, based on supply and demand. Variable-price trading is subject to minimum quantities per class (for instance, in Germany 50 shares with nominal value of DM 50.-, and 100 shares with nominal value of DM 5.00).
public.deutsche-bank.de/global/mis/mis.nsf/doc/UMOR-42XJDM?OpenDocument

See also the following explanations/definitions:
Variabler Handel: Fortlaufende Notierung, variable Notierung; variable Kurse; für Aktien liquider Gesellschaften wird an jedem Börsentag nicht nur ein Kassakurs, festgestellt, sondern fortlaufend alle Notierungen, die letzte Notierung ist der Schlusskurs. Auch bestimmte Anleihen werden variabel gehandelt und fortlaufend notiert.
http://www.fool.de/schule/glossar/glossar6.htm#v

Kassakurs (Einheitskurs)
Bei den meisten Aktien und Anleihen werden die Kurse während der Börsensitzung einmal festgelegt, die Papiere werden also nicht variabel gehandelt. Daneben werden bei variabel gehandelten Papieren alle Aufträge zum Kassakurs abgerechnet, die nicht über den sogenannten "Mindestschluß" des variablen Handels - meist 50 Aktien oder ein Mehrfaches davon - laufen. Auch erfolgt hier ein Spitzenausgleich, wenn z.B. eine Kundenorder über 70 Aktien mit 50 Stück im variablen Handel angerechnet wird.
http://www.google.com/search?q=cache:www.uckernet.de/iron-by...|lang_de

Fortlaufende Notierung (variable Notierung) gilt für Aufträge, die unter dem Mindestbetrag liegen. Sie werden zum Kassakurs abgerechnet und ebenso, wie bestimmte Anleihen, variabel gehandelt und fortlaufend notiert.Für Aktien größerer Gesellschaften wird an jedem Börsentag nicht nur ein Einheitskurs festgestellt, sondern alle Notierungen, zu denen Geschäfte über einige Tausend Mark Nennwert bei einem Umsatzminimum von 50 Stück, ein "Schluß", abgeschlossen werden; die letzte Notierung ist der Schlußkurs.
http://www.telass.de/soft/kapital2/lextext.html

HTH!
Selected response from:

Ulrike Lieder
Local time: 01:42
Grading comment
In my first draft I used "continuously traded," and that's what I'm sticking with. I did find some web pages where "continuously traded" was used. Of course, to say that a stock "has been" continuously traded implies that it has been listed on a specific exchange without interruption, but it's also an alternative to variable-price trading and easier to use in non-nominal form ("is continuously traded"). I did find instances on the Internet where it was used as such and tha'ts always nice. Thanks to both of you for your input.
4 KudoZ points were awarded for this answer

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Summary of answers provided
natraded on a real-time (price) basisDan McCrosky
navariable price tradingUlrike Lieder


  

Answers


45 mins
variable price trading


Explanation:
From the horse's mouth (as it were):

Variabler Handel
(Variable-price trading)
The price is determined during trading hours for each specific transaction, based on supply and demand. Variable-price trading is subject to minimum quantities per class (for instance, in Germany 50 shares with nominal value of DM 50.-, and 100 shares with nominal value of DM 5.00).
public.deutsche-bank.de/global/mis/mis.nsf/doc/UMOR-42XJDM?OpenDocument

See also the following explanations/definitions:
Variabler Handel: Fortlaufende Notierung, variable Notierung; variable Kurse; für Aktien liquider Gesellschaften wird an jedem Börsentag nicht nur ein Kassakurs, festgestellt, sondern fortlaufend alle Notierungen, die letzte Notierung ist der Schlusskurs. Auch bestimmte Anleihen werden variabel gehandelt und fortlaufend notiert.
http://www.fool.de/schule/glossar/glossar6.htm#v

Kassakurs (Einheitskurs)
Bei den meisten Aktien und Anleihen werden die Kurse während der Börsensitzung einmal festgelegt, die Papiere werden also nicht variabel gehandelt. Daneben werden bei variabel gehandelten Papieren alle Aufträge zum Kassakurs abgerechnet, die nicht über den sogenannten "Mindestschluß" des variablen Handels - meist 50 Aktien oder ein Mehrfaches davon - laufen. Auch erfolgt hier ein Spitzenausgleich, wenn z.B. eine Kundenorder über 70 Aktien mit 50 Stück im variablen Handel angerechnet wird.
http://www.google.com/search?q=cache:www.uckernet.de/iron-by...|lang_de

Fortlaufende Notierung (variable Notierung) gilt für Aufträge, die unter dem Mindestbetrag liegen. Sie werden zum Kassakurs abgerechnet und ebenso, wie bestimmte Anleihen, variabel gehandelt und fortlaufend notiert.Für Aktien größerer Gesellschaften wird an jedem Börsentag nicht nur ein Einheitskurs festgestellt, sondern alle Notierungen, zu denen Geschäfte über einige Tausend Mark Nennwert bei einem Umsatzminimum von 50 Stück, ein "Schluß", abgeschlossen werden; die letzte Notierung ist der Schlußkurs.
http://www.telass.de/soft/kapital2/lextext.html

HTH!

Ulrike Lieder
Local time: 01:42
Native speaker of: German
PRO pts in pair: 3525
Grading comment
In my first draft I used "continuously traded," and that's what I'm sticking with. I did find some web pages where "continuously traded" was used. Of course, to say that a stock "has been" continuously traded implies that it has been listed on a specific exchange without interruption, but it's also an alternative to variable-price trading and easier to use in non-nominal form ("is continuously traded"). I did find instances on the Internet where it was used as such and tha'ts always nice. Thanks to both of you for your input.

Peer comments on this answer (and responses from the answerer)
Meturgan
Login to enter a peer comment (or grade)

12 hrs
traded on a real-time (price) basis


Explanation:
Uel's answer gave us all great info about what is meant, but how do we make a verb out of it and what is the best Anglo-Saxon term?

"To trade at a variable price" seems to me to be an Unding. "To trade" in our sense here, is to conclude a deal, but nobody can conclude a deal without knowing the price, so at the moment the deal is concluded the price is no longer variable.

A query for "trad* at variable prices" got only 9 hits, mostly from places like Estonia, Lithuania, Latvia, and Austria, like this one:

http://augenblix.wu-wien.ac.at/inst/vw4/sikl/old/h8925060/oe...

"are traded at variable prices which are quoted on a continuous basis"

"trad* at current quotations" recorded no hits.

"trad* at current prices" recorded 14 hits, mostly from places like the Czech Republic, Estonia (again), Scotland, and Singapore. Many of the 14 were extraneous.

"trad* at spot prices" got over 7 million hits but "spot price" is usually translated as "Kassakurs" and/or used for commodities.

"trad* at inter-day prices" got zero hits

+"inter-day" +"variable price trading" also got zero hits

Then the final hammer, "variable-price trading" itself only got 6 hits, all extraneous or German.

"inter-day trading" got 13 interesting hits like:

http://www.tgmag.ca/tgof96/busness2.html

"Low/bid: Lowest inter-day trading price or last bid price if there are no trades."

http://www.cs.iupui.edu/~ateal/draft3b.html

"It should be noted that the phrase "number of periods" used for the definition of H, L, and C can be either days, weeks, months, or even minutes for inter-day trading."

"real-time trading" got over 3000 hits, nearly all .com sites like:

+"real-time pric*" +exchange" got over 3900 hits, many extraneous but also sites like:

http://www.mellon.com/personal/dbs/

and this "horse" that is nearly as good as the Deutsche Bank:

http://www.ny.frb.org/pihome/news/speeches/ep980623.html

"Financial markets today are also highly dependent on the availability of real-time price and trade quotations provided by financial information services."

and also this .uk site:

http://www.market-eye.co.uk/

"Recent changes in the rules relating to real-time data mean that delayed prices can now be received without paying exchange fees."

But after all this research, nobody came right out and said that "variabel gehandelt" = "§%$)?ß/*#"

Therefore, a safe translation might be "traded on a real-time (price) basis".


Dan McCrosky
Local time: 10:42
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 1541
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