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05:43 Nov 1, 2013
This question was closed without grading. Reason: Other
Italian to English translations [PRO] Bus/Financial - Finance (general) / money transfer company
Italian term or phrase:“allo scoperto”
Sì, M2M ci ha mostrato il funzionamento del loro software per il caricamento automatico dei dati dei loro clienti. Oltre a tale verifica, ricordo che M2M ci ha spiegato che le subagenzie con cui collaboravano operavano “allo scoperto” per circa 30.000 Euro.
I agree that "allo scoperto" is the classic phrase for short selling as in "scoperti tecnici" or "uncovered short positions". But in the context that makes no sense. This is a money transfer company (western union) not a securities dealer. An average single short transaction is probably much higher (five figures at least) than €30k. This can't be short selling. It is very probably money transfers for small amounts (three figures) where the agent covers the payment at destination before the funds actually arrive. However that is placing a lot of confidence in the Garrett's context of "money transfer company".
I think that the us of scoperto here is much closer to "andare in scoperto" to be overdrawn, although "allo scoperto" is the classic for uncovered short positions.
@Misdutch and @ Wendy shortselling does not have to be "uncovered" or "naked" where the stocks are borrowed on a margin account, although that tends to be standard practice.
Explanation: I think what they mean is that the "subagenzie" performed transactions without having sufficient funds to cover such operations - soperhaps you could say that they were operating "in the red" or something similar.
lydders Italy Local time: 09:26 Works in field Native speaker of: English PRO pts in category: 77