corros

English translation: (closes) the trading session / (closes) trading

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:cierra corros
English translation:(closes) the trading session / (closes) trading
Entered by: Charles Davis

15:14 Sep 5, 2015
Spanish to English translations [PRO]
Bus/Financial - Finance (general) / Trading Floor
Spanish term or phrase: corros
Las ordenes de Mejor Postura Limitada cierra corros directamente....
claudis
(closes) the trading session / (closes) trading
Explanation:
"Corro" has more than one meaning and the trick here is to determine the right one. It would seem, by the way, that we are probably talking here about "open outcry" trading in the Mexican securities market BMV, judging by the previous question on "muñeco" and by this, which comes from a Mexican glossary:

"Orden a mejor postura limitada activa
Uno de los dos mecanismos de ejecución de la Mejor Postura Limitada. Mejor postura limitada que cierra corros directamente."
https://cb.vepormas.com.mx/glosario/index.html

Well, corro certainly does mean what Rebecca and François have both said using different terms:

"CORRO BURSÁTIL
Lugar reservado dentro del parqué de la Bolsa para la negociación de determinados valores."
http://www.economia48.com/spa/d/corro-bursatil/corro-bursati...

But that's not all it can mean. There's also this related meaning:

"Corro: En el sistema de contratación tradicional o de “viva voz”, es el periodo de tiempo en el que se divide la sesión de bolsa. En cada uno de los corros se contratan los valores de un determinado sector."
http://perso.wanadoo.es/sauki/bolsa/diccionario.htm

"CORROS En el sistema de contratación tradicional o de "viva voz" son los periodos de tiempo en los que se divide la sesión de bolsa y en los cuales se contratan los valores de un determinado sector"
http://www.bolsamadrid.es/esp/Inversores/Formacion/Glosario/...

As the second reference shows this meaning is also current in Spain. I think it's the relevant one here. "Las órdenes de Mejor Postura Limitada cierra corros directamente" surely doesn't mean that the trading post or pit closes when such orders are received; it means that's the end of the trading session on that particular kind of security; no more bids are accepted. "Cierre de corro", in this particular context, means close of trading of that particular security:

"8. En caso de que el precio de la orden de compra sea mayor o igual al de la orden de venta, el Sistema procederá al cierre automático de la operación por el volumen menor de la orden y al precio de la que se hubiera registrado primero en tiempo.
9. Las casas de bolsa, no podrán realizar operaciones por cierre de corro sobre sus propias órdenes. En tal caso, el cierre corresponderá a la orden que le siga en prioridad."
https://www.db.com/mexico/docs/bmv_manual_operativo_del_sic....
Selected response from:

Charles Davis
Spain
Local time: 16:37
Grading comment
Selected automatically based on peer agreement.
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +3(closes) the trading session / (closes) trading
Charles Davis
5 +1pits
Francois Boye
4trading posts
Rebecca Jowers


Discussion entries: 2





  

Answers


3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
(closes) the trading session / (closes) trading


Explanation:
"Corro" has more than one meaning and the trick here is to determine the right one. It would seem, by the way, that we are probably talking here about "open outcry" trading in the Mexican securities market BMV, judging by the previous question on "muñeco" and by this, which comes from a Mexican glossary:

"Orden a mejor postura limitada activa
Uno de los dos mecanismos de ejecución de la Mejor Postura Limitada. Mejor postura limitada que cierra corros directamente."
https://cb.vepormas.com.mx/glosario/index.html

Well, corro certainly does mean what Rebecca and François have both said using different terms:

"CORRO BURSÁTIL
Lugar reservado dentro del parqué de la Bolsa para la negociación de determinados valores."
http://www.economia48.com/spa/d/corro-bursatil/corro-bursati...

But that's not all it can mean. There's also this related meaning:

"Corro: En el sistema de contratación tradicional o de “viva voz”, es el periodo de tiempo en el que se divide la sesión de bolsa. En cada uno de los corros se contratan los valores de un determinado sector."
http://perso.wanadoo.es/sauki/bolsa/diccionario.htm

"CORROS En el sistema de contratación tradicional o de "viva voz" son los periodos de tiempo en los que se divide la sesión de bolsa y en los cuales se contratan los valores de un determinado sector"
http://www.bolsamadrid.es/esp/Inversores/Formacion/Glosario/...

As the second reference shows this meaning is also current in Spain. I think it's the relevant one here. "Las órdenes de Mejor Postura Limitada cierra corros directamente" surely doesn't mean that the trading post or pit closes when such orders are received; it means that's the end of the trading session on that particular kind of security; no more bids are accepted. "Cierre de corro", in this particular context, means close of trading of that particular security:

"8. En caso de que el precio de la orden de compra sea mayor o igual al de la orden de venta, el Sistema procederá al cierre automático de la operación por el volumen menor de la orden y al precio de la que se hubiera registrado primero en tiempo.
9. Las casas de bolsa, no podrán realizar operaciones por cierre de corro sobre sus propias órdenes. En tal caso, el cierre corresponderá a la orden que le siga en prioridad."
https://www.db.com/mexico/docs/bmv_manual_operativo_del_sic....

Charles Davis
Spain
Local time: 16:37
Native speaker of: Native in EnglishEnglish
PRO pts in category: 331
Grading comment
Selected automatically based on peer agreement.

Peer comments on this answer (and responses from the answerer)
agree  philgoddard: Thanks for enlightening us!
5 hrs
  -> My pleasure! Thanks :)

agree  lugoben: Quite a nice term, very well exposed
7 hrs
  -> Thanks very much, lugoben. Saludos :)

agree  Rebecca Jowers
9 hrs
  -> Many thanks, Rebecca!

neutral  Francois Boye: The effect should not hide the cause. There is a session whenever traders gather at the pit (corro)
17 hrs
  -> But "pit" is not an appropriate or indeed an accurate translation in this context. A corro is both a place and a period of time.
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8 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
trading posts


Explanation:
It would be helpful if you could provide more context, but in the context of trading on a stock exchange, "corros" usually refers to the trading posts on a trading floor.

--------------------------------------------------
Note added at 12 hrs (2015-09-06 03:43:07 GMT)
--------------------------------------------------

Hi, I thought "trading post" (also known as "pit") was a fairly well-known term, but at Phil's suggestion I will give a few definitions below. (In the meantime I will give Charles an "agree", his answer appears to make more sense here.

TRADING POST--A designated section on a stock exchange floor where trades can take place with real-time transactions. Brokers or individuals representing a brokerage buy, sell, and trade stocks with one another. Trading posts are common sights at most stock exchanges as individuals work aggressively during a specific session to get the best deals for their clients. Some stocks exchanges have multiple trading posts.
http://www.investorwords.com/7739/trading_post.html

Trading post--a booth or location on an exchange floor at which a particular security is traded
http://www.thefreedictionary.com/trading post

Stocks, bonds, warrants, options, and rights are traded at 22 horseshoe-shaped installations, called trading posts, on the floor of the exchange. On the trading floor, the NYSE works in continual auction mode, where traders working on behalf of investors execute stock transactions.
(From an article on how the New York Stock Exchange works:
http://www.investinganswers.com/financial-dictionary/stock-m... )

Rebecca Jowers
Spain
Local time: 16:37
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 280
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2 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +1
pits


Explanation:
The place around which traders or brokers meet to execute their clients' orders

--------------------------------------------------
Note added at 2 hrs (2015-09-05 17:39:11 GMT)
--------------------------------------------------

http://www.eco-finanzas.com/diccionario/C/CORRO.htm
http://www.investopedia.com/terms/p/pit.asp


--------------------------------------------------
Note added at 20 hrs (2015-09-06 12:09:12 GMT)
--------------------------------------------------

The pit or el corro is a physical place where people gather. This gathering is daily except during the week-end. Each daily opening of the pit is cally a session.



Francois Boye
United States
Local time: 10:37
Specializes in field
Native speaker of: Native in FrenchFrench
PRO pts in category: 317

Peer comments on this answer (and responses from the answerer)
agree  philgoddard: This seems to be the same as Rebecca's answer, but neither of you has given any references//Thanks!
1 min
  -> see my 2 references above!
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