seguro de cambio cerrado/abierto

21:53 Mar 8, 2018
This question was closed without grading. Reason: Answer found elsewhere

Spanish to English translations [PRO]
Bus/Financial - Investment / Securities
Spanish term or phrase: seguro de cambio cerrado/abierto
I have seen seguro de cambio is usually translated as a foreign exchange hedge, but I am not entirely sure about that translation in this context, and if so, what exactly cerrado and abierto would be in this case, as the usual types of hedges 'forwards' and 'options' do not seem exactly to fit the bill.

El Seguro de Cambio es un contrato financiero que consiste en la realización de una operación de compra o venta a plazo en el mercado de divisas, realizada por LA ENTIDAD en su condición de intermediario financiero por cuenta del cliente, y que tiene por objeto la cobertura del riesgo de cambio (movimientos desfavorables en el cambio de la divisa) en una determinada operación. De esta forma, el cliente se asegura el precio de la divisa. Es un acuerdo a medida de las dos partes que lo contratan y que, como contrato a plazo, las vincula a ambas. No es transferible (no hay mercado secundario) y se suele liquidar por diferencias en caso de incumplimiento.
Existen dos modalidades de Seguro de Cambio: cerrado y abierto.
El primero hace referencia a aquel contrato de compra o venta de divisa a plazo en el que se establece una fecha de vencimiento fija para liquidar todo el importe contratado al precio pactado.
En el Seguro de Cambio abierto se fija una fecha de vencimiento que será la última en la que se pueda liquidar el importe contratado, pudiendo aplicar el cambio pactado a distintas disposiciones que se podrán efectuar a lo largo de la vida de dicho seguro
Anna Moorby DipTrans
Local time: 22:05

Summary of answers provided
4Forex Options
Emma Iglesias
4closed/open foreign exchange hedge
Francois Boye
3closed/open exchange (rate) fluctuation insurance
David Hollywood

Discussion entries: 1



24 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
Forex Options

There are two types of traditional options offered by brokers:
Based on the text explaining the cerrado an abierto, I believe this refers to Forex Options and the two types of expiration.
American-style – This type of option can be exercised at any point up until expiration. (Open)
European-style – This type of option can be exercised only at the time of expiration. (Closed)

Note added at 25 mins (2018-03-08 22:18:38 GMT)

So Seguro de Cambio abierto would be an American Style Forex Option.
And Seguro de Cambio cerrado would be a European Style Forex Option.
Emma Iglesias
Local time: 22:05
Native speaker of: Native in SpanishSpanish
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3 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
closed/open exchange (rate) fluctuation insurance

I would say

Note added at 3 hrs (2018-03-09 01:45:32 GMT)

in this sense

An open health fund, like HIF, is a membership organisation which provides policies to the general public. A closed (or 'restricted') health fund only provides insurance policies through specific employment groups, professional organisations or unions.

Note added at 5 hrs (2018-03-09 03:25:28 GMT)

maybe add "-ended"

David Hollywood
Local time: 17:05
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 16
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17 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
closed/open foreign exchange hedge


Francois Boye
United States
Local time: 16:05
Native speaker of: Native in FrenchFrench
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