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à dénouement monétaire

English translation: cash-settled

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:à dénouement monétaire
English translation:cash-settled
Entered by: Rob Grayson

08:11 Jul 23, 2009
French to English translations [PRO]
Bus/Financial - Investment / Securities
French term or phrase: à dénouement monétaire
I have encountered this phrase in a text about the financial dealings of a French quoted company. Here's the context:

"La société X a conclu entre [date] et [date], avec plusieurs banques, des total return swaps (TRS) ***à dénouement monétaire***, à hauteur de Y% du capital de la société Z."

I know what a TRS is, but am unsure about the addition of "à dénouement monétaire". I guess it means "cash-settled", or something similar. Then again, I'm wondering whether it needs to be explicitly translated at all, or whether its meaning is implicit in that of a TRS.

Any insight appreciated – TIA.
Rob Grayson
United Kingdom
Local time: 15:34
cash-settled
Explanation:
Your instinct was correct.

cf. "The world of cash-settled equity total return swaps has become significantly more uncertain due to a recent decision in the US District Court case of CSX Corporation v. The Children's Investment Fund Management (UK) LLP, (TCI) et al.1 In that decision, Judge Lewis Kaplan concluded that one of the defendant hedge funds, TCI, had entered into cash-settled total return swaps …"
Selected response from:

rkillings
United States
Local time: 07:34
Grading comment
Thanks for the confirmation, Bob – I had to deliver the translation yesterday, and used "cash-settled"
4 KudoZ points were awarded for this answer



Summary of answers provided
4cash-settled
rkillings
Summary of reference entries provided
exclusivement en espèces
Michèle Voyer

  

Answers


14 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
cash-settled


Explanation:
Your instinct was correct.

cf. "The world of cash-settled equity total return swaps has become significantly more uncertain due to a recent decision in the US District Court case of CSX Corporation v. The Children's Investment Fund Management (UK) LLP, (TCI) et al.1 In that decision, Judge Lewis Kaplan concluded that one of the defendant hedge funds, TCI, had entered into cash-settled total return swaps …"


    Reference: http://www.valueplays.blogspot.com/2008/01/ackman-enters-int...
rkillings
United States
Local time: 07:34
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 131
Grading comment
Thanks for the confirmation, Bob – I had to deliver the translation yesterday, and used "cash-settled"
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Reference comments


25 mins
Reference: exclusivement en espèces

Reference information:
Bonjour Rob, regardez ceci qui semble confirmer qu'il s'agit bien de "cash settlement" comme vous le suggérez vous même, un document de l'AMF : http://www.amf-france.org/inetbdif/viewdoc/affiche.aspx?id=4...


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Note added at 29 mins (2009-07-23 08:41:27 GMT)
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I would for my part translate the expression, it is important to specify how it can be settled.

You might want to have a look at this as well : http://www.comprendrelabourse.com/Etudiants/Memoires/derived...

I am not a specialist in swaps but when I translate financial documents, I use the "principe de précaution" and stick closely to the text. You have a stronger professional background than mine in this field though.

Michèle Voyer
Switzerland
Native speaker of: Native in FrenchFrench, Native in EnglishEnglish
Note to reference poster
Asker: Merci Michèle, ça semble en effet conforter cette interprétation...

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