15:05 Dec 23, 2009
This question was closed without grading. Reason: Answer found elsewhere

French to English translations [PRO]
Bus/Financial - Investment / Securities / Tax mitigation
French term or phrase: achetés-vendus
"achetés-vendus" here being essentially the sale and buy back of an investment to fix capital losses at that date.
But what is this called in english.
Is there an alternative to "Wash Sales"
Local time: 04:54

Summary of answers provided
4guaranteed principal trades
3 +1buy/sell backs
Hazel Underwood
3stock buyback or share repurchase
Sandra Roselee

Discussion entries: 8



5 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
stock buyback or share repurchase

A stock buyback, also known as a "share repurchase", is a company's buying back its shares from the marketplace. You can think of a buyback as a company investing in itself, or using its cash to buy its own shares. The idea is simple: because a company can’t act as its own shareholder, repurchased shares are absorbed by the company, and the number of outstanding shares on the market is reduced. When this happens, the relative ownership stake of each investor increases because there are fewer shares, or claims, on the earnings of the company.

More information on the reference link.

Sandra Roselee
Local time: 05:54
Native speaker of: Native in RomanianRomanian
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7 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
buy/sell backs

This would probably be the equivalent I think.

Hazel Underwood
United Kingdom
Local time: 03:54
Specializes in field
Native speaker of: Native in EnglishEnglish

Peer comments on this answer (and responses from the answerer)
agree  Chris Hall:ète
21 mins

neutral  joehlindsay: I think a "repurchase agreement" or "repo" is a "mise en pension" or "pension sur titres"..
20 hrs
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4 days   confidence: Answerer confidence 4/5Answerer confidence 4/5
guaranteed principal trades

IF (and only if) you want to know what it's actually called in the Euronext harmonised rule book. This particular type of 'opération d'acheté-vendu' (in securities, executed by an intermediary for one client) comes under this heading ('opérations de contrepartie garanties' in French) in paragraph 4402. Note that it is *defined* as a trade by a market member: buy and sell orders for the same amount of the same security, entered into the order book at the same time.

These trades are permissible if they do not constitute a 'transactiion fictive', and the intermediary could be liable for facilitating market manipulation if they do. But establishing a tax gain or loss is a perfectly good reason, as far as the AMF is concerned: "Il est précisé à cet égard, qu'une opération initiée par un client aux fins de générer, pour un motif fiscal, une plus ou moins-value tout en conservant son actif, ne requiert pas de diligence particulière à ce titre de la part du prestataire."

From the client's standpoint, these would be "wash sales" in US tax terminology. Not illegal: they just don't count for tax purposes. Because they do seem to count in France, that's a good reason to avoid the term. Similarly, the UK "bed and breakfasting rules" are designed to prevent tax-free gains and losses -- and that is not what the client is complaining about, is it? If he did not initiate the trades in question, he would appear to have a valid beef.

United States
Local time: 19:54
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 131
Notes to answerer
Asker: Hello RK. I bow of course to your expertise in this area and wish you a very Happy New Year! I've been trying to find this phrase in use...could you offer one ?

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