Traduction de «droit d'échange de devises » (Français → Anglais) :

* Financial markets: markets where buyers and sellers participate in the trading of assets such as bonds, currencies and derivatives (products whose values derive from the value of an underlying asset such as a commodity or currency, e.g. futures and options).

In this respect exemption on foreign exchange swaps and forwards should be considered by ESMA.

the net forward position (i.e. all amounts to be received less all amounts to be paid under forward exchange and gold transactions, including currency and gold futures and the principal on currency swaps not included in the spot position).

the net forward position (i.e. all amounts to be received less all amounts to be paid under forward exchange and gold transactions, including currency and gold futures and the principal on currency swaps not included in the spot position);

Furthermore in 1999 the foreign exchange markets in the EU accounted for about 51% whilst in the US, about 18%, implying that approximately 70% of foreign exchange is traded in these two markets.

The key policy options to be decided upon in establishing such a framework are essentially: which countries and which companies in which sectors will participate- How, and by whom, should the allocation of allowances be made to the sectors and companies involved in emissions trading compared to those not involved, and to individual companies participating in emissions trading- How can emissions trading build upon existing policies and measures such as technical regulation, environmental agreements and fiscal incentives, and how can equivalence of effort be ensured between companies involved in emissions trading and those subject to other ...[+++] policies and measures-