Betekenis van:
otc market

Werkwoord

Voorbeeldzinnen

1. OTC derivative transactions subject to daily mark-to-market
2. In liberalised markets, electricity can also be traded via bilateral contracts (over the counter’ or OTC market).
3. Broker and dealer services in the Oporto Derivatives Exchange and in the OTC market may not be provided by branches of non-EC broker/dealer companies.
4. Broker and dealer services in the Oporto Derivatives Exchange and in the OTC market may not be provided by branches of non-EC broker/dealer companies.
5. Member States shall require management companies to verify that UCITS exposures to OTC derivatives are assigned fair values that do not rely only on market quotations by the counterparties of the OTC transactions and which fulfil the criteria set out in Article 8(4) of Directive 2007/16/EC.
6. An energy enquiry showed that, because of the possibility of arbitrage between power exchanges and bilateral contracts, trading conditions (in particular price and duration of contracts) on the OTC market are similar to those prevailing on power exchanges.
7. Derivatives have a market value when they are traded on organised markets (exchanges) or in circumstances in which they can be regularly offset on over-the-counter (OTC) markets.
8. In addition they may allow the requirement on a bought exchange‐traded or OTC commodity option to be the same as that for the commodity underlying it, subject to the constraint that the resulting requirement does not exceed the market value of the option.
9. However, in competitive market conditions, the existence of standardised power exchanges and OTC trading necessarily influence such transactions, as a generator or importer would not agree to engage in a bespoke bilateral contract that would offer clearly worse conditions than a standardised spot or forward contract.
10. Furthermore, the conditions of competition in the electricity wholesale trade are also greatly influenced by financial trade in electricity in the market area, which, in terms of volume via NordPool, represented 1,5 times the amount consumed in the Nordic countries [14] (and, if other identified transactions such as OTC, over the counter or direct sale, are included, more than four times the amount [15].
11. When calculating the UCITS exposure to a counterparty in accordance with the limits as referred to in Article 52(1) of Directive 2009/65/EC, management companies shall use the positive mark-to-market value of the OTC derivative contract with that counterparty.
12. In compliance with the fixed quantitative prudential limits already imposed by Directive 2001/108/EC, Member States are recommended to require the assessment of counterparty risk with regard to OTC-derivatives in accordance with the marking-to-market method laid down in Directive 2000/12/EC of the European Parliament and of the Council [7], notwithstanding the need of appropriate pricing models when the market price is not available.
13. It should further be noted that the conditions of competition in wholesale trade in electricity are also greatly influenced by financial trade in electricity in the market area concerned, which, in terms of volume via Nord Pool, represented almost twice the amount consumed in the Nordic countries in 2005 [21] (and, if other identified transactions such as OTC — Over The Counter or direct sale — are included, more than five times the amount in 2005 [22]).
14. The competent authorities may allow the requirement against a written exchange‐traded option to be equal to the margin required by the exchange if they are fully satisfied that it provides an accurate measure of the risk associated with the option and that it is at least equal to the capital requirement against an option that would result from a calculation made using the method set out in the remainder of this Annex or applying the internal models method described in Annex V. The competent authorities may also allow the capital requirement for an OTC option cleared by a clearing house recognised by them to be equal to the margin required by the clearing house if they are fully satisfied that it provides an accurate measure of the risk associated with the option and that it is at least equal to the capital requirement for an OTC option that would result from a calculation made using the method set out in the remainder of this Annex or applying the internal models method described in Annex V. In addition they may allow the requirement on a bought exchange‐traded or OTC option to be the same as that for the instrument underlying it, subject to the constraint that the resulting requirement does not exceed the market value of the option.
15. It should further be noted that the conditions of competition in wholesale trade in electricity are also greatly influenced by financial trade in electricity in the market area concerned, which, in terms of volume via Nord Pool, represented almost twice the amount consumed in the Nordic countries in 2005 [21] (and, if other identified transactions such as OTC — Over The Counter or direct sale — are included, more than five times the amount in 2005 [22]). In the Technical Annex [23], this degree of liquidity was considered as being satisfactory, i. e. it is such as to constitute an indicator of a well-functioning and competitive market.