American
Translators
Association
Financial Translation and Interpreting
C   O   N   F   E   R   E   N   C   E

Hyatt Regency   I   Jersey City, New Jersey   I   April 29-May 1, 2005
Final
Program
Register
Today
Special
Features
Exhibitors and
Sponsors
Hotel and
Travel
General
Info

F I N A L   P R O G R A M
Schedule   l   Sessions   l   Speakers


Sessions

Indicates which sessions are included on the CD-ROM. Click on the CD to learn how to order!

 

Non-Language-Specific Sessions
_______________________________________________________________________

N-1 Prosecuting Money Laundering
Marion Percell (90 minutes)
Language of Presentation: English


Let's face it, money is important to us all. It is the mechanism we use to acquire the things we need (food, housing, clothing, etc.) and lots of the things we want (money can certainly buy you a flat-screen TV, and some people think money can even buy you love!). It is also the motive for most crime. In fact, most crime is just an attempt to use an unfair, hurtful, or dangerous shortcut to acquire money. Once the criminal has succeeded in acquiring money from committing a crime, he needs to hide the crime, hide the proceeds of the crime, and, most importantly, hide his connection to both the crime and the proceeds. How can we use this knowledge to fight crime? That's the subject of this presentation. We will discuss how and why criminals launder money, the laws designed to combat that activity, and how money laundering is investigated and prosecuted. Along the way, we will talk about how financial institutions are used to move the proceeds of crime and facilitate money laundering.

_______________________________________________________________________

N-2 From "Greeks" to Modified Duration—An Introduction to Common Risk Management Parameters and Strategies
Ralf Lemster (90 minutes)
Language of Presentation: English


From "portable alpha" to "beta" factors, using "delta-neutral" strategies, looking into duration, and calculating basis point values—indicators and parameters used to denote commonly-used concepts in risk management can be confusing. A sound understanding of how these concepts work is the key to properly assessing the content of complex and often highly technical descriptions in asset manager reports, product descriptions, and similar texts. This presentation will begin by looking at the four basic options strategies, dealing with option sensitivity parameters (delta, gamma, kappa, and theta), and their importance in risk management. The presentation will also cover the concepts of beta hedging and how to generate alpha in investment management, as well as provide an outline of the most important concepts in managing fixed-income risks: duration and sensitivity analysis (basis point values). The focus of the presentation will be to explain the mechanics of the concepts involved and on key technical terminology.

_______________________________________________________________________

N-3 The Language of Financial Market Rules and Regulations
Robert B. Killingsworth (90 minutes)
Language of Presentation: English


A host of rule-making bodies—securities exchanges, regulatory commissions, standards boards, legislatures, international organizations, trade associations—set the parameters of financial markets: the who, what, when, how, and (even) why. The terms they adopt unavoidably populate the vocabulary of the texts we translate. This presentation focuses on regulatory terminology. How should the translator recognize and deal with words and phrases that have an "official" definition (in some jurisdiction!)? How can the translator cope with the linguistic challenges of the many regulatory initiatives going on around the world such as the Financial Services Action Plan of the European Commission, the financial reporting standards of the International Accounting Standards Board, the bank capital requirements of the Basel Committee, or the control demands of the Financial Action Task Force and Sarbanes-Oxley? The presenter will use examples drawn from his own experience in translating from French to English—for French regulatory bodies, for French trade associations responding to the European Union consultations and draft directives and, of course, for private-sector clients writing about events in the markets. The presenter will also offer tips on where to find existing source- and target-language pairings and how to decide whether a found term is appropriate to the context at hand. This presentation is intended to be of value to those who do not speak French or any other Romance language.

_______________________________________________________________________

N-4 The What and How of Securitization
Silvana Teresa Debonis (90 minutes)
Language of Presentation: English


The securitization process was developed to fill a gap in financial markets caused by certain market imperfections. It has successfully served to link borrowers directly to the money and capital markets. This presentation will explain the basics and the mechanics of securitization and show how it benefits both borrowers and investors. This presentation will offer an overview of the various parties involved in the process (borrower, originator, servicer, rating agency, special purpose vehicle, credit enhancer, underwriter, and investor) and will discuss how these parties interact with one another.

_______________________________________________________________________

N-5 Translation and the Financial Information Supply Chain
Robin Bonthrone (90 minutes)
Language of Presentation: English


The "Financial Information Supply Chain" is a concept that is being driven in particular by the evolution of global electronic financial reporting platforms that are designed to enable the rapid dissemination of various types of financial information, including tax returns and regulatory reporting, analyst recommendations, and financial reporting data. This development is being accompanied by the spread of international standards for financial accounting and reporting in the form of the International Financial Reporting Standards (IFRSs) that are being adopted in a growing number of countries worldwide and throughout the European Union (EU), where they have been translated into all EU official languages. The global flow of financial information is necessarily a multilingual process, and this presentation examines how translation—and translators—fit into this supply chain by reference to eXtensible Business Reporting Language (XBRL) and IFRSs as examples of multilingual resources that translators around the world can leverage to standardize and improve the quality and increase the speed of delivery of financial translations. This presentation will also illustrate how translators can add value to their customers' financial information supply chains (for example, through involvement in standardization efforts) and highlight the wealth of resources now available to translators to help them meet the challenge of rapidly evolving subject area content and terminology.

_______________________________________________________________________

N-6 "I Can Do That!" An Overview of Asset Management, Strategy, and the CFA Program
Stephanie Tramdack Cash (90 minutes)
Language of Presentation: English


If you translate the ruminations of asset managers and strategists, you may have wondered how hard their jobs could really be. This general-interest session gives you a chance to sit at that really big desk. The presentation has four parts: (1) attendees will participate in the construction of a realistic, multi-scenario, probability-weighted asset allocation model; (2) attendees will learn about the role of performance measurement consultants, who influence the language and behavior of asset managers from behind the scenes; (3) using real-life examples, attendees will learn how to lend a false air of objectivity to their clients' discourse; and (4) attendees will find out about the Chartered Financial Analyst (CFA) program, with an emphasis on the CFA Code of Ethics and Standards of Practice. Even if you don't want to switch to a career in money management, this session will improve your sensitivity to the everyday problems asset managers face. Handouts will include some real-life examples of useful rephrasing, material on the CFA program, an extensive list of suggested readings, and suggestions for developing new networks. Advanced mathematical knowledge is not needed for this session. A calculator will be useful, but not necessary.

_______________________________________________________________________

N-7 Financial Accounting: Understanding English Financial Statements
Ted R. Wozniak (90 minutes)
Language of Presentation: English


This presentation aims to improve participant's translation of financial statements from or into English by providing an overview of financial accounting under U.S. Generally Accepted Accounting Principles and International Financial Reporting Standards, comparing and contrasting the two systems. By focusing on the underlying concepts and the English terminology associated with these concepts, participants will be better able to parse new or unfamiliar terms from/into their target language. Participants should have at least a basic understanding of accounting (debits/credits, what an income statement or balance sheet is, etc.) as the underlying concepts form the basis for reporting requirements. The presentation will use two sets of financial statements to demonstrate the application of financial accounting standards, with special emphasis on the notes to the financial statements. The major focus will be on standard English terminology. Handouts will include a glossary of common accounting terms with definitions in English.

_______________________________________________________________________

N-8 Risk Management for Financial Translators
Ralf Lemster (90 minutes)
Language of Presentation: English


Financial translators need to be familiar with risk management techniques, yet they often find themselves exposed to a multitude of risks. This presentation begins with a discussion of typical risks freelance translators find themselves exposed to, particularly when rendering their services online to customers they have never met in person. We will look at tell-tale signs of high-risk job "offers," but also at risk-mitigating strategies. Recent developments in the foreign exchange markets—particularly concerning the exchange rate between the euro and the U.S. dollar—highlighted the need to assess foreign currency exposure. We will look at how freelancers can quantify these risks and take measures to manage them.

French Sessions
_______________________________________________________________________

F-1 Solvabilité bancaire et Bâle II
Dominique Jonkers (90 minutes)
Language of Presentation: French


The financial crises of the 1980s prompted the financial community to strengthen the international financial system in order to avoid the collapse of international banks and national economies. The Basel Committee, a committee that is part of the Bank for International Settlements in Switzerland, developed a set of capital adequacy rules. These rules have been in existence for more than a decade but have recently been amended. Although several years will pass before these amended rules will have any visible impact, this presentation will identify and discuss some of the issues that will be affected, as well as their impact on the banking business.

_______________________________________________________________________

F-2 Junk Bonds and Glamour Stocks: A Fun Approach to Neologisms and Their Possible Translations
Cathy J'espère (90 minutes)
Language of Presentation: French


The daily life of a financial translator consists of haircuts and one-shots, road shows and free riders, blue chips and grey markets, and giveaways and incentives, not to mention strange actions like "hit-and-run." Between the official recommendations and what you actually read in the press, it is often not easy to make the right decision. This presentation is based on both articles and practical situations and is aimed at better approaching these new financial terms and choosing the best solution.

_______________________________________________________________________

F-3 "Aggressive" Translations: How to Know How Far is Too Far
David Jemielity (90 minutes)
Language of Presentation: English


Translators who work within financial services companies realize that the perceived added value of translation within their organizations can be greatly increased by taking an "aggressive" approach to some texts. This entails more than simply reformulating sentences, and presupposes that the translator has spent a lot of time reading about the field, can turn a nice phrase when he has to, and has managed to get into the head of the client. A sharp translator taking an "aggressive" approach starts by asking himself "What is this text trying to do?" He may then decide to shift the order in which ideas are presented, add content that is "missing" from the source text when seen in terms of the target audience's expectations, or (in the case of marketing texts) use a completely different pitch when faithfulness to the desired effect conflicts with faithfulness to the source text. Of course, getting inside the client's head (just what is the desired effect, anyway?) can be a problem for freelancers who generally don't have day-to-day exposure to their client-company and its people. In an office seven blocks or seven time zones from the client, it can be difficult to determine exactly where the line is between "high-added-value" and "mistranslation." Clearly, one should not "trans-create" financial statements. This presentation will look in detail at several case studies of particular translations, all of which went through multiple revisions and whose "faithfulness" ranges from "very close to the French" to "complete rewrite." We will examine some very loose, very successful translations done by far-flung freelancers in an attempt to determine what helped them "guess right," while other case studies will provide concrete illustrations of areas where rewriting can be very dangerous indeed. The case-study section of the talk will be conducted partly as a guided discussion.
_______________________________________________________________________

Where the Action Is
Christine Durban, Dominique Jonkers, and Robert B. Killingsworth
Language of Presentation: English

F-4 Part I (90 minutes)
F-5 Part II (90 minutes)

Tunnel vision can be fatal. Financial translators have a vested interest in getting the inside scoop on hot issues and trends shaping up for the year ahead, if only to do the reading necessary to be the right supplier in the right place at the right time. The same information allows them to become more proactive, reaching out to potential clients in a timely way. The first part of this presentation is based on interviews with ten industry leaders in Paris and London—not translators, but bankers and financial journalists, as well as strategy experts, working for trading and clearing authorities, and senior executives in manufacturing and services. Each has been asked to identify key areas where translation will be needed in their fields for the years 2005-2006 and to specify the precise skills their organizations will be looking for when buying translations. Results will be summarized and discussed with examples. The second part is a roundtable of financial translators discussing these client perceptions and priorities, their implications, and other types of added value that translators bring to demanding clients. They will also address how translators entering the field can position themselves to become active players in this exciting market.

_______________________________________________________________________

F-7 Benchmarking Style in French-to-English Financial Translation
David Jemielity (90 minutes)
Language of Presentation: English


This session complements Saturday's presentation on "aggressive" translations and will return to similar issues, but from a different angle. (It is, however, designed to be useful to those who cannot attend Saturday's talk.) Having previously focused on the how of producing translations that read well, this presentation will now turn to the what. Just what does reading well mean anyway? This is tricky ground. Stylistic standards tend to shift from context to context (for example, consider the likely reaction of a college English teacher to the title of this presentation) and, even within a given discourse, world-informed opinions vary widely. Perhaps because of the seemingly vexed nature of the question of what is good style, it tends to get less attention at conferences and on web forums than subject-matter issues like the arcana of finance. In fact, financial translators need to develop a real expertise in the English language as well as be able to project this expertise to clients. This is particularly true for us to-English translators, given the increasing number of competent or even native English speakers at the companies we serve. In short, the kind of writing skills that can now take a translator to the top of the market may soon become a sine qua non of mere survival. Rather than attempt to settle question of style, this presentation will provide an overview of useful approaches and sources of information with specific examples of texts and situations where they come in handy. We will also discuss short case studies in order to tap the best information source of all—what other translators have to say about a tough passage.

_______________________________________________________________________


F-8 Language of Regulation II: Focus on France
Robert B. Killingsworth (90 minutes)
Language of Presentation: French


This language-specific presentation, intended primarily for translators working from French to English, takes up where the presenter's first-day session leaves off. It will begin with an overview of the current institutional setting in France: the laws, the rule-making bodies, the systems, the players in the financial markets, and the instruments they play. The remainder of the session will then be devoted to a guided tour through the thicket of terms and nomenclatures at each level with emphasis, of course, on those terms that are most problematic for the translator. What do you do with ...that cryptic acronym? ...that law named after the legislator who proposed it? ...that awkward seven-word phrase for a category of securities or a type of fund? What do you call ...that required note d'information when it applies to an IPO? ...a tender offer? ...a share buyback program? When an English loanword appears in your text, do you dare change it? The presenter will share his own preferred solutions for the examples he discusses, but his advice will consist more of a recommended approach than of a list of received answers.



German Sessions
_______________________________________________________________________

G-1 New Investment Tools for Private Investors—Challenges and Opportunities for Translators
Ralf Lemster (90 minutes)
Language of Presentation: German


Gone are the days when sophisticated investment vehicles and structured products were "off limits" to private investors. Exchange-traded funds have conquered European exchanges and major market players provide a strong flow of tailor-made investment certificates. As large international finance houses—whose product developers and marketers are usually located in the U.S. or the UK—increasingly seek to explore the European retail markets, there is a clear need for high-quality translations of marketing material and supporting documentation. But these obvious opportunities for financial translators also come with a challenge, as they need to keep up with innovations and try to come up with non-English equivalents of technical lingo. This presentation will focus on the most important developments in exchange-traded funds, investment certificates, and structured products, outlining the key structural aspects and discussing the linguistic issues that arise as a consequence.

_______________________________________________________________________

Unraveling German
James Sievert
Language of Presentation: English

G-2 Part I (90 minutes)
G-3 Part II (90 minutes)

Everyone knows that the essence of good translation is good writing. Everyone knows that a good translation is one that does not sound like a translation. Everyone knows this. So why do so many translations go bad? In this three-hour session, we will go after this question by talking about writing itself and the hallmarks of good writing. We will unravel German to reveal English. We will dissect texts from The Wall Street Journal and the Financial Times to find the essence of good writing. We will focus on the journalistic style of writing to show how you can add the skills of a journalist to your bag of tricks to help you write better and more efficiently. Specifically, we will complete writing exercises using basic boilerplate journalism so you can develop your own template for writing. The second half of the session will be devoted to translating financial market reports and country reports from German into English. You will learn how to clearly explain why one translation is good and another one is not so good. This session will be helpful if you are planning your own course on writing and translation. Speaking of writing, you will be doing plenty of it so bring a writing pad and writing instrument.

_______________________________________________________________________

G-4 HGB 2005
Robin Bonthrone (90 minutes)
Language of Presentation: English


Although almost all German listed companies will have to report under the International Financial Reporting Standards (IFRS) starting in 2005, this doesn't mean that translators can ignore the fact that reporting for single-entity financial statements will still largely be governed by the German Commercial Code, Handelsgesetzbuch (HGB). Few German companies are expected to make use of the option to publish "separate financial statements" (i.e. single-entity financial statements) under IFRSs because they will still be required to prepare HGB single-entity financial statements, which will continue to be the basis for tax accounting and dividend payments. In addition, a growing number of unlisted German companies are requiring translation of their HGB financial statements as they search for foreign investors to overcome the succession problem. The HGB has undergone substantial revision over the years, and some of these amendments are reflected in the materials that have to be translated into English. In addition, 2005 looks set to be a landmark year in the development of English translations of HGB financial statements, with publication of the substantially revised 4th edition of the classic Deutsches Bilanzrecht—German Accounting Legislation, and of the heavily reworked Version 2 of the bilingual XBRL Taxonomy for German Accounting Principles. This presentation will examine some of the changes to the HGB affecting translations, highlight and explain both new terminology and new translations of familiar terms, and address the sensitive issue of "consolidation, German-style." The session will conclude with translation exercises focusing on accounting policies and notes disclosures in HGB financial statements.

_______________________________________________________________________

G-5 IFRS: Translation of German Consolidated Financial Statements into English
Ted R. Wozniak (90 minutes)
Language of Presentation: English


Financial statements prepared in German under International Financial Reporting Standards (IFRS) present a variety of challenges for the financial translator. This presentation will include an overview of IFRS accounting, including a short review of the standards and the standard setting system, as well as the recent changes to the IFRS and its terminology. Reporting requirements will also be discussed, focusing on the differences in accounting treatment and disclosure requirements. The German terminology used in financial statements prepared under IFRS will be reviewed using illustrative bilingual financial statements, followed by translation exercises into English. The exercises will be used in a discussion of the proper translation of terms and problem areas (e.g., "entrenched" translations, changes in the German terminology, and differences from "standard" German Commercial Code terminology). Handouts will include a glossary, suggested reference materials, and numerous online resources.

Italian Sessions
_______________________________________________________________________

I-1 A Rose is Not a Rose: Terminology Choices in Italian Financial and Legal-financial Documents
Jonathan T. Hine (90 minutes)
Language of Presentation: English


Whether translating an annual report or the verbale from an istruttoria, the translator working from Italian into English probably needs a love of puzzles and murder mysteries to navigate the trail of false cognates, regionalisms, company argot, and mots d'art that comes with each assignment. Dictionaries must be used with care, because the languages, style, and terminology used may vary depending on the financial field being discussed, the English used by the target readership, and the regional origin of the speaker or writer. Sometimes choosing the right word lies in knowing the usage of the particular American or British court hearing the case or the location of the police station where the deposition is being made. Those who have tried translating any number of Italian financial documents, court papers, and police reports are encouraged to attend. A mix of experienced and relatively new translators is desired so that a wider range of questions and answers can be accommodated. While the focus is Italian-to-English translation, many issues will be relevant to other languages including, for example, common law vs. statutory law, international finance, offshore transactions, and European Union regulations.

_______________________________________________________________________

I-2 Do You Know What You are Looking for and Where to Look?
Gaia Morandi (90 minutes)
Language of Presentation: English and Italian


In the last five years, it has become more and more evident that the Internet is the biggest "live" dictionary, reference book, and library for translators. In the world of finance, terminology is likely to change and evolve more rapidly than in other industries which is why translators often find that printed dictionaries are less useful than online glossaries.This presentation illustrates precise search tecniques for financial terminology through the use of online search engines. The question is, "Do you know what you are looking for and where to look?" The goal of this presentation is to provide a structured approach to the online search and verification of financial terminology.
______________________________________________________________________

Translating for the Asset Management Industry
Eugenio Virguti
Language of Presentation: Italian

I-3 Part I (90 minutes)
I-4 Part II (90 minutes)

Translating for the asset management industry is becoming ever more challenging. The world of finance has been undergoing dramatic changes in recent years with new and more complex financial instruments and investment products being issued on a daily basis and more sophisticated techniques being introduced to assess risks involved with financial investments. On the other hand, regulatory authorities exact more and more transparency of the asset management industry, to the benefit of investors. This entails a growing need for specialized and qualified translators for the financial industry. This presentation will provide an outline of the Italian asset management industry and will describe some of the most common asset management products, focusing on the difficulties involved. Financial terminology will be analyzed in detail and an insight into the key elements of financial instruments for the Italian market will be provided. This presentation will also include some short exercises and an analysis of the Italian financial press.

Portuguese Sessions
_______________________________________________________________________

P-1 Brazilian and U.S. Taxation
Danilo A. Nogueira (90 minutes)
Language of Presentation: English and Portuguese


This presentation will provide an analysis of the terminology used in U.S. and Brazilian income tax forms, based on a comparison of their form and structure. One of the main focal points will be an analysis of the concepts underlying the terminology, to enable participants to deal with difficulties that were not specifically discussed during the session. Participants will receive a printed bilingual glossary with over 150 terms for in-class work and a password to download the same glossary from the Internet for use in their offices. The downloaded glossary will be fully editable, which means that it can be added to terminological databases, if the participant uses CAT tools.

_______________________________________________________________________

P-2 Trust Funds, Life Insurance, and Other Wealth Protection and Estate Planning Instruments
Márcio H. Badra (90 minutes)
Language of Presentation: English and Portuguese


As Brazilian law—and thus the domestic market—does not offer suitable options for wealth management and estate planning, many global institutions are offering these products in the Brazilian market—and translating lots of marketing materials, prospectuses, and agreements. This session will focus not only on terminology but also on the legal and operational structures, enabling the participants to find their own solutions to translating materials about new products or topics not specifically covered in this session.

_______________________________________________________________________

P-3 Bankruptcy Law in Brazil and the U.S.
Danilo A. Nogueira (90 minutes)
Language of Presentation: English


The new Brazilian Bankruptcy Act lies on the President's desk, waiting to be signed into a law. New laws always involve new terminology and, usually, new problems for the translator. The purpose of this session is to show how the terminology of the new Brazilian law can help translators in translating from English. Because of the differences between the legal systems of the two countries, translations are often less accurate than we would want. This session will emphasize the effect these differences have on the precision of translations and how to deal with them. Participants will receive a printed bilingual glossary with over 150 terms for in-class work and a password to download the same glossary from the Internet for use in their offices. The downloaded glossary will be fully editable, which means that it can be added to terminological databases, if the participant uses CAT tools.

_______________________________________________________________________

P-4 Translating Mutual Funds Material into Brazilian Portuguese
Márcio H. Badra (90 minutes)
Language of Presentation: English and Portuguese


Even though being quite sophisticated for an emerging market country, the Brazilian Capital Market lacks depth and liquidity for implementing more complex investment strategies. Realizing this opportunity, many offshore investment managers are offering mutual funds with investment minimums as low as $50,000. This session will focus on the various alternatives of mutual fund investing: money market funds, fixed income funds, equity funds, hedge funds, balanced portfolios, etc.

_______________________________________________________________________

P-5 Brazilian Business Organizations
Danilo Nogueira (90 minutes)
Language of Presentation: English


The matter of Brazilian business organizations has always been complex in itself and made more so by the differences between the U.S. and Brazilian legal systems. The new Civil Code has added a new layer of difficulty. During this session, forms of Brazilian business organizations will be compared to those that exist in the U.S. and the differences between the legal systems will be analyzed.

_______________________________________________________________________

P-6 A Primer on the Brazilian Financial System
Márcio H. Badra (90 minutes)
Language of Presentation: English


Decades of hyperinflation led the Brazilian financial system to develop many payment and money management instruments that are unique to the country. This session will provide a brief history of the Brazilian financial system and show how some of these instruments were developed and how they work. Finally, instead of handing out a glossary of terms, we will discuss each of these instruments/transactions and agree on the best translations for them, creating our own glossary on the process.

_______________________________________________________________________

P-7 What Do You Call an LLP in Brazil?
Danilo A. Nogueira (90 minutes)
Language of Presentation: Portuguese


This session answers this and similar frequently-asked questions with a comparative analysis of the terminology of business organizations in the U.S. and Brazil, based on a comparison of Uniform Acts with the new Brazilian Civil Code and Business Corporation Act with reference to the terminology of the superseded Commercial Code, which is still useful in many cases. Emphasis will be on an analysis of the legal concepts underlying the terminology, to enable the participant to deal with difficulties that were not specifically discussed during the session. Participants will receive a printed bilingual glossary with over 150 terms for in-class work and a password to download the same glossary from the Internet for use in their offices. The downloaded glossary will be fully editable, which means that it can be added to terminological databases, if the participant uses CAT tools.


Spanish Sessions
_______________________________________________________________________

S-1 The Financial Action Task Force and Know Your Client Regulations
Marian S. Greenfield (90 minutes)
Language of Presentation: English


The first part of this hands-on workshop will offer an introduction and brief discussion of the Financial Action Task Force, an inter-governmental body developing and promoting policies to combat money laundering and terrorist financing, and Know Your Client regulations, the main tool regulators are using to enforce anti-money laundering legislation. The second part will provide group exercises to demonstrate the translation of various money laundering-related texts from Spanish into English.

_______________________________________________________________________

S-2 ADRs and the Translation Process
Anton S. Pujol (90 minutes)
Language of Presentation: English and Spanish


Given the globalization present in the modern economy, financial translation has become an essential and critical component of today's business world. One key manifestation of this need is in the domain of American Depository Receipts (ADRs). An ADR is equivalent to buying a stock that is traded on a non-U.S. exchange and, thus, they are negotiable U.S. securities and are traded like regular stocks in U.S. markets. ADR-based literature is becoming a fast and lucrative avenue for the professional translator. This presentation will provide a discussion and review of the basics of ADRs as well as an analysis of the different texts where specific information appears about these types of securities. It will also provide an overview of the key business disciplines—accounting, finance, business strategy, macro- and microeconomics—that are essential for helping the financial translator fully comprehend ADR issues. The purpose for the translation of ADR texts might start from different aspects including the rebalancing, diversification, or internationalization of a portfolio, or, on a bigger scale, the prospect of a merger/acquisition with a foreign company. During this workshop, four different types of ADR texts will be studied and translated, taking into account not only the reason for the translation but also the final use that the translation will play. Handouts to be distributed include a diverse array of reference sources, subject-specific glossaries, and a Spanish-English dictionary list resource guide.

_______________________________________________________________________

S-3 Translating and Interpreting for Free Trade Negotiations
Martha Edwards (90 minutes)
Language of Presentation: English


This presentation will provide an overview of four years of translating and interpreting for the United States Trade Representative through the U.S. State Department. Participants will learn about working with the fast-paced trade negotiations in the Americas, including how to handle tight deadlines, missing text, formatting headaches, equipment failure, and glossaries of all kinds. Other lessons to be learned include research techniques, working with suspicious sources and regional language variations, and the pitfalls and saving graces of Spanglish in the interpreting booth. This presentation will be highly interactive with time dedicated to questions and answers in accordance to the interests of the participants. Handouts will include formatting tips for overwriting PowerPoint presentations, useful Internet search tools, basic glossaries, and a wish list for future presentations or workshops on this subject.

_______________________________________________________________________

Gestión del riesgo e instrumentos derivados: Traducción del inglés al español
Silvana Teresa Debonis
Language of Presentation: Spanish

S-4 Part I (90 minutes)
S-5 Part II (90 minutes)

Dada la internacionalización de las empresas y la creciente volatilidad en los mercados financieros, la gestión del riesgo es cada vez más importante y necesaria. En este sentido, los derivados (opciones, contratos a plazo, futuros, swaps, etc.) constituyen instrumentos esenciales para dar cobertura a los riesgos de mercado. Prueba de ello es el aumento exponencial que ha tenido el uso de estos instrumentos tanto en el ámbito bursátil como extrabursátil. El objetivo de este taller es brindar herramientas conceptuales que permitan encarar con mayor seguridad y confianza la traducción de textos financieros relacionados con el diseño, la estructuración y contratación de instrumentos derivados. En la primera parte del taller, se presentarán los instrumentos más comúnmente utilizados, su naturaleza, función y peculiaridades. En la segunda parte se trabajará en el análisis y traducción de párrafos extraídos de diferentes documentos.
_______________________________________________________________________

S-6 Argentine Bankruptcy Legislation and Terminology
Steven M. Kahaner (90 minutes)
Language of Presentation: English


The backdrop of this presentation has its roots in the wave of corporate debt restructurings that have swept both the developed and developing world over the past few years, especially in Argentina, although many of the large corporate restructurings are now behind us. The purpose of this presentation is to highlight some of the more notable developments in this area, with an analysis of the concepts and terminology of which a translator should be familiar. Much of the discussion will center on the Argentine Ley de Concursos y Quiebras, and amendments thereto that introduced the most recent version of the Acuerdo Preventivo Extrajudicial, which has been the subject of extensive litigation, not only in Argentina, but in the U.S. as well. If time permits, there will also be a comparison to the bankruptcy laws and terminology of other Spanish-speaking countries.

_______________________________________________________________________

S-7 ¿Qué hay de nuevo en los mercados financieros? Traducción del inglés al español
Silvana Teresa Debonis (90 minutes)
Language of Presentation: Spanish


Productos estructurados, inversiones alternativas, fondos de fondos... Nuevos términos, nuevos productos, nuevas tendencias. Como sucede en otras áreas, los mercados financieros también evolucionan y los traductores financieros no podemos quedarnos atrás. El problema es que los glosarios y los libros especializados no siempre se actualizan con la misma rapidez. Este taller tiene por finalidad presentar los nuevos productos y estrategias de inversión que ofrecen las principales instituciones financieras. A partir de ejemplos prácticos, se analizarán las dificultades que se presentan al traducirlos y cómo resolverlas.

_______________________________________________________________________

S-8 Translating Balance Sheets
Anton S. Pujol (90 minutes)
Language of Presentation: English and Spanish


This presentation demonstrates the process for translating a balance sheet from English to Spanish to reveal that, when translating for a discipline as precise as accounting, the translator should go beyond the mechanics of mapping between terms. Translators must determine the appropriate equivalent constructs in the source and target languages to deliver a document that the consumer can fully comprehend. This hands-on presentation will begin by analyzing the main differences, not only between balance sheets in the two languages, but the differences within the main industries when reporting financial matters. Topics include how such financial documents function in both languages and cultures, the main differences between the two languages from conceptual and linguistic perspectives, and a comparison of translations in both directions of various accounting entries and financial statements. Attention will also be given to the changes required to facilitate the final user's full comprehension of the text at hand. Participants will translate a full balance sheet and will be provided with all the Spanish equivalents possible for different geographical (lexical) areas. Handouts will provide valuable information such as balance sheet samples, subject-specific glossaries, and a Spanish-English dictionary list resource guide.

 

Return to Top