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 Indicates
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Non-Language-Specific
Sessions
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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French
Sessions
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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.
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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.
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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.
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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.
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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.
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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.
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German
Sessions
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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.
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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.
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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.
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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.
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Italian
Sessions
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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.
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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.
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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.
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Portuguese
Sessions
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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Spanish
Sessions
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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