Translator Profile: VSteinsen (vsteinsen5873)

Native language:

Icelandic

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$70 to $85/ hour^*

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Term Concepts

KudoZ Summary

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Questions

3
Answers

Top Fields of Expertise

banking

finance

financial markets

My Work

Sample Translation Banking

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Source (English)	Target (Icelandic)
There are two basic concepts in finance: time-value of money and uncertainty about expectations.	Í grunninn eru tvö meginhugtök í fjármálum: tímavirði peninga og óvissa um væntingar.
The two concepts are the core of financial valuations, including futures contracts.	Meginhugtökin eru kjarninn í fjármálamati, þar með taldir framvirkir samningar.
cost-of-carry model is the most widely accepted and used for pricing futures contract	oftast er notað stöðukostnaðarlíkanið við verðlagningu framvirkra samninga
Cost-of-carry Model	Stöðukostnaðarlíkanið
Cost-of-carry model is an arbitrage-free pricing model.	Þýðingar fyrir ofan duga sem dæmi.
Its central theme is that futures contract is so priced as to preclude arbitrage profit.	Þýðingar fyrir ofan duga sem dæmi.
In other words, investors will be indifferent to spot and futures market to execute their buying and selling of underlying asset because the prices they obtain are effectively the same.	Þýðingar fyrir ofan duga sem dæmi.
Expectations do influence the price, but they influence the spot price and, through it, the futures price.	Þýðingar fyrir ofan duga sem dæmi.
They do not directly influence the futures price.	Þýðingar fyrir ofan duga sem dæmi.
According to the cost-of-carry model, the futures price is given by Futures price(Fp) = Spot Price(Sp) + Carry Cost(Cc) - Carry Return(Cr) (1)	Þýðingar fyrir ofan duga sem dæmi.
Carry cost (CC) is the interest cost of holding the underlying asset (purchased in spot market) until the maturity of futures contract.	Þýðingar fyrir ofan duga sem dæmi.
Carry return (CR) is the income (e.g., dividend) derived from underlying asset during holding period.	Þýðingar fyrir ofan duga sem dæmi.
Thus, the futures price (F) should be equal to spot price (S) plus carry cost minus carry return.	Þýðingar fyrir ofan duga sem dæmi.
If it is otherwise, there will be arbitrage opportunities as follows	Þýðingar fyrir ofan duga sem dæmi.
When F > (S + CC - CR): Sell the (overpriced) futures contract, buy the underlying asset in spot market and carry it until the maturity of futures contract.	Þýðingar fyrir ofan duga sem dæmi.
This is called "cash-and-carry" arbitrage.	Þýðingar fyrir ofan duga sem dæmi.
When F < (S + CC - CR): Buy the (under priced) futures contract, short-sell the underlying asset in spot market and invest the proceeds of short-sale until the maturity of futures contract.	Þýðingar fyrir ofan duga sem dæmi.
This is called "reverse cash-and-carry" arbitrage.	Þýðingar fyrir ofan duga sem dæmi.

My Experience

Experience

25 yrs.

Education

1992 MA/MS at University of Iceland

Memberships

Icelandic Association of Certified Translators and Interpreters (Joined: 1989)
International Association of Conference Interpreters (Joined: 2007)

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