titoli di massa

Inglese translation: publicly held securities

VOCE DI GLOSSARIO (PRELEVATA DALLA DOMANDA QUI SOTTO)
Termine o frase Italiano:titoli di massa
Traduzione in Inglese:publicly held securities

10:11 Aug 24, 2020
    The asker opted for community grading. The question was closed on 2020-08-28 05:55:25 based on peer agreement (or, if there were too few peer comments, asker preference.)


Traduzioni da Italiano a Inglese [PRO]
Bus/Financial - Finanza (generale)
Termine o frase Italiano: titoli di massa
this appears in a list describing the typical characteristics of bonds (obbligazioni) in a guide that compares the difference between 'obbligazioni' and 'azioni' issued by a company. The phrase simply states that bonds are "titoli di massa" - I've found a number of Google hits for "mass securities" but I've never come across this term before so wanted to double check I'm not missing something.
Nicola J Vann
Italia
Local time: 10:52
publicly held securities
Spiegazione:
Borsa Italiana, in its GLOSSARIO FINANZIARIO under the term GESTIONE ACCENTRATA (https://www.borsaitaliana.it/borsa/glossario/gestione-accent... defines the term in passing in this way:

"...La gestione accentrata dei titoli di massa (ossia degli strumenti finanziari diffusi presso un numero elevato di soggetti) nasce per risolvere le problematiche connesse alle modalità di circolazione e trasferimento degli stessi sostituendo il trasferimento di proprietà mednte [sic] vera e propria consegna del certificato con un mero giro contabile."

In addition, Treccani (http://www.treccani.it/enciclopedia/titoli-atipici_(Enciclop... classifies "titoli di massa" as a type of "titoli atipici", seems to imply that they are always marketed to the general public (i.e., private offerings would not qualify as "titoli di massa"), and states that they go beyond just stocks and bonds to include such items as commercial paper (cambiali finanziarie), investment certificates, (certificati d'investimento), and real estate certificates (certificati immobiliari).

I am unable to find any place in the Codice Civile where the term is defined, and it does not even seem to be mentioned in the Testo Unico Bancario (https://www.bancaditalia.it/compiti/vigilanza/intermediari/T... The TUIR (Testo Unico delle Imposte sui Redditi, https://www.altalex.com/documents/leggi/2014/07/17/tuir-tito... does not seem to define the term, but in art. 44 it seems to use "titoli di massa" as a sub-category of "certificati di massa".
Risposta fornita da:

Mark Pleas
Giappone
Local time: 17:52
Grading comment
Thanks Mark this was really helpful and I think this is what I need in this context. As I mentioned, it's a general guide describing what bonds are - so the general answer of 'securities' would have been too vague. I also found another source to confirm y
A questa risposta sono stati assegnati 4 punti KudoZ



Riepilogo di tutte le risposte fornite
5securities
Alison Kennedy
3 +1publicly held securities
Mark Pleas
3hybrid security
Adrian MM.


Voci della discussione: 2





  

Risposte


17 min   Affidabilità: Answerer confidence 5/5
securities


Spiegazione:
This is just an alternative to "valori mobiliari", i.e. securities which can then be debt/debenture securities (bonds) or equity securities (stocks/shares).

Alison Kennedy
Italia
Local time: 10:52
Specializzato nell'area
Madrelingua: Inglese
Punti PRO nella categoria: 334
Comunicazioni a chi ha fornito la risposta
Richiedente: Thanks a lot Alison. In this case, I've gone with Mark's answer as it sheds more light on the 'di massa' concept. Thanks again for your time.

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1 ora   Affidabilità: Answerer confidence 3/5Answerer confidence 3/5
titolo di massa
hybrid security


Spiegazione:
privately issued to reflect Mark P's no-public prospectus scenario.

I don't recall this AmE term from my City of London law-firm days but certainly the cognate idea of hybrid finance.



Frase(i) esemplificative:
  • i titoli di massa (o valori mobiliari / trade investment on a bal. sheet - titoli di capitale / shares of stock o titoli di debito / loan stock - debt warrant)
  • AmE ? Hybrid securities are a broad group of securities that combine the characteristics of the two broader groups of securities, debt and equity.

    Riferimento: http://it.wikipedia.org/wiki/Titoli_di_credito
    Riferimento: http://en.wikipedia.org/wiki/Hybrid_security
Adrian MM.
Austria
Specializzato nell'area
Madrelingua: Inglese
Punti PRO nella categoria: 77
Comunicazioni a chi ha fornito la risposta
Richiedente: Thanks Adrian. I've actually gone for Mark's answer as I think it more accurately renders the 'di massa' concept in English.

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3 ore   Affidabilità: Answerer confidence 3/5Answerer confidence 3/5 approvazioni dei colleghi (rete) +1
publicly held securities


Spiegazione:
Borsa Italiana, in its GLOSSARIO FINANZIARIO under the term GESTIONE ACCENTRATA (https://www.borsaitaliana.it/borsa/glossario/gestione-accent... defines the term in passing in this way:

"...La gestione accentrata dei titoli di massa (ossia degli strumenti finanziari diffusi presso un numero elevato di soggetti) nasce per risolvere le problematiche connesse alle modalità di circolazione e trasferimento degli stessi sostituendo il trasferimento di proprietà mednte [sic] vera e propria consegna del certificato con un mero giro contabile."

In addition, Treccani (http://www.treccani.it/enciclopedia/titoli-atipici_(Enciclop... classifies "titoli di massa" as a type of "titoli atipici", seems to imply that they are always marketed to the general public (i.e., private offerings would not qualify as "titoli di massa"), and states that they go beyond just stocks and bonds to include such items as commercial paper (cambiali finanziarie), investment certificates, (certificati d'investimento), and real estate certificates (certificati immobiliari).

I am unable to find any place in the Codice Civile where the term is defined, and it does not even seem to be mentioned in the Testo Unico Bancario (https://www.bancaditalia.it/compiti/vigilanza/intermediari/T... The TUIR (Testo Unico delle Imposte sui Redditi, https://www.altalex.com/documents/leggi/2014/07/17/tuir-tito... does not seem to define the term, but in art. 44 it seems to use "titoli di massa" as a sub-category of "certificati di massa".


Mark Pleas
Giappone
Local time: 17:52
Specializzato nell'area
Madrelingua: Inglese
Punti PRO nella categoria: 12
Grading comment
Thanks Mark this was really helpful and I think this is what I need in this context. As I mentioned, it's a general guide describing what bonds are - so the general answer of 'securities' would have been too vague. I also found another source to confirm y
Comunicazioni a chi ha fornito la risposta
Richiedente: thanks again for this Mark, I think this fits the context perfectly.


Commenti dei colleghi su questa risposta (e interventi di chi ha risposto)
accordo  philgoddard: Good answer, and a good approximation.
1 ora
  -> Thanks, but it's only an approximation, since Wikipedia and some other sources do not limit "t.d.m." only to securities held by the general public. Depending on what Nicola is translating, Alison's translation might in fact be more appropriate.
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