MAROCLEAR Glossary: Key Terms in Finance and Securities Management

International association which brings together member national coding agencies around the world.

Association which aims to facilitate communication between central depositories in African and Middle Eastern countries.

Any affiliate authorizing another affiliate to manage, in their place, the current accounts opened in their name. When the affiliate under mandate is an authorized financial intermediary, his agent can only be an authorized financial intermediary himself. Any appointment of agent must be approved in advance by the Central Depositary.

Any institution issuing securities that has opened a current securities account with the Central Depositary.

Simply means becoming affiliated with Maroclear and, therefore, being admitted to its various operations.

Property title representing part of the capital of the company that issues it. The share can pay a dividend and gives voting rights to its owner. It can be listed on a stock exchange, but not necessarily.

Support for a securities transaction in the reference price of a stock. CR = closing price of the previous day – the amount of the dividend.

Open for the benefit of securities centralizing establishments whose issue amount is likely to vary regularly, it temporarily takes into account variations in the number of securities issued, and is purged periodically when the "Issue" account is updated. ", managed by Maroclear.

Account which contains the reproduction of the entries appearing on the account of the holders of registered securities held by the issuing legal entity. These same holders can obtain its creation from an authorized financial intermediary to facilitate the negotiation and management of their securities portfolios.

Correspond to the creation at the level of Maroclear of "Emission" and "Caisse nominative" accounts plus their movement at the time of dematerialization of a company’s securities.