MAROCLEAR Glossary: Key Terms in Finance and Securities Management

Current account holder at Maroclear being authorized to maintain the accounts of its customers with Maroclear. Banks and stock exchange companies.

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.