MAROCLEAR Glossary: Key Terms in Finance and Securities Management

Account with Maroclear in which the securities are deposited (shares, bonds, SICAV, FCP, etc.). It allows you to manage securities as well as the liquidity necessary for securities transactions.

Clearing is a mechanism allowing financial institutions, members of the clearing house, to settle the amounts due and receive the assets corresponding to the transactions they have carried out on the markets.

Compagnie Financière Tradition is one of the three world leaders in over-the-counter intermediation of financial and non-financial products. CFT operates through a wide range of products across all financial and non-financial products (precious metals, energy, paper, environment-related products). It has nearly 7,000 clients around the world, mainly banks and financial institutions.

Commission invoiced by Maroclear to account holders. It relates to the quantity of their securities holdings.

In its capacity as National Codification Agency, Maroclear assigns ISIN codes to each of the securities admitted to its operations. Once assigned, ISIN codes are obligatory used by market participants.

Refers to the transfer of securities between current securities accounts, whether this transfer is made with cash movements or not.

The clearing house is a financial organization which monitors positions and aims to eliminate counterparty risks in derivatives markets. It is the unique counterparty of all operators. It requires the formation in its books of a security deposit on the day of conclusion of a contract.

Certificates of deposit are negotiable debt securities issued exclusively by banks at a fixed or variable rate, with a return which depends on the duration of the investment and the signature quality of the issuer.

Or customer centralizer. This is generally a bank or stockbroking company of the issuer, led to manage at Maroclear, as domicile, in specific accounts opened in its name the securities and the operations relating thereto, on behalf of its clientele to which he is linked by a management mandate.

It corresponds to the total value of the shares, indicated in its statutes, that is to say the number of shares multiplied by the par value of a share.