MAROCLEAR Glossary: Key Terms in Finance and Securities Management

Permanent function, independent of operational units, which ensures that the structure and accounting organization of the account keeper comply with the provisions provided for by the reference texts and in particular by the general regulations and instructions of Maroclear.

Maroclear centralizes the conservation of the integrity of the securities entrusted to it. A securities accounting plan defining the rules for the conservation and circulation of transferable securities is required by both Maroclear and its affiliates, in order to provide maximum tightness and security to scriptural conservation.

Code assigned by Maroclear to each financial instrument (share, bond, UCITS, etc.) to identify it. These codes are mandatory for use by affiliates.

Procedure by which a third party provides written assurance that a product, process or service conforms to the requirements specified in a standard.

This is the legal persons issuing securities, the legal persons offering public savings.

Refers to any legal entity that issues securities.

International identification number assigned to each value. The ISIN code is a twelve-character international alphanumeric code assigned to each security, the first two letters of which identify the country in which the security was issued (for example, MA for Morocco). This is the code used by Maroclear to identify values.

Legal entities that regularly invest part of the funds raised on the financial markets. These include insurance companies, pension funds, mutual funds and the CDG.

He assumes responsibility for the identity and legal capacity of the client as well as for the regularity of the transaction, at/ in the place and location of the issuing legal entity.

Income from an investment in debt securities. Interest is paid on a regular basis, fixed in advance and known at the time of issue. Rates can be fixed or variable.