MAROCLEAR Glossary: Key Terms in Finance and Securities Management

Collective nominative reference slip indicating the names of the holders to be included in the absorbing value.

This is the closing price of the previous session. The reference price makes it possible to set the maximum and minimum trading thresholds for the day.

Control of transactions to be completed as soon as they are transmitted to the system in relation to the data entered in the Maroclear repository, relating to values, affiliates, accounting authorizations, etc.

Is determined at the time of acquisition. This is the estimated value that the acquisition should have at the end of the amortization period.

In this channel, negotiations are matched and settled on the day of the transaction, unless the parties to the negotiation decide otherwise. The matched instructions generate irrevocable flows of settled on the same day.

Refers to the effective registration of the dematerialized securities on behalf of their owner with the issuer or financial intermediary at the time of admission to operations by Maroclear.

These are bonds that, at maturity, will be obligatorily repaid by the allocation of shares of the issuing company, according to a parity defined at issue.

The operations of REPO (or Repo’s?) correspond to a pension delivered by contract. Two parties agree on a firm sale with a commitment to buy back at a specified date stipulated in the contract.

Removal of a security from the rating.

The shareholders holding these registered securities are directly entered in the accounts kept by the company.