MAROCLEAR Glossary: Key Terms in Finance and Securities Management

Coupon which has an optional obligation, can be negotiated separately, and which gives the holder the right to purchase securities or commodities during a predetermined period and at a predetermined price.

Income received by the holder of a bond, corresponding to the interest paid by the issuer. This is the equivalent of dividends for a share.

Quote which is established as and when offers and requests for the product in question arise throughout the session. With each new request, we adjust the value of the title. We say that the quotation is done continuously or "as it happens".

Refers to the exchange of securities for other securities between custodian account holders.

The contracts are irrevocable flows between stockbroking companies which are transmitted in J by the Casablanca Stock Exchange to Maroclear as soon as the negotiations end. Each contract must be covered by a transaction notice.

Account used to record the custody of the assets of custodian account holders with central depositories or, in the case of custodian account holders under mandate, simply with their agents.

Account managing allocations relating to various securities transactions.

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.