MAROCLEAR Glossary: Key Terms in Finance and Securities Management

The general meeting may be convened at the request of the company's management or a group of shareholders. It is called upon to rule on changes to capital, status and any operation likely to modify the constitution of capital or the current operations of the company.

Externally remote information system capable of taking over in the event of a major disaster on the main site.

Permanent comparison of orders entered directly by the brokerage companies in the electronic quotation book held by a central computer: this establishes a balance price, then serves the orders "as they happen", c 'that is to say as they arrive.

Expression applying to a security processed without the advertised coupon. The holder of a value processed ex-coupon cannot enjoy the rights attached to the coupon.

Refers to authorized financial intermediaries (banks and brokerage firms). Among the depositary affiliates, a distinction is made between full-time affiliates and mandated affiliates.

The Classification of Financial Instruments (CFI) code or ISO 10962 is the standard developed by the international standards organization ISO to define and describe financial instruments around the world. It can be used as a series of uniform codes by all financial market participants.

Value on which interest is calculated for a bond. It corresponds to the nominal value of the bond reduced by the fraction of the nominal value repaid for each bond of a constant amortization loan.

Fraction of the capital of a publicly owned company.

Trading and listing of a financial security at a breakeven price. This type of quotation, which is opposed to continuous quotation, is suitable for small order processing or for less liquid securities.

Financial instruments are securities or contracts, some of which are negotiable, notably on exchanges, some used exclusively to anticipate a return or a financial or monetary risk.