Banken for en verden i endring The bank for a ... - BNP Paribas

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Banken for en verden i endring The bank for a ... - BNP Paribas

• glossaire

EUA European Union Emission Allowance. Authorisation to emit greenhouse gas granted to entities participating in the

European system for trading emissions rights.

EUREX A derivatives market.

EURIBOR (European InterBank

Offered Rate)

The most commonly used money-market rate in the eurozone.

Euroclear Formerly Sicovam. Clearing house for securities transactions.

Euronext SA Company that operates the Paris, Brussels and Amsterdam Stock Exchanges. Euronext SA establishes market

rules, decides to accept or reject listing applications and manages all trading technologies.

FCP (Fonds Commun de Placement) Fund invested in stocks, bonds and/or money-market securities. A FCP is similar to a SICAV, but is not a separate

legal entity. FCPs are generally smaller than SICAVs and are easier to manage. They are subject to less restrictive

regulations and can be more specialised.

Forwards A forward agreement is a financial derivative. It is an agreement to buy or sell an asset at a price and a future

date specified in the agreement. Forwards are privately negotiated over-the-counter, between banks and financial

institutions, or through them, in contrast to futures agreements which are executed through organised markets.

FRB French Retail Banking.

Free cash flow Cash available after financing operations and investments, available to pay down debt.

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GLOSSARY

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