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

• glossary

Settlement Monthly date when transactions with deferred settlement (Service de Règlement Différé) are unwound (or extended).

This date corresponds to the fifth trading day before the last trading day in the month.

Share A share is a transferable security representing a portion of the capital of a limited company or a partnership limited

by shares. Ownership of shares is evidenced by an entry in the issuer's share register (registered shares) or in

a securities account kept in the holder's name by a bank, stockbroker or other accredited intermediary (bearer

shares). Shares quoted on the stock exchange are also referred to as "equities".

SICAV (Société d’Investissement

à Capital Variable)

SICOVAM (Société

Interprofessionnelle

pour la Compensation

des Valeurs Mobilières)

SPVT (Spécialiste en Pension des

Valeurs du Trésor)

SRD

(Service de Règlement Différé)

Variable capital investment company that manages a portfolio of securities on behalfof its shareholders. Shares may

be purchased or redeemed at any time. The shares are not listed but their value (corresponding to the company's net

asset value per share) varies each day based on changes in the value of the securities held in the portfolio.

Now renamed Euroclear France. Organisation responsible for clearing securities trades, centralising all stock

market transactions and facilitating the transfer of securities between member institutions.

Primary dealer in French government bond repos.

French market where the main French and foreign equities are traded. Equities or bonds purchased with deferred

settlement are purchased on credit. The buyer is required to settle the purchase price and the seller is required to

deliver the securities on the next settlement date, unless one or other of the parties asks for the transaction to be

carried over to the next settlement date (report).

Subscription right Right to participate in a share issue for cash.

228

GLOSSARY

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