La banque d'un monde qui change 2004 - BNP Paribas

GlossaryDividendEONIAEUREXEURIBOR (EuropeanInterBank Offered Rate)EuroclearEuronext SAPortion of net profit that the Annual General Meeting decides to distribute toshareholders. The amount of the dividend is recommended by the Board of Directors.It represents the revenue on the share and the amount can vary from one year tothe next depending on the company's results and policy.Euro OverNight Index Average.Frankfurt-based derivatives market.The most commonly used money-market rate in the euro zone.Formerly Sicovam. Clearing house for securities transactions.Company that operates the Paris, Brussels and Amsterdam Stock Exchanges.Euronext SA establishes market rules, decides to accept or reject listing applicationsand manages all trading technologies.FCP (Fonds Commun de Placement) Fund invested in stocks, bonds and/or money-market securities. An FCP is similar toa SICAV, but is not a separate legal entity. FCPs are generally smaller than SICAVsand are easier to manage. They are subject to less restrictive regulations and canbe more specialised.Free Cash FlowFree floatGain/loss on securitiesGoodwillHedge FundsIASIFRSIFU (Imprimé Fiscal Unique)Institutional investorCash available after financing operations and investments, available to pay down debt.The amount of capital which is not under the control of stable shareholders.In other words, capital that can be freely bought and sold and is therefore available toinvestors, excluding for example shares held by the State, or shares that are subjectto shareholders’ pacts and so on. On 1 December 2003, the stocks that make up theCac 40 index became weighted according to their free floats, as opposed to theirmarket capitalisations. This change was born out of a desire to be consistent withthe major world market indexes which already function in this manner, and to ensuregreater comparability between industries and shares. BNP Paribas has a free float of 95%– one of the highest on the Paris stock market.Positive/negative difference between the sale price of a security and the purchase price.Difference between the cost of shares and the Group's equity in the fair value of theunderlying net assets.Funds that take both long and short positions, use leverage and derivatives and investin many markets.International accounting standards.International financing reporting standards.French tax return issued by a bank or broker, listing all the securities transactions carriedout on behalf of the taxpayer and all the coupon payments made to the tax payer.Financial institution which, by definition or by virtue of its articles of association,is required to hold a certain proportion of its assets in stocks and shares. Examplesinclude insurance companies and pension funds.313BNP PARIBAS - ANNUAL REPORT 2004