 CAPITAL
GAIN
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| The
positive difference between the net sale price of a security (share or
bond) and its purchase price.
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| CASABLANCA
STOCK EXCHANGE
|
| Market
regulated by the dahir providing
law N° 1-93-211 of 21 September 1993, revised and adopted by law N°34-96,
on which are traded transferable securities admitted to the Official
List.
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| CENTRAL
SECURITIES DEPOSITARY
|
| Institution responsible for custody, settlement and
administration of securities on behalf of its affiliated members (custodians).
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| CERTIFICATES
OF DEPOSIT
|
| Certificates
of deposit are negotiable securities with a fixed maturity, issued as
promissory notes as evidence of a deposit and are interest-bearing. They
can only be issued by banks and must have a fixed maturity ranging from
at least 10 days to no more than 7 years.
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| CLEARING
|
| Action consisting of offsetting buy orders and sell
orders for the same security so as to submit only the net position to
the market of the Casablanca Stock Exchange.
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| CLEARING
PRICE
|
| Price
of trade execution enabling a maximum number of buy and sell orders to
be satisfied.
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| CLOSE
|
| The
end of a trading session.
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| CLOSING
PRICE
|
| Last
price recorded for a security in a trading session.
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| CONTINUOUS
TRADING
|
| A
method of transacting different securities orders on the Casablanca
Stock Exchange on a continuous basis without interruption between 10:00
and 15:30 GMT. This method concerns securities for which trading volumes
are considerable.
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| CONVERTIBLE
BOND
|
| Instead
of being repaid in cash, the bond holder may choose to be repaid in the
company's stock.
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| CORPORATE
BOND
|
| Negotiable
debt security issued by companies.
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| COUNCIL
FOR THE CODE OF ETHICS IN SECURITIES MARKETS (CDVM)
|
| Public
institution responsible for ensuring the protection of investments in
transferable securities and proposing the necessary measures to this end.
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| COUNTERPARTY
|
| Supply
corresponding to given demand, or vice
versa.
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| COUPON
|
| Synonymous with dividends or rights for shareholders
and interest paid to the holders of bonds.
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| CUSTODIAN
or DEPOSITARY
|
| Financial intermediary responsible for administering
securities accounts.
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| CUSTOMER
GUARANTEE FUND
|
| Fund managed by the CDVM established for reimbursing
clients of brokerage firms in liquidation.
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