THRESHOLD BREACHES

The breach of threshold levels, expressed as a percentage of share capital, by investors, when acquiring or selling securities. Any investor who breaches certain threshold levels (5%, 10%, 20%, 33.33%, 50% or 66.66%) must notify the market’s supervisory authorities and the issuer.

TOTAL RETURN

The concept of total return is different to that of yield; it takes into consideration the possibility of capital gain or loss. For shares, it includes both capital gains and dividends divided by the purchase price.

TRADE or TRANSACTION

A trade is an operation of sale or purchase.

TRANSFERABLE SERCURITIES

Transferable securities are documents (titles) which represent either an equity interest in a company (ownership of a part of the company's share capital) or a financial claim (recognition of debt toward the holder of the security).

TREASURY BOND

A negotiable debt security issued by the Government through a competitive bidding process with a maturity varying from 13 weeks to 15 years. Treasury Bonds may be subscribed by resident or non-resident individual persons or legal entities.