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en
ISO 10962 Classification of financial instruments. Codes are enlarged with US ones.
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Further grouping
Shows further grouping in Attribute 1.
The attribute is used here as a sub-group of the group-code enclosed in the second position of the CFI-code.
The formal representation of ownership interest of a company or similar entity.
Depending on the company act and the legislation of the country of
incorporation this ownership shall give right to:
- participation in the benefits
- voting rights
- part of the assets, normally valued in currency, in case of
liquidation of the company
Group equity
Type of interest
The calculation method of the interest on debt- and similar instruments.
Option underlying asset
The type of underlying assets of options.
Indicates the possible sponsoring for depositary receipts
A sponsor is some-one who patronizes a third party.
When one patronizes a third party, he takes reponsibility in one or another way for the third party.
Sponsoring
Attribute 3
Corresponds to the 5th position of the CFI-code and covers different attributes according to the linked CFI-group of instruments.
Distinguishes the exercice date or period, the maturity date and other characteristics of an option.
Type of scheme
Group package unit
Combination package of different financial instruments.
Future delivery
How the underlying assets of futures should be delivered.
Right type
The type of right.
Group of common shares and limited partnership units
Normal ownership rights of a company or a limited partnership.
The right, during a limited period, to a payment or attribution which
can be optionnal or mandatory and subject to conditions or
unconditionnal.
Group entitlement / right
Guarantee
The type of guarantee linked to debt and similar instruments.
Group of preferred shares
Shares which entitle to a preferred treatment of the holders against common shareholders in het field of:
- attribution of dividends
- rights in case the company is put into liquidation
- voting rights
ISO 10962 - Classification of Financial Instruments
ISO 10962 extended by the US codes is used.
Financial instruments are restricted to securities in the context of the ISO-norm
The code contains 6 positions:
1st position is the category code of the financial instrument
2nd position is the groiup code
3rd position is the first attribute
4th position is the second attribute
5th position is the third attribute
6th position is the fourth attribute
Group of mutual and similar funds.
Group of funds
Attribute 4 none
There is no value for the 4th attribute.
Call or put
Whether the option is a call or a put.
Indicates whether the sharecapital of a mutual fund is open or closed to new investors after the startup of the fund.
Closed or open end fund
Group of depositary receipts
Receipt issued by a depositary bank against receipt of shares.
Group mortgage backed security
Also called a Mortgage-Backed Security (MBS).
Is a formal promise to repay a debt with as collateral a pool of
mortgages.
The underlying mortgages can be payed back in advance or curtailed.
The monthly payments are variable.
Future commodity underlying asset
Shows the assets which are underlying to a commodity future.
What kind of ownership on the security is allowed.
Ownership
Attribute 2
Corresponds to the 4th position of the CFI-code and covers different attributes according to the linked CFI-group of instruments.
There is no value for the third attribute available.
Attribute 3 none
The term in relation to referential financial instruments.
Term
There is no specific value for the first attribbute
Attribute 1 none
What is the right of preferred shares on the income of the company.
Income
Group asset backed debt
Structured financial product representing debts collateralized by assets
such as student-loan, credit-card, auto-loan receivables or other
personnal assets with exception of real estate.
Group treasury debt
A formal promise, issued by the Treaury department, to pay back a
stipulated amount, after a longer period of time (10 years or more).
Future standardized
Whether the future is standardized or not.
Shows the assets which are underlying to a financial future.
Future financial underlying asset
The repayment of hybrid or structured products.
Repayment at maturity
Group debt instrument
A formal promise to repay a debt and eventually interests.
How the debts will be reimbursed.
Redemption
Payment status
What is the payment status of the shares by the shareholders.
The right to execute a sale of financial products, commodities or
services at a defined price on a defined date
Group future
Attribute 1
Corresponds to the 3rd position of the CFI-code and covers different attributes according to the linked CFI-group of instruments.
Attribute1
Corresponds to the 1st position of the CFI-code and shows the category of security.
Category
Standardized
Whether the options are standardized or not.
Structured products income distribution
The fiscal nature of income of hybrid or structured instruments.
Common underlying asset
The underlying assets for the category Other.
Possible underlying assets for hybrid or strutured products.
Structured or hybrid instrument underlying asset
Voting right
Shows the extend of the rights to vote for shareholders.
Group
Corresponds to the 2nd position of the CFI-code and shows the group within the category to which the security belongs.
Group other / miscellenaous
Other financial instruments.
Distribution
The distribution of benefits of funds.
Classification code
The codes in 6 positions corresponding to the category, group and attribute values.
Form
The forms of financial instruments.
There is no value available but none for the attribute.
Attribute 2 none
The preference type for preferred shares.
Preferred type
Shows other underlying assets for special securities.
Other asset
The delivery term of the option.
Delivery
Assets in fund
Assets in fund
The assets in which the fund invests.
Group option
The right to buy or sell a stock, an index valued in currency or other
asset, at a specified price within a predefined period.
Corresponds to the 6th position of the CFI-code and covers different attributes according to the linked CFI-group of instruments.
Attribute 4
Group municipal debt
A formal promise to repay a debt issued by a US state or local government
agency. The bond is often exempt from federal and state income tax
has term
belongs to the municipal debt group
has option sheme type
has redemption method
is underlying asset for category other
has underlying asset for options
has as fund assets
has guarantee
assigned to category
has form
belongs to preferred shares group
has ownership restriction
is closed or open end fund
has missing attribute 3
belongs to the package unit group
has as sponsoring
is call or put
belongs to the mortgage backed security group
belongs to the option group
belongs to the treasury debt group
has voting right
has income type
has standardization
belongs to fund group
has missing attribute 4
is right of type
has standardization method for futures
has delivery method for futures
has as financial underlying asset for futures
has as further grouping
has repayment method at maturity
belongs to debt instrument group
has delivery form
has as miscellenaous underlying assets
belongs to asset backed debt group
belongs to the miscellenaous group
belongs to entitlement group
has as underlying asset for structured products
has payment status
has missing attribute 1
has income distribution type
belongs to group of common shares
belongs to depositary receipt group
has income distribution for structured products
has missing attribute 2
has as commodity underlying asset for futures
belongs to the future group
has preference
has as interest type
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A <b>Medium Term Note</b> (MTN) is a debt note that usually
matures (is paid back) in 5-10 years, but the term may be as
short as one year. They're normally issued on a floating
basis such as Euribor +/- basis points. When they are issued
in euro they are "Euro Medium Term Notes".
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T-Medium term note
T-Medium term note
A bond which can be converted into shares of the issuer during a pre-defined period of time.
C-Convertible bond
C-Convertible bond
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A <b>syndicated loan</b> (or "syndicated bank facility") is
a large <a title=""loan" vertalen" href="bword://!!ARV6FUJ2JP,loan/">loan</a> in
which a group of banks work together to provide funds for a
borrower. There is usually one lead bank (the "Arranger" or
"Agent") that takes a percentage of the loan and <a title=""syndicate" vertalen" href="bword://!!ARV6FUJ2JP,syndicate/">syndicates</a> the
rest to other banks. A <b>syndicated loan</b> is the
opposite of a <b>bilateral loan</b>, which only involves one <a title=""borrower" vertalen" href="bword://!!ARV6FUJ2JP,borrower/">borrower</a> and
one <a title=""lender" vertalen" href="bword://!!ARV6FUJ2JP,lender/">lender</a> (often
a <a title=""bank" vertalen" href="bword://!!ARV6FUJ2JP,bank/">bank</a> or <a title=""financial%20institution" vertalen" href="bword://!!ARV6FUJ2JP,financial%20institution/">financial
institution</a>.) A syndicated loan is a much larger and
more complicated version of a participation loan. There are
typically more than 2 banks involved in a syndication.
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L-Syndicated loan
L-Syndicated loan
K-Bankers acceptance
K-Bankers acceptance
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A <b>bankers' acceptance</b>, or <b>BA</b>, is a time <a title=""Cheque" vertalen" href="bword://!!ARV6FUJ2JP,Cheque/">draft</a> drawn
on and accepted by a <a title=""bank" vertalen" href="bword://!!ARV6FUJ2JP,bank/">bank</a>.
Before acceptance, the draft is not an obligation of the
bank; it is merely an order by the drawer to the bank to pay
a specified sum of money on a specified date to a named
person or to the bearer of the draft. Upon acceptance, which
occurs when an authorized bank accepts and signs it, the
draft becomes a primary and unconditional liability of the
bank. If the bank is well known and enjoys a good
reputation, the accepted draft may be readily sold in an
active <a title=""Financial%20market" vertalen" href="bword://!!ARV6FUJ2JP,Financial%20market/">market</a>.
A bankers acceptance is also a <a title=""money%20market" vertalen" href="bword://!!ARV6FUJ2JP,money%20market/">money
market</a> instrument – a short-term discount instrument
that usually arises in the course of  <a title=""international%20trade" vertalen" href="bword://!!ARV6FUJ2JP,international%20trade/">international
trade</a>.
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Repurchase agreement.
A sale at the agreement date hold the obligation for the seller to repurchase the security at a specified later date against a specified price.
R-REPOs
R-REPOs
B-Bond
B-Bond
A financial instrument proving the receivable of a principal sum and eventually periodic interest payments.
D-Debenture
D-Debenture
A formal promesse to pay.
Short-term promissory notes with a reimbusement time of less than 270 days
E-Commercial paper
E-Commercial paper
Bond with the warrant still attached, meaning that the time to allow to subscribe to the shares is not yet reached.
W-Bond with warrant
W-Bond with warrant
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Certificate of Deposit
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<div class="definition">
A negotiable instrument issued by a bank and payable to the
bearer. CDs pay a stated amount of interest and mature on a
stated date, but may be bought and sold daily in a secondary
market.
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Copyright © 2005 UNODC - <a href="http://www.unodc.org/unodc/en/money_laundering.html">United
Nations Office on Drugs and Crime</a>.
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S-Certificate of deposit
S-Certificate of deposit
A written debt instrument with an amount and evenrtually interest to be paid generally on terms between 1 and 10 years.
N-Note
N-Note
M-Debt others
M-Debt others
Treasury bills, market paper,..;
Y-Money market instrument
Y-Money market instrument
The issuer is in the process of refunding the loan.
E-Refunding
E-Refunding
Standardized option.
S-Standardized
S-Standardized
Non standardized option.
N-Non standardized
N-Non standardized
Attribute 3 is not relevant for the group.
X-No attribute 3
X-No attribute 3
R-Other referential instrument
Financial instrument whose value is derived from another financial
instrument.
R-Other referential instrument
The issuer refunds the debt following a predefined amortization plan.
A-Amortization plan
A-Amortization plan
There is no maturity date.
P-Perpetual
P-Perpetual
T-Treasury debt
T-Treasury debt
A formal promise, issued by the Treaury department, to pay back a
stipulated amount, after a longer period of time (10 years or more).
Less than 1 vote for each share.
S-Sub voting
S-Sub voting
N-Non voting rights
N-Non voting rights
No voting rights for the shares.
Normal right to vote: 1 share = 1 vote.
V-Voting rights
V-Voting rights
Enhanced rights for the share: more than 1 vote for each share.
E-Enhanced vote
E-Enhanced vote
R-Restricted vote
R-Restricted vote
Restriction on the subjects of a vote for the shares
The fund's assets consists of real estate.
R-Real estate
R-Real estate
The fund's assets are formed by a general mixture of assets.
M-Mixed general
M-Mixed general
The fund's assets consists of derivatives.
D-Derivatives
D-Derivatives
S-Securities
S-Securities
The fund's assets consists of equity securities.
The fund's assets consists of real estate.
C-Commodities
C-Commodities
F-Fixed income
F-Fixed income
The fund's assets consists of fixed revenue assets.
B-Mortgage backed debt
B-Mortgage backed debt
Also called a Mortgage-Backed Security (MBS).
Is a formal promise to repay a debt with as collateral a pool of
mortgages.
The underlying mortgages can be payed back in advance or curtailed.
The monthly payments are variable.
H-Other hybrid or structured
H-Other hybrid or structured
<h3 class="western">
Wikipedia English - The Free Encyclopedia
</h3>
<p style="margin-bottom: 0cm">
Structured products are synthetic investment instruments specially
created to meet specific needs that cannot be met from the standardized
financial instruments available in the markets. Structured products can
be used: as an alternative to a direct investment; as part of the asset
allocation process to reduce risk exposure of a portfolio; or to utilize
the current market trend.
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U-Unit investment trusts
U-Unit investment trus
A regulated investment company consisting of professional managers who
issue redeemable securities representing a portfolio of many different
securities; "you can invest in a unit investment trust for as little as
$1000"
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<b><span id="BABID_CPName">Bond Professor's Glossary</span>
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Unit Investment Trust (UIT)
</div>
<div class="definition">
A trust that is registered with the Securities and Exchange
Commission (SEC) that purchases and packages a fixed portfolio
of bonds. The "units" representing a fractional, undivided
interest in the trust are then sold to investors, and the
investor receives periodic interest and, upon maturity of the
individual bonds, the redemption value. Unit Investment Trusts
are not actively managed, as is a mutual fund.
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<b><span id="BABID_CPName">Campbell R. Harvey's Hypertextual
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Unit investment trust
</div>
<div class="definition">
Money invested in a <a title=""portfolio" vertalen" href="bword://!!VKSMTXN9NA,portfolio/">portfolio</a> whose
composition is fixed for the life of the fund. <a title=""Shares" vertalen" href="bword://!!VKSMTXN9NA,Shares/">Shares</a> in
a unit trust are called <a title=""redeemable" vertalen" href="bword://!!VKSMTXN9NA,redeemable/">redeemable</a> trust
certificates, and they are sold at a <a title=""premium" vertalen" href="bword://!!VKSMTXN9NA,premium/">premium</a> to <a title=""net asset value" vertalen" href="bword://!!VKSMTXN9NA,net asset value/">net
asset value</a>.
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<br>
Copyright © 2000, <a href="http://www.duke.edu/~charvey">Campbell
R. Harvey</a><a>. All Rights Reserved.</a>
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<div>
A <b>Unit Investment Trust</b> (UIT) is a US investment
company offering a fixed (unmanaged) <a title=""portfolio%20%28finance%29" vertalen" href="bword://!!ARV6FUJ2JP,portfolio%20%28finance%29/">portfolio</a> of <a title=""security%20%28finance%29" vertalen" href="bword://!!ARV6FUJ2JP,security%20%28finance%29/">securities</a> having
a definite life. UITs are assembled by a sponsor and sold
through <a title=""stock%20broker" vertalen" href="bword://!!ARV6FUJ2JP,stock%20broker/">brokers</a> to <a title=""investor" vertalen" href="bword://!!ARV6FUJ2JP,investor/">investors</a>.
</div>
<div>
<p>
A UIT portfolio may contain one of several different types
of securities. The two main types are <a title=""stock" vertalen" href="bword://!!ARV6FUJ2JP,stock/">stock</a> (equity)
trusts and <a title=""Bond%20%28finance%29" vertalen" href="bword://!!ARV6FUJ2JP,Bond%20%28finance%29/">bond</a> (<a title=""fixed%20income" vertalen" href="bword://!!ARV6FUJ2JP,fixed%20income/">fixed
income</a>) trusts.
</p>
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<p>
Unlike a <a title=""mutual%20fund" vertalen" href="bword://!!ARV6FUJ2JP,mutual%20fund/">mutual
fund</a>, a UIT is created for a specific length of time
and is a fixed portfolio, meaning that the UIT’s
securities will not be sold or new ones bought, except in
certain limited situations (for instance, when a company
is filing for <a title=""bankruptcy" vertalen" href="bword://!!ARV6FUJ2JP,bankruptcy/">bankruptcy</a> or
the sale is required due to a <a title=""mergers%20and%20acquisitions" vertalen" href="bword://!!ARV6FUJ2JP,mergers%20and%20acquisitions/">merger</a>).
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<div class="term">
Unit Investment Trust
</div>
<div class="definition">
A company that purchases securities (usually fixed income) and
sells shares representing proportional interest in the portfolio
of those securities. The trust is liquidated when the securities
mature.
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Courtesy of the <a href="http://www.lectlaw.com/def.htm">'Lectric
Law Library</a>.
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M-Money market funds
M-Money market funds
Funds investing in money market instruments.
K-Exchange traded funds
K-Exchange traded securities
Mutual funds traded on the exchange markets.
R-Restricted
R-Restricted
The transfer of ownership is subject to restrictions.
These restrictions are issued by the SEC (Securities and exchange commisssion) in different regulations.
U-Unrestricted
U-Unrestricted
There are no restrictions in the transfer of ownership.
G-Fixed maturity with call
G-Fixed maturity with call
The loan is refundable at maturity date as a one time payment.
The issuer has on top of that the right to call upon the bonds for global reïmbursement at predefined periods before maturity date.
C-Pre-Refunding
C-Pre-refunding
The issuer is in the process of refunding the loan before maturity date.
B-Shares and bonds
B-Shares and bonds
T-Shares and bonds and warrants
T-Shares and bonds and warrants
P-Shares and preferred
P-Shares and preferred
M-Others
M-Others
N-Warrants and bonds
N-Warrants and bonds
R-Shares and rights
R-Shares and rights
W-Shares and warrants
W-Shares and warrants
A-Asset backed debt
A-Asset backed debt
Structured financial product representing debts collateralized by assets
such as student-loan, credit-card, auto-loan receivables or other
personnal assets with exception of real estate.
N-Principal payment
N-Principal payment
There are no interest payments.
The bonds are issued below par
At maturity date the facial value is refunded. The difference issue value and reïmbursement value is the revenue of the bond.
The CMO is a separate entity of the mortgage debt financial institution.
The CMO is holder of a pool of morgage debts.
The CMO issues debt certificates, bonds, on his turn with the mortgages as collateral.
The bonds are called classes or tranches.
The distribution of the collaterals over the bonds is called the structure.
The whole of the setup is called the deal.
O-Collateral mortgage obligation
O-Collateral mortgage obligation
Real estate mortgage investment conduits issues mortgage backed certificates or bonds.
The collaterals are residential or commercial mortgages.
The benefits are lying is the TaxRreform Act on a fiscal plan.
T-Remic
T-REMIC
Whole loans are normally larger in size than accepted following the standards. Several whole loans can be grouped as collateral for a Collateral Mortgage Obligation.
The CMO is a separate entity of the mortgage debt financial institution. The CMO is holder of a pool of morgage debts. The CMO issues debt certificates, bonds, on his turn with the mortgages as collateral. The bonds are called classes or tranches. The distribution of the collaterals over the bonds is called the structure. The whole of the setup is called the deal.
W-Whole loan
W-Whole loan
Stripped mortgage backed securities are issued by institutions which redistribute the cash generated by their pool of mortgage backed securities into a principal part and an interest part separately.
S-SMBS_Strips
S-SMBS strips
Also called Commercial Moirtgage Backed Securities (CBMS).
Promise to pay back an amount with commercial real estate mortages as
collateral rather than residential real estates.
The prepayment risk is lesseer than with MBS-bonds.
C-Commercial mortgage backed
C-Commercial mortgage backed
A security backed by a pool of residential mortgage debts.
The payments of principal and interests is passed to the holders of the financial instruments.
Formerly Ginnie Mae and Freddie Mac agencies notably issued these certificates.
P-Mortgage pass thru CTF
P-Mortgage pass thru certificate
U-Package unit
U-Package unit
Combination of several financial instruments.
O-EDR-European depositary receipt
O-EDR-European depositary receipts
Depositary receipts from non-US banks of equities.
Allows trade on the local markets of those receipts.
D-IDR-International depositary receipt
D-IDR-international depositary receipts
A-ADR-American depositary receipts
American depositary receipts.
Depositary receipts of depositary banks in the US.
A-ADR-American depositary receipts
H-NYRegistry share
H-NY registry share
New York registry share. <br>What Unilever says:
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<h2>
Can you explain the difference between Unilever NV ordinary
shares (or depositary receipts thereof) in the Netherlands & the
New York registry shares?
</h2>
<p>
Practically there is no difference. A New York registry share is
a share of Unilever NV's New York registry, representing equity
ownership in Unilever NV, allowing for a part of the capital of
Unilever NV to be outstanding in the US and part in the home
market. New York registry shares are issued by a US transfer
agent and registrar (Citibank, N.A.) on behalf of Unilever NV
and created against the cancellation of the local share by the
local registrar. One New York registry share is the equivalent
of one Unilever NV ordinary share (or depositary receipt
thereof). The dividends on the New York registry shares are paid
in USD.
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G-GDR-Global depositary receipts
G-GDR-global depositary receipts
These depositary receipts are issued by a depositary bank to issue or trade paper on 2 markets simultaneously.
Fiscal nature dividend as income for structured products.
D-Dividend
D-Dividend
Fiscal nature interest as income for structured products.
I-Interest
I-Interest
No fiscal nature as income for structured products.
N-None
N-None
Other than regular options.
M-Other option
M-Other option
C-Covered warrant
C-Covered warrant
Covered warrants are traded on the same markets as the linked equity which they give the right to buy. Retail investors are more confident in buying and selling them.
Warrant issued together with a bond. The issuer of the bond joins the right to acquire shares in his company during a certain predefined period.
T-Traditional warrant
T-Traditional warrant
The assets traded are amounts coupled to stock indices.
I-Referential instrument indices
I-Referential instrument indices
C-Referential instrument currency
C-Referential instrument currency
The assets traded are foreign currencies.
The assets traded are rights to borrow at a specified interest rate.
R-Referential instrument interest rates
R-Referential instrument interest rates
T-Referential instrument commodity
T-Referential instrument commodity
The assets traded are commodities.
The interest is paid by other means than currencies.
P-Payment in kind
P-Payment in kind
At issue of the loan, the interest of the loan is prepaid by means of an issue premium.
Z-Zero discount
Z-Zero discount
The interest rate is fixed during a certain period, adjustable during a next period of the loan term.
T-Fixed to float
T-Fixed to float
The interest rate varies during the term of the loan according to the specifications of the prospectus
V-Variable
V-Variable
The interest rate is periodically indexed according to the inflation rate.
H-Inflation indexed
H-Inflation indexed
The interest rate is periodically increased during the term of the loan.
I-Increasing rate
I-Increasing rate
The interest is linked to the quality rating of the issuer.
R-Interest ratings linked
R-Interest ratings linked
The interest rate is fixed during the term of the loan.
F-Fixed rate
F-Fixed rate
The interest rate is periodically adjustable to market conditions. Synonym with variable rate.
G-Floating
G-Floating
The interest rate is decreased by steps during the term of the loan.
D-Step-Down
D-Step-Down
At issue of the loan, the interest covering part of the loan term is prepaid by means of an issue premium, from a certain moment on, fixed interest will be paid on the facial value of the bond.
X-Zero then fixed_DEFD
X-Zero then fixed_DEFD
The interest rate is increased by steps during the term of the loan.
U-Step-Up
U-Step-Up
C-Commodities future
A future with commodities as underlying assets
C-Commodities future
Other than regular rights
M-Other right
M-Miscellaneous rights
A formal promise to repay a debt and eventually interests.>
D-Debt instrument
D-Debt instrument
There is no maturity date for the structured product.
P-Structured product repayment perpetual
P-Structured product repayment perpetual
The structured product is reimbursed according to a formula.
A-According to formula
A-According to formula
The structured product is reimbursed at maturity date.
F-Fixed
F-Fixed
M-Manufactured housing
M-Manufactured housing
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<b>Manufactured housing</b> (also known as <b><a title=""prefab" vertalen" href="bword://!!ARV6FUJ2JP,prefab/">prefab</a> housing</b>)
is a type of <a title=""house" vertalen" href="bword://!!ARV6FUJ2JP,house/">housing
unit</a> that is largely assembled in <a title=""factory" vertalen" href="bword://!!ARV6FUJ2JP,factory/">factories</a> and
then transported to sites of use.
</div>
<div>
<p>
In the <a title=""United%20States" vertalen" href="bword://!!ARV6FUJ2JP,United%20States/">United
States</a>, the term "manufactured home" specifically
refers to a house built entirely in a protected
environment under a federal code set by the <a title=""US%20Department%20of%20Housing%20and%20Urban%20Development" vertalen" href="bword://!!ARV6FUJ2JP,US%20Department%20of%20Housing%20and%20Urban%20Development/">US
Department of Housing and Urban Development</a> (HUD). The
term "<a title=""mobile%20home" vertalen" href="bword://!!ARV6FUJ2JP,mobile%20home/">mobile
home</a>" describes factory-built homes produced prior to
the 1976 HUD Code enactment.<a title="Bladeren naar: "http://www.palmharbor.com/our-construction/mfg-or-mod-construction/manufactured-construction/"" href="http://www.palmharbor.com/our-construction/mfg-or-mod-construction/manufactured-construction/"><span class="TabStopNorm">[1]</span></a>
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and is licensed under the <a href="http://en.wikipedia.org/wiki/Wikipedia:Text_of_the_GNU_Free_Documentation_License">GNU
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Camper, caravan or RV.
R-Recreational vehicles
R-Recreational vehicles
C-CBO_CDO_CFO_CLO
The credit risk is differentiated amongst subsequent tranches.
The senior tranche could get a AAA rating, the mezzanine tranches get a lesser
rating, the stock tranches don' t get one eventually.
CBO: collateralized bond obligations
CDO: collateralized debt obligations
CLO: collateralized loan obligations
C-CBO CDO CFO CLO
V-Credit card receivable
V-Credit card receivable
Loan backed by a credit card receivable.
A-Automobile loan
A-Automobile loan
Automobile as collateral for a debt instrument
H-Home equity loan
H-Home equity loan
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<div>
A <b>home equity loan</b> (sometimes abbreviated <b>HEL</b>)
is a type of <a title=""loan" vertalen" href="bword://!!ARV6FUJ2JP,loan/">loan</a> in
which the borrower uses the <a title=""Home%20equity" vertalen" href="bword://!!ARV6FUJ2JP,Home%20equity/">equity</a> in
their home as <a title=""collateral%20%28finance%29" vertalen" href="bword://!!ARV6FUJ2JP,collateral%20%28finance%29/">collateral</a>.
These loans are sometimes useful to help finance major home
repairs, medical bills or college education. A home equity
loan creates a <a title=""lien" vertalen" href="bword://!!ARV6FUJ2JP,lien/">lien</a> against
the borrower's house, and reduces actual home equity.
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S-Student loan
S-Student loan
Loan to overcome the period of studies.
C-Call
C-Call
The right to buy the underlying value.
P-Put
P-Put
The right to sell the underlying value.
O-Open end
O-Open end
The sharecapital is open and unfixed.
These parts are normally not traded on the exchanges, they can be purchased directly from the from the company.You have to negatiate them with the emittor. The price will be near the intrinsic value + step in costs (or less step out costs).
Synonyms with mutual funds (US), SICAVs (continental Europe), unit trusts (or OEIC's Open Ended Investment Companies) in the UK.
C-Closed end
C-Closed end
The sharecapital of the fund is fixed and closed. The shares can normally be traded on the stock exchange.
The value of the shares is the result of offer/demand ratios.
Synonyms: The fund is called closed-end companies in the US.
H-Exchangeable
H-Exchangeable
The reïmbursement is optionally done by exchanging the bonds with stock from a third company.
The difference with the convertible bond is that the company is a third one, not the issuer, and the option is with the issuer.
The right to buy or sell a stock, an index valued in currency or other
asset, at a specified price within a predefined period.
O-Option
O-Option
Options which can only be exercised during a certain period of their life. (source FEF)
B-Bermuda
B-Bermuda
E-European
E-European
The exercise of the option is only possible a few days before expiration date.
The exercese of the option is possible from purchase date till expiration date.
A-American
A-American
B-Amoritzation with call
B-Amortization with call
The issuer refunds the debt following a predefined amortization plan.
The issuer has the option to call the bonds for reïmbursement at specified periods during the term of the loan.
Industrial products as underlying assets for commodity futures.
Examples of industrial metals: aluminium, copper, lead, zinc, tin, aluminium, nickel, recycled steel.
Other examples: ethanol, rubber, palm oil, wool, polypropylene, polyethylene.
I-Industrial products
I-Industrial products
Services as underlying asset for commodity futures.
Example delivery of electricity.
S-Services
S-Services
Extraction resources as underlying assets for a commodity future.
Examples of energy extraction resources: Crude oil, natural gas, propane, uranium.
Examples of precious metals: gold, silver, platinum, palladium.
Examples of rare metals: Cadmium Cobalt Chromium Germanium Magnesium Manganese Molybdenum Rhodium Selenium Silicon Titanium Tungsten Vanadium Wolframite
E-Extraction resources
E-Extraction resources
A-Agriculture and forestry
A-Agriculture and forestry
Agriculture and forestry underlying assets for a commodity future.
Agricultural examples: soybeans, rice, potatoes, oats, cocoa, coffee, cotton, sugar,..
Livestock and meat examples: lean hogs, pork, live cattle, ...
L-Municipal
L-Municipal
A formal promise to repay a debt issued by a US state or local
government agency.
The bond is often eempt from federal and state income tax.
The delivery has to be done in kind, thus physically.
P-Physical
P-Physical
The delivery of the sales contract is done in cash, not in kind.
C-Cash
C-Cash
Non standardized specifications for the underlying assets.
N-Non-Standardizedf future
N-Non-Standardizedf future
S-Standardized future
S-Standardized future
Standard specifications for the underlying assets are used.
Example 25000 kilos of Bintje potatoes, 5 cm minimum in diameter, Bintje gender.
Separate Trading of Registered Interest and Principal of Securities.
The stripped coupons.
S-Treasury strips
S-Treasury strips
Short-term obligation (till 90 days) issued with a discount in stead of bearing interest.
L-Treasury bill
L-Treasury bill
Debt instrument with maturities of 10 years and longer.
B-Treasury bond
B-Treasury bond
Debt instrument with maturities ranking from 1 to 10 years.
N-Treasury note
N-Treasury note
The loan is refundable at maturity date as a one time payment.
The holder of the debt instrument can call the issuer of the bond to repurchase, mostly at par, at specified times.
The issuer has on top of that the right to call upon the bonds for global reïmbursement at predefined periods before maturity date.
L-Fixed maturity with put call
L-Fixed maturity with put call
S-Sponsored
S-Sponsored
A foreign company from US point of view chooses a depositary bank in the USA and deposits shares in custody with that bank.
The custody bank issues ADR's (American depositary receipts).
Those receipts are registered with the SEC (Securities and exchange commission) and traded.
The rights of a holder of sponsored ADR's is similar to normal shareholders, including voting rights.
U-Unsponsored
U-Unsponsored
A US bank acquires shares independently from the foreign company.
Against these shares ADR's (American depositary receipts) are issued by the US bank.
These ADR's are registered with the SEC (Securities and exchange commission) and traded.
The right to vote lies with the depositary bank.
A-Sponsored AMPS
A-Sponsoring AMPS
Sponsored by Merrill Lynch Auction Market Preferred Stock
The rate is adjustable and the auction is of the Dutch type: all stock will be traded at the lowest price allowing all offerings to be sold.
P-Sponsored144A
P-Sponsored144A
Trade applying rule 144A of the US securities act of 1933 only between institutional investors.
These are registered with the SEC. The trade is not restrictioned with provisions applicable normally when the public is treading.
Commercial or government paper [e.g., bonds] as underlying assets for structured instruments..
Example German state debts and US T-bills.
D-Structured instrument underlying asset debt and interest
D-Structured instrument underlying asset debt and interest
Other underlying assets for structured instruments.
M-Structured instruments underlying asset other
M-Structured instruments underlying asset other
S-Structured instruments underlying asset stock equit
S-Structured instruments underlying asset stock equit
Shares as underlying assets for structures products.
C-Structured instrument underlying assset currency
C-Structured instrument underlying asset currency
An amount in currencies as underlying asset for the structured instrument.
T-Structured instrument underlying asset commodity
T-Structured instrument underlying asset commodity
Agricutural, industrial extraction products as underlying assets of structured products.
I-Structured instrument underlying asset index
I-Structured instrument underlying asset index
Stock index as underlying asset for structured instruments.
B-Structured instrument underlying asset basket
B-Structured instrument underlying asset basket
A group of securities as underlying asset for structured instruments.
Often the same constitution as an index.
N-Naked warrant
N-Naked warrant
Naked warrants are issued without accompanying bond and traded separatelly on the market.
Mainly institutionnal investors are trading them.
U-Municipal RAN
U-Municipal RAN
Revenue anticipating note.
RANs are issued by states and municipalities in order to finance current operations in anticipation of future revenues. These notes are municipal securities that are one-year, interest-bearing debt obligations.
G-Municipal general obligation BD
G-Municipal general obligation BD
The principal and interest payments to the bond holders are guaranteed by the municipality.
J-Municipal TAN
J-Municipal TAN
Tax Anticipating Notes.
TANs are issued by states and municipalities in order to finance current operations in anticipation of future tax receipts.
These notes are municipal securities that are one-year, interest-bearing debt obligations.
Y-Municipal BAN
Y-Municipal BAN
Bond anticipating note.
Short term debt instruments issued until long term instruments are issuable.
The long term debt covers the repayments in principal and interest of the BAN's.
S-Municipal strip
S-Municipal strip
The municipal bond got the coupons stripped off.
These coupons are traded separately.
F-Municipal revenue bond
F-Municipal revenue bond
The principal and interest are guaranteed by the revenues that are generated by the project financed by the bond.
Z-Municipal VRDO
Z-Municipal VRDO
Variable Rate Demand Obligation. (also called VRDN's N stands for Notes).
The interest rate is reset on basis of an index of short-term municipal debt rates.
Dividends are determined at auctions by the issuer for specific time intervals.
U-Auction rate
U-Auction rate
The owners of preferred shares share the benefits above a treshold with the owners of regular shares.
P-Participating income
P-Participating income
The owners of preferred shares get a fixed income per share or per facial value or per issue value before any payment of regular dividends to the regular shareholders.
If in year there are not sufficient revenues to compensate for the fixed income of preferred stock holders, the right is carried forward to any year where the payment becomes possible.
C-Cumulative fixed rate
C-Cummulative fixed rate
The owners of preferred shares get an income per share or per facial value or per issue value before any payment of regular dividends to the regular shareholders. The income is linked to a category of debt. Exemple Treasury bill rates at 3 months.
D-Debt linked
D-Debt linked
The owners of preferred shares get an income per share or per facial value or per issue value before any payment of regular dividends to the regular shareholders. The income is linked to an index. Example CAC-40.
I-Index linked
I-Index linked
L-Floating rate income
L-Floating rate income
The quarterly dividend varies according to a published formula.
The validity of the dividend is determined for a vaying defined period.
The owners of preferred shares get an income per share or per facial value or per issue value before any payment of regular dividends to the regular shareholders. The income is linked to the interest rate paid by companies with similar credit ratings.
R-Ratings linked
R-Ratings linked
The owners of preferred shares share the benefits above a treshold with the owners of regular shares.
If in any year there are not sufficient revenues to compensate for the fixed income of preferred stock holders, the right is carried forward to any year where the payment becomes possible.
Q-Cumulative participating income
Q-Cumulative participating income
The income is adapted according to an added collateral, as mortgages and mortgage backed securities.
A-Adjustable rate income
A-Adjustable rate income
F-Fixed rate income
F-Fixed rate income
The owners of preferred shares get a fixed income per share or per facial value or per issue value before any payment of regular dividends to the regular shareholders.
N-Normal rate income
N-Normal rate income
The owners of preferred shares get an income per share or per facial value or per issue value before any payment of regular dividends to the regular shareholders. The income is linked to the interest rate at 1 year. Example with saving funds rate as reference.
The owners of preferred shares get an income per share or per facial value or per issue value before any payment of regular dividends to the regular shareholders. The income is linked to a basket of shares.
E-Equity linked
E-Equity linked
F-Future
A future is a salescontract concluded or purchased now, to be executed in the future.
The execution elements to be fullfilled at expiration date are:
- delivery of the underlying (or compensation for the price difference contract date/delivery date)
- payment of the price
F-Future
R-Common shares series
R-Common shares series
Shares with common characteristics from voting and dividend point of view.
S-Common shares
S-Common shares
Other than preferred shares.
Common shares can be divided into classes according to the rights of their holders.
Shares of class A or B for instance could give rise to different rights.
L-Common shares class
L-Common shares class
T-Capital shares
T-Capital shares
Securities sharing the appreciation or depreciation of the investment portfolio.
This in investment vehicles which do not pay out revenues.
With the issuance of new shares only part of the issue price has to be paid upon closure of the issuance period.
The balance is paid in installments over a few years.
The shares obtain full benefit of the dividends and voting rights.
I-Installment receipts
I-Installment receipts
Underlying asset for options is index.
I-Option on indices
I-Option on indices
Underlying assets on options are commodities.
T-Option on commodities
T-Option on commodities
Underlying asset for options is basket of shares.
B-Option on basket
B-Option on basket
Underlying assets for options are futures.
F-Option on futures
F-Option on futures
M-Option on other underlying assets
M-Option on other underlying assets
Underlying assets for options are other non specified.
Underlying assets for options are other options.
O-Option on options
O-Option on options
Underlying assets on options are SWAPS.
W-Option on swaps
W-Option on swaps
Underlying assets for options are stock equities.
S-Option on stock equities
S-Option on stock equities
Underlying assets for options are currencies.
C-Option on currencies
C-Options on currencies
Underlying assets for options are debt financial instruments.
D-Option on debt and interest
D-Option on debt and interest
N-Common_Units
N-Common units
Different classes of securities traded as a unit: eg x shares and y warrants.
The loan is refundable at maturity date as a one time payment.
The holder of the debt instrument can call the issuer of the bond to repurchase, mostly at par, at specified times.
K-Fixed maturity with put
K-Fixed maturity with put
M-Other assets
Miscellaneous financial instruments with miscellaneous assets as collateral.
M-Other assets
Other financial instrument
M-Other miscellenaous
M-Other / Miscellenaous
F-Financial future
A future with financial instruments as underlying assets.
F-Financial future
T-Future financial underlying commodities
T-Future financial underlying commodities
Commodities as underlying value for future contracts.
N-Future financial underlying interest
N-Future financial underlying interest
Government and private interest rates, mostly short term as underlying assets.
C-Future financial underlying currencies
C-Future financial underlying currencies
An amount in currencies as underlying asset for the future.
F-Future financial underlying futures
F-Future financial underlying futures
Other futures contracts as underlying assets.
S-Future financial underlying stock equities
S-Future financial underlying stock equities
Equities are the underlying assets for future contracts.
B-Future financial underlying basket
B-Future financial underlying basket
A group of securities as underlying asset for future.
Often the same constitution as an index.
P-Future financial underlying spreads
P-Future financial underlying spreads
An option spread is the underlying asset for futures contracts.
Swaps as underlying value for future contracts.
W-Future financial underlying swaps
W-Future financial underlying swaps
D-Future financial underlying debt
D-Future financial underlying debt
Commercial or government paper [e.g., bonds] as underlying assets.
Example German state debts and US T-bills.
O-Future financial underlying options
O-Future financial underlying options
Option contracts as undelrying assets.
M-Future financial underlying other
M-Future financial underlying other
Y-Depositary preferred shares
Y-Depositary preferred shares
Depositary receipts of preferred stock.
P-Preferred shares
P-Preferred shares
These shareholders are entitled to one or more of:
- a fixed dividend to be paid before any other dividend
- a preferred treatment when liquidating the company
- increased voting rights
The ranking of priority is:
1 Preferred shares or senior preferred stock
2. Preference shares or junior preferred stock
3. Commmon shares
E-Preference shares
E-Preference shares
These shareholders are entitled to one or more of:
- a fixed dividend to be paid before any other dividend
- a preferred treatment when liquidating the company
- increased voting rights
The ranking of priority is:
1 Preferred shares or senior preferred stock
2. Preference shares or junior preferred stock
3. Commmon shares
V-Convertible preference shares
V-Convertible preference shares
Preference shares which can be converted into common stock
These shareholders are entitled to one or more of:
- a fixed dividend to be paid before any other dividend
- a preferred treatment when liquidating the company
- increased voting rights
The ranking of priority is:
1 Preferred shares or senior preferred stock
2. Preference shares or junior preferred stock
3. Commmon shares
W-Convertible preferred shares
W-Convertible preferred shares
Preferred shares which can be converted into common stock
These shareholders are entitled to one or more of:
- a fixed dividend to be paid before any other dividend
- a preferred treatment when liquidating the company
- increased voting rights
The ranking of priority is:
1 Preferred shares or senior preferred stock
2. Preference shares or junior preferred stock
3. Commmon shares
C-Convertible shares
C-Convertible shares
The holder can convert the shares into common shares at certain periods in time.
J-Trust preferred securities
J-Trust preferred securities
A hybrid debt and equity instrument.
A company establishes a trust.
The trust issues preferred shares.
The company borrows from that trust.
The right, during a limited period, to a payment or attribution which
can be optionnal or mandatory and subject to conditions or
unconditionnal.
R-Entitlement_Right
R-Entitlement-Right
The physical delivery must take place at the end of the contract.
The only way to avoid this is to repurchase or sell the contract.
P-Physical delivery
P-Physical delivery
The difference between the value of the underlying assets in the contract and the actual value is paid/received.
C-Cash delivery
C-Cash delivery
X-No attribute 4
Attribute 4 is not relevant for the group.
X-No attribute 4
Part of the income is paid out.
M-Mixed fund
M-Mixed fund
G-Growth fund
G-Growth fund
The dividends are accrued or reinvested, is thus comprised in the trading price and not paid out
I-Income funds
I-Income funds
A maximum of the received income in the fund is paid out.
R-Redeemable
R-Redeemable
The shareholder has the option to sell back his share at issue price (or the price agreed at issuance). The option can be exercised at certain period(s) in time.
N-Non red exch extd
N-Non red exch extd
The preferred shares are <b><u>not</u></b> benefitting of the advantages:
The shareholder has the option to sell back his share at issue price (or the price agreed at issuance). The option can be exercised at certain period(s) in time.
The holder of the preferred share has the option to exchange his preferred shares, during a predefined period, against common shares of a different corporation.
The preference treatment is lenghtened in time.
Example: if a fixed dividend is paid to the preferred shares before any other dividend payment,
if the benefits of the year do not allow the payment of such preference dividend,
then the preferred dividends shall be paid from the later benefits, as soon as the profits permit the payment. And this before any oither dividend payment.
A-Red exchg extd
A-Redeemable exchangeable and extendible
The shareholder has the option to sell back his share at issue price (or the price agreed at issuance). The option can be exercised at certain period(s) in time.
The holder of the preferred share has the option to exchange his preferred shares, during a predefined period, against common shares of a different corporation.
The preference treatment is lenghtened in time.
Example: if a fixed dividend is paid to the preferred shares before any other dividend payment,
if the benefits of the year do not allow the payment of such preference dividend,
then the preferred dividends shall be paid from the later benefits, as soon as the profits permit the payment. And this before any oither dividend payment.
E-Exchangeable
E-Exchangeable
The holder of the preferred share has the option to exchange his preferred shares, during a predefined period, against common shares of a different corporation.
T-Extendible
T-Extendible
The preference treatment is lenghtened in time.
Example: if a fixed dividend is paid to the preferred shares before any other dividend payment,
if the benefits of the year do not allow the payment of such preference dividend,
then the preferred dividends shall be paid from the later benefits, as soon as the profits permit the payment. And this before any oither dividend payment.
The shareholder has the option to sell back his share at issue price (or the price agreed at issuance). The option can be exercised at certain period(s) in time.
The holder of the preferred share has the option to exchange his preferred shares, during a predefined period, against common shares of a different corporation.
C-Redeemable exch
C-Redeemable and exchangeable
L-Exch extendible
L-Exch extendible
The holder of the preferred share has the option to exchange his preferred shares, during a predefined period, against common shares of a different corporation.
The preference treatment is lenghtened in time.
Example: if a fixed dividend is paid to the preferred shares before any other dividend payment,
if the benefits of the year do not allow the payment of such preference dividend,
then the preferred dividends shall be paid from the later benefits, as soon as the profits permit the payment. And this before any oither dividend payment.
B-Redeemable extd
B-Redeemable extendible
The shareholder has the option to sell back his share at issue price (or the price agreed at issuance). The option can be exercised at certain period(s) in time.
The preference treatment is lenghtened in time.
Example: if a fixed dividend is paid to the preferred shares before any other dividend payment,
if the benefits of the year do not allow the payment of such preference dividend,
then the preferred dividends shall be paid from the later benefits, as soon as the profits permit the payment. And this before any oither dividend payment.
Foreign currencies are the underlying assets of
C-Underlying currency
C-Underlying currency
B-Underlying basket
B-Underlying basket
Baskets of equities as underlying assets for category other assets.
I-Underlying index
I-Underlying index
Indices as Underlying assets
D-Underlying debt and interest
D-Underlying debt and interest
Debt securities as underlying assets
M-Underlying miscellaneous
M-Underlying miscellaneous
Miscellenaous assets are the underlying values.
T-Underlying commodity
T-Underlying commodity
Commodities as underlying assets.
S-Underlying stock equity
S-Underlying stock equity
Stock Equities as underlying assets.
Right to an indemnity if the average price of a security does not reach a certain level before a pre-defined date.
The right has no value is the average level is reached or superseded.
C-Contingent right
C-Contingent right
A warrant is the right to acquire shares or other underlying values of an emittor.
There are index and basket warrants, currency warrants, equity warrants which can be calls or puts.
W-Warrant
W-Warrant
When a share issue is oversubscribed, the shares are allocated to the subscribers. This is often done in proportion to the subscriptions.
A-Allotment right
A-Allotment right
The right to subscribe to new shares at a predefined price during a predefined period.
S-Subscription right
S-Subscription right
The right to purchase shares at a predefined price during a predefined period.
P-Purchase right
P-Purchase right
A sales contract concluded today to be executed at a later date.
The price and assets are fixed at contract date.
Contrary to futures contracts forwards are not negotiatable since they are concluded between fixed parties.
F-Forward
F-Forward
Gold, silver or platina receipts
P-Precious metal receipt
P-Precious metal receipt
M-Miscelenaous other assets
M-Miscelenaous other assets
An escrow receipt is the prove of receipt of assets by an escrow agent.
The escrow agent keeps in trust the assets until a contingency or obligations are met.
E-Escrow receipts
E-Escrow receipts
A deed concerning real estate property.
A deed is a property right or the right to acquire the property.
R-Real estate deeds
R-Real estate deeds
Fixed amount payd per year. Is commonly paid in respect of an insurance contract.
The annuitites are paid during a number of years or until the death of the beneficiary.
The annuities are earned by payments made in the past or by a one time payment.
A-Fixed annuity
A-Fixed annuity
Insurance policies, mostly life insurances.
I-Insurance policies
I-Insurance policies
X-No attribute 2
Attribute 2 is not relevant for the group.
CFINo attribute2
The right to buy the underlying value.
C-Call option
C-Call option
P-Put option
P-Put option
The right to sell the underlying value.
F-Fixed maturity
F-Fixed maturity
The loan is only refundable at maturity date as a one time payment.
Attribute 1 is not relevant for the group
X-No attribute1
X-No attribute1
Insurance program that allows to direct investment in a choice of mutual funds. Meanwhile, one gets tax deferment of earnings and a death benefit guarantee, and one is able to obtain periodic checks for life.
Z-Variable annuities
Z-Variable annuities
F-Mutual funds
F-Mutual funds
Investment companies forming pools to invest cash in assets according to the fund's investment charter.
Q-Real estate investment trust
Q-Real estate investment trust
An investment trust owns and manages a pool of commercial properties and
mortgages and other real estate asssets; shares can be bought and sold in
the stock market
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A <b>Real Estate Investment Trust</b> or <b>REIT</b> (<a title=""International%20Phonetic%20Alphabet" vertalen" href="bword://!!ARV6FUJ2JP,International%20Phonetic%20Alphabet/">pronounced</a> )
is a <a title=""tax" vertalen" href="bword://!!ARV6FUJ2JP,tax/">tax</a> designation
for a corporation investing in <a title=""real%20estate" vertalen" href="bword://!!ARV6FUJ2JP,real%20estate/">real
estate</a> that reduces or eliminates <a title=""corporate%20income%20tax" vertalen" href="bword://!!ARV6FUJ2JP,corporate%20income%20tax/">corporate
income taxes</a>. In return, REITs are required to <a title=""distribute" vertalen" href="bword://!!ARV6FUJ2JP,distribute/">distribute</a> 90%
of their <a title=""income" vertalen" href="bword://!!ARV6FUJ2JP,income/">income</a>,
which may be taxable in the hands of the <a title=""investor" vertalen" href="bword://!!ARV6FUJ2JP,investor/">investors</a>.
The REIT structure was designed to provide a similar
structure for <a title=""investment" vertalen" href="bword://!!ARV6FUJ2JP,investment/">investment</a> in <a title=""real%20estate" vertalen" href="bword://!!ARV6FUJ2JP,real%20estate/">real
estate</a> as <a title=""mutual%20fund" vertalen" href="bword://!!ARV6FUJ2JP,mutual%20fund/">mutual
funds</a> provide for <a title=""investment" vertalen" href="bword://!!ARV6FUJ2JP,investment/">investment</a> in <a title=""stocks" vertalen" href="bword://!!ARV6FUJ2JP,stocks/">stocks</a>.
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<a title="Bladeren naar: "http://www.babylon.com/redirects/redir.cgi?type=wikipedia&full_url=http://en.wikipedia.org/wiki/Real estate investment trust"" href="http://www.babylon.com/redirects/redir.cgi?type=wikipedia&full_url=http://en.wikipedia.org/wiki/Real estate investment trust"><span class="TabStopNorm">See
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Q-Perpetual with call
Q-Perpetual with call
There is no maturity date.
The issuer has on top of that the right to call upon the bonds for global reïmbursement at predefined periods before maturity date.
O-Nil paid
O-Nil paid
There are no payments on the shares
The shares are fully paid.
F-Fully paid
F-Fully paid
N-Fully paid no par
N-Fully paid no par
The shares are fully paid but not at par value.
The shares are fully paid at par value.
V-Fully paid par value
V-Fully paid par value
The shares are partly paid.
P-Partly paid
P-Partly paid
The formal representation of ownership interest of a company or similar
entity.
Depending on the company act and the legislation of the country of
incorporation this ownership shall give right to:
- participation in the benefits
- voting rights
- part of the assets, normally valued in currency, in case of
liquidation of the company
E-Equity
E-Equity
Asset backed, mortgage backed or other securities are often issued in tranches.
The subscrbers to the last issues of tranches of the debt are junior holders and have lower priority on the senior holders.
J-Junior
J-Junior
Secured by a government or a government agency.
The USA and agencies as Ginnie Mae, Fannie Mae and Freddie Mac are examples.
V-Government agency
V-Government agency
In case of liquidation of the company, subordinated loans are paid after the normal loans and before the share capital.
B-Subordinated
B-Subordinated
Secured by the governement treasury.
A government treasury is the office issuing Treasury bills, notes and bonds for account of a government.
T-Government treasury
T-Government treasury
Asset backed, mortgage backed or other securities are often issued in tranches.
The subscrbers to the first issues of tranches of the debt are senior holders and have priority on the junior holders.
E-Senior
E-Senior
S-Secured
S-Secured
The borrower pledges assets as collateral for the loan.
If the borrower defaults in reïmbursement or interest payment the collateral will be transformed into loquidities and used to pay the debts.
The interest and principal payments are secured by a third person/entity.
G-Guaranteed
G-Guaranteed
The sales and purchase occur at a specified time in the future.
F-Forward term
F-Forward term
The sales and purchase occurs immediately at the conclusion of the contract.
S-Spot term
S-Spot term
The term of execution of the sale and purchase is not specified.
U-Undefined term
U-Undefined term