Stock exchange glossary


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The Group’s marketplace for smaller and growing corporations installed in London and now prolonged to AIM Italia – MAC

Borsa Italiana, the Group’s Italian trade enterprise

Compound annual increase rate

Cassa di Compensazione e Garanzia S.p.A., the Group’s Italian subsidiary which manages the Italian CCP for equity, derivative and fixed income trades

Central Counterparty – stands between events to a trade to eliminate counterparty chance via making sure that settlement takes place

An entity that enables securities to be processed, settled and held in custody

London Stock Exchange Group p.c

Commissione Nazionale in step with le Società e l. a. Borsa, Italy’s reputable frame for regulating and supervising corporations and trading infrastructure companies

Consumer Price Index which measures changes in the fee of client goods and services bought by families

The device for the choices paperless agreement of trades in securities and the conserving of uncertified securities in the UK operated by using Euroclear UK & Ireland Limited and controlled through the choices FSA and Bank of England

Electronic trading networks advanced by regulated venues inclusive of Regulated Markets, MTFs and with the aid of OTC broker sellers to enable the matching of orders between shoppers and dealers without being visible until the trade is whole, the use of exemptions authorised beneath MiFID and thereby developing a steady surroundings wherein to execute larger trades

Tradeable certificates representing ownership of some of underlying stocks, especially for groups in growing or emerging markets

Tradeable financial contraptions whose fee is decided by means of the choices cost of different underlying financial instruments

Earnings earlier than hobby, tax, depreciation and amortisation

Employee Share Option Plan

Exchange Traded Commodity – simple securities that offer exposure to a range of commodities and commodity indices

Exchange Traded Fund – simple, low-cost and flexible investments that song indices and sectors

Exchange traded merchandise which include ETFs and ETCs

European regulation on law of clearing of derivatives, and the choices operation and governance of CCPs and alternate repositories

Financial Services Authority, the cutting-edge regulator of providers of economic offerings inside the UK

The index advanced by means of FTSE and London Stock Exchange for main UK quoted businesses

FTSE International Limited and its subsidiaries, the Group’s leading global provider of index and analytics solutions

The index advanced with the aid of FTSE and Borsa Italiana for leading Italian quoted agencies

The index of main European quoted groups developed via FTSE

Negotiable certificate issued with the aid of depositary banks which represent possession of a given variety of a organization’s stocks, indexed and traded one after the other from the underlying shares.

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The Company and its institution undertakings

Group undertakings shall be construed according with s1161 of the Companies Act 2006 and, in relation to the Company, consists of London Stock Exchange percent, Borsa Italiana S.p.A. and FTSE International Limited, together with respective direct and indirect subsidiaries

The Group’s Italian Derivatives Market, buying and selling contracts based totally on equities and associated indices

The Group’s Italian power derivatives section, trading contracts primarily based on commodities and associated indices

International Order Book – the choices Group’s digital buying and selling carrier for global securities

Initial Public Offering – the choices manner whereby corporations join our markets and raise capital for the choices first time

A measure of time postpone experienced in a system, measured in milliseconds (1/1,000th of a second) or microseconds (1/1,000,000th of a 2d)

LCH.Clearnet Group Limited, our proposed accomplice to increase our pan-European clearing and danger control enterprise

The market for businesses who have been admitted to trading on the London Stock Exchange’s most important market; and in Italy, the marketplace for organizations listed on Borsa Italiana’s foremost MTA market

The interbank collaterised deposit market in Italy controlled with the aid of CC&G

EU Directive brought in November 2007 to harmonise go border trading of equities, providing more preference of buying and selling venues

MillenniumIT’s multi-asset trading platform, deployed for Turquoise and the UK equities market

MillenniumIT’s put up trade technology, imparting exchange routing and valuable counterparty (CCP) services across a wide variety of products and markets

Millennium Information Technologies Limited, the choices Group’s subsidiary that is the choices developer of flexible, low fee, high performance buying and selling structures and economic markets software serving each the choices Group’s very own companies and 0.33 events

Monte Titoli S.p.A., the Group’s Italian Central Securities Depository and settlement organisation

Mercato Obbligazionario Telematico is the Group’s Italian retail bond trading platform

Mercato Telematico Azionario is the choices Group’s Italian digital marketplace on which stocks, convertible bonds, warrants and option rights are traded

Società in keeping with il Mercato dei Titoli di Stato S.p.A., the Group’s 60 per cent subsidiary which owns and operates an electronic buying and selling platform for European fixed earnings securities

Alternative electronic trading systems as categorized under MiFID

Nomad or Nominated Adviser is the number one regulator of an AIM organization

The Group’s Order Book for Retail Bonds

Over-the -counter transactions finished far from an alternate or MTF

The Group’s economic market software and statistics services provider

A multilateral device which brings collectively more than one 1/3 celebration shopping for and selling in economic units in accordance with guidelines, accredited underneath provisions of MiFID

Repurchase Agreement – the choices manner of borrowing cash through combining the choices sale and next repurchase of an asset

Regulatory News Service, the choices Group’s Primary Information Provider, for dissemination of regulatory and non-regulatory news to the choices marketplace

The Retail Price Index which measures inflation in the UK economic system

The Group’s securities identity service

The digital order e book operated through the London Stock Exchange for the maximum liquid securities

Derivatives trading platform used by Turquoise Derivatives and IDEM, provided to the choices Group via TMX Group

The Group’s regulated market for pretty specialized funding entities that want to target institutional, professional and surprisingly knowledgeable buyers

Initiative led via the choices European Central Bank to offer a platform for agreement of bonds and equities traded within the Eurozone, anticipated to be released 2015

The Group’s current buying and selling technology for Borsa Italiana equities, to get replaced with MillenniumIT technology within the first 1/2 2012

The Group’s 51 in line with cent owned pan-European MTF buying and selling subsidiary, a mission among the choices Group and 12 global investment bank customers

The Group’s internet-based totally matching, reconciliation and facts integration engine that gives matching of post exchange information in a easy, automated method

The Group’s publish-alternate router, to manage the trade flows among two competing CCPs and onward to agreement