An event in relation to a security as a result of which the holder will be or may become entitled to: a benefit (dividend, rights issue etc.); or securities other than those which he holds prior to that event (takeover offer, scheme of arrangement, conversion, redemption etc.). This type of corporate event is also known as a stock situation. COUPON [..]

Coupon interest that is earned on a bond from the last coupon date to the present date. AGENT:

Buying and selling similar securities, commodities or currencies in order to profit from temporary price discrepancies between two market prices. ASLA:

One hundred basis points equal one percent. One basis point is 0.01% BENEFICIAL OWNER:

The transaction whereby one party sells securities (e.g. Government Bonds) to another, agreeing to repurchase (Repo) the securities at a future date at a pre-agreed price. Repo usually refers to Bond Repo, but this transaction type is increasingly used with other marketable securities too, as evidenced above. BORROWER AGREEMENT:

The practice whereby a lender of securities enters the open market to buy securities in order to replace those that have not been returned by a borrower. Strict market practices govern the buy-in process. BUY/SELL-SELL/BUY:

Securities, financial instruments or deposits of the currency that are delivered by the borrower to the lender to support a loan transaction. In repos and buys-sell backs the collateral is considered to be the securities side of the transaction. In securities lending the collateral is the cash or securities supplied in exchange for the specific bor [..]

A repo in which the securities are de nominated in a different currency to the collateral. CUSTODIAN:

The period in the day when one party to a trade has a temporary credit exposure to the other due to one side of the trade having settled before the other. It would normally mean that the loan had settled but the delivery of collateral would settle at a later time, although there would also be exposure if settlement happened in reverse order. The pe [..]

A lender that lends directly to a borrower rather than using an agent or intermediary and that has autonomy regarding all lending decisions. The lender may handle loan administration in house or may also use a third party. DISTRIBUTIONS: