A physical or virtual card entitling the recipient to receive goods or services of a specified value from the issuer.
A single physical certificate that covers all or part of an issue of securities. See also
A custodian that provides its customers with custody services in respect of securities traded and settled in several countries around the world.
The term used when a global certificate relates to fixed income instruments (e.g. bonds). See also
Procedures through which the objectives of a legal entity are set, the means of achieving them are identified and the performance of the entity is measured. This refers, in particular, to the set of relationships between the entity’s owners, board of directors, management, users and regulators, as well as other stakeholders that influence these outcomes.
A situation that can arise in a funds or securities transfer system in which a failure to execute one or more transfer orders prevents the execution of a substantial number of orders submitted by other participants. See also
queuing systemic risk
A mechanism whereby the margin that a participant posts in a central counterparty (CCP) for its customers’ positions is the sum of the requirements for individual customers.