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My Canadian Securities Course: CSI Volume 1 > Acronyms > Flashcards

Acronyms Flashcards

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1
Q

AON

A

All Or None

  • an order that must be executed in its entirety - partial fills will not be accepted.
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2
Q

ATS

A

Alternative Trading Systems (ATS)

Privately-owned computerized networks that match orders for Securities outside of recognized Exchange facilities.

Also referred to as Proprietary Electronic Trading Systems (PETS)

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3
Q

AIF

A

Annual Information Form

A document in which issuer is required to disclose information about presently known trends, commitments, events or uncertainties that are reasonably expected to have a material impact on the issuers business, financial condition or results of operations.

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4
Q

ABCP

A

Asset-backed commercial paper (ABCP)

Type of security that has a maturity date of less than one year, typically in the range of 90-180 days, with a legal and design structure of asset-backed security.

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5
Q

AMF

A

Autorite des Marches financiers (French)
Financial Services Authority

The body that administers the regulatory framework surrounding Quebecs financial sector.

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6
Q

CDIC

A

Canadian Deposit Insurance Corporation

A federal Crown Corporation providing deposit insurance against loss (up to $100,000 per depositor) when a member institution fails.

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7
Q

CESG

A

Canadian Education Savings Grant

An RESP incentive program, whereby the federal government will make a matching grant of a maximum of $509-$600 per year of the first $2500 contributed each year until the child is 18yrs.

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8
Q

CPP

A

Canadian Pension Plan

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9
Q

CPBs

A

Canadian Premium Bonds

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10
Q

CSBs

A

Canadian Savings Bonds

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11
Q

CDCC

A

Canadian Derivatives Clearing Corporation (CDCC)

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12
Q

CIPF

A

Canadian Investor Protection Fund

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13
Q

CLHIA

A

Canadian Life and Health Insurance Association Inc. (CLHIA)

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14
Q

CPA

A

Canadian Payments Association (CPA)

Association that operates a highly automated national clearing system for interbank payments

Members include chartered banks, trust and loan companies and some credit unions and caisses.

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15
Q

CSA

A

Canadian Securities Administrators

A forum for the 13 securities regulators of Canada’s provinces and territories to co-ordinate and harmonize the regulation of the Canadian capital markets.

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16
Q

CSE

A

Canadian Securities Exchange

An alternative marketplace for trading equity securities and emerging companies.

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17
Q

CUB

A

Canadian Unlisted Board (CUB)

A web-based trade reporting system for unlisted and unquoted equity securities in Ontario.

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18
Q

CSS

A

Clearing and Depository Services Inc (CDS)

  • Provides customers with physical and electronic facilities to deposit and withdraw depository-eligible securities and manage their related ledger positions (securities accounts).
  • Also provides electronic clearing services both domestically and internationally, allowing customers to report, confirm and settle securities trade transactions.
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19
Q

CPI

A

Consumer Price Index

  • used as an indicator of inflation
  • measures cost of living by measuring the prices of a given basket of goods.
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20
Q

DEA

A

Direct Electronic Access

Process of some institutional clients directly accessing the Exchanges electronically via thier investment dealers rather than placing orders (usually verbally) with their investment dealer who souls in turn execute the transaction.

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22
Q

EPS

A

Earnings Per Share

A value ratio that shows the portion of net income for a period attributable to a single common share of a company.

EPS = earnings / common shares

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23
Q

ETFs

A

Exchange Traded Funds

  • Open-ended mutual funds trusts that hold the same stocks in the same proportion as those included in a specific stock index.
  • Like index mutual funds, ETFs are designed to mimic the performance of a specified index
  • Traded on major Exchanges, shares can be traded throughout the trading day.
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24
Q

ETNs

A

Exchange-Traded Notes

Exchange-traded debt obligations issued by a bank that promises to pay investors a return on their investment based on the performance of a specific reference asset such as an index or another benchmark.

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25
Q

FIFO

A

First In First Out

Inventory acquired earliest are first sold.

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26
Q

GDP

A

Gross Domestic Product

The value of all goods and services produced in a country in a year.

27
Q

GIS

A

Guaranteed Income Supplement (GIS)

A pension payable to OAS-Old Age Security recipients with no other income source.

28
Q

GIC

A

Guaranteed Income Certificate (GIC)

A deposit instrument most commonly available from trust companies, requiring a minimum investment at a predetermined rate of interest for a stated term. Generally nonredeemable prior to maturity but there can be exceptions.

29
Q

GMWB

A

Guaranteed Minimum Withdrawal Benefit Plans

Similar to a variable annuity.
- client purchases plan, GMWB option allows the plan holder to withdraw a certain fixed percentage of the initial deposit every year until the entire principle is returned, no matter how the fund performs

30
Q

HFT

A

High Frequency Trading

  • sub-set of algorithmic trading.
  • characterized by a very large number of orders for individual trades of very small size done at an extremely high speed.
32
Q

ITA

A

Income Tax Act

  • Legislation dictating the process and collection of federal tax in Canada
  • administered by Revenue Canada
33
Q

IVIC

A

Individual Variable Insurance Contract

Term used in the IVIC guidelines to describe a segregated Fund contract.

34
Q

IPO

A

Initial Public Offering

A new issue of Securities for the very first time.

IPOs must adhere to strict government regulations as to how the investments are sold to the public.

35
Q

IA

A

Investment Advisor

An individual licences to transact in the full range of Securities.

  • must be registered by the security commission of the province he/she works.
  • term applies to employees of SRO member firms only
  • also known as a Registrant or Registered Representative (RR)
36
Q

IIROC

A

Investment Industry Regulatory Organization of Canada (IIROC)

Investment industry’s national self-regulatory organization.

Carries out regulatory responsibilities by setting and enforcing rules regarding:
- the proficiency, business and financial conduct of dealer firms and their registered employees, and - - through setting and enforcing market integrity rules regarding trading activity on Canadian equity marketplaces.

37
Q

KYC

A

Know Your Client

  • cardinal rule in making investment recommendation.
  • all relevant information about a client must be known to ensure the registrant’s recommendations are suitable.
38
Q

LSVCC

A

Labour Sponsored Venture Capital Corporations

  • Investment funds sponsored by labour organizations,
  • that have a specific mandate to invest in small to medium-sized businesses.

To encourage this mandate, governments offer generous tax credits to investors in LSVCs

39
Q

LVTS

A

Large Value Transfer System

A Canadian Payment Association electronic system for the transfer of large value payments between participating financial institutions.

40
Q

LEAPS

A

Long Term Equity Anticipation Securities

  • long-term (2-3yr) option contracts.
41
Q

LIBOR

A

London Interbank Offered Rate

The rate of interest charged by large international banks dealing in Eurodollars to other large international banks.

42
Q

MD&A

A

Managers’ Discussion and Analysis

Document that requires management of an issuer to discuss the dynamics of its business and to analyze its financial statements with the focus being on information about the issuers’ financial condition and operations with emphasis on liquidity and capital reserves.

43
Q

MPP

A

Money Purchase Plan

Type of Registered Pension Plan, also called a Defined Contribution Plan.

In this type of plan, the annual payout is based on the contributions to the plan and the amounts those contributions have earned over the years preceding retirement. (The benefits are not known - but the contributions are).

53
Q

RR

A

Registered Representative

An individual licences to transact in the full range of Securities.

  • must be registered by the security commission of the province he/she works.
  • term applies to employees of SRO member firms only
  • also known as a Registrant or an Investment Advisor (IA).
58
Q

DJIA

A

Dow Jones Industrial Average

A price-weighted average that uses 30 actively traded blue chip companies as a measure of the direction of the New York Stock Exchange

70
Q

IFRS

A

International Financial Reporting Standards

A globally accepted high-quality accounting standard already used by public companies in over 100 countries around the world.

86
Q

PETS

A

Proprietary Electronic Trading Systems

Privately-owned computerized networks that match orders for Securities outside of recognized exchange facilities.

Also referred to as ‘Alternative Trading Systems’ (ATS)

87
Q

ME

A

Montreal Exchange

Also know as the Bourse de Montreal

88
Q

MACD

A

Moving Average Convergence-Divergence

A technical analysis tool that takes the difference between two moving averages and then generates a smoothed moving Average on the difference (the divergence) between the two moving averages.

89
Q

MFDA

A

Mutual Fund Dealers Association

The SRO (self-regulating organization) that regulates the distribution (dealer) side of the Mutual Fund industry on Canada.

90
Q

NADAQ

A

National Association of Securities Dealers Automated Question System

A computerized system that provides brokers and dealers with price quotations for securities traded on the OTC (Over The Counter).

91
Q

DNCL

A

National Do Not Call List

The Canadian Radio-television and Telecommunications s Commssion has established Rules that telemarketers and organizations that hire telemarketers must follow.

Rules prohibit calling telephone numbers that have been registered on the DNCL for more than 31 days.

92
Q

NRD

A

National Registration Database

A web-based system that permits mutual fund salespersons and investment advisors to file applications for registration electronically.

93
Q

NGX

A

National Gas Exchange Inc.

  • provides electronic trading, central counterparts clearing and data services to N. American natural gas and electricity markets.
  • Headquartered in Calgary
  • wholly owned by TMX Group Inc.
  • it’s lead regulator is the Alberta Securities Commission.

-

94
Q

NAAF

A

New Account Application Form (NAAF)

  • Form filled out by client and IA upon opening an account.
  • must be completed before any trades are put through in an account.
  • Provides relevant information to make suitable investment recommendations.
95
Q

NYSE

A

New York Stock Exchange (NYSE)

Oldest and largest stock exchange in N. America with more than 1,600 companies listed on the exchange.

96
Q

NEX

A

NEX

  • A new and separate board of the TSX Venture Exchange
  • Provides a Trading forum for companies that have low levels of business activity or who do not carry on an active business.
97
Q

n.p.v.

A

No Par Value

Indicates a stick that has no stated face value

98
Q

OSFI

A

Office of the Superintendent of Financial Institutions (OSFI)

The federal regulatory agency whose main responsibilities regarding insurance companies and segregated funds are to ensure that the companies issuing the funds are financially solvent.

99
Q

OAS

A

Old Age Security (OAS)

A government pension plan payable at age 65 to all Canadian citizens and legal residents.

100
Q

OBSI

A

Ombudsman for Banking Services and Investments (OBSI)

Independent organization that investigates complaints against financial services providers.

101
Q

SRA

A

Sale and Repurchase Agreements (SRAs)

An open-market operation by the bank of Canada to offset undesired DOWNWARD pressure on overnight financing costs

Used to increase rates

102
Q

SPRAs

A

Special Purchase and Resell Agreements (SPRAs)

An open-market operation used by the bank of Canada to relieve undesired UPWARD pressure on overnight financing rates

Used to lower rates

My Canadian Securities Course: CSI Volume 1 (10 decks)

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