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TIM > Glossary > Flashcards

Glossary Flashcards

1
Q

Accrual

A

Accounting method in which items are entered as it is earned or incurred, regardless of when actual payments are received or made

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2
Q

Accrued Intrest

A

interest that has accrued on a holding since the last interest payment date or start date, up to but not including the current date

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3
Q

ACK/NACK Protocol

A

ACK is a validated SWIFT
NACK is a non validated SWIFT

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4
Q

Affirmation

A

process where a buy side firm sends a communication to a sell side firm indicating their agreement to the details of a confirmation received from the sell side firm

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5
Q

algorithmic trading

A

placing of a buy or sell order of a defined quantity into a quantitative model that automatically generates the timing of orders and size of orders based on parameters set

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6
Q

Allocation

A

the process where a buy side firm sends a communication to a sell side firm advising the sell side firm of the details of the investors who traded

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7
Q

AI

A

branch on computer science that focuses on programming computers to behave like humans

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8
Q

Autex

A

one of world largest global FIX based order routing networks

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9
Q

Basel Committee

A

committee of central bankers that publish minimum capital requirements for banks known as Basel Accord

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10
Q

Beneficial Owner

A

specific property rights in equity belong to a person even tho they are not the legal owner

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11
Q

Best execution

A

firm tries to get best possible result for its clients by getting loads of different prices from various markets to get cheapest one

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12
Q

Best Shoring

A

tailoring specific customer care needs to locations that are best suited for these functions

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13
Q

Big Data

A

collection that is so vast /complex that traditional data processing approaches are not adequate

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14
Q

blockchain

A

distributed and shared database that maintains a continually growing list of records called blocks. they cannot be altered retrospectively

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15
Q

botnet

A

network of computers controlled by cybercriminals using a trojan or other malicious programs

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16
Q

broker crossing network

A

Network provided by an investment bank which allows client order to match and cross transactions without going through an investment exchange

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17
Q

calastone

A

large global funds network

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18
Q

central counterparty

A

intermediary between market and participants

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19
Q

central securities depository

A

entity that holds securities to enable settle by book entry transfer
can carry out transaction processing such as clearing and custody services

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20
Q

Change control procedures

A

process developed to prevent an item of software or hardware being amended without audibility and review of impact by all interested parties

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21
Q

Cloud Computing

A

provision of technology resources on demand via a network

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22
Q

Commodity Futures Trading Commission (CFTC)

A

independent agency with mandate to regulate commodity futures and options in US

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23
Q

Consideration

A

amount paid by buyer and received by seller
sum of principal amount, accrued interest, commissions, fees and charges

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24
Q

Contract for Difference

A

agreement between 2 parties to cover the price difference between opening value and closing value of an instrument

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25
Q

Central Securities Depositories regulation

A

harmonises the authorisation and supervision of EU Central Security Depositories as well as certain settlement aspects

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26
Q

Data Depository

A

centralised repository of info about data such as meaning, relationships to other data, origin, usage and format

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27
Q

Data Protection Act

A

how personal data should be managed to protect its integrity and to protect the rights of the persons concerned

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28
Q

Data replication

A

process of sharing info to ensure consistency between redundant resources such as software or hardware components

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29
Q

Delivery Versus Payment

A

simultaneous delivery of securities by seller and the payment of sale by buyer on settlement date

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30
Q

Depot

A

Account with settlement agent which is used to record transactions and balances of securities

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31
Q

Designated Investment Exchange

A

outside UK and not a regulated market in the UK

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32
Q

Direct Market Access

A

automated process of routing a securities order directly to an execution venue, therefore avoiding intervention by a 3rd party

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33
Q

Distributed Denial of Service (DDoS)

A

an attempt to make a computer or network resource unavailable to its intended users

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34
Q

Distributed Ledger

A

a database that is shared and synchronised across multiple sites, firms or geographies

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35
Q

distributed system

A

configuration which contains a number of hardware elements which are connected by transmission technology

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36
Q

Depository Trust and Clearing Corporation (DTCC)

A

American post trade financial services company providing clearing settlement services to financial markets

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37
Q

End user development

A

methodology to manage the designing and building of software applications

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38
Q

FIX protocol

A

open message standard controlled by no single entity

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39
Q

Follow the Sun Model

A

help desk that work in different locations to give constant support

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40
Q

Fountain model

A

methodology that can have overlaps when designing and building software applications

41
Q

Free of Payment

A

A settlement methodology where the movement of cash and movement of securities are not linked to one another

42
Q

Friend Shoring

A

outsourcing activities to countries that are friendly with firms home country

43
Q

General Ledger

A

aka nominal ledger
main accounting record of a business using double entry book keeping

44
Q

Hybrid Systems

A

uses both order queues and market makers

45
Q

Infrastructure as a Service (IaaS)

A

Cloud computing model where the provider offers basic infrastructure such as network, servers, storage and processing power

46
Q

International Bank Account Number (IBAN)

A

bank accounts identifier to allow cross border transactions with reduced risk

47
Q

Investor Self Servicing

A

allows investors to service themselves without speaking to anyone which includes websites, applications and voice recognition

48
Q

International Securities Identification Number (ISIN)

A

code that represents company’s securities

49
Q

Iterative/Incremental

A

methodology to design and build software buy trying to publish an iteration to the market without any bugs

50
Q

Joint Application Development (JAD)

A

Methodology to design and build software by involving the end user and having successful workshops

51
Q

Legal Entity Identifier (LEI)

A

unique global identification code that enables identification of all legal entities

52
Q

Machine Learning

A

discipline of AI that allows technology systems to automatically learn and improve from experience without being explicitly programmed

53
Q

Malware

A

software that is destined to gain access to computer systems in order to disrupt normal operation or gather private information that may be used illegally

54
Q

Mark to Market

A

accounting procedure in where assets are recorded at their current market value

55
Q

Market Maker

A

A sell side firm that has accepted the obligation to quote both a buy and sell price in a financial instrument

56
Q

Matching Engine

A

form of trade agreement where both parties input their trade details to the matching engine databases
Matching engine compares two trade reports and provides them to both parties in real time

57
Q

Multi Lateral Trading facility

A

system that brings together multiple parties that are interested in buying and selling financial instruments

58
Q

Near Shoring

A

offshoring to lower cost foreign locations but are close to customer country

59
Q

Non clearing member

A

members of futures and options exchange but not its associated clearing house
relies on general clearing members

60
Q

Nostro

A

account within a settlement agent which is used to record transactions and balances in cash amounts

61
Q

Novation

A

substitution of one party to a contract by another, happens with central counterparty

62
Q

Order driven system

A

exchange trading system without market makers
submit orders to a system while another firm submits sell orders

63
Q

Organised Trading Facility (OTF)

A

not an MTF or regulated market operator

64
Q

Platform as a Service (PaaS)

A

Cloud Computing model where the provider offers infrastructure like IaaS but will also provide security

65
Q

PRINCE

A

a methodology to manage projects

66
Q

Project Sponsor

A

the senior executive who instigated a business change and is responsible for its success

67
Q

PTM Levy

A

on orders over £10,000 - charge is £1

68
Q

Quote driven systems

A

market makers produce 2 way prices

69
Q

Rapid Application Design

A

methodology to manage designing and building of software applications by making it as quick as possible

70
Q

Recognised Clearing house

A

a clearing house that is recognised by the FCA

71
Q

Recognised Investment Exchange (RIE)

A

investment exchange in the UK that is recognised by the FCA

72
Q

Recognised Overseas Investment Exchange (ROIE)

A

Outside Uk but is recognised by FCA

73
Q

Reference Data

A

Store of info that is used to determine the appropriate actions necessary when processing a trade

74
Q

Reference Data Repository

A

system that consolidates a firms view of reference data and feeds it to all the others systems in the configuration

75
Q

Regulatory Trade Reporting

A

An obligation to make certain inscape transactions public

76
Q

Relational databases

A

collection of data in a table that can be reassembled in many different ways

77
Q

Repo

A

sale and repurchase agreement
mostly with gov bonds

78
Q

Request for Proposal

A

invitation for suppliers through a bidding process to bid on specific products or services

79
Q

Senior Manager and Certification regime

A

makes individuals personally responsible for key aspects of firm activity

80
Q

Senior Responsible Officer

A

executive responsible for ensuring that a project or programme of change meets its objectives and delivers projected benefits

81
Q

Service Level Agreement (SLA)

A

part of a service contract in which a certain level of service is agreed on

82
Q

Settlement Date

A

date a deal actually does settle

83
Q

Software as a Service (SaaS)

A

cloud computing model where the provider offers infrastructure (IaaS) and security (PaaS) but also offer their application software

84
Q

Software Development Life Cycle (SDLC)

A

process of developing information systems or applications through the completion of defined steps or phases

85
Q

Spiral Model

A

a methodology to design and build software applications by creating prototypes and risk identifying

86
Q

Stock Exchange Automated Quotations (SEAQ)

A

quote driven trading system

87
Q

Stock Exchange Electronic Trading System (SETS)

A

trading operating system operated by the LSE

88
Q

Stock Record

A

system of double entry book keeping that accounts on one side for ownership and other side is location

89
Q

SWIFTNet Link

A

software products that ensures technical interoperability between SWIFT users by providing minimal functionality required to communicate over these services

90
Q

SWIFTNet PKI

A

digital certificates to provide the highest levels of authentication of institutions, end users and servers

91
Q

Systematic Internaliser

A

under MiFID rules, a firm that executes orders from its clients own account

92
Q

Trade Agreement

A

the process of trade confirmation, affirmation and allocation

93
Q

Trading Book

A

portfolio of financial instruments held by a brokerage or bank
bought and sold to facilitate trading fort their customers, to profit from spreads or to hedge against various types of risk

94
Q

Value at Risk

A

measure of how the market value of an asset/portfolio is likely to decrease over a period of time under usual conditions

95
Q

Value Date

A

the date that a deal is expected to settle

96
Q

Waterfall model

A

Methodology to manage the designing and building of software applications that explains that no overlaps
output is the next stage input

97
Q

XBRL

A

An XML message standard for exchanging info about corporate data such as balance sheets and PnL between company and its auditors

98
Q

XML

A

Creates common information formats and share both the format and data on the www

TIM (13 decks)

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