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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
Central Securities Depositories regulation
harmonises the authorisation and supervision of EU Central Security Depositories as well as certain settlement aspects
26
Data Depository
centralised repository of info about data such as meaning, relationships to other data, origin, usage and format
27
Data Protection Act
how personal data should be managed to protect its integrity and to protect the rights of the persons concerned
28
Data replication
process of sharing info to ensure consistency between redundant resources such as software or hardware components
29
Delivery Versus Payment
simultaneous delivery of securities by seller and the payment of sale by buyer on settlement date
30
Depot
Account with settlement agent which is used to record transactions and balances of securities
31
Designated Investment Exchange
outside UK and not a regulated market in the UK
32
Direct Market Access
automated process of routing a securities order directly to an execution venue, therefore avoiding intervention by a 3rd party
33
Distributed Denial of Service (DDoS)
an attempt to make a computer or network resource unavailable to its intended users
34
Distributed Ledger
a database that is shared and synchronised across multiple sites, firms or geographies
35
distributed system
configuration which contains a number of hardware elements which are connected by transmission technology
36
Depository Trust and Clearing Corporation (DTCC)
American post trade financial services company providing clearing settlement services to financial markets
37
End user development
methodology to manage the designing and building of software applications
38
FIX protocol
open message standard controlled by no single entity
39
Follow the Sun Model
help desk that work in different locations to give constant support
40
Fountain model
methodology that can have overlaps when designing and building software applications
41
Free of Payment
A settlement methodology where the movement of cash and movement of securities are not linked to one another
42
Friend Shoring
outsourcing activities to countries that are friendly with firms home country
43
General Ledger
aka nominal ledger main accounting record of a business using double entry book keeping
44
Hybrid Systems
uses both order queues and market makers
45
Infrastructure as a Service (IaaS)
Cloud computing model where the provider offers basic infrastructure such as network, servers, storage and processing power
46
International Bank Account Number (IBAN)
bank accounts identifier to allow cross border transactions with reduced risk
47
Investor Self Servicing
allows investors to service themselves without speaking to anyone which includes websites, applications and voice recognition
48
International Securities Identification Number (ISIN)
code that represents company's securities
49
Iterative/Incremental
methodology to design and build software buy trying to publish an iteration to the market without any bugs
50
Joint Application Development (JAD)
Methodology to design and build software by involving the end user and having successful workshops
51
Legal Entity Identifier (LEI)
unique global identification code that enables identification of all legal entities
52
Machine Learning
discipline of AI that allows technology systems to automatically learn and improve from experience without being explicitly programmed
53
Malware
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
Mark to Market
accounting procedure in where assets are recorded at their current market value
55
Market Maker
A sell side firm that has accepted the obligation to quote both a buy and sell price in a financial instrument
56
Matching Engine
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
Multi Lateral Trading facility
system that brings together multiple parties that are interested in buying and selling financial instruments
58
Near Shoring
offshoring to lower cost foreign locations but are close to customer country
59
Non clearing member
members of futures and options exchange but not its associated clearing house relies on general clearing members
60
Nostro
account within a settlement agent which is used to record transactions and balances in cash amounts
61
Novation
substitution of one party to a contract by another, happens with central counterparty
62
Order driven system
exchange trading system without market makers submit orders to a system while another firm submits sell orders
63
Organised Trading Facility (OTF)
not an MTF or regulated market operator
64
Platform as a Service (PaaS)
Cloud Computing model where the provider offers infrastructure like IaaS but will also provide security
65
PRINCE
a methodology to manage projects
66
Project Sponsor
the senior executive who instigated a business change and is responsible for its success
67
PTM Levy
on orders over £10,000 - charge is £1
68
Quote driven systems
market makers produce 2 way prices
69
Rapid Application Design
methodology to manage designing and building of software applications by making it as quick as possible
70
Recognised Clearing house
a clearing house that is recognised by the FCA
71
Recognised Investment Exchange (RIE)
investment exchange in the UK that is recognised by the FCA
72
Recognised Overseas Investment Exchange (ROIE)
Outside Uk but is recognised by FCA
73
Reference Data
Store of info that is used to determine the appropriate actions necessary when processing a trade
74
Reference Data Repository
system that consolidates a firms view of reference data and feeds it to all the others systems in the configuration
75
Regulatory Trade Reporting
An obligation to make certain inscape transactions public
76
Relational databases
collection of data in a table that can be reassembled in many different ways
77
Repo
sale and repurchase agreement mostly with gov bonds
78
Request for Proposal
invitation for suppliers through a bidding process to bid on specific products or services
79
Senior Manager and Certification regime
makes individuals personally responsible for key aspects of firm activity
80
Senior Responsible Officer
executive responsible for ensuring that a project or programme of change meets its objectives and delivers projected benefits
81
Service Level Agreement (SLA)
part of a service contract in which a certain level of service is agreed on
82
Settlement Date
date a deal actually does settle
83
Software as a Service (SaaS)
cloud computing model where the provider offers infrastructure (IaaS) and security (PaaS) but also offer their application software
84
Software Development Life Cycle (SDLC)
process of developing information systems or applications through the completion of defined steps or phases
85
Spiral Model
a methodology to design and build software applications by creating prototypes and risk identifying
86
Stock Exchange Automated Quotations (SEAQ)
quote driven trading system
87
Stock Exchange Electronic Trading System (SETS)
trading operating system operated by the LSE
88
Stock Record
system of double entry book keeping that accounts on one side for ownership and other side is location
89
SWIFTNet Link
software products that ensures technical interoperability between SWIFT users by providing minimal functionality required to communicate over these services
90
SWIFTNet PKI
digital certificates to provide the highest levels of authentication of institutions, end users and servers
91
Systematic Internaliser
under MiFID rules, a firm that executes orders from its clients own account
92
Trade Agreement
the process of trade confirmation, affirmation and allocation
93
Trading Book
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
Value at Risk
measure of how the market value of an asset/portfolio is likely to decrease over a period of time under usual conditions
95
Value Date
the date that a deal is expected to settle
96
Waterfall model
Methodology to manage the designing and building of software applications that explains that no overlaps output is the next stage input
97
XBRL
An XML message standard for exchanging info about corporate data such as balance sheets and PnL between company and its auditors
98
XML
Creates common information formats and share both the format and data on the www

TIM (13 decks)

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