The back office is the portion of a company made up of administration and support personnel who are not client-facing. Back-office functions include settlements, clearances, record maintenance, regulatory compliance, accounting, and IT services.
An EU directive designed to create a framework for authorities to manage bank failures effectively.
Basel III is a global, voluntary regulatory framework on bank capital adequacy, stress testing, and market liquidity risk.
One one-hundredth of a percent, or 0.01%.
Securities that are not registered to any particular party and hence are payable to the party that is in possession of them.
A party that is entitled to the right of ownership of property. In the context of securities, the term is usually used to distinguish this party from the registered holder (a nominee, for example) that holds the securities for the beneficial owner.
Big data refers to the large, diverse sets of information that grow at ever-increasing rates. It encompasses the volume of information, the velocity or speed at which it is created and collected, and the variety or scope of the data points being covered.
Bitcoin is a digital currency created in January 2009 following the housing market crash. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralised authority, unlike government-issued currencies.
Blockchain is literally just a chain of blocks, but not in the traditional sense of those words. When we say the words block and chain in this context, we are actually talking about digital information (the block) stored in a public database (the chain).
A bond is a contract between two parties. Companies or governments issue bonds because they need to borrow large amounts of money. They also have to pay the investors a little bit more than they paid for the bond. Bonds are usually traded through brokers and are part of a financial instrument group called ‘fixed income’.
Brexit is an abbreviation for "British exit," referring to the UK's decision in a 23 June 2016 referendum to leave the European Union.
A broker-dealer is a person or firm in the business of buying and selling securities for its own account or on behalf of its customers.
Types of bond transactions that, in economic substance, replicate reverse repos, and repos respectively. These transactions consist of a purchase (or sale) of a security versus cash with a forward commitment to sell back (or buy back) the securities. Used as an alternative to repos/reverses.