Undertaken on behalf of the client on a best endeavours (and best execution) basis. The client bears the risk (profit or loss) of price movements between giving and completing the order.

Broker/dealer who acts as agent between market makers and investors.

Tax formerly paid by companies on dividends distributed to shareholders

=> Mortgage loan whose interest rate is raised or lowered periodically in accordance with a stated reference interest rate. => ARM refers both to the original homeowner loan and to a securitised pool of such loans.

Contributions over and above a member’s contractual contributions to a pension plan, enabling him or her to accrue additional benefits.

Professional who advises on financial issues relating to risks, probabilities and mortality, most frequently in relation to the financing of pension plans and insurance companies.

=> Investment strategies targeting a positive return in absolute terms => Rather than relative to an index or other benchmark. => These strategies avoid construction limitations imposed by the measurement against a specific benchmark. => Often also referred to as cash plus funds.

=> Highest rating assigned by a number of credit rating agencies, => Indicating the relative security of an issuer of debt. => Usually accorded to quasi government and large multinational corporate borrowers => Highest Level Of Safety => Lowest level Of Deafult