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GLOSSARY
BOOK ENTRY
- Underlying asset
- Amortisation of a security
- Book-entry
- Bond
- Zero coupon bond
- Government Bond
- Notional Bond
- Stripped Bond
- Exchange of debt
- Government financing capacity or need
- Maturity portfolio
- Available or registered portfolio
- Central counterparty institution
- Market makers
- Third party account
- Individual account
- Direct Accounts at the Bank of Spain
- Coupon
- Accrued coupon
- Issue
- Issue at a discount
- Management institution
- Fungibility
- Iberclear
- Interest
- Treasury Bills
- Liquidity
- Market brokers
- Forward market
- Blind market
- Futures market
- Options market
- Derivatives market
- Primary market
- Secondary market
- Borrowing requirement
- Non-residents
- Placement targets
- Government Bond
- Forward transaction
- Spot transaction
- Transaction with agreement to repurchase on demand
- Double transaction
- Simple transaction
- Open position
- Basis point
- Principal
- Reference
- Explicit yield
- Implicit yield
- Yield
- Repo
- Turnover
- Stripping
- Second tier
- Securities Clearing and Payment Service (SCLV)
- Bank of Spain Payment Service
- Simultaneous transaction
- Syndication
- System of provision of securities
- Strips
- Auction
- Third parties
- Account Holders
- Tranches (issue by)
- Transfer of securities
- Security
- Coupon Zero Security
- Security issued at a discount
- Repayment value
- Nominal value
- Maturity
- Residual Life
Accounting record which represents a set of rights over the financial content associated with a security. The person who is certified in the entries of the accounting record is presumed to own the security. The transmission of a book entry takes place by accountancy transfer, without the intervention of a public notary being necessary. The registration of the transfer is enforceable against third parties and has the same consequences as the transfer of physical deeds. The legitimation for the transfer and for the exercise of the rights derived from the securities represented by book entries can be accredited through producing certificates issued by the institutions responsible for the records. These certificates cannot be used for anything more than the accreditation of the legitimation, and it is not possible to use them as a traditional deed or to trade with them.
