DICTIONARY

Building Society industry consists of financial institutions owned by its members and focuses on savings deposits and lending its deposits for mortgages.

Commercial Bank industry consists of financial institutions that primarily accepts deposits, provides checking account services, and lends to commercial and individual borrowers.

Cooperative Bank industry consists of financial institutions that provide traditional banking services and is owned and run by their members

Cover Bond Issuer industry consists of legal separate entities specifically set up for issuing debt securities, which are collateralised against a pool of assets that, in case of failure of the issuer, can cover claims at any point of time.

Credit Card industry consists of financial institutions that creates a temporary revolving line of credit for cardholders and processes card transactions on a both a consumer and commercial level. 

Credit Institution industry consists of financial institutions that take repayable deposits and collect payments.

Development Bank industry consists of private/commercial financial institutions that finance projects which generate economic development.

Financial Services industry consists of entities created by corporations that provides a broad range of financial services for clients.

Investment Bank industry consists of financial institutions that provides various financing and investment related services, such as underwriting, mergers and acquisitions, broker services and so on.

Islamic Bank industry consists of financial institutions that operate according to the principles of islamic banking and finance.

Leasing industry consists of financial institutions that provide financing against leased collateral assets, such as Equipment.

Merchant Bank industry consists of financial institutions that focus on international trade by assisting their clients with underwriting and commercial loans to finance commodity trading.

Mortgage industry consists of financial institutions that focuses on underwriting and selling mortgages.

Municipal Bank industry consists of financial institutions that are funded by local government and provides traditional banking services.

Non Bank Conduit industry consists of financial institutions that are specific Conduits which fund invested long term off balance assets by issuing short term debt and other instruments.

The online banks industry consists of financial institutions that exist solely online

Private Bank industry consists of financial institutions that focus on private individual banking and financial services to “high net worth individuals.” 

Public Bank industry consists of commercial financial institutions that are fully owned by the state but not guaranteed by the state.

Savings Bank industry consists of financial institutions that gather savings deposits and the excess deposits are lent to borrowers.

Universal Bank industry consists of financial institutions that provide both commercial and investment banking services, as well as other financial services.

Vehicle Financing industry consists of financial institutions that focuses on financing vehicles and hold liens on vehicles until paid off.

Is a short-term debt instrument issued by a corporation that is secured by a bank.

1% change = 100 basis points, and 0.01% = 1 basis point

A market condition in which the prices of securities are falling and widespread pessimism causes the negative sentiment to be self-sustaining. As investors anticipate losses in a bear market and selling continue, pessimism only grows. Although figures can vary, for now, a downturn of 20% or more in multiple broad markets.

A standard against which the performance of a security can be measured or priced.

A measure of the volatility, or systematic risk, of a security or a portfolio in comparison to the market as a whole. Beta is used in the capital asset pricing model (CAPM), a model that calculates the expected return of an asset based on its beta and expected market return. Beta is calculated using regression analysis.

A treasury bill is a short term negotiable debt instrument issued by a sovereign that promises to pay the bearer or registered owner an amount or a number of amounts in the future.

Companies primarily engaged in the research, development, manufacturing and/or marketing of products based on genetic analysis and genetic engineering. Includes companies specializing in protein-based therapeutics to treat human diseases.

A negotiable debt instrument that promises to pay the bearer or registered owner an amount or a number of amounts in the future.

A type of day count convention specific to bonds, the bond basis is a factor used to calculate accrued interest on a bond since the last coupon payment. For the bond basis, the fraction of days in a month over days in a year is 30/360, a fraction which, while slightly inaccurate, is easy to use for

a market where issuers borrow money by selling debt instruments.

A market organized for the purpose of buying and selling securities, commodities, options and other investments. Commonly known as a stock exchange. Today the word “bourse” is more commonly associated with the Paris Stock Exchange/ the Paris Bourse, or Euronext Paris.

A business unit located at a different address than the Head Office. Branches are identified by square brackets, f.e. [Paris].

Owners and operators of television or radio broadcasting systems, programme makers, television and radio stations.

A period of generally rising prices. The start of a bull market is marked by widespread pessimism; at this point the “crowd” is the most “bearish”. The feeling of despondency changes to hope, optimism and eventually euphoria, causing prices to rise as overall demand increase.

Repurchase and additional issuance of outstanding debt securities by an issuer.

A bond that can be redeemed by the issuer prior to its maturity. The issuer has the right, but not the obligation, to buy back the bonds from the bond holders at a defined price and call date.

A model that describes the relationship between risk and expected return. This is used in the pricing of risky securities. CAPM says that the expected return of a security or a portfolio equals the rate on a risk-free security plus a risk premium.

An increase in the value of a capital asset that gives it a higher worth than the purchase price. The gain is not realized until the asset is sold. A capital gain may be short term (one year or less) or long term (more than a year) and must be claimed on income taxes.

The standardized requirements in place for banks and other depository institutions, which determines how much liquidity is required to be held for a certain level of assets through regulatory agencies.

Companies providing vehicle rental and taxi services.

A Catastrophe Bond or Cat Bond is a bond that exposes the investor to a specific insurance risk.

Category or Structure is a classification that is given to a Debt Instrument by a market participant.

A negotiable unsecured, short-term debt instrument typically issued by a bank that promises to pay the bearer or registered owner a sum or a number of sums in the future. In other words, a bank borrowing that in principal can be bought by and sold to anyone and which normally pays interest on a regular

A short term negotiable debt instrument that promises to pay the bearer or registered owner an amount in the future.

A negotiable debt instrument that promises to pay the bearer or registered owner an amount or a number of amounts in the future.

The Chemicals Industry sector comprises companies that primarily produce industrial chemicals and basic chemicals.

a firm taking an underwriting role in a primary offer of securities.

A short for Contingent Convertible bond which is a debt instrument used mainly by European financial institutions.

A type of Asset Backed Security (ABS) and some types are Mortgage Backed Securities as well (MBS). Can be thought of as a promise to pay investors in a prescribed sequence, based on the cash flow the CDO collects from the pool of bonds/mortgages/ other assets that make up the CDO.

A short term negotiable debt instrument that promises to pay the bearer or registered owner an amount in the future.

A basic good used in commerce that is interchangeable with other commodities of the same type. Commodities are most often used as inputs in the production of other goods or services. The quality of a given commodity may differ slightly, but it is essentially uniform across producers.

The Computer Hardware Industry Sector consists of businesses that manufacture computer semiconductors and other components that make a computer. This sector is different from the Information

Companies that manufacture construction materials including sand, clay, cement, concrete and bricks.

A consumer price index (CPI) measures changes in the price level of a market basket of consumer goods and services purchased by households. It is one of several price indices calculated by most national statistical agencies. The annual percentage change in a CPI is used as a measure of inflation.

The Consumer Products – Durables Industry Sector consists of businesses that manufacture goods and or preform Research and Development that will be used by an individual or a household.

In the Capital Market Data model we group entities that through ownership, interest or management structure belong to the same organisation. Typically these entities use the same or a similar marketing name.

Manufacturers of metal, glass or plastic containers, paper and cardboard containers and packaging.

A legal entity that is incorporated through registration and can either be owned or not owned by the State.

Any interest payment made or due on a bond, debenture or similar (no longer by a physical coupon).

Coupon Type classifies how a debt instrument's coupon is structured.

A covered bond is a corporate bond with one important enhancement: recourse to a pool of assets that secures or "covers" the bond if the originator becomes insolvent.

The current size of the Credit Linked Note market is USD200bn.

From a corporate point of view, it is the broad market for companies looking to raise funds through debt issuances. The credit market encompasses both investment-grade bonds and junk bonds, as well as short term commercial paper.

The risk of loss due to a receiver of financing non re-payment of a loan or other line of credit.

A nine-character code that identifies a North American financial security for the purposes of facilitating clearing and settlement of trades.

A dynamic network created by data points

Determines how interest accrues over time

All debt instruments that fall into the Debt Capital Market universe.

In the Capital Market Data Model we make no distinction between Commercial Paper, Certificates of Deposit, Bills, Bonds, Notes or MTNs. Collectively these are called Debt Instruments.

A security whose price is dependent upon or derived from one or more underlying assets. The derivative itself is merely a contract between two or more parties. Its value is determined by fluctuations in the underlying asset. Most common underlying assets include: stocks, bonds, commodities, currencies and interest rates.

Are the markets of those nations, where the industrial base is less developed.

Distributors and wholesalers of general merchandise not classified elsewhere. Includes vehicle distributors. Part of the Retailing Industry Group.

Companies providing a range of services such as home security, legal, personal, renovation, weddings & funerals, educational services.

Companies providing a diverse range of financial services and providers of specialized financial services. Includes credit agencies, stock exchanges and specialty boutiques.

The Diversified Industrial Industry Sector comprises companies that produce industrial products, materials and services. 

The Diversified Services Industry Sector comprises companies that provide residential services, home security, legal services, personal services, renovation and interior design services, consumer auctions and wedding and funeral services.

A type of bond that is issued and traded in a domestic bond market.

A DC or Dual Currency Bond is a negotiable debt instrument that exposes the investor - in exchange for a higher return - to a specific Foreign Exchange risk.

The role of a duration manager is to stabilise the market during the setting of the bond’s issue price, by acting as a counterparty on behalf of all the syndicate members for switch orders presented by the investors (orders presented on the condition of simultaneous sale of another security at a certain minimum price).

The portion of a company’s profit allocated to each outstanding share of common stock. Earnings per share serves as an indicator of a company’s profitability. EPS = [(Net Income) – (Dividends on Preferred Stock)]/(Average Outstanding Shares)

The Education Industry Sector comprises companies providing educational services, either on-line or through conventional teaching methods. 

Companies providing educational services, either on-line or through conventional teaching methods.

Companies that produce or distribute electricity. Includes both nuclear and non-nuclear facilities.

The Electronic and Electrical Equipment Industry Sector consists of companies that primarily manufacture electronic supplies and equipment (wires, transistors, insulators, electric motors, batteries, etc.) This sector does not include Computer Hardware producers.

Emerging capital markets are a type of developing capital market.

Emerging market bonds are bonds issued by/in the currency of an emerging market country.

The employment cost index (ECI) is a quarterly economic series detailing the changes in the costs of labor for businesses in the United States economy. The ECI is vital in that it gives an indication of whether employment cost changes are rising or falling, thus measuring inflation of wages, and employer-paid benefits.

The Energy Industry Sector consists of companies that partake in the manufacturing, distribution, and commercial sale of energy. This sector does not include Oil and Gas manufacturers or Electricity producers.

Comprising of companies that design, develop and manufacturer heavy duty trucks, construction equipment and related parts, non-military shipbuilding, agricultural machinery and related parts, industrial machinery and components.

An Entity is a body recognised by law as legally existing in accordance with an internationally agreed standard

The value of an asset after all liabilities have been paid or a stock or any other security representing ownership interest.

Bonds that comply with ESG standards

a bond issued in a form that allows it to be traded in both the international Bond Market

Bond targeted at cross-border distribution

Contrary to the name, Eurodollars have little to do with the Euro or European countries. They are U.S. denominated deposit in banks outside of the United States. Relatively free of regulation. Eurodollar market has expanded largely as a way of circumventing regulatory costs.

An ETF is a marketable security that tracks an index, a commodity, bonds, or a basket of assets like an index fund. Unlike mutual funds, ETFs trade like a common stock on a stock exchange. ETFs experience price changes throughout the deal as they are bought and sold. ETFs experience price changes throughout the day.

An administrative division, managed and controlled by the State as a Federation and part of the public sector

Financial Institutions Group

The Financial Corporate Industry Sector consists of entitles that are serve as finance companies providing financial services, including intergroup borrowing and lending.

Owners and operators of supermarkets, general food retail stores, drug retail stores and pharmacies.

Companies that produce and process agricultural products to make food and/or drinks.

Industry that comprises owners and operators of supermarkets selling food and consumer staple products, general food retail stores, drug retail stores and pharmacies.

Producers of agricultural and animal products. Processors and producers of packaged foods.

a bond issued by a foreign borrower in the currency of the country in which it is sold

Comprises companies whose main line of business is manufacturing timber to produce desired wood and paper products.

Those that regularly visit the capital markets for financing.

Frontier capital markets are a type of developing capital market.

Bonds issued in the domestic market or currency of a frontier country.

An instrument that can be substituted for something of equal value.

A contract between two parties to buy or sell an asset for a price agreed upon today (the futures price) with delivery and payment occurring at a future point (the delivery date). Considered a derivatives product because it is a function of an underlying asset.

Companies whose main charter is to distribute and transmit natural and manufactured gas.

The General Retailer Industry Sector consists of companies that sell finished products to end consumers. This sector does not include Food and Drug Retailers.

"CMDportal "Generic Ratings©" are worked out as the lower average of the issuer’s credit ratings available to CMD. Where relevant, separate "Generic Ratings©" are calculated for senior and subordinated debt as well as for debt issuance programme ratings.

Identifies the country whose law governs the Support Type. The Date of Support Agreement identifies the date on which the Support Type was established.

Entities that manage the financial system including the currency and reserves of a country through monetary policy and bank / financial institution supervision regulations.

Companies owned by the State and in which the State has significant influence.

Public financial institutions that finance projects which generate economic development.

Entities that issue debt which is guaranteed by the State.

Entities of the State that have jurisdiction over a particular county, area or city, town and can set local regulations.

Entities of the State that have jurisdiction over a particular region or province and can set regional regulations.

Entities that are the State.

Entities that have been created by a treaty for a specific purpose and acts on behalf of a number of States.  

Entities that act as part of the State.

Bonds that raise finance for an environmental project.

A collection of one or more legal entities that through ownership or other types of control belong together.

The Industry classification on the CMD Portal refers to the type of entity. The categories are: Corporate, Bank, Fund, Government, Insurance, Structured Finance Vehicles and Unknown.

Corporates include all private profit maximising entities except those that we categorise as Banks. The defining characteristic of a Bank in our categorisation is that it has a banking license.

The Government category contains the state debt issuers as well as various SSAs (State and Supranational Agencies) such as the World Bank and regional development bodies.

The Health Industry Sector consists of companies that provide medical services (consultation, surgery, insurance) and manufacture medical equipment.

The Household Goods and Textiles Industry Sector consists of companies that design and manufacture products for consumers and households such as apparel, accessories, luxury goods and footwear.

Hybrid Bonds are the blend between equity and debt securities

Companies that are diversified industrials, with business activities in three or more industrial sectors.

Comprises companies that provide environmental and facilities maintenance services.

The Industry Sector is a classification that describes the activity of an entity within the economy. The classification is based on where the relevant entity derives the majority of its revenue.

A classification of the main line of business of an entity. This sits at a level below the Group Industry, which in CMD’s terminology, categorises the type of organisation, such as corporate, bank and government. As such, the list of Industry sectors varies for each Industry.

The Information Technology Industry Sector consists of companies that provide consulting services (writing software, designing databases, data management, etc.) and business outsourcing processes.

Organizations which pool large sums of money and invest those sums in securities, real property and other investments. Includes banks, retirement/ pension funds, hedge funds, investment advisors and mutual funds. Their role in the economy is to act as highly specialized investors on behalf of others.

Companies that provide insurance services and life assurance services and products. 

The price paid for obtaining, or the price received for providing, money or other assets in a credit agreement, calculated as a fraction of the full amount or value obtained or received. In the Capital Market Data model 8% is expressed as 8.

is issued by foreign companies and sold domestically.

A bond is considered investment grade or IG if its credit rating is BBB- or higher by Standard & Poor's and Fitch or Baa3 or higher by Moody's. In general, these are bonds that are judged by the rating agencies as likely to meet payment obligations of interest and principal on maturity. In the Capital Market

Meetings outside a bond offering

An International Securities Identification Number (ISIN) uniquely identifies a security. Its structure is defined in ISO 6166. Securities for which ISINs are issued include bonds, notes, certificates of deposit, commercial paper, stocks and warrants. The ISIN code is a 12-character alpha-numerical code that...

Entity that is able to issue, register and or sell securities for the purpose of financing its operations.

The main underwriter or lead manager in the issuance of new equity, debt or securities instrument. In investment banking, the bookrunner is the underwriting form that “runs,” or who is in charge of the books. More than one bookrunner can manage a security issuance, in which case the involved parties are called “joint bookrunners"

Companies providing lease financing services.

Legal Entity Identifier or LEI is a unique identity reference code allocated to a body recognised by law as legally existing in accordance with an internationally agreed standard administered by the Regulatory Oversight Committee (ROC) of the Global Legal Entity Identifier System (GLEIS).

Comprises owners and operators of hotels, resorts, casinos and gaming facilities, betting services, cruise-ships, travel agencies, tour operators, leisure facilities, restaurants, bars, pubs, fast-food or take-out facilities and services.

A leveraged loan is a loan made to an entity that already has either considerable amounts of debt, a low credit rating or both.

London Interbank Offer Rate. An interest rate at which banks can borrow funds, in marketable size, from other banks in the London Interbank Market. The world’s most widely used benchmark for short-term interest rates. It’s important because it is the rate at which the world’s most preferred borrowers are based.

Order of repayment in the event of a sale or bankruptcy of the issuer....

Companies whose main line of business is manufacturing industrial, construction and agricultural machinery and parts.

The Manufacturing Industry Sector consists of companies that manufacture goods using raw materials to create a finished product.

Companies providing advertising, marketing or public relations services.

Companies producing film, television or radio programmes and related services.

A negotiable debt instrument that promises to pay the bearer or registered owner an amount or a number of amounts in the future.

MTNs are typically issued under the terms of a standardised documentation and issuance arrangement   called Medium Term Note Programme. Distinctions are being made between programmes that operate in different markets, like for example a US domestic market MTN programme or a Euro MTN programme.

Companies that manufacture products made from Metal and Plastic to be used for packaging.

Companies engaged in production or extraction of metals and minerals including, nonferrous metal mining and precious metals.

Resident credit institutions under EU law

Central Bank, Credit Institution, Money Market Fund and Other Institution

A segment of the Debt Capital Market, in which vanilla, fixed and floating rate Commercial Papers, Certificates of Deposits, Bills and other notes with maturities up to one year, are traded.

A negotiable debt instrument that promises to pay the bearer or registered owner an amount or a number of amounts in the future.

Utility companies with significantly diversified activities in addition to core Electric Utility, Gas Utility and/or Water Utility operations.

An urban administrative division, managed and controlled by the State as a municipality and part of the public sector.

Includes all issuers from Sweden, Norway, Denmark, Finland and Iceland.

A negotiable debt instrument that promises to pay the bearer or registered owner an amount or a number of amounts in the future.

The Oil and Gas Industry Sector consists of companies that explore, extract and refine oil and gas. This sector does not include gas distribution.

Manufacturers of timber and related wood products and all grades of paper.

A legal entity regulated as a partnership that not owned, managed or controlled by the State and is part of the private sector.

A Perpetual Bond is a Debt Instrument with no Maturity Date

Companies that are primarily engaged in the production and or research and development of pharmaceuticals and veterinary drugs.

In a Power Reverse Dual Currency Bond (PRDC) the coupons rise as the foreign currency depreciates.

Also referred to as "Par Amount", "Issue Amount", or "Total Amount", is the sum the issuer has to repay to investors on maturity or when the bonds are called. In the Collaborative Market Data Model this is expressed as a number.

Companies providing commercial printing services, including printers primarily serving the media industry.

A private placement is the offering of an MTN, Note or Bond through a single dealer and typically with a single investor, as opposed to offering bonds through a syndicate of banks.

A Bank that is not owned, managed or controlled by the State and is part of the private sector.

A Building Society that is not owned, managed or controlled by the State and is part of the private sector.

A legal entity that is not owned, managed or controlled by the State and is part of the private sector.

A Fund that is not owned, managed or controlled by the State and is part of the private sector.

An urban administrative division, managed and controlled by the State as a Province and part of the public sector.

A legal entity, constituted as a corporate and licensed to operate as a bank, which is owned, managed and or controlled by the public through freely transferrable shares.

A legal entity, constituted and licensed as a Building Society that is owned by its members as a mutual organisation.

A legal entity, constituted as a corporate, that is owned, managed and or controlled by the public through freely transferrable shares.

A legal entity, constituted as a corporate and licensed to operate as a fund, which is owned, managed and or controlled by the public through freely transferrable shares.

A QIBs manages at least USD100m in assets from 3rd parties. For a bank or savings and loans thrift to qualify as a QIB they need to have a net worth of at least USD25m. 

Order of repayment in the event of a sale or bankruptcy of the issuer.

The Real Estate Industry Sector consists of companies that build or acquire land, buildings, homes, and so on, either to rent, lease or sell for profit.

Debt Instruments sold under Regulation S (Reg S) of the United States Securities Act, are sold outside the USA and do not require registration with the SEC provided they adhere to specific conditions, including adequate protective measures to prevent the sale to US retail investors.

A Relationship expresses how two entities are connected.

The Religion Industry Sector consists of companies that are in the business of spreading religious beliefs.

The Re-offer price is the price at which an underwriting syndicate of a debt issue sells the bonds to public investors. The syndicate will have purchased the bonds from the issuer for less than the Re-offer price, removing the issuer’s risk of not selling the entire issue.

The sale and repurchase of a debt instrument for typically a short period of time.

The Restaurants, Pubs and Beverages Industry Sector consists of service businesses that provide food and beverages to customers through various outlets.

A Reverse Dual Currency Bond (RDC) is a negotiable debt instrument which does the reverse and pays a foreign interest rate in the investor's domestic currency.

a non-USD denominated bond issued by a borrower from the United States in a non-US foreign bond market

Meetings within the context of a bond offering

Debt Instruments sold under Rule 144A of the United States Securities Act can be offered in the U.S. to qualified institutional buyers (QIBs).

A bilateral loan under German documentation.

A security is a negotiable debt or equity instrument.

Companies providing security and protection services, including correctional facilities, armoured transportation & guarding.

A Debt Instrument sold by a primary market dealer that belongs to the same Group as the Issuer

firms appointed by a lead manager to sell bonds in a primary offer on a non-underwritten basis. Selling group member firms are not credited for league tables. 

The Lead Manager is a firm taking a lead role, solely or jointly, in managing and underwriting a primary offer.

Order of repayment in the event of a sale or bankruptcy of the issuer....

Bond structuring arrangement

Companies providing various financial services, which are not banks, servicing a niche market. 

An administrative division, managed and controlled by the State as a sovereign and part of the public sector.

An administrative division, managed and controlled by the State as a sovereign and part of the public sector.

An entity whose debt instruments are guaranteed by the State.

Companies producing iron, steel and any other type of metal and related products

Definition can be found on the following link, GBP Bond Market.

Structure or Category is a classification that is given to a Debt Instrument by a market participant.

Debt instrument with an option.

Order of repayment in the event of a sale or bankruptcy of the issuer....

Instruments structured to comply with Sharia Islamic law.

Expresses if an entity is financially supported by another entity.

identifies which entity financially supports the current entity. 

Companies providing labour services such as commercial cleaning services, dining & catering services, equipment repair services, industrial maintenance services, storage & warehousing, transaction services and other business support services.

Identifies how an entity is financially supported by the Support Entity/Company.

Comprises of the process of research, design, and developing various new products.

Companies that manufacture cellular phones, personal computers, servers, electronic computer components and peripherals.

Companies operating fixed-line telecommunications networks, cellular or wireless telecommunication services.

The Television – Communication Industry Sector consists of companies that provide television services through cable, fiber, or satellite. This sector does not include companies that produce television programmes.

The "short end of the curve" is used for expressing maturities up to 1 year.  The "belly of the curve" is used for expressing the 2y to 5y and the 5y to 10yr combined.  The "long end of the curve" is used for expressing maturities over 10 years. 

Order of repayment in the event of a sale or bankruptcy of the issuer....

Order of repayment in the event of a sale or bankruptcy of the issuer....

Manufacturers of cigarettes and other tobacco products.

The Trading Industry Sector consists of companies that acts as the intermediary, connecting manufacturers and retailers together.

Companies involved in trading and distribution of industrial equipment and products.

The Transport and Shipping Industry Sector consists of companies that focus on the logistics of moving industrial and personals goods from point A to point B for a client.

The Ultimate Parent Company is an entity that is directly or indirectly in control of the operations of another entity.

The (Unknown Bank) Industry Sector comprises of Bank that have not yet been classified by CMDportal industry sector classifications.

Companies that have not yet been classified by CMDportal industry sector classifications.

Government institution that have not yet been classified by CMDportal industry sector classifications.

Order of repayment in the event of a sale or bankruptcy of the issuer....

The Utility Industry Sector consists of companies that partake in the distribution and sale of energy or water to the final consumer.

Are zero coupon, floating rate or fixed rate.

Companies that purchase and redistribute water to the end-consumer.