Potestative Acquisition

Purchase of the remaining shares of a company by virtue of having acquired more than 90% of the voting rights of a Company as a result of a takeover bid, even if the holders do not consent to the sale.

General Meeting

Gathering of a company's interested shareholders, a representative of the holders of bonds and a representative of the holders of shares.

Competent Authorities

Persons and entities, whether public or private, which are responsible for the organization and operation of securities markets or for the control of the activities carried out therein and for compliance with the laws and regulations relating thereto.

Portfolio (of assets, securities, funds)

Set of assets (securities, real estate or money).

Certificates

Securities that entitle the holder to receive in cash the value of an underlying asset under the conditions set forth in the issuance resolution.

Quote

The price attributed to a security or security, during the process of admission to listing on the stock exchange, the title is attributed a quotation or base price. After admission to the stock exchange, the price may vary depending on demand and supply in the market.

Listing

A security is listed when it is traded on a stock exchange, in accordance with its rules, where it is given a price that varies according to demand and market supply.

Normal Trading Session

The normal trading sessions of the stock exchange are intended for the transaction of securities admitted to listing or trading in any market managed by the Stock Exchange. These are subdivided into:

Call System

• The Trading  sessions begin at 8:00 a.m. and close at 12:00 p.m., and are held every business day. This is the most used system and configures the transactions of all type of securities listed in stock exchange.

Registration System 

• Registration System Transactions begin at 8:00 a.m. and close at 12:00 p.m., and are held on every business day. This is the system that deals only with operations previously agreed upon between the stock exchange traders and the stock exchange traders purchasers and that configure the trading of large batches of representative debt securities.

Market Capitalization

Market Capitalization is the indicator used to evaluate the value of the securities market at a given time. The market capitalization is obtained by the product of the last quotation or price and the number of securities listed. This can be calculated for all securities listed on a stock exchange.

(Market) Liquidity

Liquidity refers to the extent to which a security can be turned  into cash without significant loss of value.

Dividend

Dividend is the term used to refer to the remuneration to which investors holding shares of a company are entitled to receive, which is distributed in proportion to the shares held by the shareholder. Dividend payments are made by companies.  

Turnover

Stock market liquidity indicator that relates the amount of the transactions to the market capitalization and can be determined by the quotient between these two variables.

Issuance

The transaction by which the securities are created and offered to investors who wish to acquire them. Issuance and subscription are transactions occurring in the primary market. This is opposed to the secondary market of which the best-known example is the stock exchange.

Issuer

Persons and entities, public or private, that issue securities;

Credit Institutions

Companies whose business is to receive deposits or other repayable funds from the public in order to apply them on their own account through the granting of credit.

Authorized financial intermediaries or intermediaries

Persons and entities, natural or legal, public or private, legally qualified to exercise, on a professional basis, some financial intermediation activity on the securities markets.

Investors

Persons and entities, public or private, who, by themselves or through other persons or entities, apply, temporarily or permanently, in securities the financial means they hold.

Settlement

Implementation of an operation carried out in the market, involving the delivery of the securities to the buyer (physical settlement) and money to the seller (financial settlement).

Maturity

The maturity or maturity date is the period or time during which or until which the right contained in a particular financial instrument may be exercised or is valid. The term is used not only to refer to a particular date (maturity date) as a period of time and is used, for example for bonds. 

Securities Market

All markets organized or controlled by the competent authorities and where those values are traded.

Primary Market

The securities market through which issuers issue such securities and distribute them to investors.

Market for the issue and placement of new securities in the capital market.

Secondary Market

The set of securities markets organized to ensure the purchase and sale of these securities after being distributed to investors through the primary market.

Market where securities created in the primary market are traded.

Stock Traders

All financial intermediaries legally authorized to carry out stock exchange operations.

Tender Offer

When a company or investor proposes to the generality of the investors, to buy them certain securities.

IPO

Initial Public Offering. Dispersion of the capital of a listed company for the first time..

Public Offering

Public Offering. A transaction in which a company or investment fund that will issue securities (shares, bonds or units) proposes to the generality of the investors that subscribe (buying) them.

Public Offering of Subscription seek to capture the savings of a large number of investors and thus ensure the financing of new companies created to develop large-scale economic projects or enable listed companies to make new investments by increasing Its share capital. The execution of a public offer of subscription does not necessarily imply the possibility of trading on the stock market, of the securities issued.

Exchange Offer

Exchange Offer. When a company or an investor proposes to investors generally to buy certain securities by giving other securities  in payment.

Public Offer

Public Offer for Sale. When a company or investor proposes to investors generally to sell certain securities, that is, an operation aimed at dispersing the capital of a Company on the stock exchange.

Orders

Instructions given by investors to financial intermediaries for purchase, sale, exchange of securities.

Public Subscription Companies

Companies which have part or all of their capital dispersed by the public, by virtue of having been constituted with a call for public subscription, or, in a capital increase, resorted to public subscription, or that their shares are or have been admitted for trading on a stock exchange or have been  subject of a public offer for sale or exchange.

Securities

Shares, bonds and any other that  whatever their nature or form of representation, even if they are merely book-entry, issued by any public or private persons or entities, in homogeneous sets that grant their holders the same rights, and which are Legally tradable on an organized market.