CICPA
Chinese Institute of Certified Public Accountants
CIMA
Chartered Institute of Management Accountants
CIRC
China Insurance Regulatory Commission
Circuit Breakers
Measures instituted by the major stock and commodities exchanges to halt trading temporarily in stocks and stock index futures when the market has fallen by an amount based on specified percentage declines in a specified period. For example, circuit breakers instituted at the New York Stock Exchange in spring 1998 halt stock trading when the Dow Jones Industrial Average falls 10%, 20%, and 30%, with the point settings revised quarterly on the first day of January, April, July, and October. Circuit breakers were originally instituted after Black Monday in 1987 and modified following another sharp market drop in October 1989. They are subject to change from time to time, but may include trading halts, and /or price movement limits on index futures. Their purpose is to prevent a market free-fall by permitting a rebalancing of buy and sell orders.
CIS
Collective investment schemes.
CLO
Collateralised Loan Obligation
Close-end fund
Type of fund that has a fixed number of shares usually listed on a major stock exchange. Unlike open-end mutual funds, closed end funds do not stand ready to issue and redeem shares on a continuous basis. Because the managers of closed-end funds are perceived to be less responsive to profit opportunities than open-end fund managers, who must attract and retain shareholders, closed-end fund shares often sell at a discount from net asset value.
CME
Chicago Mercantile Exchange
CMU
Central Moneymarkets Unit 【HKMA】
CNS
Continuous net settlement
COD
Cash on delivery
Commission
The broker’s basic fee for purchasing or selling securities as an agent.
Common Stock
Securities that represent an ownership interest in a corporation. If the company has also issued preferred stock, both common and preferred have ownership rights. Common stockholders assume the greater risk, but generally exercise the greater control and may gain the greater award in the form of dividends and capital appreciation. The terms common stock and capital stock are often used interchangeably when the company has no preferred stock.
Continuous auction
A form of trading where the prevailing price is determined through the instant interaction of buy and sell orders
Convertible bond
Corporate bonds that are exchangeable for a set number of common stocks at preset prices. Convertible bond are appropriate for investors who want higher income than is available from common stock, together with greater appreciation potential than regular bonds offer.
COP
Calculated Opening Price
Corporate action
A corporate action is an action taken by an entity for the purpose of giving an Entitlement to Holders of a class of the entity’s securities. Examples of Corporate Actions include rights issues, bonus issues, dividends or other payments, or offers under a buy- back scheme.
Corporate governance
A generic term which describes the ways in which rights and responsibilities are shared between the various corporate participants, especially the management and the shareholders.
CPI
Capital Protected Instrument
CPSS
Committee on Payment and Settlement Sytstems, The
CPT
Continuous Professional Training
CSDCC
China Securities Depository and Clearing Corpor-ation Limited
CSRC
China Securities Regulatory Commission
Cumulative Voting
A method of voting for corporate directors that enables the shareholders to multiply the number of their shares by the number of directorships being voted on and to cast the total for one director or a selected group of directors. A 10-shareholder normally casts 10 votes for each of, say, 12 nominees to the board of directors. One thus has 120 votes. Under the cumulative voting principle, one may do that or may cast 120 (10x12) votes for only one nominee, 60 for two, 40 for three, or any other distribution one chooses. Cumulative voting is required under the corporate laws of some states and is permitted in most others.
Current assets
Cash or other assets of the entity that would in the ordinary course of operations of the entity be consumed or converted into cash within twelve months after the end of the last financial year of the entity. Those assets of a company that are reasonably expected to be realized in cash, or sold, or consumed during one year. These include cash, U.S. Government bonds, receivables and money due usually within one year, and inventories.
Current liabilities
Obligations that are expected or could be required to be discharged on demand or within one year. In a company’s annual report, this figure shows the amount of debt due to be repaid within twelve months. Money owed and payable by a company, usually within one year.
Current ratio
A measure of liquidity that shows a company’s ability to pay its short-term debts. Current Ratio = (Current assets / Current liabilities) = number of times covered