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Financial lexicon

Majority shareholder

Natural or legal person holding a majority of the shares or voting rights.

Manager

Physical person managing the portfolio of a unit trust or an investment trust.

Margin account

Keytrade Bank's margin account is made out of a credit line, given to you according to the value of your portfolio and enabling you to invest in financial instruments of your choice.
This product is well known in the US and also known as 'Lombard-credit' or 'effectenkrediet' -'crédit sur titres'.

Market capitalisation

Assessment of the market value of a company listed on the stock exchange, at a given time. This is calculated by multiplying the share price by the number of securities in circulation.

Market Maker

Financial institution acting as the other party on certain markets and for certain securities. The aim of the market maker is to ensure minimum liquidity for a security. Towards this end, the market maker is required to propose purchasing and selling prices.

Market order

This order is without a price limit, which ensures full execution but does not control the execution price. This type of order is not recommended on illiquid securities.

Market sheet

Quotation sheet featuring all orders (quantity + price) for a security.

Minority shareholder

Individual or group of individuals holding only a small proportion (this has to be less than half) of shares or voting rights in a company.

Momentum

Mathematical tool indicating the speed at which prices are moving. When it is positive (negative) it indicates an upward (downward) acceleration in prices. The changeover from zero may be interpreted as a changing trend and provides a signal to buy (in the event of an upward transition) or to sell (for a downward transition).

Moving average

The moving average is a technical assessment instrument. It takes the form of a curve where each point represents the average for prices over a period defined as a number of days. It is used to discover trends and provide signals to buy and sell.

MT

Medium term. Less than six months.