B
Beneficiar Real/Beneficial owner – According to article 4 paragraph. (1) of Law no.656/2002 republished by “beneficial owner” means any person who owns or controls eventually the client and /or the individual person on behalf or in the interest which are realized directly or indirectly, a transaction or an operation. According to article 4 Paragraph (2) of Law no.656/2002 republished, the term “beneficial owner” shall include at least:
a) in the case of companies:
- natural person who owns or controls eventually a legal entity by holding , directly or indirectly, the whole package of shares or a number of shares or voting rights sufficient to ensure control, including bearer shares, the legal entity owned or controlled is not a company whose shares are traded on a regulated market that is subject to disclosure requirements in accordance with Community legislation or subject to standards set internationally. This criterion is considered to be met if at least 25% ownership stake plus one share;
- natural person or persons who otherwise exercise control over the administration or management bodies of a legal person;
b) for legal persons, other than those provided in lett. a), or other entity or legal arrangement which managing and distribute funds:
- individual who is the beneficiary of at least 25% of the assets of a legal entity or legal arrangement, where the future beneficiaries have already been identified;
- group of persons in whose main interest is set up or operates a legal person or entity or legal arrangement, if individuals who benefice from legal person or legal entity, is not yet identified.
- person or persons who exercise control over at least 25% of the assets of a person or a legal entity or legal arrangement.
Bid/Bid – Buying quotation on market. This quotation is formed of quantity and price.
Bilant/Account statement – Document that depicts the economic and legal patrimony of an organization at a time. Is done periodically, as law requires, and whenever is necessary.
Bilet la ordin/Promissory note – Credit instrument by which the issuer commits to pay at a certain date, an amount determined by the recipient or the person who is the legitimate holder of the title.
Bloc de tranzactionare sau Lot standard/Standard Lot – A set of financial instruments which forms a standard tranding unit.
BNR/NBR – Is the National Bank of Romania.
Bonitate/Creditworthiness – Firm capacity to meet bebt obligations.
Broker/Broker – The natural person certified by the stock exchange and authorized by F.S.A./R.N.S.C. to negotiate demands and offers and to close trades on the regulated market, exclusive in the name of a member of the exchange.
Browser/Browser – A program used to access information available on the Internet, specifically www (World Wide Web). Netscape Navigator and Microsoft Internet Explorerare are examples of browsers.
BUBID/BUBID – Average interest rate on interbank deposits, the interest rate paid by the bank for deposits is less than BUBID, ensuring a bank profit difference.
BUBOR/BUBOR – Average interest rate for interbank, the interest rate charged by a bank for loans is higher than BUBOR because of the amount collected should cover the cost of bank resources obtained from interbank loans.
Bursa/Exchange – Market of general interest, regulated and authorized, that ensures to the members and their clients generalized conditions for negotiation and risk management throught trading and clearing systems.
BVB/BSE – Short for S.C. Bucharest Stock Exchange S.A., the market operator recognized by the F.S.A./R.N.S.C. and Law 297/2004.
