C.A./B.D.  Board of Directors – the authorized legal body in accordance with Law 31/1990 and Law 297/2004.

Calendar financiar/Financial Calendar  The financial communication calendar of an Issuer, set out to fulfill the periodical information duty.

Canale de distributie/Distribution channel  A channel through which information is, or is likely to become, publicly available; “likely to become publicly available” shall mean information to which a large number of persons have access.

Capitalizare bursiera/Capitalization  The market price of an entire company, calculated by multiplying the number of shares outstanding by the price per share.

Casa Romana de Compensatie/Romanian Clearing House – Is the clearing company in Romania authorized by the Financial Supervisory Authority (F.S.A.), former Romanian National Securities Commission (R.N.S.C), in compliance with Law No 297/2004 and R.N.S.C. Regulations No 13/2005. Therefore, RCH is the Romanian company which guarantees, settles and clears the derivative transactions.

CCB/BCH – Is the Bucharest Clearing House.

Contract for difference CFD/CFD  Is a contract between two parties, the buyer and the seller, which provides that the seller pay the buyer the difference between the current value of an asset and its value from the time of transaction (if the difference is negative, then the buyer pays, if the difference is positive, the one who pays is the seller). CFDs allow investors to take long positions (if a rise in price is expected) or short (if a downfall in price is expected) and, unlike futures contracts, have not set any expiration date. Contracts are made on the basis of “leverage effect” with margins usually from 1% to 30% of the notional underlying asset.

Clasa de valori mobiliare/Class of securities  The amount of securities (stocks, bonds, securities, etc.) which have the same terms and characteristics (value, voting rights and dividendpayment of preemption rights – for action – and value, price, interest rate, duration/maturity, conditions of redemption, repayment plan, conversion rights – for bonds.

Client/Client  Any natural or legal person who has an account opend to an intermediary, and it provides under a contract financial investment services and/or ancillary.

Client de retail/Retail client  The client who is not a professional client.

Client profesional/Professional client – The client who has the experience, knowledge and ability required to take investment decisions and assess the risks involved, for being a professional, the client must fall within the categories specified in the regulations issued by F.S.A./R.N.S.C  and meet the criteria in the same regulations, according to European standards.

Comision/Commission – Perceived amount by S.S.I.F. for intermediation services for financial instruments.

Coeficientul Beta/Beta Coefficient – Measuring the volatility of individual financial securities compared with a group standard, taken as a unit, any title with a financial high beta coefficient is more volatile than the market and any financial title with a low beta coefficient indicates a slower reaction than market’s variations.

Compensare/Netting  The conversion into one net claim or one net obligation of all claims and obligations resulting from transfer orders which a participant or participants either issue to, or receive from, one or more other participants with the result that only a net claim can be demanded or a net obligation owed.

Conducator/Senior manager  The person or persons who effectively direct the business of the securities financial services company.

Consiliul Bursei/Board of Governors  Bucharest Stock Exchange Board of Governors.

Consultant pentru investitii/Investment advice  The provision of personal recommendation to a client, either upon its request or at the initiative of the investment firm, in respect of one or more transactions relating to financial instruments.

Cont/Account – A set of financial instruments traded on the BSE, used in the trading activity (registration and management of orders, transactions).

Cont asistat/Assisted Account  In this type of account, the intermediary can not perform any operation in the client’s portfolio account without his consent, be resumed on hisinforming on possible operations that can be made.

Cont comun de investitii/Joint investment  An investment business carried out for the account of two or more persons over which two or more persons have rights that may be exercised by means of the signature of one or more of those persons.

Cont Client/Client Account – Account of exchange member records, which provide the amounts, values and assets of the client and his obligations and rights acquired in the transactions.

Cont de marja/Margin account – Is the account which highlights the funds and/or financial instruments established in order to guarantee open positions and acquired rights and obligations.

Cont de pozitie/Account Position Account opened in the electronic clearing and settlement clearing members/non clearing members and/or their clients that are highlighted contracts purchased and/or sold, as well as the open positions in financial instruments as a result of the conclusion of transactions.

Cont discretionar/Discretionary account  A type of brokerage account in which the intermediary is authorized by the client to performe all operations related to portfolio management (buyng and selling securities).

Cont Global/Global account  Financial instruments account opened by a Participant/Custodian agent, in which are registered financial instruments held by the clients whose mandatory is the respective Participant/Custodian agent.

Cont grup in sistemul B.V.B./Group account  Work account used in an order which allows, through the subscription and allotment mechanisms, to complete in one control all the trading operations representing common price characteristic afferent to the component individual accounts.

Cont Individual/Individual account  Financial instruments account opened by a Participant, in the name of a client, defined according to the F.S.A./R.N.S.C. regulations.

Cont initiat sau Insider/Initiated Account or Insider  A financial instruments account held by a client in the following situations: (1) having access to confidential and/or privileged information regarding an Issuer whose financial instruments are listed on the BSE; (2) who is or has been in the last year a major shareholder of at least one of the listed companies on the BSE. The categories of relevant persons are stipulated in the F.S.A./R.N.S.C. regulations.

Cont institutie/Institution Account or Institution – A financial instruments account held by credit institutions, open-end or closed-end investment funds, investment firms, venture capital funds, fund management companies, pension funds, depository institutions, insurance companies, custodian agents, financial advisors, restructuring funds, governmental and non-governmental institutions with an impact on the capital market, other entities qualified as sophisticated investors by the F.S.A./R.N.S.C.

Cont persoane relevante sau Staff/Relevant persons Staff Account  The account opend at IF on behalf of administrators, managers, shareholder, auditor, investment services agents, or of any other employee and/or collaborators of IF as well as of the persons with which they interface in order to highlight the holdings and the operations eith financial instruments and cash.

Cont propriu Participant sau House/Participant Account or House – A financial instruments account held by a participant for its own benefit. A House account can not be included in a Group account.

Contract futures/Futures Contract – Is a FD consisting of a standard contract, in accordance with the contract specifications established by BSE, creating for the contracting parties the obligation to purchase, respectively to sell a certain underlying asset at a specified future point in time (maturity date) at a price agreed at the moment of the conclusion of the respective transaction on the Financial Derivatives Market.

Contract la distanta/Distance contract – Any contract concerning financial investment services, concluded between an intermediary, as a bidder, and an investor, as recipient of financial investment services, within a sales system or financial investment services providers on distance, organized by the bidder, who, for carrying a contract, uses only one or more means for distance communication, starting with the moment when the contract was signed, until expiry.

Contract Options sau Optiune/Options Contract or Option – A standard contract, by means of which the buyer has the right, but not the obligation, to buy (Call option) or to sell (Put option) for a certain price (the premium), a certain underlying at a predetermined price(the exercise price), during the entire life of the respective option (American-style options), on certain pre-established dates(Bermuda option)or only upon expiration date (European-style options).

Contract Spot/Spot contract – Refers to a cargo that exists when the contract is signed and will be delivered and paid immediately.

Contraparte centrala „CPC”/Central counterparty „CCP” – Means a legal person that interposes itself between the counterparties to the contracts traded on one or more financial markets, becoming the buyer to every seller and the seller to every buyer.

Cotatie ferma/Firm Quotation (Quote) of the bid-ask prices of securities – The ensemble of firm quotations placed for a series of treasury bonds on the main market, by a Market Maker of the regulated spot market, enlisted for that certain series.

Cotatie Informativa/Informative Quotation (Quote)  The intention but not the obligation to buy/sell a number of financial instruments at a specified price.

Cupon/Coupon – The amount of money corresponding to the interest calculated for its coupon period, owed periodically by the Issuer (the Ministry of Economics and Finance, for treasury bonds) to the bond holders and to the payment of which they committed as specified in the contract.

Cross/Cross – Financial instruemnts trade made by an intermediary (IF) where both the buyer and the seller are its clients.

Cupon curent/Current coupon  The coupon whose maturity date did not end on the transaction settlement date, having a payment due at the next coupon date, as specified in the contract.

Cupon precedent/Previous coupon – The last coupon paid, prior to the transaction settlement date.