Manipularea pietei/Handling Market – Means transactions or trading orders; 1 which could give false signals or misleading in connection with the demand, supply or price of financial instruments, 2 which keeps, through the action of one or more persons acting together, the price of one or more financial instruments to an abnormal or artificial level; transactions or trading orders involving fictitious devices or any other form of deception; dissemination of information through media, including internet or through any other means that give or may give false signals or misleading information on financial instruments, including the dissemination of false news and rumors or misleading in conditions in which the person who disseminated the information knew or should have known that the information is false or misleading.

Marcarea la piata/Marking to Market Update margin accounts, guarantees and other active or passive elements, at least at the end of operation, with the favorable/unfavorable resulting from the revaluation of open positions.

Marja/Margin – The minimum level the client needs to hold in the margin account opened with the S.S.I.F. to guarantee margin trading.

Marja profitului din exploatare/Operating profit margin  The percentage reflects the company’s core business profitability and is calculated as the ratio between operating profit and turnover of the company.

Membru compensator/Clearing Member – The intermediary registered in the public F.S.A./R.N.S.C. registry, which meets the admission requirements set by the clearing house and has signed a contract for clearing and settlement.

Membru noncompensator/Non-clearing Member – The intermediary or trader holding the status of a trading member and who participates in an indirect way to the Clearing-Settlement System, by means of a general clearing member.

Monitorizare/Surveillance – The surveillance on a continuous basis carried out by specialized personnel, ensuring all occurs in accordance with the provisions of the laws regarding trading financial instruments on regulated markets.

Multiplicator/Multiplier – The value expressed in monetary units (for example: 10 RON / USD / EUR, etc) or physical units (for example: 1.000 shares / obligations, etc), which is established in the financial derivative specifications in order to establish the notional value of a financial derivative contract.