Termen de valabilitate a ordinelor de bursa/Expiry date of the BSE orders  The last date at which an order is valid on the BSE.

Tip de simbol/Symbol Type – A type of financial instrument unique in terms of the currency of trade and settlement.

Titluri de capital/Equity securities  Shares and other transferable securities equivalent to shares in companies, as well as any other type of transferable securities giving the right to acquire any of the aforementioned securities as a consequence of their being converted, or the right conferred by them being exercised, provided that securities of the latter type are issued by the issuer or by an entity belonging to the group of the said issuer.

Titluri de participare/Participation titles – Units or shares issued by collective investment undertakings according to their legal form.

Titluri, altele decat cele de tipul titlurilor de capital/Non-equity securities – All securities that are not equity securities.

Traderii/Traders – Are legal persons that exclusively deal for their own account in derivative instruments, such as future contracts and options.

Transfer direct /Direct Transfer  Transfer of ownership of securities made by the central depository for operations specifically described in this sense by F.S.A./R.N.S.C. Regulations.

Tranzactie cross/Cross transaction  The type of transaction where the participant acts as an intermediary both for the buyer and the seller. A cross transaction may occur as a consequence of any of the following:

a)      The trading system’s automatic execution of two distinct and opposing orders, a buy and a sell, with similar characteristics, which are entered and administrated by the same participant;

b)      As a result of finalizing a deal transaction’s negotiation process, via the same or different exchange tied agent(s), employed by the same participant.

Tranzactie bursiera/Transaction or Trade – The sale and purchase contract of financial instruments, recorded in the trading system.

Tranzactie cum-cupon/Cum-Coupon Transaction  A transaction whose settlement date takes place during the cum-coupon period.

Tranzactie ex-cupon/Ex-Coupon Transaction – A transaction whose settlement date takes place during the ex-coupon period.

Tranzactie intraday/Intraday trade – Interest initiated and liquidated during the same trading session.

Tranzactiile exceptate/Exempted transactions  Direct transfers of financial instrument’s property rights, qualified as such by the F.S.A./R.N.S.C. regulations.

Tranzactionarea pe cont propriu/Dealing on own account  Trading against the investment firm’s proprietary capital resulting in the conclusion of transactions in one or more financial instruments.

Trend/Trend – The general upword or downward evolution of the price of financial instruments or of the entire market.