Valoare nominala/Nominal Value In case of hares, it is the value set throught the statute by the issuer, this is different from the market value of the respective share, which fluctuates periodically.

Valoarea unitara a activului net (VUAN)/Net asset value (NAV) The net asset value of the Collective Investment Undertakings published by the BSE, based on the information provided by the Issuer or by another responsible entity.

Valori mobiliare/Transferable securities Shares issued by companies and other  securities equivalent to shares in companies, traded on the capital market; bonds and other forms of securitised  debt, including government securities with a maturity of over 12 months, which are negotiable on the capital market; any other securities normally dealt in, giving the right to acquire any such transferable securities by subscription or exchange,  or giving rise to a cash settlement, excluding instruments of payment.

Valori mobiliare emise in mod continuu sau repetat/Securities issued in a continuous or repeated manner Securities of the same type and/or class issued continuously or at least in two distinct issuances over a period of 12 months.

Vanzarea in lipsa/ Short selling The selling of neither securities which are nor the property of the seller at the selling date.

Vanzarea speciala la ordin/Special selling A selling method specific to the capital market, which can only be realized on the BSE, consisting of a securities offering made by a  natural or legal entity, including public institutions involved in the process of privatizing and named Tenderer, for the sale of securities held, through the BSE technical system.

Variatie maxima pret ordin/Maximum Price Variation (of an Order) The maximum price percentage variation of an order on the BSE of a symbol from the reference price.

Volatilitate/Volatility Extent of the price fluctuation of a financial instruemtn; the historical volatility represents the amplitude of the prices’variation for a particular period of time from the past.

Volum/Volume Total numbers of contracts traded in a particular period of time.

Volum minim ordin/Minimum Order Volume The minimum quantity of financial instruments required for an order to be traded on the BSE.