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| OAT treasury issues |
Stripping (here: of OAT treasury issues): in stripping, the interest and principal of a bond are separated, then listed and traded indepedently. Stripping of OATs has been authorized by the French Treasury since June 1991, and can only be undertaken by SVTs. Its reverse consists of recombining interest and capital to recreate the original OAT.
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| Open-end Fund |
A mutual fund with no limit to the number of shares that can be issued.
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| Open-ended investment fund |
An investment fund whose manager is required to deliver units on demand and to buy them back at the market price when instructed to do so. This structure ensures that the net asset value always roughly corresponds to the price of the units.
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| Option |
The right, granted for a limited time period, to buy (call option) or sell (put option) a quantity of a product (underlying) at a pre-set price and date.
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