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We have compiled a comprehensive A-Z glossary of share dealing and investment terms.


CAC 40

The top 40 companies listed on the French Stock Exchange, Euronext Paris.

Capital Gains Tax (CGT)

The tax payable on gains made from the sale of shares, after the current tax-free allowance of £11,300 (2017/18) has been utilised.

Capital Growth

The increase in the value of shares or assets.


A method of technical analysis based on using charts to plot historical trends and to try and project future trends in markets. We offer a Daily Signal Alert, which provides an update of the FTSE 100 using technical analysis, produced by our Investment Team.

Child Trust Fund (CTF)

A tax-efficient savings and investment account for children born on or after 1st September 2002 and before 3rd January 2011.You can no longer apply for a new CTF but can apply for a Junior ISA (JISA) instead.

Client Money Rules

Introduced by the Financial Conduct Authority, the client money rules are designed to protect client money. They ensure a clear separation between money that belongs to our clients and money that belongs to the firm.

Client Web Access (CWA)

Client Web Access is a secure online portal that allows clients to view their trade history, portfolio valuation, statements and contracts notes. It also provides Nominee clients with the ability to vote online at ballots and AGMs.

Collective Investments

Collective Investments all have the common objective of providing exposure to a diversified group of investments, but can have a variety of investment aims and risk profiles. There are several types of collective investments including:
Investment trusts;
Unit trusts;
Open Ended Investment Companies (OEICs);
Exchange Traded Funds (ETFs).


The fee that a stockbroker charges clients for dealing on their behalf.


A basic good used in commerce that is interchangeable with other commodities of the same type. When traded on an exchange, commodities must also meet specified minimum standards, also known as a basis grade.

Some traditional examples of commodities include grains, gold, beef, oil and natural gas. More recently, the definition has expanded to include financial products such as foreign currencies and indexes.

Complex Instruments

Securities which may contain a higher degree of risk and complexity. This includes derivatives, futures, warrants and certain other investments.

Contract Note

A contract note is confirmation of the agreement between you and your broker and is produced for all trades and documents the details of the transaction for your records. It provides details such as the full title of the stock, price, stamp duty (if applicable), consideration, commission, date and time of deal etc. Contract notes should be retained for tax purposes.

Corporate Action

This is the name given to a company event such as takeovers, rights issues, demergers, scrip dividends and conversions.

Credit Rating

A credit rating is an evaluation of the credit worthiness of a debtor, especially a business (company) or a government, but not individual consumers. For more information, please refer to our Credit Ratings Fact Sheet.


The paperless share settlement system through which trades executed on the London Stock Exchange’s markets and elsewhere can be settled. CREST was introduced in 1996 and is operated by Euroclear UK & Ireland.

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Aberdeen Ediston