1492 terms

Glossary

Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.

Showing 2 terms

Graded Surveillance Measure

Regulation & tax

Also called: GSM

An exchange framework applied to securities whose financials look weak against the price — net worth, net fixed assets, book value — escalating through stages of progressively tighter conditions.

In plain terms

The more severe of the two frameworks, and the one pointing at the accounts rather than at the tape. At the top stages trading falls to one session a week, so the exit stays open while its timing and its price stop being yours to choose.

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Additional Surveillance Deposit

Regulation & tax

Also called: ASD

A cash deposit the buying member must lodge with the exchange over and above the purchase price, collected at the higher stages of the Graded Surveillance Measure.

In plain terms

A toll on entering rather than on holding. It is retained for some months and is not released simply because you have sold the shares, which is why a GSM stock costs more to own than the quote suggests.

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