STOCK MARKET

Stock Market :
The market in which shares are issued and traded either through exchanges or over-the-counter markets. Also known as the equity market, it is one of the most vital areas of a market economy as it provides companies with access to capital and investors with a slice of ownership in the company and the potential of gains based on the company's future performance.



This market can be split into two main sections: the primary and secondary market. The primary market is where new issues are first offered, with any subsequent trading going on in the secondary market

GILT:

A bond issued by the UK government. Gilts are the UK equivalent of a U.S. Treasury securities. The name "gilt" comes from the original British government certifications that had gilded edges.




The gilt market is essentially comprised of two different types of securities - conventional gilts and index-linked gilts – which between them account for around 99% of gilts in issue.



Conventional gilts are the simplest form of government bond and constitute the largest share of liabilities in the Government's portfolio. A conventional gilt is a liability of the Government which guarantees to pay the holder of the gilt a fixed cash payment (coupon) every six months until the maturity date, at which point the holder receives the final coupon payment and the return of the principal. The prices of conventional gilts are quoted in terms of £100 nominal. However, they can be traded in units as small as a penny.



Index-linked gilts differ from conventional gilts in that the semi-annual coupon payments and the principal are adjusted in line with the UK Retail Prices Index (RPI). This means that both the coupons and the principal paid on redemption of these gilts are adjusted to take account of accrued inflation since the gilt was first issued. For index-linked gilts whose first issue date is before July 2002, the Bank of England performs the function of calculating and publishing the uplifted coupons on each index-linked gilt following the release of the RPI figure which is relevant to it, while for index-linked gilts first issued from July 2002 onwards the DMO performs this function.



Each coupon payable on index-linked gilts consists of two elements:

 half the annual real coupon. The real coupon is quoted in the gilt's title and is fixed (e.g. 2½% Index-linked Treasury Stock 2016 pays a real coupon of 2½%, 1¼% twice a year);

 an adjustment factor applied to the real coupon payment to take account of the increase in the RPI since the gilt's issue.

Claim Clerk/Claim Representative -banking term

Claim Clerk/Claim Representative Roles involved in Claims Settlement:


• Claim Clerk/Claim Representative

• Claim Adjustor

• Claim Examiner

• Claim Appraiser

• Investigator



Claim Clerk/Claim Representative:

1. Claim representative collects information regarding claim. Claim is submitted for approval.

2. Claim representative checks data for completeness.