Assignment # 3:

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'An asset or item that is purchased with the hope that it will generate income or appreciate in the Iuture.
In Iinance, an investment is a monetary asset purchased with the idea that the asset will provide income
in the Iuture or appreciate and be sold at a higher price.

In the Iinancial sense investments include the purchase oI bonds, stocks or real estate property.
Be sure not to get 'making an investment' and 'speculating' conIused. Investing usually involves the
creation oI wealth whereas speculating is oIten a zero-sum game; wealth is not created. Although
speculators are oIten making inIormed decisions, speculation cannot usually be categorized as traditional
investing.

SPFCulATl0t

'The process oI selecting investments with higher risk in order to proIit Irom an anticipated price
movement.

Speculation should not be considered purely a Iorm oI gambling, as speculators do make an inIormed
decision beIore choosing to acquire the additional risks. Additionally, speculation cannot be categorized
as a traditional investment because the acquired risk is higher than average.

More sophisticated investors will also use a hedging strategy in combination with their speculative
investment in order to limit potential losses.











6l0Al 0FP0SlTARY RFCFlPT - 60R

A global depository receipt or global depositary receipt (GDR) is a certiIicate issued by a depository
bank, which purchases shares oI Ioreign companies and deposits it on the account. GDRs represent
ownership oI an underlying number oI shares.
Global depository receipts Iacilitate trade oI shares, and are commonly used to invest in companies Irom
developing or emerging markets.
Prices oI global depositary receipt are oIten close to values oI related shares, but they are traded and
settled independently oI the underlying share.
Several international banks issue GDRs, such as JPMorgan Chase, Citigroup, Deutsche Bank, Bank oI
New York. GDRs are oIten listed in the FrankIurt Stock Exchange, Luxembourg Stock Exchange and in
the London Stock Exchange, where they are traded on the International Order Book (IOB). Normally 1
GDR 10 Shares, but not always. It is negotiable instrument which is denominated in some Ireely
convertible currency.

wARRAtT

'A derivative security that gives the holder the right to purchase securities (usually equity) Irom the issuer
at a speciIic price within a certain time Irame.
Warrants are oIten included in a new debt issue as a "sweetener" to entice investors.

The main diIIerence between warrants and call options is that warrants are issued and guaranteed by the
company, whereas options are exchange instruments and are not issued by the company. Also, the
liIetime oI a warrant is oIten measured in years, while the liIetime oI a typical option is measured in
months.



ltTFRtATl0tAl 0R6AtlZATl0t F0R STAt0AR0lZATl0t
lS0 15022
The International Organization Ior Standardization (ISO) is a worldwide Iederation oI national standards
bodies (ISO member bodies).
International Standard ISO 15022 was prepared by Technical Committee ISO/TC68, Banking, Securities
and Related Financial Services, Sub-Committee SC4, Securities and Related Financial Instruments.
'ISO 15022 sets the principles necessary to provide the diIIerent communities oI users with the tools to
design message types to support their speciIic inIormation Ilows. These tools consist oI a set oI syntax
and message design rules, a dictionary oI data Iields and a catalogue Ior present and Iuture messages built
by the industry with the above mentioned Iields and rules.
To address the evolving needs oI the industry as they arise, the Data Field Dictionary and Catalogue oI
Messages have been kept outside the standard. They are made available by the Registration Authority
which maintains them as necessary upon the request oI industry participants.
To protect investments already made by the industry, the syntax proposed in this standard, reIerred to as
"Enhanced ISO 7775 syntax", is based on the syntax used Ior the previous ISO 7775 and ISO 11521.
ISO 15022 has been designed to incorporate and be upwards compatible with the previous securities
message standards ISO 7775 and ISO 11521, as updated in ISO TR 7775. As a result, the initial Data
Field Dictionary and Catalogue oI Messages accommodate ISO TR 7775 data Iields and messages.
However, some oI the previous Iields and messages are not Iully compliant with the Enhanced ISO 7775
syntax. In addition the initial Data Field Dictionary incorporates the Industry Standardization Ior
Institutional Trade Communications (ISITC) DSTU 1/1995 and the Securities Standards Advisory Board
(SSAB) data dictionaries.
The ISO 15022 standard is described in the document "ISO 15022 Securities - Scheme Ior Messages
(Data Field Dictionary), Part 1 - Data Field and Message Design Rules and Guidelines and Part 2 -
Maintenance oI the Data Field Dictionary and Catalogue oI Messages".
Orders Ior ISO 15022 and other International Standards or ISO publications should be addressed to the
ISO member bodies which are normally the primary sales agents in their country. For customers in
countries where there is no member body, the order should be addressed to the ISO Central Secretariat.


CuRRFtCY C00FS

The Currency System Iamily oI soItware and services is licensed to use oIIicial ISO 4217 currency codes,
published by the International Organization Ior Standardization. The codes covered by this standard, as
well as the registered trademark "ISO", are the property oI the International Organization Ior
Standardization (ISO), and are used under license. These codes are sometimes also reIerred to as "SWIFT
currency codes".

Currency Name Code

Afghanistan afghani AFA
Albanian lek ALL
Algerian dinar DZD
Angolan kwanza reajustado AOR
Argentine peso ARS
Armenian dram AND
Aruban guilder AWC
Australian dollar AUD
Azerbaijanian new manat AZN
Bahamian dollar BSD
Bahraini dinar BHD
Bangladeshi taka BDT
Barbados dollar BBD
Belarusian ruble BYR
Belize dollar BZD
Bermudian dollar BND
Bhutan ngultrum BTN
Bolivian boliviano BOB
Botswana pula BWP
Brazilian real BRL
British pound CBP
Brunei dollar BND
Bulgarian lev BCN
Burundi franc B!F
Cambodian riel KHR
Canadian dollar CAD
Cape verde escudo CvE
Cayman !slands dollar KYD
CFA franc BCEAO XOF
CFA franc BEAC XAF
CFP franc XPF
Chilean peso CLP
Chinese yuan renminbi CNY
Colombian peso COP
Comoros franc KNF
Congolese franc CDF
Costa Rican colon CRC
Croatian kuna HRK
Cuban peso CUP
Czech koruna CZK
Danish krone DKK
Djibouti franc D]F
Dominican peso DOP
East Caribbean dollar XCD
Egyptian pound ECP
El Salvador colon SvC
Eritrean nakfa ERN
Estonian kroon EEK
Ethiopian birr ETB
EU euro EUR
Falkland !slands pound FKP
Fiji dollar F]D
Cambian dalasi CND
Ceorgian lari CEL
Chanaian new cedi CHS
Cibraltar pound C!P
Cold (ounce) XAU
Cold franc XFO
Cuatemalan quetzal CTQ
Cuinean franc CNF
Cuyana dollar CYD
Haitian gourde HTC
Honduran lempira HNL
Hong Kong SAR dollar HKD
Hungarian forint HUF
!celandic krona !SK
!NF special drawing right XDR
!ndian rupee !NR
!ndonesian rupiah !DR
!ranian rial !RR
!raqi dinar !QD
!sraeli new shekel !LS
]amaican dollar ]ND
]apanese yen ]PY
]ordanian dinar ]OD
Kazakh tenge KZT
Kenyan shilling KES
Kuwaiti dinar KWD
Kyrgyz som KCS
Lao kip LAK
Latvian lats LvL
Lebanese pound LBP
Lesotho loti LSL
Liberian dollar LRD
Libyan dinar LYD
Lithuanian litas LTL
Nacao SAR pataca NOP
Nacedonian denar NKD
Nalagasy ariary NCA
Nalawi kwacha NWK
Nalaysian ringgit NYR
Naldivian rufiyaa NvR
Nauritanian ouguiya NRO
Nauritius rupee NUR
Nexican peso NXN
Noldovan leu NDL
Nongolian tugrik NNT
Noroccan dirham NAD
Nozambique new metical NZN
Nyanmar kyat NNK
Namibian dollar NAD
Nepalese rupee NPR
Netherlands Antillian guilder ANC
New Zealand dollar NZD
Nicaraguan cordoba oro N!O
Nigerian naira NCN
North Korean won KPW
Norwegian krone NOK
Omani rial ONR
Pakistani rupee PKR
Palladium (ounce) XPD
Panamanian balboa PAB
Papua New Cuinea kina PCK
Paraguayan guarani PYC
Peruvian nuevo sol PEN
Philippine peso PHP
Platinum (ounce) XPT
Polish zloty PLN
Qatari rial QAR
Romanian new leu RON
Russian ruble RUB
Rwandan franc RWF
Saint Helena pound SHP
Samoan tala WST
Sao Tome and Principe dobra STD
Saudi riyal SAR
Serbian dinar RSD
Seychelles rupee SCR
Sierra Leone leone SLL
Silver (ounce) XAC
Singapore dollar SCD
Solomon !slands dollar SBD
Somali shilling SOS
South African rand ZAR
South Korean won KRW
Sri Lanka rupee LKR
Sudanese pound SDC
Suriname dollar SRD
Swaziland lilangeni SZL
Swedish krona SEK
Swiss franc CHF
Syrian pound SYP
Taiwan New dollar TWD
Tajik somoni T]S
Tanzanian shilling TZS
Thai baht THB
Tongan pa'anga TOP
Trinidad and Tobago dollar TTD
Tunisian dinar TND
Turkish lira TRY
Turkmen new manat TNT
UAE dirham AED
Uganda new shilling UCX
U!C franc XFU
Ukrainian hryvnia UAH
Uruguayan peso uruguayo UYU
US dollar USD
Uzbekistani sum UZS
vanuatu vatu vUv
venezuelan bolivar fuerte vEF
vietnamese dong vND
Yemeni rial YER
Zambian kwacha ZNK
Zimbabwe dollar ZWL