Article 5 Definitions
For all purposes of these Rules, the following definitions shall apply, as stated below:
| The BSE: | shall mean the Bahrain Stock Exchange. |
| BATS: | shall mean the BSE's Automated Trading System. |
| CSDR System: | shall mean the BSE's Clearing, Settlement, Depository and Registry System. |
| CSU: | shall mean the BSE's Clearing and Settlement Unit. |
| Credit Balance: | shall mean the net to receive amount resulting from trades concluded on the BSE by a Participant, and which the BSE is liable to pay within two working days after the trade date (T+2). |
| Director: | shall mean the Director of the Bahrain Stock Exchange. |
| Debit Balance: | shall mean the net to pay amount |
| Deposited Securities: | shall mean any securities that from time-to-time are credited to a Participant or his client's account through the CSDR System, either by deposit or delivery. |
| Central Depository: | shall mean a person or institution which meets the standards and qualifications required by the BSE with respect to financial ability, personnel, facilities, procedures, operations and equipment, and which shall provide to the Participants and Participants' clients depository services for the central handling of all securities. |
| Depository Service: | shall mean the service provided by the BSE to the Participants, whereby the BSE maintains accounts, recording the securities deposited and held by the Participants and their clients. |
| Eligible Security: | shall mean a security deemed eligible by the BSE pursuant to the BSE's Internal Regulations. |
| The Participant: | shall mean a BSE member who is accepted and permitted by the BSE to effect transfer of securities and other entries in relation to securities, by means of the CSDR System. |
| Guarantee Fund: | shall mean the Guarantee Contribution Fund established by the BSE to satisfy a liability caused by a Participant's failure to fulfill his obligations to pay the net to pay balance on the Settlement Day (T+2). |
| Liquidity Reserve: | shall mean an amount that a Participant is obliged to pay as an advance (collateral) for the fulfillment of settlement obligations, in accordance with the BSE's Trading Cap Limit rules. |
| Purchased Securities: | shall mean securities where the value has not been paid in full on the Settlement Day. |
| Securities Account: | shall mean a securities account maintained by the BSE on behalf of the Participants and their clients, for use in one or more of its services. |
| Settlement Bank: | shall mean the designated day for settlement of obligations resulting from trades on the BSE. |
| The Central Securities Registry: | shall mean a central information database where all securities deposited in the Central Depository, individual holders of such securities, and pledges and other third-party rights on securities, shall be recorded. |
| Unique Identification Number: | shall mean the Central Population Registry's Unique Identification Number for a Bahraini legal entity or individual person and identification number allocated by the BSE on the basis of passport, extract of the home country company register, or any other official document showing the identity of non-Bahraini legal entities or individual persons. |