OTC (over-the-counter)
Transactions undertaken directly between the parties without using a regulated market.

Operational risk
Operational risks are classified into two categories: business risk and event risk. Business risk consists of the risk of incurring losses due to changes in the macro- or microeconomic scenario with a prejudicial impact on income-generating capacity, typically through reduced operating volumes or margins. Event risk is the risk of incurring losses due to four types of events: fraud, breach of contract, defects in internal controls or IT systems, and natural disasters.

Options
Options afford the right, but not the obligation, to purchase (a call option) or sell (a put option) a financial instrument at a predetermined price by or on a given future date.

Origination
The activity of underwriting and placing debt securities (debt underwriting) or equities (equity underwriting). It ranges from contact with potential clients, receiving an engagement, and managing and coordinating the subscription and placement of the securities.

Outsourcing
Relying on external companies that provide operational support.

Over-the-counter (OTC)
Transactions undertaken directly between the parties without using a regulated market.