On the London Stock Exchange, a market-maker concerned primarily with retail business who has permission to display prices in reduced sizes on SEAQ.
Registered representative
The employee of a member firm who gives advice on which securities to buy and sell, and who collects a percentage of the commission income he or she generates.
Registrar
The registrar is responsible for keeping track of the owners of bonds and the issuance of stocks. Working with the transfer agent, the registrar keeps current files of the owners of a bond issue and the stockholders in a corporation. The registrar ensures that no more than the authorized amount of stock is in circulation. If the registrar and transfer agent are the same company, then there must be a Chinese Wall separating the functions.
Remisier
A self-employed stockbroker who gets commission for buying and selling for his own clients.
Renouncable documents
On the London Stock Exchange, temporary evidence of ownership, of which there are 4 main types. When a company offers shares to the public, it sends an allotment letter to the successful applicants; if it makes a rights issue, it sends a provisional allotment letter to its shareholders, or in the case of a capitalisation issue, a renounceable certificate. All of these are in effect bearer securities and are valuable. Each includes full instructions on what the holder should do if he/she wishes to have the newly issued shares registered in his/her name, or if he/she wishes to renounce them in favour of somebody else.
Report
A premium on carrying over a position on a French equity from one settlement period to the next.
Reverse split
The reduction in a corporation’s outstanding common stock. This is accomplished by replacing outstanding common stock by fewer shares and increasing the stated or par value per share. The total number of shares will have the same market value immediately after the reverse split as before.
Reverse-crush spread
The spread between soya beans and soya-bean products created by buying soya-bean oil and soya-bean-meal futures and selling soya-bean futures.
Rights issue
An offer of securities to existing shareholders by a company in proportion to their existing holdings.
Ring
An area on a trading floor where futures or equities are traded.
