Page 112 - PRIAA Glossary

METHANE
The primary hydrocarbon in natural gas. It is the shortest and lightest hydrocarbon.
MEZZANINE TRANCHE
A tranche in the capital structure that is subordinated to the senior tranche, but is senior to the equity tranche.
MIDDLE OFFICE SERVICES
A department in a financial firm which handles pricing and valuation of securities and derivatives, risk management, profit and loss calculation, as well as collateral management.
MIDDLEWARE
An electronic processing layer that provides matching, data enrichment, messaging and data exchange facilities between applications.
MINIMUM PRICE FLUCTUATION
Smallest increment of price movement possible in trading a given contract. Also called a point or tick.
MINIMUM TICK
Smallest increment/decrement of price movement possible in trading a given contract. Also called “point”.
MINIMUM TRADING FUNCTIONALITY
A minimum functionality that all swap execution facilities (SEFs) are required to offer. Generally, SEFs are required to provide functionality that allows traders to execute trades through an order book.
MINIMUM TRANSFER AMOUNT
A de minimis transfer amount specified in a collateral agreement. It is designed to avoid the movement of insignificant collateral balances.
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