Page 19 - PRIAA Glossary

BORROWED MONEY
Another way of saying “debt”. Borrowed money is money that is on an individual’s or institution’s record-keeping books as a liability, such as a bond or loan, and will need to be paid back in the future with interest.
BRENT BLEND CRUDE OIL
Brent blend (also known as Brent Blend, London Brent and Brent petroleum) is a blend of crude oil from various fields in the East Shetland Basin between Scotland and Norway in the North Sea. It is used as a benchmark for the pricing of much of the world’s crude oil production.
BRITISH THERMAL UNIT (Btu)
A unit of energy defined by the amount of heat required
to raise the temperature of 1lb of water by 1 Fahrenheit (technically from 60F to 61F). It is used to compare the heat- producing value of different fuels.
BROKER
Any individual or entity that facilitates transactions between a buyer and seller while receiving a commission upon trade execution. A broker may also act as the principal buyer or seller to a deal.
BRONZE RECORDS
DTCC-eligible trades which have been matched in the Deriv/SERV Trade Information Warehouse but are not legally binding because they are incomplete (non-standardised over-the-counter (OTC) trades).
BULLION
Precious metals, like gold or silver, that are at least 99.5% pure and cast into bars or other non-coin forms.
BUSINESS DAY CONVENTION
The convention for adjusting any relevant dates which fall on a bad business day (e.g., a holiday).
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