Order reception-transmission is one of the nine services defined in Article L. 321-1 of the Code monétaire et financier. This service involves the professional receiving the client's instructions and transmitting them to another service provider for execution, without directly intervening on the markets.

Financial securities, as defined in Article L. 211-1 of the Code monétaire et financier, include shares, which represent a fraction of a company's capital, bonds, which represent a loan granted to an issuer, and units of collective investment schemes.

Article L. 321-1 of the Code monétaire et financier defines the nine investment services, including reception-transmission of orders, execution of orders on behalf of clients, portfolio management on behalf of third parties, and investment advice.

Financial contracts, also known as derivative instruments, encompass options, futures and swaps. These instruments derive their value from an underlying asset.

In accordance with the product governance requirements introduced by MiFID II (Articles 313-18 to 313-27 of the AMF General Regulation), the concept of target market defines the type of investor for whom a strategy has been designed. This includes criteria such as the client's experience, knowledge and financial situation.

Portfolio management on behalf of third parties means that the provider holds a mandate to make investment decisions on a discretionary basis. Without such a mandate, the provider cannot act in a discretionary manner.

Investment advice takes the form of personalised recommendations tailored to the client's profile. These recommendations are specific and not generic.