In relation to financial markets, the paper right to a (generally tradable) asset. In this context the term includes Bills of Exchange, bonds, share certificates or any other interest-bearing paper traded on financial markets; An asset pledged to ensure the repayment of a financial obligation (e.g. loan), and forfeited in the event of a default on that obligation.

The content of this site is not for the use of Hong Kong investors, however it does provide you (Hong Kong investors) with a secure customer login.