Active Orders

Orders inserted in the Trading Platform but not executed yet on the Market.

Admission Document

Document prepared by the Issuer, requested by the Stock Exchange for the Listing of the Bond, containing all information relative to the issue (e.g. terms of the loan, Issuer’s financial statements).


Statistical method developed to estimate the Initial Player Value. The Algorithm estimates the value of the players based exclusively on the clubs’ and players’ historical statistics.

Average Weighted Purchase Price (AWPP)

Average cost of acquisition of the Bonds based on weighing the purchase prices according to the corresponding amounts purchased.


It’s a financial product disciplined by the Issuer’s local legislation. The Subscriber of a Bond finances the issuing company, which issues Bonds to collect liquidity destined to the achievement of a specific goal. The Bond’s Subscribers have the right to be reimbursed at Expiry (or earlier should specific conditions occur) and receive a variable Interest linked to the players’ and the club’s performance.

Broker/Financial Intermediary

Entity licensed to match and execute buy and sell orders between investors.

Capital Gain

It occurs when the sale price of the player to another Club is higher than the Initial Player Value determined at the time of the Bond issue.

Delivery versus Payment

Delivery of the purchased Bond in the user’s portfolio once the payment for the Bond by the user has been processed.


Date of expiry of the Bond where the Issuer reimburses the Nominal Value to the Bondholders.


Entity that guarantees the reimbursement of the Bond at expiry (or earlier) to the Bondholders.