Guide to Analysing Companies

D
DEFINED CONTRIBUTION PENSION
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Delivery
The transfer of title of a financial instrument from one
owner to another. Hence the delivery date, delivery month and
so on – the time when delivery is to be made. In commodity
markets, there are three main classes of delivery:
 current delivery – delivery in the current calendar
month;
 nearby delivery – delivery in the next calendar month;
 distant delivery – delivery in a month that is further
away.
Dematerialise
In finance, the word is used to describe the process of transfer-
ring into electronic form something that was previously
recorded on paper. Thus it can be said that shares and bonds
are gradually being “dematerialised”, as increasingly the certifi-
cates that investors used to hold are stored in electronic form
(see euroclear). It can also be said that banks themselves are
dematerialising as their branches become fewer and fewer, and
their dealings with customers increasingly take place through
atms or online.
Deposit
There are several meanings.
1 Money left as security before receipt of a service, such as a
tenant might give a landlord before moving into a furnished
property, or a telephone company might demand before con-
necting a line for a new customer. 
2 Natural resources found underground, as in South Africa’s
rich mineral deposits.
3 Money left with a bank for safekeeping. Such deposits come
in many different forms.
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DELIVERY
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 Demand deposit. Money that can be withdrawn on
demand or without notice.
 Savings deposit. A sort of piggy bank account, designed
for regular savings that are rarely withdrawn. It pays
interest but at below market rates.
 Time deposit. A deposit that can be withdrawn only
after a specified period of time; for example, a three-
month deposit or a six-month deposit. These deposits pay
interest at close-to-market rates and are also known as
fixed deposits.