North American Product Classification System (NAPCS) Canada [Provisional Version 0.1]

52 - Financial and insurance services

522009 - Other credit financing products

522009.2 - Financing related to securities

Services that provide financing related to trading and dealing in securities. These services generally involve the use of securities as collateral, either to fund trading in the securities themselves, or to provide financing for other purposes.

522009.2.1 - Securities lending

Similar to repurchase agreements, specific securities are transferred by financial entities, including custodians, under agreement to be returned on a specific date or on demand. Typically, securities lending occurs to cover a short sale or a customer's failure to deliver securities sold. The securities borrower is generally required to provide cash or securities as collateral.

522009.2.2 - Repurchase agreements

The sale of a security to a counterparty for cash with an agreement to repurchase it at a fixed price on a specified future date. A reverse-repurchase agreement is from the perspective of the counterparty to a repurchase agreement, i.e., the purchase of a security from a counterparty for cash with an agreement to sell it at a fixed price on a specified future date.

522009.2.3 - Other financing related to securities

Services that provide financing related to trading and dealing in securities, other than securities lending and repurchase agreements.