Precise definitions of the terms that appear on this site and in your monthly attribution reporting. Alphabetically ordered.
Advanced Encryption Standard with a 256-bit key length. A symmetric encryption method used by Uvistium to encrypt all client data at rest. Considered infeasible to break with current computational capabilities.
The framework of laws (in the UK, primarily the Money Laundering Regulations 2017 and Proceeds of Crime Act 2002) requiring financial firms to identify clients, monitor transactions, and report suspicious activity to the National Crime Agency.
Monthly reporting that maps each return contribution on an account to a specific model decision, sector, or instrument. Enables the client to trace the origin of every return movement precisely.
Bacs Payment Schemes Ltd. UK payment system for bank transfers. Standard settlement time: 3 working days, though most transfers complete within 1 working day.
One-hundredth of a percentage point, or 0.01%. Standard in finance for expressing small fee or return differences precisely. Example: 72 basis points = 0.72%.
Clearing House Automated Payment System. UK same-day settlement system for high-value transfers, typically used for property purchases and institutional flows. Bank fees apply.
UK tax on the profit realised when selling assets that have increased in value. Annual allowance for 2026/27: £3,000 for individuals. Above the allowance, basic-rate taxpayers pay 10% and higher-rate taxpayers 20% on shares and other assets.
UK government-backed cyber-security certification. The "Plus" tier includes independent hands-on verification of security controls. Uvistium has been certified continuously since 2020.
The maximum decline from a peak value to the subsequent trough of an investment, expressed as a percentage. The most important metric for assessing capital-preservation risk.
The UK financial regulator with responsibility for conduct supervision of firms serving retail and wholesale clients. Together with the PRA, replaced the former Financial Services Authority in 2013.
The UK statutory compensation scheme protecting client funds held at authorised firms in the event of firm failure. Protects up to £85,000 per client, per authorised institution.
UK real-time payment system operated by Pay.UK. Transfers typically complete within seconds. Free at nearly all UK banks.
A UK tax-advantaged savings and investment wrapper. Returns within an ISA are exempt from UK income tax and capital gains tax. Annual allowance for 2026/27: £20,000.
International standard for information security management systems. Certifies the systematic approach an organisation takes to protecting sensitive information. Uvistium has held ISO 27001 certification since 2021.
The process of verifying a client identity before opening an account. In the UK, typically achieved through electronic ID verification or postal ID. A statutory obligation under the Money Laundering Regulations 2017.
Markets in Financial Instruments Directive — the EU regulatory framework for investment services. Sets standards for best execution, transaction reporting, and client protection. UK firms follow the retained MiFID framework post-Brexit.
A person entrusted with prominent public functions. Financial firms must apply enhanced due diligence to PEP relationships under the Money Laundering Regulations 2017.
A machine-learning approach where an agent learns behaviour strategies through interaction with an environment and a reward signal. Uvistium uses PPO (Proximal Policy Optimisation), a specific RL algorithm.
A UK pension wrapper allowing broader investment choice than a standard workplace pension. Contributions receive tax relief; the pot grows tax-free. Currently no direct ISA or SIPP integration on Uvistium — under review.
Service Organisation Control 2, Type II. A US audit standard that examines, over an extended observation period (usually 6–12 months), whether an organisation controls in the areas of security, availability, and confidentiality are actually operating effectively.
The difference between the expected execution price of an order and the price actually achieved. An important execution-quality metric. Uvistium averages 1.5 basis points.
Web Authentication Standard from the W3C. Enables phishing-resistant two-factor authentication with hardware keys (YubiKey), biometric sensors (Face ID, Touch ID, Windows Hello). Uvistium recommends WebAuthn for accounts above £25,000.
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