T

 

Take-back
Initiatives through which the producer and/or distributor of a product takes it back at the end of its life cycle or when the purchaser decides to no longer use it, for its subsequent reuse or to recycle the parts and materials that can be reused in a productive process.

TDMA (Time Division Multiple Access)
A technology for digital transmission of radio signals between, for example, a mobile phone and a radio base station. TDMA breaks signals into sequential pieces of defined length, places each piece into an information conduit at specific intervals and then reconstructs the pieces at the end of the conduit.
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Telephone poles
They are used to support aerial telecommunications lines. The poles used by Telecom Italia are made of wood (pine or chestnut) and fiberglass. The wooden ones are impregnated with chemical agents that protect them from biological agents (mold, etc.) that could jeopardize their integrity, especially of the underground portion. This impregnation (which could be of the CCA type, i.e. based on copper, chromium and arsenic salts, or of the CXS type, based on salts having a lower environmental impact) determines what end-of-life treatment they are subjected to. Generally they are subjected to recovery processes or reused, sometimes for purposes other than their original one.

Term loan
Term loan established according to a variable interest rate and expiry dates.  A term loan almost always matures in 1 to 10 years.


Territory
Here it is intended both as a physical/chemical/biological structure (ecosystem) on which human activities act and interact (including its material, historical/cultural, monumental and scenic heritage) and as the local identity of the social structure through which local communities (societies) define themselves with respect to their environment and to the outside world (social production and reproduction, economic and human resources, labor, etc.).

Third sector

The group of social solidarity organizations that are not dependent upon the State and do not act for lucrative market purposes.


Top-Down Approach
An investment strategy that focuses on general market trends and selects specific stock sectors that can benefit from these broad trends.

Total Return

Annual return on an investment including appreciation and dividends or interest.

Trade date
The date when the purchase or sale of a bond is executed.

Transfer agent

A party appointed by an issuer to maintain records of securities owners, to cancel and issue certificates and to address issues arising from lost, destroyed or stolen certificates.


Transparency
The capacity to develop interactive and symmetric relational instruments that can guarantee equal access capacity to the different parties involved in the decision-making process.


Treasury Stock
Stock reacquired by the issuing company and available for retirement or resale.


Triple bottom line
Reporting that includes the company’s economic and financial, social and environmental performance.
The bottom line is the last line of a balance sheet. In a CSR and sustainability context, there are three lines: the company’s performance is measured according to the contributions or damage it has done to economic prosperity, to the environment and to the capital stock.
This expression is often accompanied by "triple P", where the letter P stands for people, planet, profit (human capital, the environment, economic wealth).
Trustee
A bank designated by the issuer as the custodian of funds and official representative of bondholders.

Turnover
For a company, the ratio of annual sales to inventory or equivalently, the fraction of a year that an average item remains in inventory. Low turnover is a sign of inefficiency, since inventory usually has a rate of return of zero. For a mutual fund, the number of times per year that an average currency unit of assets is reinvested. In the Stock Market, a measure of trading activity; the volume of shares traded as a percent of total shares listed during a specified period, usually a day or a year.


U

 

ULL (Unbundling Local )
System through which OLO can rent the “last mile” of local loop, connecting to their equipments.

UMTS (Universal Mobile Telecommunications System)
Third-generation mobile communication standard. It’s constituted by a broadband system in which data travel at 2, communication is faster, quality is better and multimedia contents can travel trough the Net.
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Underwrite
To assume the risk of buying a new issue of securities from the issuing corporation or government entity and reselling them to the public.

Unit investment trust
Investment funds created with a fixed portfolio of investments that never changes over the life of the trust. They are created by brokerage houses, and are liquidated as investments within the trust are paid off.    

Universal service
The obligation to supply basic service to all users throughout the national territory at reasonable prices.

UPS (Uninterruptible Power Supply)
Electrical equipment that provides emergency power when the main power source fails


V

 


VAS (Value Added Services)
Value Added Services provide a higher level of functionality than the basic transmission services offered by a telecommunications network for the transfer of information among its terminals, which include wired or wireless switched-circuit analog voice communications; direct “unrestricted” digital point-to-point service at 9,600 bit/s; packet switching (virtual call); direct broadband analog transmission of TV signals, and supplementary services, such as closed user groups; call waiting; collect calls; call forwarding, and identification of number called. Value Added Services performed by the network, the terminals or the specialized centers include message handling services (MHS) (which can be used, among other things, for commercial documents in predetermined formats); electronic directories listing users, network addressees and terminals; e-mail; fax; teletex; videotex and videotelephone. Value Added Services could include also value added voice telephony services such as Freephone or Premium Rate Services.


VDSL (Very - high – data – rate Digital Subscriber Line)
Access technology that allows providers to give clients, by means of an apparatus installed in their homes, access to voice and TV services on the traditional telephone line with a speeds of up to 100 Mbps in downstream (VDSL2).

Volatility
Characteristic of a security, commodity, or market to rise or fall sharply in price within a short-term period.  

VOD (Video On Demand)
TV-program supply on user's request, with payment of a fee for each purchased program (a movie, a soccer match, etc) broadcast in a special method for cable and satellite TV.

VoIP
 (Voice Over IP)
Transmission of voice communications over Internet Protocol (IP) data networks, such as IP-based LANs, intranets or the Internet.
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