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Data Communication

The transfer of information between equipment over local and long-distance networks through the telephone network, packet-switching networks or satellite.


LONG-DISTANCE DIALING (+ LONG-DISTANCE AREA CODE) - Brazil’s DDD refers to the long-distance calling service offered by telephone operators without the aid of live phone operators.


INTERNATIONAL DIALING (+ INTERNATIONAL COUNTRY CODE) - Brazil’s DDI refers to the international calling service offered by telephone operators without the aid of live phone operators.


Institutions accredited by the Central Bank to participate in the auctions. Dealers are chosen among the most active banks in the market.


Debt securities issued by a corporation to raise funds to be invested or to finance working capital.

Debentures Convertible Into Shares

Debentures that allow the holder to convert them into shares according to predetermined conditions and at certain times.

Dedicated Access

Connection through a dedicated line between a telephone or telephone system (like ACD) and a long-distance operator or value-added telecommunication services operator. All calls on this line are automatically routed to a specific line that runs directly to the operator‘s existing equipment such that different calls among different offices can be placed by dialing from the same extension, as if they were internal calls.

Dedicated Line

Telephone line that is permanently linked between two locations. Dedicated lines are frequently found in moderately-sized connections to an access provider.

Dedicated Service Line (DSL)

Service provided by an circuit-switched fixed-line telephone service operator to use dedicated lines to meet the needs of a single user or restricted group of users.


When contractual obligations are not kept. When a debtor admits that he cannot pay the debt under the conditions and on the date established or that he cannot comply with certain clauses in the contract.


This is the negative balance between revenue and expenditure.


Fall of prices in general. Negative inflation rate.


Contracts on financial assets or securities whose value and characteristics of negotiation are derived (hence the name derivative) from other assets that serve as a reference. It is an operation of the financial markets where the transaction value is derived from the future behavior of other markets such as stocks, foreign exchange, or interest.


A type of internet data connection over a modem connected to a fixed-line telephone.

Dial-up Access

Connection via traditional telephone line.


Combination of potential purchases and sales of options on the same underlying stock but in different series.


This is the means of representing a physical variable, such as voice, using only zeros and ones. The digits are transmitted in binary form as series of pulses. Digital networks allow for greater capacity and flexibility through the use of computerized technology to transmit and manipulate phone calls. Digital systems offer less noise interference and can incorporate cryptography to protect against outside interference.

Direct Inward Dialing – DID

A telephone service that allows callers to directly contact a given extension within a telephone system, without talking to a live operator. Direct dial-in eliminates the need to have an automated operator to route calls made to the central switchboard.


The release of information. A measure imposed by capital and financial market regulating bodies that requires companies to make all relevant information known, whether good or bad, that might influence a decision to invest in that company.


This is a risk management strategy by distributing financial resources to different financial assets in order to reduce risks inherent when resources are concentrated. In the case of a concentration of investments in a few modalities such as stocks, diversification means having stock of different companies where risks and risk premiums counterbalance each other.


Dividends correspond to the portion of net profit distributed to stockholders in proportion to the number of shares owned at the end of each fiscal year. A company must distribute at least 25% of its adjusted net profit. Preferred stock receives a 10% higher dividend than common stock if the company‘s bylaws do not establish a minimum dividend.

Dollar or USD or US$

The currency of the United States of America.

Dow Jones Index

Index used to measure the performance of trades on the New York Stock Exchange. The Dow Jones is composed of a probable portfolio with the most actively traded stocks on the NYSE (New York Stock Exchange).


Speed at which data transmission is received.


Acronym for Depository Receipts. Type of investment in fixed income whose earnings are a prearranged interest rate and they can be traded directly with the bank. DRs neither allow early withdrawal of funds invested nor trading on the secondary market.


Digital subscriber line - technology that transfers digital information through existent twisted copper wire. Transfer rates depend on the type of system used (examples: ADSL, HDSL, VDSL, SDSL).


Direct-to-home technology allows the company responsible for the programming schedule to transmit, via satellite, TV signals directly to the viewer’s home.