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Superglossary - Finance
Category: Economy and Finance > Finance
Date & country: 16/12/2013, US
Words: 5424


Ask
This is the quoted ask, or the lowest price an investor will accept to sell a stock. Practically spe

Asked Price
In context of general equities, price at which a security or commodity is offered for sale on an exc

Asked To Bid-Offer
Used in context of general equities. Usually a seller (buyer) looking to aggressively sell (buy) sto

Aspirin
Australian Stock Price Riskless Indexed Notes. Zero-coupon four-year bonds repayable at face value p

Assay
Metal purity test to confirm that the metal meets the standards for trading on a commodities exchang

Assessed Valuation
The value assigned to property by a municipality for the purpose of tax assessment. Such an assessed

Asset
Anything that has future economic value. In addition to items such as cash and equipment, assets can

Asset
Any possession that has value in an exchange.

Asset Activity Ratios
Ratios that measure how effectively the firm is managing its assets.

Asset Allocation Decision
The decision regarding how an institution's funds should be distributed among the major classes of a

Asset Allocation Mutual Fund
A mutual fund that rotates amoung stocks, bonds, and money market securities to maximize return on i

Asset Classes
Categories of assets, such as stocks, bonds, real estate, and foreign securities.

Asset Depreciation Range System
A range of depreciable lives the IRS allows for particular classes of assets.

Asset For Asset Swap
Creditors exchange the debt of one defaulting borrower for the debt of another defaulting borrower.

Asset Management Account
Account at a brokerage house, bank, or savings institution that integrates banking services and brok

Asset Play
A company with assets that are not believed to be accurately reflected in its stock price, making it

Asset Pricing Model
A model for determining the required or expected rate of return on an asset. Related

Asset Stripper
A corporate raider (company A) that takes over a target company (company B) in order to sell large a

Asset Substitution
Occurs when a firm invests in assets that are riskier than those that the debtholders expected.

Asset Substitution Problem
Arises when the stockholders substitute riskier assets for the firm's existing assets and expropriat

Asset Swap
An interest rate swap used to alter the cash flow characteristics of an institution's assets in orde

Asset Turnover
The ratio of net sales to total assets.

Asset Value
The net market value of a corporation's assets on a per-share basis, not the market value of the sha

Asset-Backed Security
A security that is collateralized by loans, leases, receivables, or installment contracts on persona

Asset-Based Financing
Methods of financing in which lenders and equity investors look principally to the cash flow from a

Asset-Coverage Test
A bond indenture restriction that permits additional borrowing if the ratio of assets to debt does n

Asset-Equity Ratio
The ratio of total assets to stockholder equity.

Asset-Liability Management
The task of managing the funds of a financial institution to accomplish the two goals of a financial

Assets
A firm's productive resources.

Assets Requirements
A common element of a financial plan that describes projected capital spending and the proposed uses

Assignment
The receipt of an exercise notice by an options writer that requires the writer to sell (in the case

Assimilation
The public absorption of a new issue of stocks once the stock has been completely sold by underwrite

Assumed Interest Rate
Rate of interest used by an insurance company to calculate the payout on an annuity contract.

Assumption
Becoming responsible for the liabilities of another party.

Asymmetric Information
Information that is known to some people but not to other people.

Asymmetric Taxes
When participants in a transaction have different net tax rates.

Asymmetric Volatility
Phenomenon that volatility is higher in down markets than in up markets.

Asymmetry
A lack of equivalence between two things, such as the unequal tax treatment of interest expense and

At Par
A price equal to nominal or face value of a security. See

At Risk
The exposure to the danger of economic loss. Frequently used in the context of claiming tax deductio

At The Bell
In context of general equities, at the opening or close of the market. See

At The Close Order
In the context of securities, an all or none market order that is to be executed at the closing pric

At The Figure
In context of general equities, at the whole integer price (excluding the fraction) closest to the s

At The Full
Used in context of general equities. At the figure.

At The Opening Order
In context of general equities, market order or limited price order that is to be executed at the op

At-For
Used in context of general equities. Paramount terms used to differentiate an offering. Stock is off

At-The-Money
An option is at the money if the strike price of the option is equal to the market price of the unde

Athens Stock Exchange (ASE)
Greece's principal stock exchange.

Attribute Bias
The tendency of stocks preferred by the dividend discount model to share certain equity attributes s

Auction Markets
Markets in which the prevailing price is determined through the free interaction of prospective buye

Auction Rate Preferred Stock (ARPS)
Floating-rate preferred stock, whose dividend is adjusted every seven weeks through a Dutch auction.

Audit
An examination of a company's accounting records and books conducted by an outside professional in o

Audit Trail
Resolves the validity of an accounting entry by a step-by-step record by which accounting data can b

Auditors Report
A section of an annual report that includes the auditor's opinion about the veracity of the financia

Aunt Millie
An unsophisticated investor.

Australian Stock Exchange (ASX)
Established in 1987 following the amalgamation of the six independent stock exchanges operating in t

Autex
Video communication network through which brokerage houses alert institutional investors of their de

Authentication
In the context of bonds, refers to the validation of a bond certificate.

Authority Bond
A bond issued by a government agency or a corporation created to manage a revenue-producing public e

Authorized Shares
Number of shares authorized for issuance by a firm's corporate charter.

Autocorrelation
The correlation of a variable with itself over successive time intervals. Sometimes called serial co

Automated Bond System (ABS)
The computerized system that records bids and offers for inactively traded bonds until they are canc

Automated Clearing House (ACH)
A collection of 32 regional electronic interbank networks used to process transactions electronicall

Automated Order System (AOS)
Investment banks, computerized order entry system that sends single order entries to DOT (Odd-Lot) o

Automated Pit Trading (APT)
Introduced in 1989, APT is the LIFFE screen-based trading system that replicates the open outcry met

Automatic Extension
An automatic extension of time granted to a taxpayer to file a tax return.

Automatic Funds Transfer
A transfer of funds from one account or investment vehicle to another using electronic or telecommun

Automatic Investment Program
A program in which an investor can invest or withdraw funds automatically. A mutual fund, for exampl

Automatic Stay
The restricting of liabilityholders from collection efforts related to collateral seizure. Automatic

Automatic Withdrawal
A mutual fund that gives shareholders the right to receive a fixed payment from dividends on a quart

Autoquote
Autoquote indicative prices are generated for many of the financial options contracts traded at LIFF

Autoregressive
Using past data or variable of interest to predict future values of the same variable.

Availability Float
Checks deposited by a company that have not yet been cleared.

Available On The Way In
In context of general equities, stock is available to new customer as trade initiated by another cus

Average
An arithmetic mean return of selected stocks intended to represent the behavior of the market or som

Average (Across-Day) Measures
An estimation of price that uses the average or representative price of a large number of trades.

Average Accounting Return
The average project earnings after taxes and depreciation divided by the average book value of the i

Average Age Of Accounts Receivable
The weighted-average age of all the firm's outstanding invoices.

Average Annual Return
The expected annual return on an investment, including interest and dividends, expressed as a percen

Average Cost
In the context of investing, refers to the average cost of shares or stock bought at different price

Average Cost
A method of inventory valuation whereby the total cost of all units bought or produced is divided by

Average Cost Of Capital
A firm's required payout to bondholders and stockholders expressed as a percentage of capital contri

Average Daily Balance
A method for calculating interest in which the balance owed each day by a customer is divided by the

Average Down
A strategy used by investors to reduce the average cost of shares, in which the investor purchases m

Average Equity
A customer's average daily balance in a trading account at a brokerage firm.

Average Life
Also referred to as the weighted-average life (WAL). The average number of years that each dollar of

Average Maturity
The average time to maturity of securities held by a mutual fund. Changes in interest rates have gre

Average Rate Of Return (ARR)
The ratio of the average cash inflow to the amount invested.

Average Tax Rate
Taxes as a fraction of income; total taxes divided by total taxable income.

Average Up
A strategy used by investors to lower the overall cost of shares by buying as many shares with a giv

Away
A trade, quote, or market that does not originate with the dealer in question, e.g., 'the bid is 98-

Away From The Market
In context of general equities, out of line with the inside market at this time, such as when a bid

Away From Us
Used in context of general equities, to characterize role of a competing broker/dealer. Trading away

Axe To Grind
Used in context of general equities. Involvement in a security, whether through a position, order, o

Baby Bond
A bond with a par value of less than $1000.

Back Away
In the context of general equities, to withdraw from a previously declared interest, indication, or

Back Fee
The fee paid on the extension date if the buyer wishes to continue the option.

Back Months
In the context of futures and options trading, refers to the months of contracts with expiration dat

Back Office
Brokerage house clerical operations that support, but do not include, the trading of stocks and othe

Back On The Shelf
In the context of general equities, permanently cancelled order/interest in a stock by a customer. S