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Superglossary - Finance Category: Economy and Finance > Finance Date & country: 16/12/2013, USA Words: 5410

Equity Floor
An agreement to contribute equity to a project under certain specified conditions.

Equity Funding
An agreement in which one party agrees to pay the other at specific time periods if a specific stock

Equity Kicker
An investment consisting of a life insurance policy and a mutual fund. The insurance policy is paid

Equity Market
Stock warrants issued attached to privately placed bonds.

Equity Multiplier
Related

Equity Options
Total assets divided by total common stockholders' equity; the total assets per dollar of stockholde

Equity REIT
Securities that give the holder the right (but not the obligation) to buy or sell a specified number

Equity Swap
A Real Estate Investment Trust that assumes ownership status in the property it invests in enabling

Equity-Linked Policies
Stockholders; those holding shares of the firm's equity.

Equityholders
A swap in which the cash flows exchanged are based on the total return on some stock market index an

Equivalent Annual Annuity
Related

Equivalent Annual Benefit
The amount per year for some number of years that has a present value equal to a given amount.

Equivalent Annual Cash Flow
The annual annuity with the same value as the net present value of an investment project.

Equivalent Annual Cost
Annuity with the same net present value as the company's proposed investment.

Equivalent Bond Yield
The cost per year of owning an asset over its entire life.

Equivalent Loan
Annual yield on a short-term, noninterest-bearing security calculated for comparison to yields quote

Equivalent Taxable Yield
Given the after-tax stream associated with a lease, the maximum amount of conventional debt that the

Erosion
The yield that must be offered on a taxable bond issue to give the same after-tax yield as a tax-exe

Escalator Clause
A negative impact on one or more of a firm's existing assets.

Escrow
Provision in a contract allowing cost increases to be passed on. In an employment contract, for exam

Escrow Receipt
Property or money held by a third party until the agreed upon obligations of a contract are met.

Escrowed To Maturity (ETM)
A document provided by a bank in options trading to guarantee that the underlying security is on dep

Estate Tax
Holding of the proceeds from a new bond issue to pay off an existing bond issue at its maturation da

Ethics
A federal or state tax imposed on an individual's assets inherited by heirs.

EUREX
Standards of conduct or moral judgment.

Euro
The European derivatives exchange formed in 1998 by a merger of the Deutsche Terminb

Euro Cds
Originally for a deposit outside one's home country but in the home country currency. This terminolo

Euro Lines
CDs issued by a U.S. bank branch or foreign bank located outside the U.S. Almost all Euro CDs are is

Euro Straight
Lines of credit granted by banks (foreign or foreign branches of U.S. banks) for Eurocurrencies.

Euro-Commercial Paper
One of two principal clearing systems in the Eurobond market. It began operations in 1968, is locate

Euro-Medium Term Note (Euro-MTN)
Securities sold in the Euromarket. That is, securities initially sold to investors simultaneously in

Euro-Note
A nonunderwritten Euronote issued directly to the market. Euro-MTNs are offered continuously rather

Euro.NM
A fixed-rate coupon Eurobond.

Eurobank
Created on March 1, 1996, Euro.NM is a pan-European network of regulated markets dedicated to growth

Eurobond
A bank that regularly accepts foreign currency-denominated deposits and makes foreign currency loans

Eurocredits
Short-term notes with maturities up to 360 days that are issued by companies in international money

Eurocurrency
Intermediate-term loans of Eurocurrencies made by banking syndicates to corporate and government bor

Eurocurrency Deposit
Instrument issued outside your country, but denominated in your currency. A Eurodollar is a Certific

Eurocurrency Market
A short-term fixed-rate time deposit denominated in a currency other than the local currency (i.e.,

Eurodollar
The money market for borrowing and lending currencies that are held in the form of deposits in banks

Eurodollar Certificate Of Deposit
Eurobonds denominated in U.S.dollars.

Euroequity Issues
A certificate of deposit paying interest and principal in dollars, but issued by a bank outside the

European Central Bank (ECB)
European equivalent of NASDAQS.

European Currency Unit (ECU)
Bank created to monitor the monetary policy of the 11 countries that have converted to the Euro from

European Monetary System (EMS)
An index of foreign exchange consisting of European currencies, originally devised in 1979. See also

European Option
An exchange arrangement formed in 1979 that governs the currencies of European Union member countrie

European Options Exchange (EOE)
Option that may be exercised only at the expiration date. Related

European Union (EU)
Now AEX-Optiebeurs. See

European-Style Exercise
An economic association of European countries founded by the Treaty of Rome in 1957 as a common mark

European-Style Option
A method of exercising options contracts in which the buyer can exercise the contract on the last da

Euroyen Bonds
An option contract that can be exercised only on the expiration date.

Evaluation Period
Eurobonds denominated in Japanese yen.

Evening Up
The time interval over which funds assess a money manager's performance.

Event Risk
Buying or selling to offset an existing market position.

Event Study
The risk that the ability of an issuer to make interest and principal payments will change because o

Events Of Default
A statistical study that examines how the release of information affects prices at a particular time

Evergreen Credit
Contractually specified events that allow lenders to demand immediate repayment of a debt.

Evergreen Funding
Revolving credit without maturity.

Ex Ante Return
A British term referring to the gradual injection of capital into a new or existing enterprise.

Ex Post Return
The expected return or anticipated return of an asset or portfolio.

Ex-All
A bond portfolio management strategy that involves finding the lowest cost portfolio generating cash

Ex-Dividend
In the context of general equities, having sole possession of the customer order/indication; not in

Ex-Dividend Date
This literally means 'without dividend.' The buyer of shares when they are quoted ex-dividend is not

Ex-Legal
The low price at which a broker must liquidate a client's holding in a stock purchased in a margin a

Ex-Pit Transaction
The last day (in the case of American-style) or the only day (in the case of European-style) on whic

Ex-Rights
Used in the context of general equities. Remove any trace of an Autex indication's existence at any

Ex-Rights Date
Shares of stock that are trading without rights attached.

Ex-Stock Dividends
The date on which a share of common stock begins trading ex-rights.

Ex-Warrants
Models that apply a formula to historical data and project results for a future period. Such models

Exact Interest
Related

Exact Matching
Interest paid based on the basis of a 365-day/year schedule by a bank or other financial institution

Except For Opinion
The sale of a security without the privileges associated with the security such as dividends, voting

Excess Kurtosis
An auditor's opinion reflecting the fact that the auditor is unable to audit certain areas of the co

Excess Margin
Kurtosis measures the 'fatness' of the tails of a distribution. Excess kurtosis means that distribut

Excess Profits Tax
Equity present in an individual's account above the legal minimum required for a margin account or t

Excess Reserves
Additional federal taxes placed on the earnings of a business, used only in time of national emergen

Excess Returns
Difference between the return on the market portfolio and the riskless rate.

Exchange
Difference between asset return and riskless rate. Sometimes confused with abnormal returns, returns

Exchange Controls
A marketplace in which shares, options and futures on stocks, bonds, commodities, and indexes are tr

Exchange Distribution
Government restrictions on the purchase of foreign currencies by domestic citizens or on the purchas

Exchange Of Assets
Investment vehicle introduced in 1999 that appeals to wealthy investors with large holdings in a sin

Exchange Of Stock
Acquisition of another company by purchase of its assets in exchange for cash or stock.

Exchange Offer
Acquisition of another company by purchase of its stock in exchange for cash or shares.

Exchange Privilege
An offer by a firm to give one security, such as a bond or preferred stock, in exchange for another

Exchange Rate
A mutual fund shareholder's right to switch from one fund to another within one fund family, usually

Exchange Rate Mechanism (ERM)
The price of one country's currency expressed in another country's currency.

Exchange Rate Risk
The methodology by which members of the EMS maintain their currency exchange rates within an agreed-

Exchange Risk
Also called currency risk; the risk that an investment's value will change because of currency excha

Exchange, The
The variability of a firm's value that results from unexpected exchange rate changes, or the extent

Exchangeable
A nickname for the New York Stock Exchange. Also known as the Big Board, where more than 2000 common

Exchangeable Instrument
Applies mainly to convertible securities. Means the issuer, if so stated, may substitute a convertib

Exchangeable Security
Applies mainly to convertible securities. Bond or preferred stock that may be exchangeable into the

Excise Tax
Investment instrument that grants its holder the right to exchange it for the common stock of a firm

Exclusionary Self-Tender
Federal or state tax placed on the sale or manufacture of a commodity, typically a luxury item e.g.,

Exclusive
A firm's offer to buy a given amount of its own stock while excluding targeted stockholders.

Execution
The first day of trading when the seller, rather than the buyer, of a stock will be entitled to the

Execution Costs
The process of completing an order to buy or sell securities. Once a trade is executed, it is report

Exempt Securities
The difference between the execution price of a security and the price that would have existed in th

Exemption
Instrumentsexempt from the registration requirements of the Securities Act of 1933 or the margin req

Exercise
Direct reductions from gross income allowed by the IRS.