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

Fractional Share
A type of order that gives the broker discretion to alter the price, up or down, within a specific f

Frankfurt Stock Exchange
Stocks ammounting to less than one full share, usually resulting from splits, acquisitions, exchange

Free Box
A Congressionally chartered corporation that purchases residential mortgages in the secondary market

Free Cash Flows
A bank vault or other suitable storage place for the securities of a firm's customer.

Free Delivery
Cash not required for operations or for reinvestment. Often defined as earnings before interest (oft

Free Float
Securities industry procedure whereby delivery of securities sold is made to the buying customer's b

Free On Board (FOB)
An exchange rate system characterized by the absence of government intervention. Also known as clean

Free Reserves
Implies that distribution services like transport and handling performed on goods up to the customs

Free Rider
Excess reserves minus member bank borrowings at the Fed.

Free Right Of Exchange
A follower who avoids the cost and expense of finding the best course of action simply by mimicking

Free Stock
An investor's right to transfer securities from one name to another name without paying charges that

Free To Trade
A stock that is paid for in full and is not pledged in any way as collateral.

Free-Riding
A term used to indicate that an underwriting syndicate's members are no longer restricted to the fix

Freed Up
Used in the context of general equities. Not subject to any internal (restricted list) or external r

Freeze Out
A forbidden practice in which the member of an underwriting syndicate retains a portion of an initia

Frequency Distribution
The action of pressurizing shareholders with relatively minor amounts of stock to sell their shares

Fresh Picture
The organization of data to show how often certain values or ranges of values occur.

Fresh Signal
Updated estimation of a stock or market, usually following recent trading activity or news that has

Friction Costs
Piece of information (fundamental or technical) leading one to believe a stock will move in a certai

Frictional Cost
Costs, both implied and direct, associated with a transaction. Such costs include time, effort, mone

Frictions
The difference between an index fund return and the index it represents. The typically lower rate of

Friendly Takeover
The 'stickiness' involved in making transactions; the total process including time, effort, money, a

Front Fee
Merger when the target firm's management and board of directors is in favor of the takeover. Antithe

Front Office
The fee initially paid by the buyer upon entering a split-fee option contract.

Front Running
Refers to revenue generating sales personnel in a brokerage, insurance, or other financial services

Front-End Load
Entering into options or futures contracts with advance knowledge of a block transaction that will i

Frozen Account
The fee applied to an investment at the time of initial purchase, e.g., on a mutual fund purchased f

Fry A Bigger Fish
A disciplinary action taken by the Federal Reserve Board for some violation of Regulation T, an indi

Full
Used in the context of general equities. Work on a trade of larger size than a trade just disclosed.

Full Coupon Bond
Handle.

Full Disclosure
A bond with a coupon equal to the going market rate; the bond is therefore selling at par.

Full Faith-And-Credit Obligations
Describes exchange and government regulations providing for the release and free exchange of all inf

Full Price
The security pledges for larger municipal bond issuers, such as states and large cities that have di

Full Trading Authorization
Also called dirty price; the price of a bond including accrued interest. Related

Full-Service Broker
Indication that a broker with a discretionary account can operate free of all trading guidelines fro

Full-Service Lease
A broker who provides clients an all-inclusive selection of services such as advice on security sele

Fully Depreciated
Also called rental lease. Arrangement in which lessor promises to maintain and insure the equipment

Fully Diluted Earnings Per Shares
An asset that has already been charged with the maximum amount of depreciation allowed by the IRS fo

Fully Distributed
Earnings per share expressed as if all outstanding convertible securities and warrants have been exe

Fully Invested
A new stock issue that has been completely resold to the investing public and is no longer held by d

Fully Modified Pass-Throughs
Used to describe an investor whose assets are totally committed to investments, typically stock.

Fully Valued
Agency pass-throughs that guarantee the timely payment of both interest and principal. Related

Fun Money
Used in the context of general equities. Said of a stock that has reached a price at which analysts

Functional Currency
Money that can be used to invest in risky investments with high potential return.

Fund Family
As defined by FASB No. 52, an affiliate's functional currency is the currency of the primary economi

Fund Manager
Set of funds with different investment objectives offered by one management company. In many cases,

Fund Of Funds
The person whose responsibility it is to oversee the allocation of the pool of money invested in a p

Fund Switching
A mutual fund or hedge fund that invests in other funds.

Fundamental Analysis
Moving money within a mutual fund family from one mutual fund to another.

Fundamental Beta
Security analysis that seeks to detect misvalued securities through an analysis of the firm's busine

Fundamental Descriptors
The product of a statistical model to predict the fundamental risk of a security using not only pric

Funded Debt
In the model for calculating fundamental beta, ratios in risk indexes other than market variability,

Funded Pension Plan
Debt maturing after more than one year.

Funding
A pension plan in which all liabilities, including payments to be made to pensioners in the immediat

Funding Ratio
Used to describe the refinancing of a debt prior to its maturity (the same as refunding). In corpora

Funding Risk
The ratio of a pension plan's assets to its liabilities.

Funds From Operations (FFO)
Related

Fungibility
Used by real estate and other investment trusts to define the cash flow from trust operations; earni

Furthest Month
The substitutability of listed options, which is dependent upon their common expiration dates and st

FUTOP
Used in the context of commodities or options trading to refer to the month that is away from the co

Future
The Danish derivatives market, merged with the Copenhagen Stock Exchange in 1997.

Future Investment Opportunities
A term used to designate all contracts covering the sale of financial instruments or physical commod

Future Value
The identification of additional, more valuable, investment opportunities in the future that result

Futures
The amount of cash at a specified date in the future that is equivalent in value to a specified sum

Futures Commission Merchant (FCM)
A term used to designate all contracts covering the sale of financial instruments or physical commod

Futures Contract
A firm or person engaged in soliciting or accepting and handling orders for the purchase or sale of

Futures Contract Multiple
Agreement to buy or sell a set number of shares of a specific stock in a designated future month at

Futures Market
A constant set by an exchange, which when multiplied by the futures price gives the dollar value of

Futures Option
A market where contracts for future delivery of a commodity or a security are bought or sold.

Futures Price
An option on a futures contract. Related

GAAP
Fifth letter of a Nasdaq stock symbol specifying that the issue is the first convertible bond of the

Gaijin
An acronym for Generally Accepted Accounting Principles. Accountants follow GAAP standards, conventi

Gain
Japanese term used to describe a nonJapanese investor in Japan.

Gamma
A profit on a securities transaction recognized by selling a security for more than the security ori

Gap
The ratio of a change in the option delta to a small change in the price of the asset on which the o

Gap Opening
Financing that is required, but for which no provision has been made. The difference in total fundin

Garage
In the context of general equities, opening price that is substantially higher or lower than the pre

Garbatrage
The floor of the NYSE, which is situated on the north side of the main trading floor.

Gather In The Stops
A model widely used to price foreign currency options.

GDP Implicit Price Deflator
A market strategy in which investors sell stocks to drive prices to a level that breaks through stop

Gearing
An economic technique used to account for inflation by comparing the current-dollar gross domestic p

GEM (Growing Equity Mortgage)
Financial leverage.

General Account
Mortgage in which annual increases in monthly payments are used to reduce outstanding principal and

General Cash Offer
A treaty adopted by the United Nations aimed at elimination of international trade barriers between

General Ledger
A public offering made to investors at large.

General Lien
Accountint records that show all the financial statement accounts of a business.

General Mortgage
The agreement governing the broker-dealer's borrowing against listed securities from a bank for the

General Obligation Bonds
A type of obligation that covers all a borrower's mortgageable properties, not just one specific pro

General Partner
Municipal securities secured by the issuer's pledge of its full faith, credit, and taxing power.

General Partnership
A participant who has unlimited liability for the obligations of a partnership.

General Revenue
A partnership in which all participants are general partners.

Generic
A trust in which a principal amount is placed in a trust on the death of person A and is transferred

Geographic Risk
Describes the characteristics and/or experience of the total universe of a coupon of MBS sector type

Geometric Mean Return
Risk that arises when an issuer issues policies concentrated within certain geographic areas, such a

Gestation Repo
Also called the time-weighted rate of return, a measure of the compound rate of growth of the initia

Get Hit
A reverse repurchase agreement between mortgage firms and securities dealers. Under the agreement, t

Get Out
Go lower in price, when bids in the stock or market are hit, causing those bids to vanish and be rep

Ghosting
Used in the context of general equities. Sell interest ('We could get out big size in Humana.')

Gift Inter Vivos
The illegal practice that one firm drives a stock's price higher or lower, while other conspiring fi

Gift Splitting
A piece of property or asset given from one living person to another.