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

May Expand
Used in the context of general equities. Warning that the size of the order/total may be increased.

MBS Depository
A book-entry depository for GNMA securities. The depository was initially operated by MBSCC and is n

MBS Servicing
The requirement that the mortgage servicer maintain payment of the full amount of contractually due

Meals And Entertainment Expense
A tax deduction allowed for meals and entertainment expenses incurred in the course of business.

Mean
The expected value of a random variable. Arithmetic average of a sample.

Mean Of The Sample
The arithmetic average; that is, the sum of the observations divided by the number of observations.

Mean-Variance Analysis
Evaluation of risky prospects based on the expected value and variance of possible outcomes.

Mean-Variance Criterion
The selection of portfolios based on the means and variances of their returns. The choice of the hig

Mean-Variance Efficient Portfolio
Related

Measurement Error
Errors in measuring an explanatory variable in a regression, which leads to biases in estimated para

Medium-Term Bond
A bond maturing in two to ten years.

Medium-Term Note
A corporate debt instrument that is continuously offered to investors over a period of time by an ag

Meff Renta Fija
The derivatives exchange in Barcelona, Spain, listing futures and options on fixed interest securiti

Meff Renta Variable
Spain's screen-based trading of stock index and equity derivatives market in Spain trading futures a

Member Bank
A national- or state-chartered bank that is a member of the Federal Reserve System.

Member Firm
Used for listed equity securities. Brokerage firm that has at least one membership on a major stock

Member Short Sale Ratio
The total shares sold short by NYSE members divided by total short sales, which is used to analyze m

Menu
Used in the context of general equities. Hierarchy of choices concerning price and volume of bids or

Mercantile Agency
An organization that supplies credit ratings and reports on firms that are prospective customers.

Mercato Italiano Futures (MIF)
The Italian futures market trading Italian Treasury bond (BTF) futures.

Merchandise
All movable goods such as cars, textiles, or appliances.

Merchant Bank
A British term for a bank that specializes not in lending its own funds, but in providing various fi

Merger
(1) Acquisition in which all assets and liabilities are absorbed by the buyer. (2) More generally, a

Mexican Stock Exchange
The only stock exchange in Mexico. The Indice de Precios y Cotizaciones, or IPC index, consists of t

Mezzanine Bracket
The members of an underwriting group with involvement large enough to be just below the top tier.

Mezzanine Financing
The stage of financing that follows venture capital financing.

Mezzanine Level
The period in a company's development just before it goes public.

Microeconomics
Analysis of the behavior of individual economic units such as companies, industries, or households.

Midcap
A stock with a capitalization of usually between $1 billion and $5 billion.

Midcap Spdrs
This is the same as a SPDR, except that the index it tracks is Standard & Poor's Midcap 400. This SP

Milan Stock Exchange
The largest regional stock exchange in Italy, facilitating more than 90% of the country's trading vo

Miller, Merton
Nobel Laureate and co-author of the famous Miller-Modigliani theorems. Finance professor at the Univ

Mimic
An imitation that sends a false signal.

Mini-Manipulation
Trading in the underwriting security of an option contract in order to manipulate its price so that

Minimum Maintenance
The lowest required equity level that must be held with a broker in a margin account. See

Minimum Price Fluctuation
Smallest increment of price movement possible in trading a given contract. Also called point or tick

Minimum Purchases
For mutual funds, the amount required to open a new account (minimum initial purchase) or to deposit

Minimum-Variance Frontier
Graph of the lowest possible portfolio variance that is attainable for a given portfolio expected re

Minimum-Variance Portfolio
The portfolio of risky assets with lowest variance.

Minority Interest
An outside ownership interest in a subsidiary that is consolidated with the parent for financial rep

Minus
The symbol (-) that precedes the change figure in a stock table to indicate a closing sale lower tha

Miscellaneous Current Assets
An account for current assets that do not fall into the following categories

Miscellaneous Current Liabilities
An account for current liabilities that do not fall into any of the categories already defined. Exam

Miscellaneous Expenses
An account for operating expenses that do not fall into any of the predefined categories such as sal

Miscellaneous Non-Current Assets
An account for assets not including current assets, property, plant and equipment, intangibles, depo

Misery Index
An index that sums the unemployment and inflation rates, used as a political rating or measure of co

Mismatch Bond
Floating-rate note whose interest rate is reset at more frequent intervals than the rollover period

Miss The Price-Market
Used for listed equity securities. (1) Have an order in hand but fail to execute a transaction on te

Mixed Account
A brokerage account holding both long and short positioned securities.

Mixed Bag
Used in the context of general equities. Group of stocks including some that are up, some down, and

Mob Spread
The yield spread between a tax-free municipal bond and a Treasury bond with the same maturity.

Mock Trading
The simulated trading of securities used as a learning device in training investors and brokers.

Modeling
The process of creating a depiction of reality, such as a graph, picture, or mathematical representa

Modern Portfolio Theory
Principles underlying the analysis and evaluation of rational portfolio choices based on risk-return

Modified Duration
The ratio of Macaulay duration to (1 + y), where y = the bond yield. Modified duration is inversely

Modified Pass-Throughs
Agency pass-throughs that guarantee (1) timely interest payments and (2) principal payments as colle

Modigliani And Miller Proposition I
A proposition by Franco Modigliani and Merton Miller that states that a firm cannot change the total

Momentum
The amount of acceleration of an economic, price, or volume movement. A trader who follows a movemen

Momentum Indicators
Indicators used in market analysis to quantify the momentum of upward and downward price movements.

Monetarist
An economist who believes that changes in the money supply are the most important determinants of ec

Monetary Gold
Gold held by government authorities as a financial asset.

Monetary Indicators
Economic indicators of the effects of monetary policy, such as the condition of the credit market.

Monetary Policy
Actions taken by the Board of Governors of the Federal Reserve System to influence the money supply

Monetary-Nonmonetary Method
Under this translation method, monetary items (e.g. cash, accounts payable and receivable, and long-

Monetize The Debt
Financing the national debt by printing new money, which causes inflation as a result of a larger mo

Money
Currency and coin that are guaranteed as legal tender by the government.

Money Base
Composed of currency and coins outside the banking system plus liabilities to the deposit money bank

Money Center Banks
Banks that raise most of their funds from the domestic and international money markets, relying less

Money Management
Related

Money Manager
Related

Money Market
Money markets are for borrowing and lending money for three years or less. The securities in a money

Money Market Demand Account (MMDA)
An account that pays interest based on short-term interest rates.

Money Market Fund
A mutual fund that invests only in short-term securities, such as banker's acceptances, commercial p

Money Market Hedge
The use of borrowing and lending transactions in foreign currencies to lock in the home currency val

Money Market Notes
Publicly traded issues that may be collateralized by mortgages and mortgage backed securities (MBS).

Money Order
A financial instrument backed by a deposit at a certain firm such as a bank that can be easily conve

Money Purchase Plan
A defined benefit contribution plan in which the participant contributes some part and the firm cont

Money Rate Of Return
Annual money return as a percentage of asset value.

Money Supply
M1-A

Monitor
To seek information about an agent's behavior; a mechanism that provides such information.

Monopoly
Market characterized by absolute control of all sales and distribution in the market by one firm, du

Monopsony
Market characterized by the existence of only one buyer in a market, forcing sellers to accept a low

Monte Carlo Simulation
An analytical technique for solving a problem by performing a large number of trail runs, called sim

Monthly Investment Plan
A plan in which a certain amount is invested each month in order to benefit from dollar cost averagi

Moodys Investment Grade
A rating of one through four assigned by Moody's Investor Service to municipal short-term bonds.

Moodys Investors Service
A security and bond rating agency publishing bond manuals and a common stock handbook annually.

Moral Hazard
The risk that the existence of a contract will change the behavior of one or both parties to the con

Moral Obligation Bond
A tax-exempt bond issued by a municipality or a state financial intermediary that is backed by the m

More Behind It
Used in the context of general equities. More stock exists to be bought or sold by the same buyer or

Morningstar Rating System
A proprietary ranking of mutual funds and annuities issued by Morningstar Inc. of Chicago.

Mortality Tables
Tables of probability that individuals of various ages will die within one year.

Mortgage
A long-term debt instrument for the purchase of property by which the borrower uses the property its

Mortgage
A loan secured by the collateral of some specified real estate property that obliges the borrower to

Mortgage Banker
A company or individual that originates mortgage loans and sells them to investors, while taking car

Mortgage Bond
A bond whose issuer has granted bondholders a lien against pledged assets. See

Mortgage Broker
A company or individual that places mortgage loans with lenders, but does not originate or service l

Mortgage Duration
A modification of standard duration to account for the impact on duration of MBS of changes in prepa

Mortgage Interest Deduction
A federal tax deduction for interest paid on a mortgage used to acquire, construct, or improve a res

Mortgage Life Insurance
A life insurance policy that pays off the remaining balance of the insured person's mortgage at deat

Mortgage Pass-Through Security
Also called a pass-through, a security created when one or more mortgage holders form a collection (