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

Soft Dollars
A money of a country that is expected to drop in value relative to other currencies.

Soft Landing
The value of research services that brokerage houses supply to investment managers 'free of charge'

Soft Market
A term describing a growth rate high enough to keep the economy out of recession, but also slow enou

Soft Spot
A buyer's market in which supply exceeds demand, causing little trading activity and wide bid-ask sp

Softs
Stocks or groups of stocks that remain weak in a strong market.

Sold Away
Tropical commodities such as coffee, sugar, and cocoa.

Sold-Out Market
Refers to over-the-counter trading. Having sold stock to another dealer before making the present of

Sole Proprietorship
Unavailability of a futures contract in a particular commodity or maturity date because of contract

Solvency
A business owned by a single individual. A sole proprietor pays no corporate income tax but has unli

Solvency
Ability to meet obligations.

Sour Bond
A company's ability to satisfy its obligations to creditors when they are due. A company is 'technic

Source Of Funds Seller
A bond issue that has defaulted on interest or principal payments, and will thus trade at a large di

Sovereign Risk
Electronic futures and options exchange based in South Africa.

Span
The risk that a central bank will impose foreign exchange regulations that will reduce or negate the

Spdrs
To cover all contingencies within a specified range.

Special Arbitrage Account
SPDRs (Spiders) are designed to track the value of the Standard & Poor's 500 Composite Price Index.

Special Assessment Bond
A margin account with lower cash requirements, reserved for transactions that are hedged by an offse

Special Bid
A municipal bond with interest paid by the taxes of the community benefiting from the bond-funded pr

Special Bond Account
A method of purchasing a large block of stock on the NYSE by advertising a client's large buy order,

Special Dividend
A special broker margin account used only for transactions in U.S. government bonds, municipals, and

Special Drawing Rights (SDR)
Also referred to as an extra dividend. Dividend that is unlikely to be repeated.

Specialist
A form of international reserve assets, created by the IMF in 1967, whose value is based on a portfo

Specialist Block Purchase And Sale
On an exchange, the member firm that is designated as the market maker (or dealer for a listed commo

Specialist Market
Purchase of a large number of securities by a specialist for himself or to pass on to another floor

Specialist Unit
Market in a stock made solely by the specialist, as no public orders, and henceforth no depth, exist

Specialists Book
A specialist who maintains a stable market by acting as a principal and agent for other brokers in o

Specialists Short-Sale Ratio
Chronological record maintained by a specialist that includes the specialist's own inventory of secu

Specific Issues Market
The percentage of the total short sales of stock sold short by specialists.

Spectail
The market in which dealers reverse in securities they wish to short.

Speculation
A dealer doing business with retail but concentrating more on acquiring and financing its own specul

Speculative Demand (For Money)
Purchasing risky investments that present the possibility of large profits, but also pose a higher-t

Speculative Motive
The need for cash to take advantage of investment opportunities that may arise.

Speculative-Grade Bond
A desire to hold cash in order to be poised to exploit any attractive investment opportunity requiri

Speculator
Bond rated BA or lower by Moody's, or BB or lower by S&P, or an unrated bond.

Speed
One who attempts to anticipate price changes and, through buying and selling contracts, aims to make

Spike
Related

Spin-Off
Order ticket that shows the stock, price, number of shares, type, and account of the order. Origin:

Spins
A company can create an independent company from an existing part of the company by selling or distr

Split
Stands for Standard & Poor's 500 Index Subordinated Notes.

Split Commission
Sometimes, companies split their outstanding shares into more shares. If a company with 1 million sh

Split Offering
A commission shared between a broker and a financial adviser or other professional who brought the c

Split Order
A municipal bond issue that is made up of serial bonds and term maturity bonds.

Split Print
A large securities transaction that is divided into smaller orders that are spread out over some per

Split Rating
Block trade printed at two different prices. Often used in dividend rolls to get an average price eq

Split Stock
Two different ratings given to the same security by two important rating agencies.

Split-Coupon Bond
(1) Purchases or sales shared with others. (2) Division of the outstanding shares of a corporation i

Split-Fee Option
A bond that begins as a zero-coupon bond paying no interest and converts to an interest paying bond

Split-Rate Tax System
An option on an option. The buyer generally executes the split fee with first an initial fee, with a

Spoken For
A tax system that taxes retained earnings at a higher rate than earnings that are distributed as div

Sponsor
Amount of opposite demand (placement) or supply (availability) the trader has in efforts to cross th

Spot Commodity
An underwriting investment company that offers shares in its mutual funds, or an influential institu

Spot Exchange Rates
A commodity that is traded with the expectation of actual delivery, as opposed to a commodity future

Spot Futures Parity Theorem
Exchange rate on currency for immediate delivery. Related

Spot Interest Rate
Describes the theoretically correct relationship between spot and futures prices. Violation of the p

Spot Lending
Interest rate fixed today on a loan that is made today. Related

Spot Markets
Originating mortgages by processing applications taken directly from prospective borrowers.

Spot Month
Related

Spot Price
The nearest delivery month on a futures contract.

Spot Rate
The current market price of the actual physical commodity. Also called cash price. Current delivery

Spot Rate Curve
The theoretical yield on a zero-coupon Treasury security.

Spot Secondary
The graphical depiction of the relationship between the spot rates and maturity.

Spot Trade
Secondary distribution that may not require an SEC registration statement and may be attempted witho

Spousal IRA
The purchase and sale of a foreign currency, commodity, or other item for immediate delivery.

Spousal Remainder Trust
An individual retirement account in the name of an unemployed spouse.

Spread
A fixed-term trust from which income is distributed to the beneficiary (such as a child of the grant

Spread Income
(1) The gap between bid and ask prices of a stock or other security. (2) The simultaneous purchase a

Spread Option
Also called margin income, the difference between income and cost. For a depository institution, the

Spread Order
A position consisting of the purchase of one option and the sale of another option on the same under

Spread Position
An order listing the series of options that the customer wants to buy and sell and the desired sprea

Spread Strategy
The status of an account after a spread order has been carried out.

Spreadsheet
A strategy that involves a position in one or more options so that the cost of buying an option is f

Sprinkling Trust
A computer program that organizes numerical data into rows and columns in order to calculate and mak

SPX
A trust in which the trustee decides how to distribute trust income among a group of designated peop

Squeeze
Applies to derivative products. Symbol for the S&P 500 index.

SS1
Period when stocks or commodities futures increase in price and investors who have sold short must c

Stabilization
Securities sales speaker box that transmits to all investment banks' regional trading and sales desk

Stag
The action undertakes a country when it buys and sells its own currency to protect its exchange valu

Stagflation
Speculator who buys and sells stocks to hold for short intervals to make quick profits.

Staggered Board Of Directors
A period of slow economic growth and high unemployment with rising prices (inflation).

Staggering Maturities
Occurs when a portion of directors are elected periodically, instead of all at once. Board terms are

Stagnation
Hedging against interest rate movements by investment in short-, medium-, and long-term bonds.

Stakeholders
A period of slow economic growth, or, in securities trading, a period of inactive trading.

Stamp Duty
All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondho

Stand Up To
Applies mainly to international equities. Taxes on foreign transactions, usually a percentage of tot

Stand-Alone Principle
Make a good-sized market in the trader's own bid and offering prices. Hence, 'standing up' to the bi

Standard Costs
Investment approach that advocates a firm should accept or reject a project by comparing it with sec

Standard Costs Plus Variances
A target or average cost that can be used either to value inventory or as a basis of comparison with

Standard Deduction
The method of calculating cost of sales that compares the amounts of materials, direct labor and ove

Standard Deviation
The IRS-specified amount by which a taxpayer is entitled to reduce income an alternative to itemizin

Standard Error
The square root of the variance. A measure of dispersion of a set of data from its mean.

Standardized Normal Distribution
A code system that designates a unique business activity classified by industry.

Standardized Value
A normal distribution with a mean of 0 and a standard deviation of 1.

Standby Agreement
Also called the normal deviate, the distance of one data point from the mean, divided by the standar

Standby Commitment
In a rights issue, agreement that the underwriter will purchase any stock not purchased by investors

Standby Fee
An agreement between a corporation and investment firm that the firm will purchase whatever part of

Standing
Amount paid to an underwriter who agrees to purchase any stock that is not purchased by public inves

Standstill Agreement
Level of priority in the trading crowd.

Start-Up
Contract by which the bidding firm in a takeover attempt agrees to limit its holdings of another fir

State Bank
The earliest stage of a new business venture.

Stated Annual Interest Rate
A bank authorized in a specific state by a state-based charter, with generally the same functions as