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

Stub
An agreement in settlement of a lawsuit involving specific payments made over a period of time. Prop

Subchapter M
A publicly traded corporation established by federal action that increases availability of education

Subchapter S
An IRS regulation dealing with investment companies and real estate investment trusts that avoid dou

Subject
IRS regulation that gives a corporation with 35 or fewer shareholders the option of being taxed as a

Subject Market
Refers to a bid or offer that cannot be executed without confirmation from the customer. In other wo

Subject To A (NY) Can
Quote in which prices are subject to confirmation. See

Subject To Opinion
Contingent on execution of a trade because the picture in the stock has not been materially altered.

Subjective Probabilities
An auditor's opinion reflecting acceptance of a company's financial statements subject to pervasive

Subordinated Debenture Bond
Probabilities that are determined subjectively (for example, on the basis of judgment rather than st

Subordinated Debt
An unsecured bond that ranks after secured debt, after debenture bonds, and often after some general

Subordination Clause
Debt over which senior debt takes priority. In the event of bankruptcy, subordinated debtholders rec

Subpart F
A provision in a bond indenture that restricts the issuer's future borrowing by subordinating future

Subperiod Return
Special category of foreign-source 'unearned' income that is currently taxed by the IRS whether or n

Subrogation
The return of a portfolio over a shorter period of time than the evaluation period.

Subscription
An insurance process whereby a company that has paid out to a policyholder for a loss incurred recov

Subscription Agreement
Agreement to buy new issue of securities.

Subscription Price
An application reviewed by the general partner to join a limited partnership.

Subscription Privilege
Price that current shareholders pay for a share of stock in a rights offering.

Subscription Warrant
The right of current shareholders of a corporation to buy newly issued shares before they are availa

Subsidiary
Applies to derivative products. Type of security, usually issued with another security, such as a bo

Substitute Sale
A wholly or partially owned company that is part of a large corporation. A foreign subsidiary is a s

Substitution Swap
A method for hedging price risk that uses debt market instruments, such as interest rate futures, or

Suicide Pill
A swap in which a money manager exchanges one bond for another bond that is similar in terms of coup

Suitability Rules
A hostile takeover prevention tactic that could destroy the target company. Taking on a large amount

Sum Of The Years Digits (SYD)
Policies and guidelines that brokers must use to ensure that investors have the financial means to a

Sunk Costs
Method of accelerated depreciation.

Sunrise Industries
Costs that have been incurred and cannot be reversed.

Super Bowl Indicator
Growth industries in an economy that may become leaders in the market in the future.

Super DOT
A theory that if a team from the old American Football League pre-1970 wins the Super Bowl, the stoc

Super Sinker Bond
Super DOT provides faster execution than regular DOT and focuses on large-size trades and baskets. S

Supermajority
Usually a home financing bond, but also any other bond that has long-term coupons but short maturity

Supermajority Amendment
Provision in a company's charter requiring a majority of, say, 80% of shareholders to approve certai

Supervisory Analyst
Often used in risk arbitrage. Corporate amendment requiring that a substantial majority (usually 67%

Supplemental Security Income
An analyst who is qualified to approve publicly distributed research reports on the NYSE.

Supply Shock
A Social Security program established to help the blind, disabled, and poor.

Supply-Side Economics
An event that influences production capacity and costs in an economy.

Support Level
A theory of economics that reductions in tax rates will stimulate investment and in turn will benefi

Surcharge
A price level below which it is supposedly difficult for a security or market to fall. That is, the

Surety
An additional levy added to some charge.

Surplus Funds
An individual or corporation that guarantees the performance or actions of another.

Surplus Management
Cash flow available after payment of taxes in a project.

Surtax
Related

Sushi Bond
A department that monitors trading activity on an exchange in order to identify any unusual activity

Suspended Trading
A Eurobond issued by a Japanese corporation.

Suspense Account
Temporary halt in trading in a particular security, in advance of a major news announcement or to co

Sustainable Growth Rate
An account used temporarily to record receipts and disbursements that have yet to be classified.

Swap
Maximum rate of growth a firm can sustain without increasing financial leverage.

Swap Assignment
An arrangement in which two entities lend to each other on different terms, e.g., in different curre

Swap Buy Back
Related

Swap Rate
The sale of an interest rate swap by one counterparty to the other, effectively ending the swap.

Swap Reversal
The difference between spot and forward rates expressed in points, e.g., $0.0001 per pound sterling.

Swap Sale
An interest rate swap designed to end a counterparty's role in another interest rate swap, accomplis

Swaption
Also called a swap assignment, a transaction that ends one counterparty's role in an interest rate s

Sweat Equity
Options on interest rate swaps. The buyer of a swaption has the right to enter into an interest rate

Sweep Account
An increase in equity created by the labor of the owner.

Sweetener
Account providing that a bank invest all the excess available funds at the close of each business da

Swingline Facility
A feature of a security that makes it more attractive to potential purchasers.

Swiss Electronic Bourse (EBS)
Bank borrowing facility to provide finance while the firm replaces U.S. commercial paper with euroco

Swissy
The Swiss derivatives market with the first fully electronic trading system in the world, now called

Switch Order
Slang for the Swiss franc.

Switching
Order for the purchase (sale) of one stock and the sale (purchase) of another stock at a stipulated

Sydney Futures Exchange (SFE)
Liquidating a position and simultaneously reinstating a position in another futures contract of the

Symbol
The derivatives market of Australia.

Symbol Book Special
Letters used to identify companies on the consolidated tape and other locations.

Symmetric Cash Matching
Illiquid, inactively traded stock not familiar market

Synchronous Data
An extension of cash flow matching that allows for the short-term borrowing of funds to satisfy a li

Syndicate
Information available at the same time. To test option-pricing models, the price of the option and o

Synergistic Effect
A group of banks that acts jointly, on a temporary basis, to loan money in a bank credit (syndicated

Synthetic Convertible
A violation of value-additivity in that the value of a combination is greater than the sum of the in

Synthetics
Combination of usable bonds and warrants (that expire on or after the bonds' maturity) that resemble

Systematic
Customized hybrid instruments created by blending an underlying price on a cash instrument with the

Systematic Investment Plan
Common to all businesses.

Systematic Risk
An approach involving regular investments in order to take advantage of dollar-cost averaging.

Systematic Risk Principle
Also called undiversifiable risk or market risk.

Systematic Withdrawal Plan
Only the systematic portion of risk matters in large, well-diversified portfolios. Thus, expected re

Tactical Asset Allocation (TAA)
Fifth letter of a Nasdaq stock symbol indicating that the stock has warrants or rights.

Tail
Portfolio strategy that allows active departures from the normal asset mix according to specified ob

Tailgating
(1) The difference between the average price in Treasury auctions and the stopout price. (2) A futur

Taiwan Stock Exchange
Purchase of a security by a broker after the broker places an order for the same security for a cust

Take
Exchange of the Republic of China in Taipei.

Take A Bath
(1) To agree to buy. A dealer or customer who agrees to buy at another dealer's offered price is sai

Take A Flier
To sustain a loss on either a speculation or an investment.

Take A Position
To speculate on highly risky securities.

Take A Powder
To buy or sell short; that is to own or to owe some amount on an asset or derivative security.

Take A Swing
Temporarily cancel an order or indication in a stock, while unrepresented interest still exists. See

Take It Down
Execute a trade at a price that the trader feels is higher or more risky than would normally be acce

Take Off
Reduce the offering price or hit others' bids to such an extent as to lower the inside market.

Take The Offer
A sharp increase in the price of a stock, or a positive movement of the market as a whole.

Take-Or-Pay Contract
The share of securities of each participating investment banker in a new or a secondary offering, or

Take-Out
An agreement that obligates the purchaser to take any product that is offered (and pay the cash purc

Take-Up Fee
Requiring some price movement or concession on behalf of the initiating party before a trade can be

Takedown
Buy stock by accepting a floor broker's (listed) or dealer's (OTC) offer at an agreed-upon volume. A

Takeover
A cash surplus generated by the sale of one block of securities and the purchase of another, e.g., s

Takeover Target
General term referring to transfer of control of a firm from one group of shareholders to another gr

Takes A Call
A company that is the object of a takeover attempt, friendly or hostile.

Takes Price
Requires a phone call to an account in order for a trade to be completed. See

Taking A View
A fee paid to an underwriter in connection with an underwritten rights offering or an underwritten f

Taking Delivery
A London expression; means forming an opinion as to where market prices are headed and acting on it.

Tandem Programs
When the buyer actually assumes possession from a seller of assets agreed upon in a forward contract

Tangible Asset
Ginnie Mae mortgage funds provided at below-market rates to residential MBS buyers with FHA Section