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

TT and L Account
Canadian form of a S&P 500.

Turkey
Treasury tax and loan account at a bank.

Turn
A losing investment.

Turnaround
In the equities market, a reversal; unwind.

Turnaround Time
Securities bought and sold for settlement on the same day. Also describes a firm that has been perfo

Turnkey Construction Contract
Time available or needed to effect a turnaround.

Turnover
A type of construction contract under which the construction firm is obligated to complete a project

Turns
For mutual funds, a measure of trading activity during the previous year, expressed as a percentage

Twenty Bond Index
Another term for inventory turns.

Twenty-Day Period
A benchmark indicator of the level of municipal bond yields. It consists of the yields on 20 general

Twisting
The period during which the SEC inspects registration statement and preliminary prospectus prior to

Two Dollar Broker
Convincing a customer that trades are necessary in order to generate a commission. This is an unethi

Two-Factor Model
Floor broker of the NYSE, who executes orders for other brokers having more business at that time th

Two-Fund Separation Theorem
Black's zero-beta version of the capital asset pricing model.

Two-Sided Market
The theoretical result that all investors will hold a combination of the risk-free asset and the mar

Two-State Option Pricing Model
A market in which both bid and asked prices, good for the standard unit of trading, are quoted. When

Two-Tier Bid
A pricing equation allowing an underlying asset to assume only two possible (discrete) values in the

Two-Tier Tax System
Takeover bid in which the acquirer offers to pay more for the shares needed to gain control than for

Type
Taxation system that results in taxing the income going to shareholders twice.

Typical Collection Pattern
The classification of an option contract as either a put or a call.

Typical Payment Pattern
A method used to calculate accounts receivable. This allows you to break down receivables into categ

Ultra Vires Activities
U.S. government debt with a maturity of one to 10 years.

Ultra-Short-Term Bond Fund
Applies to derivative products. Firm proprietary software that stores, and sends baskets of stock th

Ultradot
Corporate actions and operations that are not sanctioned by corporate charter, sometimes leading to

Umbrella Personal Liability Policy
A mutual fund that invests in bonds with very short maturity periods, usually one year or less.

Unamortized Bond Discount
A liability insurance policy that provides protection against damages not covered by standard liabil

Unamortized Premiums On Investments
Par value of a bond less the proceeds received from the sale of the bond, less whatever portion has

Unbiased Predictor
The unexpensed portion of the difference between the price paid for a security and its par value.

Unbundling
A theory that spot prices at some future date will be equal to today's forward rates.

Uncollected Funds
Separation of a multinational firm's transfers of funds into discrete flows for specific purposes. S

Uncollectible Account
The amount of bank deposits in the form of checks that have not yet been paid by the banks on which

Uncovered Call
An account which cannot be collected by a company because the customer is not able to pay or is unwi

Uncovered Put
A short call option position in which the writer does not own shares of underlying stock represented

Under The Belt
A short put option position in which the writer does not have a corresponding short stock position o

Underbanked
Long position in a stock.

Underbooked
When an originating investment banker cannot find enough firms to underwrite a new issue.

Undercapitalized
Describes limited interest by prospective buyers in a new issue of a security during the preoffering

Underfunded Pension Plan
A business has insufficient capital to carry out its normal functions.

Underinvestment Problem
A pension plan that has a negative surplus (i.e., liabilities exceed assets).

Underlying
The mirror image of the asset substitution problem, in that stockholders refuse to invest in low-ris

Underlying Asset
What supports the security or instrument that parties agree to exchange in a derivative contract.

Underlying Debt
The security or property or loan agreement that an option gives the option holder the right to buy o

Underlying Futures Contract
Municipal bonds issued by government entities but under the control of larger government entities an

Underlying Security
A futures contract that supports an option on that future, which is executed if the option is exerci

Undermargined Account
For options, the security that is subject to purchase or sold upon exercise of an option contract. F

Underperform
A margin account that no longer meets minimum maintenance requirements, requiring a margin call on t

Underpricing
When a security is expected to, or does, appreciate at a slower rate than the overall market rate of

Undervalued
Issuing securities at less than their market value.

Underwithholding
A stock price perceived to be too low or cheap, as indicated by a particular valuation model. For in

Underwrite
When a taxpayer has withheld too little tax from salary and will therefore owe tax when filing a ret

Underwriter
To guarantee, as to guarantee the issuer of securities a specified price by entering into a purchase

Underwriting
A firm, usually an investment bank, that buys an issue of securities from a company and resells it t

Underwriting Agreement
Acting as the underwriter in the issue of new securities for a firm.

Underwriting Fee
The contract between a corporation issuing new publicly offered securities and the managing underwri

Underwriting Income
The portion of the gross underwriting spread that compensates the securities firms that underwrite a

Underwriting Spread
For an insurance company, the difference between the premiums earned and the costs of settling claim

Underwriting Syndicate
The income that is generated by the underwriting syndicate and the selling group, which is essential

Underwritten Offering
A group of investment banks that work together to sell new security offerings to investors. The unde

Undigested Securities
A purchase and sale.

Undiversifiable Risk
Newly issued securities that are not purchased because of lack of demand during the initial public o

Unearned Income (Revenue)
Related

Unearned Interest
Income received in advance of the time at which it is earned, such as prepaid rent.

Unemployment Rate
Interest that has been received on a loan, but that cannot be treated as a part of earnings yet, bec

Unencumbered
The percentage of the people classified as unemployed as compared to the total labor force.

Unfunded Debt
Property that is not subject to any claims by creditors. For example, securities bought with cash in

Unfunded Pension Plan
Debt maturing within one year (short-term debt). See

Uniform Commercial Code (UCC)
Provides for the employer to pay out amounts to retirees or beneficiaries as and when they are neede

Uniform Gifts To Minors Act (UGMA)
Collection of laws dealing with commercial business.

Uniform Practice Code
Legislation that provides a tax-effective manner of transferring property to minors without the comp

Unilateral Transfers
A law similar to the Uniform Gifts to Minors Act that extends the definition of gifts to include rea

Uninsured Motorist Insurance
Items in the current account of the balance of payments of a country's accounting books that corresp

Unique Risk
Insurance that covers the policyholder and family if they are injured by a hit-and-run or uninsured

Unissued Stock
Also called unsystematic risk or idiosyncratic risk. Specific company risk that can be eliminated th

Unit
Shares authorized in a corporation's charter, but not issued.

Unit Benefit Formula
More than one class of securities traded together (e.g., one common share and three subscription war

Unit Investment Trust
Method used to determine a participant's benefits in a defined benefit plan. Involves multiplying ye

Unit Share Investment Trust (USIT)
Money invested in a portfolio whose composition is fixed for the life of the fund. Shares in a unit

United States Government Securities
A unit investment trust comprising one unit of prime and one unit of score.

Universal Life
Debt issues of the U.S. government, as distinguished from government-sponsored agency issues.

Universe Of Securities
A whole life insurance product whose investment component pays a competitive interest rate rather th

Unleveraged Beta
A group of stocks having a common feature, such as similar outstanding market capitalization or same

Unleveraged Program
The beta of an unleveraged required return (i.e., no debt) on an investment when the investment is f

Unleveraged Required Return
The use of borrowed funds to finance less than 50% of a purchase of assets. In a leveraged program b

Unlimited Liability
The required return on an investment when the investment is financed entirely by equity (i.e., no de

Unlimited Tax Bond
Full liability for the debt and other obligations of a legal entity. The general partners of a partn

Unlisted Security
A municipal bond secured by the pledge to levy taxes until full repayment at an unlimited rate.

Unlisted Trading
A security traded in the over-the-counter market that is not listed on an organized exchange.

Unloading
Trading in unlisted securities that occurs on an organized exchange to accommodate members. This pra

Unmargined Account
Selling securities or commodities whose prices are dropping to minimize loss.

Unmatched Book
A cash account held at a brokerage firm.

Unpaid Dividend
If the average maturity of a bank's liabilities is shorter than that of its assets, it is said to be

Unqualified Opinion
A dividend declared by the directors of a corporation that has not yet been paid.

Unseasoned Issue
An independent auditor's opinion that a company's financial statements comply with accepted accounti

Unsecured Debt
Issue of a security for which there is no existing market. See

Unsterilized Intervention
Debt that does not identify specific assets that the debtholder is entitled to in case of default.

Unsystematic Risk
Foreign exchange market intervention in which the monetary authorities have not insulated their dome

Unwind A Trade
Also called the diversifiable risk or residual risk. The risk that is unique to a company such as a

Up
Reverse a securities transaction through an offsetting transaction in the market.

Up Tick
Market indication; willingness to go both ways (buy or sell) at the mentioned volume and market. Pri

Upgrading
Plus tick.