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Financial Terms | |
British clearers |
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Definition of British clearersBritish clearersThe large clearing banks that dominate deposit taking and short-term lending in the domestic
Related Terms:American Depositary Receipts (ADRs)Certificates issued by a U.S. depositary bank, representing foreign Auction marketsmarkets in which the prevailing price is determined through the free interaction of Automated Clearing House (ACH)A collection of 32 regional electronic interbank networks used to Automated Clearing House (ACH)A banking clearinghouse that processes direct Bear marketAny market in which prices are in a declining trend. bear marketA market in which stock or bond prices are generally Bear MarketA prolonged period of falling stock market prices. ![]() Black marketAn illegal market. Brokered marketA market where an intermediary offers search services to buyers and sellers. Bull marketAny market in which prices are in an upward trend. bull marketA market in which stock or bond prices are generally rising. Bull MarketA prolonged period of rising stock market prices. Bulldog marketThe foreign market in the United Kingdom. Canadian Deposit Insurance CorporationBetter known as CDIC, this is an organization which insures qualifying deposits and GICs at savings institutions, mainly banks and trust companys, which belong to the CDIC for amounts up to $60,000 and for terms of up to five years. Many types of deposits are not insured, such as mortgage-backed deposits, annuities of duration of more than five years, and mutual funds. Capital marketThe market for trading long-term debt instruments (those that mature in more than one year). Capital marketThe market in which investors buy and sell shares of companies, normally associated with a Stock Exchange. ![]() Capital MarketA market that specializes in trading long-term, relatively high risk Capital MarketThe market in which savings are made available to those needing funds to undertake investment projects. A financial market in which longer-term (maturity greater than one year) bonds and stocks are traded. Capital market efficiencyReflects the relative amount of wealth wasted in making transactions. An efficient Capital market imperfections viewThe view that issuing debt is generally valuable but that the firm's Capital market line (CML)The line defined by every combination of the risk-free asset and the market portfolio. capital marketsmarkets for long-term financing. Cash marketsAlso called spot markets, these are markets that involve the immediate delivery of a security Certificate of deposit (CD)Also called a time deposit, this is a certificate issued by a bank or thrift that Certificate of Deposit (CD)A bank deposit that cannot be withdrawn for a specified period of time. See also term deposit. Clearing House Automated Payments System (CHAPS)A computerized clearing system for sterling funds Clearing house / ClearinghouseAn adjunct to a futures exchange through which transactions executed its floor are settled by a ![]() Clearing House Interbank Payments System (CHIPS)An international wire transfer system for high-value Clearing memberA member firm of a clearing house. Each clearing member must also be a member of the Coefficient of determinationA measure of the goodness of fit of the relationship between the dependent and coefficient of determinationa measure of dispersion that Common marketAn agreement between two or more countries that permits the free movement of capital Common stock marketThe market for trading equities, not including preferred stock. Complete capital marketA market in which there is a distinct marketable security for each and every Completion undertakingAn undertaking either (1) to complete a project such that it meets certain specified Consortium banksA merchant banking subsidiary set up by several banks that may or may not be of the Corner A MarketTo purchase enough of the available supply of a commodity or stock in order to Credit TermsConditions under which credit is extended by a lender to a borrower. Dealer marketA market where traders specializing in particular commodities buy and sell assets for their Debt marketThe market for trading debt instruments. Demand DepositA bank deposit that can be withdrawn on demand, such as a deposit in a checking account. Demand depositsChecking accounts that pay no interest and can be withdrawn upon demand. Deposit CreationThe process whereby the banking system transforms a dollar of reserves into several dollars of money supply. Deposit SwitchingCentral bank switching of government deposits between the central bank and commercial banks. Depository transfer check (DTC)Check made out directly by a local bank to a particular firm or person. Depository Trust Company (DTC)DTC is a user-owned securities depository which accepts deposits of Derivative marketsmarkets for derivative instruments. Deterministic modelsLiability-matching models that assume that the liability payments and the asset cash Direct DepositThe direct transfer of payroll funds from the company bank account direct depositA system where funds are electronically credited to your account by a financial institution or a payroll service. For example, you can arrange with your employer to have your pay cheques automatically deposited into your no fee bank account. Direct search marketBuyers and sellers seek each other directly and transact directly. DisintermediationWithdrawal of funds from a financial institution in order to invest them directly. DLOM (discount for lack of marketability)an amount or percentage deducted from an equity interest to reflect lack of marketability. Domestic International Sales Corporation (DISC)A U.S. corporation that receives a tax incentive for Domestic marketPart of a nation's internal market representing the mechanisms for issuing and trading Efficient capital marketA market in which new information is very quickly reflected accurately in share efficient capital marketsFinancial markets in which security prices rapidly reflect all relevant information about asset values. Efficient Market HypothesisIn general the hypothesis states that all relevant information is fully and Efficient Markets HypothesisThe hypothesis that securities are typically in equilibrium--that they are fairly priced in the sense that the price reflects all publicly available information on the security. Either-way marketIn the interbank Eurodollar deposit market, an either-way market is one in which the bid Electronic depository transfersThe transfer of funds between bank accounts through the Automated Emerging marketsThe financial markets of developing economies. Equilibrium market price of riskThe slope of the capital market line (CML). Since the CML represents the Equity marketRelated:Stock market Euro-medium term note (Euro-MTN)A non-underwritten Euronote issued directly to the market. Euro- Eurocurrency depositA short-term fixed rate time deposit denominated in a currency other than the local Eurocurrency marketThe money market for borrowing and lending currencies that are held in the form of Excess return on the market portfolioThe difference between the return on the market portfolio and the External marketAlso referred to as the international market, the offshore market, or, more popularly, the Fair market priceAmount at which an asset would change hands between two parties, both having Fair market valueThe price that an asset or service will fetch on the open market. Fair Market ValueThe highest price available, expressed in terms of cash, in an open and unrestricted market between informed, prudent parties acting at arm's length and under no compulsion to transact. Farm Improvement and Marketing Cooperatives Loans ActSee here Federal Deposit Insurance Corporation (FDIC)A federal institution that insures bank deposits. Federal funds marketThe market where banks can borrow or lend reserves, allowing banks temporarily Federal Home Loan BanksThe institutions that regulate and lend to savings and loan associations. The Federal Open Market Committee (FOMC)Fed committee that makes decisions about open-market operations. Federal Reserve BanksThe twelve district banks in the Federal Reserve System. Financial intermediariesInstitutions that provide the market function of matching borrowers and lenders or financial intermediaryFirm that raises money from many small investors and provides financing to businesses or other Financial IntermediaryAny institution, such as a bank, that takes deposits from savers and loans them to borrowers. Financial IntermediationThe process whereby financial intermediaries channel funds from lender/savers to borrower/spenders. Financial marketAn organized institutional structure or mechanism for creating and exchanging financial assets. financial marketsmarkets in which financial assets are traded. Fixed-income marketThe market for trading bonds and preferred stock. Flexible TermOptional periods of time which the conditions of a contract will be carried out. Foreign banking marketThat portion of domestic bank loans supplied to foreigners for use abroad. Foreign bond marketThat portion of the domestic bond market that represents issues floated by foreign Foreign equity marketThat portion of the domestic equity market that represents issues floated by foreign companies. Foreign Exchange MarketA worldwide market in which one country's currency is bought or sold in exchange for another country's currency. Foreign marketPart of a nation's internal market, representing the mechanisms for issuing and trading Foreign market betaA measure of foreign market risk that is derived from the capital asset pricing model. Forward Exchange MarketA market in which foreign exchange can be bought or sold for delivery (and payment) at some specified future date but at a price agreed upon now. Forward marketA market in which participants agree to trade some commodity, security, or foreign Fourth marketDirect trading in exchange-listed securities between investors without the use of a broker. Futures marketA market in which contracts for future delivery of a commodity or a security are bought or sold. Gray marketPurchases and sales of eurobonds that occur before the issue price is finally set. Gross Domestic ProductTotal output of final goods and services produced within a country during a year. Gross domestic product (GDP)The market value of goods and services produced over time including the Index and Option Market (IOM)A division of the CME established in 1982 for trading stock index Related to : financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit. |