|Cheapest to deliver issue|
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Definition of Cheapest to deliver issue
Cheapest to deliver issue
The acceptable Treasury security with the highest implied repo rate; the rate that a
Implied repo rate
The rate that a seller of a futures contract can earn by buying an issue and then delivering
Also called the swap option, the seller's choice of deliverables in Treasury Bond and Treasury
Also called on-the-run or current coupon issues or bellwether issues. In the secondary
The provision of some futures contracts that requires not delivery of underlying assets but
In Treasury securities, the most recently auctioned issue. Trading is more active in current
Related: Benchmark issues
The asset in a forward contract that will be delivered in the future at an agree-upon price.
The tender and receipt of an actual commodity or financial instrument in settlement of a futures contract.
The written notice given by the seller of his intention to make delivery against an open, short
The options available to the seller of an interest rate futures contract, including the quality
Those points designated by futures exchanges at which the financial instrument or
The price fixed by the Clearing house at which deliveries on futures are in invoiced; also the
Delivery versus payment
A transaction in which the buyer's payment for securities is due at the time of
Eurobonds that pay coupon interest in one currency but pay the principal in a different
Securities sold in the Euromarket. That is, securities initially sold to investors
A transaction in which the settlement will occur on a specified date in the future at a price
A delivery in which everything - endorsement, any necessary attached legal papers, etc. - is in
Good delivery and settlement procedures
Refers to PSA Uniform Practices such as cutoff times on delivery
A particular financial asset.
Issued share capital
Total amount of shares that are in issue. Related: outstanding shares.
An entity that issues a financial asset.
Refers to the seller's actually turning over to the buyer the asset agreed upon in a forward contract.
Under the GNMA-II program, pools formed through the aggregation of individual
The market in which a new issue of securities is first sold to investors.
Option not to deliver
In the mortgage pipeline, an additional hedge placed in tandem with the forward or
Original issue discount debt (OID debt)
Debt that is initially offered at a price below par.
Overnight delivery risk
A risk brought about because differences in time zones between settlement centers
Investors are not able to buy all of the shares or bonds they want, so underwriters must
Presold issue An issue
that is sold out before the coupon announcement.
Reopen an issue
The Treasury, when it wants to sell additional securities, will occasionally sell more of an
issue of a security for which there is an existing market. Related: Unseasoned issue.
Seasoned new issue
A new issue of stock after the company's securities have previously been issued. A
1) Procedure for selling blocks of seasoned issues of stocks.
Small issues exemption
Securities issues that involve less than $1.5 million are not required to file a
Specific issues market
The market in which dealers reverse in securities they wish to short.
Refers to the buyer's actually assuming possession from the seller of the asset agreed upon
issue of a security for which there is no existing market. See: seasoned issue.
A security issue that has no unusual features.
The number of shares that the company has sold to the public.
The date a security is first offered for sale. That date usually
Stock that has been authorized for use, but which has not yet been
Shares that have been issued by the company.
issue of securities offered only to current stockholders.
Emerging Issues Task Force (EITF)
A special committee of the Financial Accounting Standards Board established to reach consensus of how to account for new and unusual financial transactions that have the potential for creating differing financial reporting practices.
Emerging Issues Task Force (EITF)
A separate committee within the Financial Accounting Standards Board composed of 13 members representing CPA firms and preparers of financial statements
A company’s stated goal for how soon a customer order will be
A transaction used to record the reduction in inventory from a location,
A delivery of stock to a location in or near the shop floor
The practice of ordering large quantities on a single purchase order,
When an item is approved and released for sale, or when a policy or sales contract is accepted.
Age of an insured as at the policy issue date, using "age nearest" next birthday formula.
Date on which a policy is approved.
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