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Definition of Quotation
The bid and offered prices a dealer is willing to buy or sell at.
National Association of Securities Dealers Automatic quotation System. An electronic quotation
The automatic quotation system of the National Association of Securities Dealers, providing brokers and dealers with price quotations for over-the-counter stocks.
The actual foreign exchange quotation in contrast to the real exchange rate that has
Price quotations on futures for a period in which no actual trading took place.
A debt or equity security for which there is no posted price or bidand-
Schedule of depreciation rates allowed for tax purposes.
A set of accounts that summarize the transactions of a business that have been recorded on source documents.
The ratio of net credit sales to average accounts receivable, a measure of how
A ratio computed by dividing annual
A merger or consolidation in which an acquirer purchases the acquiree's stock.
a valuation method that uses actual direct
Publicly traded issues that may be collateralized by mortgages and MBSs.
The second-largest stock exchange in the United States. It trades
the amount of overhead that has been assigned to Work in Process Inventory as a result of productive activity; credits for this amount are to an overhead account
The price at which a willing buyer and a willing unrelated seller would freely agree to
A dealer's price to sell a security; also called the offer price.
Bond or note secured by assets of company.
Extent to which a company's net assets cover a particular debt obligation, class of preferred stock, or equity position.
A bond indenture restriction that permits additional borrowing on if the ratio of assets to
The ratio of net sales to total assets.
a ratio measuring asset productivity and showing the number of sales dollars generated by each dollar of assets
asset turnover ratio
A broad-gauge ratio computed by dividing annual
markets in which the prevailing price is determined through the free interaction of
Auction rate preferred stock (ARPS)
Floating rate preferred stock, the dividend on which is adjusted every
Automated storage/retrieval system
A racking system using automated systems
Automatic Benefits Payment
automatic payment of moneys derived from a benefit.
Any feature built into the economy that automatically cushions fluctuations.
The restricting of liability holders from collection efforts of collateral seizure, which is
Automatic Waiver of Premium
A benefit that automatically forfeits premium payments.
Bank for International Settlements (BIS)
An interNational bank headquartered in Basel, Switzerland, which
Money owed to the bank in a cheque account where payments exceed receipts.
Gives the lessee the option to purchase the asset at a price below fair market
price expressed in terms of yield to maturity or annual rate of return.
Any market in which prices are in a declining trend.
A market in which stock or bond prices are generally
A prolonged period of falling stock market prices.
Also called on-the-run or current coupon issues or bellwether issues. In the secondary
Beta equation (Stocks)
The beta of a stock is determined as follows:
spread The difference between the bid and asked prices.
This is the quoted bid, or the highest price an investor is willing to pay to buy a security. Practically
A firm or person that wants to buy a firm or security.
An illegal market.
The Treasury and federal agencies are moving to a book-entry system in which Securities are not represented by engraved pieces of paper but are maintained in computerized records at the
BOOK VALUE OF COMMON STOCK
The theoretical amount per share that each stockholder would receive if a company’s assets were sold on the balance sheet’s date. Book value equals:
A market where an intermediary offers search services to buyers and sellers.
Builder buydown loan
A mortgage loan on newly developed property that the builder subsidizes during the
Any market in which prices are in an upward trend.
A market in which stock or bond prices are generally rising.
A prolonged period of rising stock market prices.
The foreign market in the United Kingdom.
business intelligence (BI) system
a formal process for gathering and analyzing information and producing intelligence to meet decision making needs; requires information About
To purchase an asset; taking a long position.
A passive investment strategy with no active buying and selling of stocks from the
Another term for a repo.
To cover, offset or close out a short position. Related: evening up, liquidation.
Buy limit order
A conditional trading order that indicates a security may be purchased only at the designated
Buy on close
To buy at the end of the trading session at a price within the closing range.
Buy on margin
A transaction in which an investor borrows to buy additional shares, using the shares
Buy on opening
To buy at the beginning of a trading session at a price within the opening range.
This is an agreement entered into by the owners of a business to define the conditions under which the interests of each shareholder will be bought and sold. The agreement sets the value of each shareholders interest and stipulates what happens when one of the owners wishes to dispose of his/her interest during his/her lifetime as well as disposal of interest upon death or disability. Life insurance, critical illness coverage and disability insurance are major considerations to help fund this type of agreement.
A financial analyst employed by a non-brokerage firm, typically one of the larger money
Mortgages in which monthly payments consist of principal and interest, with portions of these
Buying the index
Purchasing the stocks in the S&P 500 in the same proportion as the index to achieve the
Purchase of a controlling interest (or percent of shares) of a company's stock. A leveraged buy-out is
The price, specified at issuance, at which the issuer of a bond may retire part of the bond at a
The price for which a bond can be repaid before maturity under a call provision.
Canadian Life and Health Insurance Association (CLHIA)
An Association of most of the life and health insurance companies in Canada that conducts research and compiles information About the life and health insurance industry in Canada.
The market for trading long-term debt instruments (those that mature in more than one year).
The market in which investors buy and sell shares of companies, normally associated with a stock Exchange.
A market that specializes in trading long-term, relatively high risk
The 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 efficiency
Reflects the relative amount of wealth wasted in making transactions. An efficient
Capital market imperfections view
The 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.
markets for long-term financing.
Refers to recouping, or regaining, invested capital over
Ownership shares issued by a business corporation. A business
The total amount of plant, equipment, and other physical capital.
Cash flow coverage ratio
The number of times that financial obligations (for interest, principal payments,
Cash flow per common share
Cash flow from operations minus preferred stock dividends, divided by the
Also called spot markets, these are markets that involve the immediate delivery of a security
The number of cash cycles completed in one year.
a system using transfer prices; see transfer
Bond price excluding accrued interest.
Clearing House Automated Payments System (CHAPS)
A computerized clearing system for sterling funds
Clearing House Interbank Payments System (CHIPS)
An interNational wire transfer system for high-value
The representing of accounting information over multiple years as percentages
common body of knowledge (CBK)
the minimum set of knowledge needed by a person to function effectively in a particular field
An agreement between two or more countries that permits the free movement of capital
Are equity instruments that take no security against assets, have no fixed terms of repayment and pay no fixed dividends.
common-size balance sheet
Balance sheet that presents items as a percentage of total assets.
common-size income statement
Income statement that presents items as a percentage of revenues.
These are Securities that represent equity ownership in a company. common shares let an
Shares of ownership sold to the public.
A financial security that represents an ownership claim on the
Ownership shares in a publicly held corporation.
That part of the capital stock of a corporation that carries voting rights and represents
Common stock equivalent
A convertible security that is traded like an equity issue because the optioned
Common stock market
The market for trading equities, not including preferred stock.
Common stock/other equity
Value of outstanding common shares at par, plus accumulated retained
Common stock ratios
Ratios that are designed to measure the relative claims of stockholders to earnings
A Securities offering process in which Securities firms submit competing bids to the
Complete capital market
A market in which there is a distinct marketable security for each and every
One of two parties to a conditional sale agreement, the other being the conditional seller.
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