- Industry: Financial services
- Number of terms: 73910
- Number of blossaries: 1
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Used for listed equity securities. (1) Term used in a securities transaction involving three brokers, as follows: Broker A, a floor broker, executes a buy order for broker B (a member firm broker who has too much business at the time to execute the order). The broker with whom broker A completes the transaction (the sell-side broker) is broker C. Broker A "gives up" the name of broker B, so that the record shows a transaction between broker B and broker C even though the trade is actually executed between broker A and broker C; (2) distribution of commissions to brokerage houses not participating in a trade. This is a grey area of the law governing reimbursement of a broker for services (e.g., research). See: Directed brokerage.
Industry:Financial services
A convertible security whose optioned common stock is trading in a middle range, causing the convertible security to trade with the characteristics of both a fixed income security and a common stock instrument.
Industry:Financial services
Hong Kong Interbank Offer Rate, the annualised offer rate banks pay to attain Hong Kong three-month deposits in denominated dollars.
Industry:Financial services
An alternative to a bond trust deed. Unlike the trustee, the fiscal agent acts as a representative of the borrower.
Industry:Financial services
A popular stock characterised by high earnings growth rate and a price that rise is faster than the market average in a bull market.
Industry:Financial services
A sales charge that is not explicitly disclosed or is buried in the fine print of a mutual fund prospectus or life insurance policy and therefore is not immediately apparent.
Industry:Financial services
Services performed by the Federal Reserve Banks for the U.S. government. These include maintaining deposit accounts for the Treasury Department, paying U.S. government cheques drawn on the Treasury, and issuing and redeeming savings bonds and other government securities.
Industry:Financial services
Used by real estate and other investment trusts to define the cash flow from trust operations; earnings with depreciation and amortisation added back. A similar term increasingly used is funds available for distribution (FAD), which is FFO less capital investments in trust property and the amortisation of mortgages.
Industry:Financial services
A receipt denoting ownership of foreign-based corporation stock shares which are traded in numerous capital markets around the world.
Industry:Financial services
