altcoin

Sure, like all the other altcoins, Dogecoin offers some variability, like a theoretical max of 100 billion versus 21 million, and a different proof-of-work algorithm, but we’re reaching Furby levels of ridiculousness here.

2013, sdjf, “Dogecoin ~ internet meme dog coin.”, in uk.politics.misc (Usenet):

Altcoins use either Scrypt or SHA256 encryption algorithm, because the 'project forks' are from either Litecoin or Bitcoin. […] A few crypto economists believed that Altcoins is contributed ^([sic]) to a diverse crypto commodities marketplace, which is good.

2013, John Davidson, The Digital Coin Revolution - Crypto Currency - How to Make Money Online, JD-Biz Corp Publishing, →ISBN:

Indeed, after a week of existence, Dogecoin is already the 24th most valuable altcoin, with a total market value of $1,621,559 based on the exchange CoinedUp, though it might be worth even more elsewhere.

2013, John Stevenson, Dogecoin - Bitcoin's poor cousin?, page 18:

MASTERCOIN […] An altcoin invented by J. R. Willett. According to the Website, “The Master Protocol facilitates the creation and trading of smart properties and user currencies as well as other types of smart contracts. […]”

2014, Deborah Gonzalez, Managing Online Risk: Apps, Mobile, and Social Media Security, Butterworth-Heinemann, →ISBN, page 199:

Most altcoins follow the bitcoin model of having a finite ultimate supply of coins.

2014 June 13, Black Market Cryptocurrencies, page 47:

(cryptocurrencies) A cryptocurrency other than bitcoin.


privileged debt

en-noun

privileged debt (plural privileged debts)

(law, finance) A debt to which a preference in payment is given out of the estate of a deceased or insolvent person.


suspense account

suspense account (plural suspense accounts)

(accounting) An account in which receipts or disbursements are temporarily entered until their proper position in the books is determined.


bagholder

Blend of bag + shareholder, referring to the phrase "leave someone holding the bag".

(US, finance, slang) An investor left holding on to worthless financial assets (esp. worthless stock shares).


throwout

throwout (countable and uncountable, plural throwouts)

From throw out, in the sense of having been thrown out of society.

Alternatively, the throwout rule, adopted by only a few states, eliminates or “throws out” sales from the denominator of the apportionment factor when sales are not taxable in the destination state.

2005, LeAnn Luna, “Throwback rules, multistate corporations”, in Joseph J. Cordes, Robert D. Ebel, Jane G. Gravelle, editors, The Encyclopedia of Taxation & Tax Policy (Second Edition), The Urban Institute Press, →ISBN, →LCCN, page 436:

The effect of the throwback rule is to distribute income according to sales in the origin state. The effect of the throwout rule is to distribute income according to the taxpayer’s overall activities as measured by the other apportionment factors.

2006, Joann Martens-Weiner, chapter 4, in Company Tax Reform in the European Union: Guidance from the United States and Canada on Implementing Formulary Apportionment in the EU, Springer Science+Business Media, Inc., →ISBN, →LCCN, page 53:

The throwout rule would have the effect of attributing the receipts concerned to the Member States in proportion to the other sales, which is not supported by the logic of the sales factor as those other Member States have not contributed to the profits associated with those gross receipts.

2009, Stefan Mayer, chapter 4, in Formulary Apportionment for the Internal Market (Doctoral Series; 17), IBFD, →ISBN, →ISSN, page 220:

(US, accounting) A practice to avoid untaxed nowhere income by instead assuming the untaxed transaction is taxed in the originating state in a notional proportion to other taxable transactions.


phantom withdrawal

phantom withdrawal (plural phantom withdrawals)

automatic teller machine
automatic teller machine

(banking, money, finance) A cash withdrawal from an automatic teller machine where neither the customer nor the bank admits liability.


make whole

en-verb

make whole (third-person singular simple present makes whole, present participle making whole, simple past and past participle made whole)

makes whole (present singular third-person)
making whole (participle present)
made whole (participle past)
made whole (past)

Perelman receives a government subsidy called "yield maintenance"—totaling about $406 million to date—to make him whole for carrying money-losing assets in the thrift.

1991 February 10, Larry Light et al., “Were These Deals Too Sweet To Last?”, in BusinessWeek, retrieved 2014-01-28:

The only investor to be made whole, the lawsuit says, was First American Bank of New York, whose $5.5 million loan to the resort was repaid.

1994 September 25, Jan Hoffman, Matthew Purdy, “Harriman Suit: Misconduct, Or Just Bad Luck Investing?”, in New York Times, retrieved 2014-01-28:

Companies “are increasingly covering more complicated forms of compensation that executives forfeited from prior jobs,” says Hodgson. For instance, Home Depot promised Robert Nardelli half his salary and bonus, subject to certain undisclosed offsets, to make him whole for retirement benefits he earned at GE.

2007 June 15, Elizabeth MacDonald, “Gilded Greetings”, in forbes.com, retrieved 2014-01-28:

Alameda’s own crypto assets had plunged in value during the market downturn, meaning the firm had little way to make its lenders whole.

2023 October 11, David Yaffe-Bellany, Matthew Goldstein, J. Edward Moreno, “Caroline Ellison Says She and Sam Bankman-Fried Lied for Years”, in The New York Times, →ISSN:

(transitive, finance, law) To provide (someone), especially under the terms of a legal judgment or an agreement, with financial compensation for lost money or other lost assets.

compensate

provide (someone) with compensation for a financial loss


capital structure

en-noun

capital structure (plural capital structures)

(finance) The way that a corporation finances its assets through some combination of equity, debt, and hybrid securities.


anaconda mortgage

anaconda mortgage (plural anaconda mortgages)

An allusion to being trapped in crushing coils of a large constrictor snake, such as anaconda, suggesting the crushing burden of such debt.

[I]t was not given to the prophet Isaiah even, to look down the vista of time for 2,500 years and read the Statutes of Arkansas. Under them every man who executes an anaconda mortgage is considered to plant and eat not; for them the heavens might as well be brass and the earth iron.

1889, W. Scott Morgan, History of the Wheel and Alliance and the Impending Revolution, page 59:

Furthermore, the merchants soon discovered the Anaconda mortgage, which forced the owner to back up his crop lien with everything he owned — land, money, and personal property.

1988, Michael Schwartz, Radical Protest and Social Structure: The Southern Farmers' Alliance and Cotton Tenancy, 1880-1890, →ISBN, page 59:

In 1883 Alabama established the "Anaconda" mortgage, which "gave the landlord the right to take not only his tenant's crop . . . but also his furniture, household goods, and personal effects," again with primacy over merchant claims.

1997, Edward Countryman, Americans: A Collision of Histories, →ISBN, page 226:

(chiefly southern US, idiomatic, dated, law, finance) A loan arrangement in which all of the money borrowed from a lender, for whatever purpose, is secured by one's home, land, and other property.


overbullish

en-adj

overbullish (comparative more overbullish, superlative most overbullish)

more overbullish (comparative)
most overbullish (superlative)


moon rocket

(finance) A company whose stock price rises dramatically following an initial public offering


Euribor

Euro Interbank Offered Rate
w:Euro Interbank Offered Rate

(finance) Abbreviation of Euro Interbank Offered Rate.


carry forward

en-verb

carry forward (third-person singular simple present carries forward, present participle carrying forward, simple past and past participle carried forward)

carries forward (present singular third-person)
carrying forward (participle present)
carried forward (participle past)
carried forward (past)

(idiomatic, accounting, of a balance) To transfer to a new page, column, ledger, or similar entity.

(idiomatic, accounting, of an operating loss or other legal credit) To apply to the taxable income of following years, thereby easing the overall tax burden; carry over.


dogecoin

en-noun

dogecoin (countable and uncountable, plural dogecoins)

/ˈdəʊd͡ʒkɔɪn/

The success of ransomware could be attributed to wide adoption of digital currencies or crypto currencies, such as bitcoin, litecoin ukash, dogecoin, ripple and monero, among others.

2017 August 19, Roderick Abad, “Slow Internet speed helping PHL fend off cyber felons”, in Business Mirror:

The net worth of Markus and Palmer is unknown due to their tendency to stay off social media and online platforms. However, dogecoin was estimated to be worth almost $17billion as of April 14, 2021.

2021 April 16, Jacob Bentley-York, “Who are Dogecoin founders Billy Markus and Jackson Palmer?”, in The US Sun, retrieved 2021-04-28:

(uncountable, cryptocurrencies) A cryptocurrency featuring the Shiba Inu from the "doge" meme as its logo.


tick and tie

en-verb

tick and tie (third-person singular simple present ticks and ties, present participle ticking and tying, simple past and past participle ticked and tied)

ticks and ties (present singular third-person)
ticking and tying (participle present)
ticked and tied (participle past)
ticked and tied (past)

The leveling diagram can be used as a tick and tie list for the year 2000 team to ensure that no system or piece of hardware that should be fixed is overlooked.

1997, James Edward Keogh, Solving the Year 2000 Problem, page 131:

Rather than diving into the filing cabinets to tick and tie the paper trail, today's external audits start with a proper understanding of the business and the competitive environment in which a company operates.

2003, Mary Pat McCarthy, Tim Flynn, Risk From the CEO and Board Perspective, page 22:

Auditors do not necessarily tick and tie every single position held in a fund.

2012, Jason A. Scharfman, Private Equity Operational Due Diligence, page 239:

(accounting) To make sure that every item in a ledger or in an inventory is accounted for and properly connected to other items to which it relates.


mainchain

One user start^([sic]) to withdraw assets from sidechain to mainchain by sending transaction.

2020, Sheng Wen, Albert Zomaya, Laurence T. Yang, Algorithms and Architectures for Parallel Processing, Springer Nature, →ISBN, page 557:

(cryptocurrencies) A blockchain with one or more sidechains attached to it.


locatio et conductio

Borrowed from Latin locātiō et conductiō.

(law, finance) A contract of hire. A bailment: goods delivered or property or land made available to the bailee in exchange for money or reward paid to the bailor. May be one of three main types: locatio rei, 'the hire of a thing'; locatio operarum, 'a worker for a wage'; locatio operis faciendi, a contract for 'services providing a result'


sinking fund

(finance) A fund established by an economic entity by setting aside revenue over a period of time to fund a future capital expense or repay a long-term debt.


bullet loan

(finance) A loan where the payment of the entire principal of the loan is due at the end of the loan term.


hammer price

(finance) The amount for which the shares of a trader who has defaulted are sold.


bottom fishing

So should you put a few bucks into commodities while they're dirt cheap? . . . Because of their low correlations with stocks and bonds, you may want to consider bottom-fishing in futures now, either to speculate on an upswing or insulate the rest of your portfolio against any downturns.

1998 June 7, Amy Dunkin, “Commodities Are Cheap. Time To Leap?”, in Businessweek, retrieved 2014-05-26:

Bottom fishing for bargains in the stocks of distressed companies is a surprisingly popular sport.

2003 July 6, Sharon Epperson, “Beware the Bargains”, in Time, retrieved 2014-05-26:

“Bottom fishing during and after financial crises is nothing new,” says Jerry Haar, a professor at the business school of Florida International University.

2011 September 15, Roben Farzad, “Angola and Brazil Are Buying Portuguese Companies”, in Businessweek, retrieved 2014-05-26:

But the activity was concentrated to a few days with active traders swooping in when the stock hit its 52-week low, leading to speculation the investors were largely bottom fishing.

2013 December 3, Samantha Sharf, “JC Penney Sales Swell In November, But Holiday Profits Will Be Stiffer Test”, in Forbes, retrieved 2014-05-26:

(idiomatic, business, finance) Buying, or seeking opportunities to buy, investment securities or other valuable properties at a time when markets are depressed and prices are low.


fancy stock

(finance, dated) A stock that offers great opportunity for stock gambling, since it has no intrinsic value, and the fluctuations in its price are artificial.


program trading

But the controversy over program trading, the sophisticated investment strategy responsible for the upheavals that have sometimes marked “witching” Fridays, is far from over.

1986 September 21, James Sterngold, “Wall Street rethinks its latest trading fad”, in New York Times, retrieved 2014-05-31:

When program trading came into vogue in the mid-1980s, it was at the forefront of Wall Street's computer revolution—and its practitioners included the Street's largest and most luminous brokerages.

1992 May 17, “Program Traders: They're Back, Without The Bad Vibes”, in Businessweek, retrieved 2014-05-31:

A more bewildering development is the array of complex, computer-assisted trading techniques that, in taking the stock exchanges by storm, have become a major cause of the market's extraordinary peaks and valleys. The most controversial is known as program trading, in which computers, for example, launch massive buy and sell orders.

2001 June 24, George Russell, “Manic Market”, in Time, retrieved 2014-05-31:

I’ll say it again: program trading, now known as “high-frequency” trading, serves no purpose but to line the pockets of the program-trading firms at the expense of the millions of other investors participating in the market.

2010 May 8, Sy Harding, “Program Trading Needs To Be Banned”, in Forbes, retrieved 2014-05-31:

(business, finance, computing) High-volume and high-speed buying and selling of investment securities, such as stocks and bonds, which is initiated and executed by brokerage firms' computer programs that continually monitor market conditions.


Sallie Mae

(US, finance, informal) SLM Corporation: a publicly traded corporation dealing with student loans.


overallotment

en-noun

overallotment (countable and uncountable, plural overallotments)


greenshoe

From green + shoe, after the Green Shoe Manufacturing Company.

(finance) An option that allows underwriters to short-sell shares in a registered securities offering at the offering price.


daily average revenue trades

daily average revenue trades pl (plural only)

(finance) A metric used by brokers to represent the number of trades the broker can expect to make revenue from in a day


FFO

(accounting) Initialism of funds from operations.


stock account

(business, finance, accounting) An account on a merchant's ledger, one side of which shows the original capital, or stock, and the additions thereto by accumulation or contribution, the other side showing the amounts withdrawn.


cash poor

en-adj

cash poor (comparative more cash poor, superlative most cash poor)

more cash poor (comparative)
most cash poor (superlative)

Marc Spector: It turns out that I am what you call "cash poor" (Marc Spector: Moon Knight #1, June 1, 1989.)

(business, finance) Possessing considerable economic assets, but unable to quickly or easily liquidate them for monetary transactions.


accepting house

en-noun

accepting house (plural accepting houses)

(finance) An institution specialising in the acceptance and guarantee of bills of exchange, thereby facilitating the lending of money.


RBC

Coordinate term: RBS

Royal Bank of Canada
w:Royal Bank of Canada

(Canada, finance) Initialism of Royal Bank of Canada.


fair value

fair value (countable and uncountable, plural fair values)

Coordinate term: historical cost

(accounting, economics) A rational, unbiased estimate of the potential market price of goods, services, or assets, taking into account both objective factors (such as production and distributions costs) and subjective factors (such as risks and supply vs. demand).


cost of money

cost of money (usually uncountable, plural costs of money)

The government has also deregulated interest rates, letting the market decide the cost of money.

1993 November 21, “Seoul Surging”, in Business Week, retrieved 2014-08-25:

Stocks and bonds have often moved in tandem recently because low interest rates make shares more appealing and cut the cost of money to companies.

1994 January 4, “Dow Ekes Out a Slight Rise as Most Stocks Slip”, in New York Times, retrieved 2014-08-25:

During the span of time that oil and other natural resources costs have more than doubled, the cost of money, or interest rates, has gone from 1% to 5%.

2006 June 27, Richard Lehmann, “Get Ready For Stagflation”, in Forbes, retrieved 2014-08-25:

Central banks change the cost of money—the interest rate—in order to clear labour markets.

2012 June 26, R. A., “The twilight of the central banker”, in Economist, retrieved 2014-08-25:

(business, finance) The interest rate paid for borrowed funds or the interest itself.


fixed cost

Coordinate term: variable cost

Rent is a fixed cost.

Our fixed costs are too high.

"Railways have to bear the very high fixed costs associated with the provision and maintenance of a specialised route system for their own exclusive use. [...]"

1962 December, “Dr. Beeching previews the plan for British Railways”, in Modern Railways, page 376:

(accounting, chiefly in the plural) A cost of business which does not vary with output or sales; an overhead.


minibudget

Unions have reacted with fury to the prospect of the government scrapping a cap on bankers’ bonuses, as ministers geared up for a return to near-normal politics next week, topped by an emergency mini-budget on Friday.

2022 September 15, Peter Walker, Matthew Weaver, Aubrey Allegretti, “Kwarteng plan to lift cap on bankers’ bonuses infuriates unions”, in The Guardian:

(chiefly UK, politics, finance) A budget statement proposed by a government between annual budgets, involving special economic measures.


antistuffing

an antistuffing law

(US, finance, law) Preventing stuffing (the tax loophole).


e-gold

From e- + gold, originally the name of an Internet company that operated from 1996 to 2009.

My personal view on e-gold, e-bullion, or whatever you want to call it is simply: Don't.

2009, Sean Brodrick, The Ultimate Suburban Survivalist Guide:

Operated from the United States, the e-gold system allowed anyone anywhere in the world to open accounts […]

2014, Philip Mullan, The Digital Currency Challenge:

The holder or recipient of an e-gold currency could do whatever they want with the currency—it could be traded further […]

2014, Daniel Adeoyé Leslie, Legal Principles for Combatting Cyberlaundering:

(finance) gold traded over the Internet.


one-touch

(finance) Being or relating to a kind of exotic option that pays out if an asset reaches or passes a certain price at any point during the relevant period.


ETC

(finance) Acronym of Exchange-Traded Commodity.


shareworthy

en-adj

shareworthy (comparative more shareworthy, superlative most shareworthy)

more shareworthy (comparative)
most shareworthy (superlative)


eurocurrency

en-noun

eurocurrency (countable and uncountable, plural eurocurrencies)

(finance) Alternative form of Eurocurrency


Eurocurrency

Eurocurrency (countable and uncountable, plural Eurocurrencies)

(finance) Deposits denominated in a currency other than the currency of the depositee.


after-tax

(finance) Remaining after tax has been deducted.


flexdollar

The difference in value between the pre-flexible benefit plan and the core plan was returned to each participating employee as an individually determined flexdollar allowance.

1982, Pension World, volume 18, page 89:

This option allows employees to put flexible credits — the company calls them flexdollars — into the account, to be used for medical expenses not already covered. Flexdollars can be kept in the account from year to year, until needed.

1982 May, Kiplinger's Personal Finance, volume 36, number 5, page 51:

Employees will get profit-sharing amounts in the form of "flexdollars." Those who deposit the flexdollars in the company profit-sharing plan will have the amount matched dollar—for-dollar by the company.

1985, Human Resource Management News, page 202:

(US, finance, usually in the plural) An amount of money, paid by an employer to an employee, that can be spent on any of various benefits.


accountless

en-adj

accountless (comparative more accountless, superlative most accountless)

more accountless (comparative)
most accountless (superlative)

(business, finance, computing) Not possessing an account.


January effect

(finance) A hypothetical seasonal anomaly in the financial market where securities' prices increase in the month of January more than in any other month.


vulture fund

This chapter discusses current official initiatives designed to curb vulture fund litigation and proposes a rethinking of the doctrine of sovereign immunity as a key measure to curb the predatory behaviour of vulture funds.

2018, Ilias Bantekas, Cephas Lumina, Sovereign Debt and Human Rights, Oxford University Press, →ISBN, page 498:

(finance, derogatory) A hedge fund or private equity fund that invests in debt considered to be very weak or in imminent default. Investors profit by buying debt at a discounted price on a secondary market and then suing the debtor for a larger amount than the purchasing price.


payment order

(finance, chiefly banking) An instruction from a sender to a receiving bank, transmitted orally, electronically, or in writing, to pay, or to cause another bank to pay a fixed and determinable amount of money to a beneficiary.

betalingsopdracht

instruction to pay or cause a bank to pay an amount of money


quote stuffing

(finance) A form of market manipulation employed by high-frequency traders that involves quickly entering and withdrawing large orders in an attempt to flood the market and create confusion.


teenie

(finance, informal) A sixteenth of a dollar, a unit in which stocks could formerly be traded.


loserboard

From loser + board, perhaps modelled on leaderboard.

(finance) A tabular display of stocks/shares whose value/price has recently fallen


rumortrage

(finance, colloquial) An increase in trading activity prompted by rumors of a takeover.


unitholding

(finance) Being the owner of a beneficial interest ("unit") in a financial entity such as an investment trust.


fund house

(finance) A company that owns and operates a mutual fund.


bounced cheque

(finance) A cheque returned by the bank due to insufficient funds.


Big Four

Banks have been reporting their results in recent days, with HSBC the latest to reveal higher profits. It is one of the so-called big four, which also includes Barclays, Lloyds and NatWest. ¶ In response. Harriett Baldwin, who chairs the Treasury Committee, said: "The big four banks have been far too slow to reward savers through better rates on instant access savings accounts."

2023 October 30, Kevin Peachey, “Big banks accused of doing little for savers”, in BBC News (news), BBC:

Any group of four major or largest corporations in a given industry, especially when such a small group has oligopoly or near-oligopoly; as:

(finance) The four largest banks in any of various countries, or (internationally) the Federal Reserve, People's Bank of China, Bank of Japan, and European Central Bank.

(finance, business, technology) The four largest corporations of Big Tech during the 2000s-2020s, usually defined as Alphabet (f.k.a. Google), Meta (f.k.a. Facebook), Amazon, and Apple.

That earned him a professional license he would need if he wanted to rise to the role of US senior partner at PwC, where he leads the Big Four firm's global advisory business and is co-head of its US consulting practice.

2023 November 4, Stephen Foley, Michael O'Dwyer, “Engineer pulls off structural change to lead Big Four firm”, in FT Weekend, page 13:

(business, accounting) The four largest global auditing firms, comprising Deloitte, Ernst & Young (EY), KPMG, and PwC.


subadvisor

(finance) A fund manager responsible for a (usually specialized) subset of an investment portfolio


bull run

The S&P 500, as of Wednesday, is now in the longest-running bull market ever, as some strategists measure it. That would be one day older than the 1990-to-2000 bull run, which ended with the bursting of the tech bubble in 2000.

2018, Patti Dom, “‘Phenomenal’ bull market could continue but at a different pace, Bob Doll says”, CNBC Markets, 2018-08-11

(finance) A contiguous period during which a stock market is a bull market.


sell short

en-verb

sell short (third-person singular simple present sells short, present participle selling short, simple past and past participle sold short)

sells short (present singular third-person)
selling short (participle present)
sold short (participle past)
sold short (past)

George Soros famously did this in 1992—selling short some ten billion dollars’ worth of sterling. A few years ago, John Paulson wagered hugely against U.S. mortgage bonds and made several billion dollars.

2011 July 18, John Cassidy, “Mastering the Machine”, in The New Yorker, →ISSN:

(transitive, finance) To engage in the process of short selling (selling a stock one does not own on the premise of the stock's price going down).

myydä lyhyeksi

finance: to engage in the process of short selling


student loan

(education, finance) A loan granted to a student in higher education to help pay for the tuition.


upside-down income statement

en-noun

upside-down income statement (plural upside-down income statements)

(accounting) A planned income statement laid out in the reverse of the usual order, i.e. starting with the bottom line and continuing with the figures that the business must achieve in order to meet it.


two-name paper

(finance) Negotiable paper on which at least two persons are severally liable as separate makers, or, usually, one as maker and one as endorser.


foreign exchange certificate

foreign exchange certificate (plural foreign exchange certificates)

(finance) A surrogate currency often used as a tool to control circulation of foreign exchange in countries where the national currency is subject to exchange controls or is not convertible. The certificates may be denominated in local or foreign currency, depending on the exact purpose of the regulation.


ETF

Against this backdrop, we reviewed the Kiplinger ETF 20, the list of our favorite exchange-traded funds.

2020, Nellie S. Huang, "Find the Best ETFs For Your Goals" in Kiplinger's Personal Finance, 74(9), p. 18

In contrast, government bond ETFs sucked in $30.4bn, nearly double the level in September, with almost all this money heading into US Treasury funds.

2023 November 11, Steve Johnson, “Corporate bond ETFs hit by record withdrawals as US lending rates soar”, in FT Weekend, page 13:

exchange-traded fund
w:exchange-traded fund

(finance) Initialism of exchange-traded fund.


treasury stock

(finance) Issued stock of an incorporated company held by the company itself.


trustee stock

trustee stock (countable and uncountable, plural trustee stocks)

(finance) High-grade stock in which trust funds may be legally invested.


free-handed

en-adj

free-handed (comparative more free-handed, superlative most free-handed)

more free-handed (comparative)
most free-handed (superlative)

This distinction is all the more important when we are in a jurisdiction where the free-handed mortgage of a stock in trade is unlawful.

1943, Garrard Glenn, Mortgages, deeds of trust, and other security devices as to land, Volume 3, page 409:

(finance) Alternative form of freehanded (transferable to other assets).


subaccountant

(accounting) A worker who deals with accounts but ranks below an accountant.


Eurobank

(finance) A financial institution (not necessarily located in Europe) that accepts deposits, and makes loans, in foreign currencies.


return on investment

en-noun

return on investment (plural returns on investment)

(finance) A benefit gained by an investor from an investment.


actuarial science

In actuarial science alone the theory^([of generalized linear models]) has been used to model problems dealing with premium rating, mortality, multiple state models and claims reserving.

2007, Philip J. Boland, Statistical and Probabilistic Methods in Actuarial Science, Taylor & Francis (CRC Press: Chapman & Hall), page 221:

The use of Bayesian concepts and techniques in actuarial science dates back to Whitney (1918) who laid the foundations for what is now called empirical Bayes credibility.

2014, Luis Nieto-Barajas, Enrique de Alba, “14: Bayesian Regression Models”, in Edward W. Frees, Richard A. Derrig, Glenn Meyers, editors, Predictive Modeling Applications in Actuarial Science: Volume 1, Cambridge University Press, page 334:

This book aims to provide a broad introduction to computational aspects of actuarial science in the R environment. We assume that the reader is either learning or is familiar with actuarial science.

2015, Arthur Charpentier, Computational Actuarial Science with R, Taylor & Francis (CRC Press: Chapman & Hall), page xvii:

(applied mathematics, insurance, finance) The discipline within applied mathematics dealing with risk assessment and the modelling of uncertainty; the rigorous application of mathematical and statistical methods to assess risk, in industries including insurance and finance.

精算

discipline within applied mathematics dealing with risk assessment; practice of applying mathematical and statistical methods to assess risk


paydown

paydown (countable and uncountable, plural paydowns)

The significant cash flow of the enlarged entity following a combination would allow for rapid debt paydown and the continued funding of growth initiatives.

2009 September 7, “Letters to Cadbury: 'I would ask you to reconsider your rejection ... '”, in Guardian:

(finance) The reissue of an unpaid debt for less than the initial issue.


emerging market

emerging market (plural emerging markets)

International Finance Corporation
emerging market

Popularized by the International Finance Corporation, early 1980s.

And while Brazil's Telebras and South Africa's Anglo American Corp. again rank among the world's top emerging-market groups, their market capitalizations are also down from last year.

1998 July 13, Kerry Capell et al., “Emerging Markets: The Winners in a Losing Year”, in Businessweek, retrieved 2015-07-10:

Around 70% of world growth over the next few years will come from emerging markets, with China and India accounting for 40% of that growth.

2011 July 8, Kenneth Rapoza, “Emerging Market Growth Beats US”, in Forbes, retrieved 2015-07-10:

It's been a long time since the farmers left the "farmhouses" of Delhi, but the word now describes the weekend retreats of the upper class, playgrounds on the fringes of this emerging-market city.

2012 April 23, Ruchir Sharma, “Hitting the BRIC Wall”, in Time, retrieved 2015-07-10:

Government departments advised him to seek out new business in “emerging markets”, counsel he said was risible given the huge market on Britain’s doorstep.

2022 November 15, Lisa O'Carroll, “Cheesemaker sells firm to overcome Brexit barriers after losing £600,000 in sales”, in The Guardian:

(economics, finance, also attributive) A relatively less-developed country or other trading region undergoing significant growth in production, consumption, or foreign investment.


PBC

People's Bank of China
w:People's Bank of China

(finance) Initialism of People's Bank of China.


air loan

(finance) A mortgage loan which is taken out by a fictitious buyer or for a fictitious property, or both.


value premium

(finance, investing) The greater risk-adjusted return of value stocks over growth stocks.


ISIN

ISIN (countable and uncountable, plural ISINs)

(finance) Initialism of International Securities Identification Number: a 12-character identification number that uniquely identifies a security.


Coordinate term: HTM


preferred stockholder

preferred stockholder (plural preferred stockholders)

(finance) A stockholder of preferred stock.


nettable

Nonnettable inventory is one type of unavailable inventory, but there may also be some nettable inventory that is unavailable to be picked.

1995, Alan D. Luber, Solving Business Problems with MRP II, →ISBN, page 32:

If the two trades are not legally nettable, the second trade has almost zero impact on potential exposure. If they are legally nettable, then the second trade significantly reduces potential exposure.

2003, Peter Field, Modern risk management: a history, page 208:

From a constitutional law standpoint, the often debated question arises as to whether the objective net principle can be sufficiently met simply by way of a chronological loss netting within a given source of income alone or whether the rule of equality of taxation requires that losses be nettable vertically in principle except insofar as particular ground for justification, such as averting abusive tax planning, undermine the principle of setting off losses.

2008, Statistisches Bundesamt, Dual Income Tax, →ISBN, page 129:

(finance) Capable of producing a net profit on the books.


guldengroschen

(money, historical) A silver German coin that was worth one gold gulden in the 15th century and two thirds of a taler in the 17th century.


passive income

passive income (countable and uncountable, plural passive incomes)

Players win when they get out of the rat race (salaried jobs) by amassing passive income (investments in real estate or the stock market).

2007 January 25, Penelope Green, “Barons Before Bedtime”, in New York Times, retrieved 2015-08-27:

Passive income, or profits earned from so-called intangible sources such as interest, is taxed in the U.S. as it is earned.

2011 April 7, Matthew Caminiti, Paul Hughes, “Taxes 101: A Comparative Perspective”, in Businessweek, retrieved 2015-08-27:

Investing in a fully managed asset will provide a passive income and will ensure that you are not stuck with finding tenants, repairs and maintenance costs.

2015 July 30, Dale Anderson, Jeremy Solis, “Expert insights: is the UK a property safe haven?”, in Telegraph, UK, retrieved 2015-08-27:

(finance) An income that is made using little to no effort, such as pension income, rent, or interest, as opposed to normal employment.


underhedged

en-adj

underhedged (comparative more underhedged, superlative most underhedged)

more underhedged (comparative)
most underhedged (superlative)

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Instead, it was a collective failure of the governing five-man executive committee that over the years became so fixated on increasing the firm’s book value — and expecting the stock price to follow — that it lost sight of the concentrated, underhedged exposure to the home mortgage market that left Bear vulnerable.

2008 May 7, Landon Thomas Jr., “Quarrel Erupts Between Bear’s Elder Statesmen”, in New York Times:

(finance) On a hedged a transaction, having too much cash flow committed to rated note debt coverage, leaving too little available for the income notes.


definitive agreement

en-noun

definitive agreement (plural definitive agreements)

(finance) A document defining the final terms of an agreement between buyer and seller, typically of a company's assets or stock.


buy low, sell high

[T]he art of broadcasting, writes William Paley, "is to know what the public is seeking before the public even knows it is looking for something else." As a guide, that advice is about as useful as buy low, sell high.

1979 March 26, Gerald Clarke, “Books: Man Behind The Tube”, in Time, retrieved 2015-10-05:

The old investment adage “buy low, sell high” makes perfect intuitive sense, but folks like William O’Neil would prefer to “buy high and sell higher.”

2006 December 11, John P. Reese, “Buying High, Selling Higher”, in Forbes, retrieved 2015-10-05:

Any savvy investor knows the basic principle of investment: buy low, sell high.

2011 May 14, Jennifer Hill, “The 10 biggest investment pitfalls (and how to avoid them)”, in Independent, UK, retrieved 2015-10-05:

(business, finance) Commonplace investment advice, recommending that a prospective investor purchase an asset at a low cost and sell it later for a high price.


nonwasting

(law, finance) Of an asset: not undergoing a gradual decrease in value over time.


sell in May and go away

If ever there was a year in which, as the saying goes, “to sell in May and go away”, this was surely it. . . . From the beginning of May, when the Dow Jones Industrial Average stood above 10,000, it slid to a low in July of 7,702.

2002 August 23, “Jumping but jumpy”, in The Economist, retrieved 2015-10-11:

"Sell in May, and go away" is an old English proverb, but it does have some basis in reality. In the 1980s, Yale Hirsch, founder of the Stock Trader's Almanac, crunched the numbers. . . . From 1950 to 2007, the market from May to October provided an average annual gain of 0.6%, enough to earn $1,021 on $10,000 in those years. But if you had invested only in the "best six months," from November to April, your average gain would have been 7.6%, netting you $531,444 over those 58 years.

2009 May 15, Ben Steverman, “Stocks: Sell or Stay in May?”, in Businessweek, retrieved 2015-10-11:

One such truism is this: “Sell in May and go away”, meaning investors are best advised to sell stocks at the beginning of May and return to the equity market at the end of October.

2011 April 25, Josh Lipton, “Should You Sell in May and Go Away?”, in Forbes, retrieved 2015-10-11:

(business, stock market) Stock market securities can be expected to increase in value to a greater degree in the months from November through April than in the months from May through October, and profit-minded investors should manage their portfolios accordingly.


CCAA

(Canada, law, finance) Initialism of Companies' Creditors Arrangement Act. (bankruptcy in Canada)

LACC (loi sur les arrangements avec les créanciers des compagnies)


buy when it snows, sell when it goes

There is a phenomenon in stock market investment known as "seasonality." In Canada we sometimes summarize it with the epithet "Buy when it snows, sell when it goes."

2007 May 10, Peter McKenzie-Brown, “Sell in May and Stay Away!”, in Language Matters, retrieved 2015-10-13:

Most years, he says, investors can make money by simply holding broad indices, such as the S&P 500 and Canada's S&P/TSX Composite, from Oct. 28 to May 5, when they tend to make most of their gains, and then selling. If that's too hard to remember, Vialoux has a handy catch phrase: “Buy when it snows! Sell when it goes!”

2010 October 21, Paul Marshman, “Buy when it snows, sell when it goes!”, in Toronto Star, Canada, retrieved 2015-10-13:

According to Carlo R. Besenius, CEO of Creative Global Investments in Luxembourg, the trade, known as "buy when it snows, sell when it goes," was profitable in 53 of the past 61 periods. In a recent note, he pointed out that Munich, Geneva, Luxembourg, and Calgary had their first snowfall on Sunday, Oct. 28. He credits annual recurring events such as transactions for tax purposes and the holidays, among others.

2012 November 3, Robin Goodwin Blumenthal, “Season for Stocks: Let It Snow, Let It Snow?”, in Barron's, retrieved 2015-10-13:

(business, stock market, chiefly northern US and Canada) Stock market securities can be expected to increase in value to a greater degree in the cold winter months from November through April than in the warm months from May through October, and profit-minded investors should manage their portfolios accordingly.


midrate

(finance) The average of the buying and selling rates for a currency.


sell away

en-verb

sell away (third-person singular simple present sells away, present participle selling away, simple past and past participle sold away)

sells away (present singular third-person)
selling away (participle present)
sold away (participle past)
sold away (past)

(finance, of a broker) To sell a financial product without the authorization of one's employing broker-dealer to sell that product.


buy in

buy in (third-person singular simple present buys in, present participle buying in, simple past and past participle bought in)

buys in (present singular third-person)
buying in (participle present)
bought in (participle past)
bought in (past)

(finance) For the buyer of securities, whose seller fails to deliver the securities contracted for, to buy the securities from a third party and demand the difference in price from the original seller.


ETO

(finance) Initialism of exchange-traded option.


EPR

(finance) Initialism of expected profit rate.


superbond

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In January 2013, the government announced that it had reached a deal with creditors to restructure its $544 million commercial external debt, commonly referred to as the “superbond.”

2013, Central Intelligence Agency, The CIA World Factbook 2014, →ISBN:

In 2007 the debts had been aggregated into one superbond, whose interest rate began at 4.5 percent […]

2015, Tom Lansford, Political Handbook of the World 2015:

As part of that new bond, general obligation holders would have the first claim on government revenues, giving them the highest priority in the superbond structure.

2015 November 22, Michael Corkery, “Creditors Signal Potential Support for Overhauling Puerto Rico Debt”, in New York Times:

(finance) A financial instrument that consolidates multiple debts into a single bond.


SEPA

Single Euro Payments Area
w:Single Euro Payments Area

(finance) Acronym of Single Euro Payments Area.


ISX

(finance) Initialism of Iraq Stock Exchange.


RBS

Royal Bank of Scotland
w:Royal Bank of Scotland

(UK, finance) Initialism of Royal Bank of Scotland.


Nakamoto

Nakamoto consensus

Nakamoto protocol

(cryptocurrencies) Of, or pertaining to, the blockchain technologies promulgated by Satoshi Nakamoto.


frankable

(Australia, finance) Eligible for franking, a system of tax credit.


growthy

en-adj

growthy (comparative growthier, superlative growthiest)

growthier (comparative)
growthiest (superlative)

The companies represented are certainly large, even though they could be a bit more growthy.

2015, Russell Wild, Investing in ETFs For Dummies, page 63:

(animal breeding, finance) Inclined to growth; growing healthily or rapidly.


redemption value

en-noun

redemption value (plural redemption values)

(finance) The price (of a bond or other security) at which the issuing company may choose to repurchase before its maturity date

cena na obratno izkupuvane, otkupna cena

цена на обратно изкупуване, откупна цена


LTV

LTV (countable and uncountable, plural LTVs)


tail risk

From statistics, namely referring to the end-portion ("tail") of distribution curves.

The advantage of performing a simulation is that different tail risk measures can be computed from the simulated loss distribution.

2004, Srichander Ramaswamy, Managing Credit Risk in Corporate Bond Portfolios, →ISBN, page 123:

Hence, under tail risk, excess risk-shifting incentives of bank shareholders may exist almost independently of the level of initial or required capital.

2011, International Monetary Fund, Capital Regulation and Tail Risk, →ISBN, page 4:

Given this backdrop and these fears, “tail risk” hedging, or protecting investment portfolios against extreme negative moves in the market, has been a frequent topic of conversation among market participants.

2012 April 20, Alan Gerstein, “The Challenges in Hedging Tail Risk”, in The New York Times:

Not making this distinction between normal risk and extreme tail risk is often the reason institutions lack clear, highly focused goals and governance policies for the management of tail risk.

2013, Paul Karamjeet, Managing Extreme Financial Risk, →ISBN, page xxii:

(chiefly finance) The probability that the value of something will fall more than three standard deviations below the mean

black swan

a rare and hard-to-predict event with major consequences


GAR

gross annual revenue
gross annual revenue#English

(finance) Initialism of gross annual revenue.


reverse repo

(finance) A repo (repurchase agreement) viewed from the perspective of the borrower; an agreement to buy a certain security and resell it at some time in the future.


permabull

(finance, informal) A financial pundit who is permanently bullish on the stock market.


mutual organization

mutual organization (plural mutual organizations)

(finance) An organization in which members do not contribute to the capital of the company by direct investment, but derive their right to profits and votes through their customer relationship.


TOD

TOD (countable and uncountable, plural TODs)

(finance) Initialism of transfer on death. (the account has a beneficiary)


government bond

government bond (plural government bonds)

(finance, government) A bond issued by a national government, generally with a promise to pay periodic interest payments and to repay the face value on the maturity date.


overspeculation

(finance) Excessive or very risky speculation.


Sharpe ratio

Named after William F. Sharpe (born 1934), American economist.

(finance) A ratio that measures the excess return (or risk premium) per unit of deviation in an investment asset or a trading strategy, used to examine the performance of an investment by adjusting for its risk.

Sharpen luku

measure of risk-adjusted performance of an asset


candlestick chart

candlestick chart (plural candlestick charts)

(finance) A style of financial chart used to describe price movements of a security, derivative, or currency.


nonqual

(finance, informal) A stock option that does not qualify for the special treatment accorded to incentive stock options.


MTF

(finance) Initialism of multilateral trading facility.


propco

(finance) A property holding company (a subsidiary that holds a company's real estate)


enterprise value

enterprise value (countable and uncountable, plural enterprise values)

Apple Inc. is valued at $500 billion but since they have $200 billion in cash and no debt, their enterprise value is only $300 billion

market capitalization
market capitalization

(finance) The market capitalization of a company, plus debt minus cash.


prerealization

(US, finance) Occurring before the realization of money or other assets.


unitrust

(finance) A form of trust established by a donor to provide an income stream to a beneficiary, as a percentage of the principal, returning the remainder to the donor when the trust terminates.


Henson trust

After Leonard Henson of Guelph, Ontario, who set up an absolute discretionary trust that became the subject of a legal case.

(Canada, law, finance) A trust that protects the assets of a disabled person (typically an inheritance) and gives the trustee absolute discretion in how to use those assets to assist the beneficiary.


debt-for-nature

a debt-for-nature swap, exchange, or scheme

(finance) Being or relating to a financial transaction that writes off a portion of a developing nation's foreign debt in exchange for local investments in environmental conservation.


tendie

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From chicken tender + -ie. As Internet slang, it is popularized by a genre of post on 4chan that mocks the concept of childish basement dwellers who continue to eat chicken tenders well into adulthood.

In recent weeks, the only way to get up to speed with WallStreetBets would have been through full immersion, absorbing comments about “tendies” and “diamond hands” and “holding the line” until you worked up the nerve to post the group’s most beloved slogan for yourself: “We like the stock.”

2021 January 29, John Herrman, “Everything’s a Joke Until It’s Not”, in The New York Times:

There are members who say they made enough to pay off student debt, afford an operation for a family member, and even buy a yacht, all thanks to their fresh delivery of “tendies” – WSB jargon for money (it’s an allusion to tender fried chicken).

2021 January 29, Desmund Delaney, “A year ago on Reddit I suggested investing in GameStop. But I never expected this”, in The Guardian:

financial instrument
financial instrument

(finance, Internet slang, usually in the plural) The money or financial instruments gained by independent currency or securities traders following a successful wager or risk.


gross up

en-verb

gross up (third-person singular simple present grosses up, present participle grossing up, simple past and past participle grossed up)

grosses up (present singular third-person)
grossing up (participle present)
grossed up (participle past)
grossed up (past)

(transitive, financial) To convert into a gross figure; to total (up).


hook stock

(finance) A stock which is held by a subsidiary of the issuing company.


ex dividend

With respect to the cash dividend on the preferred stock, the Exchange fixed an ex-dividend date of May 1, 1975 (the ex-dividend date).

1985, U.S. Tax Cases, volume 84, number 2, page 72:

The ex-dividend date is three business days before the record date. Ex-dividend means without the dividend. The ex-dividend date convention assigns the dividend to the buyer or seller as follows: A buyer in a transaction that occurs before the ex-dividend date is entitled to receive the dividend and the seller is not; a seller in a transaction that occurs on or after the ex-dividend date is entitled to keep the dividend.

2007, Robert W. Hamilton, Attorney's Guide to Business and Finance Fundamentals, page 278:

(finance) Of a declared dividend, belonging to the seller rather than the buyer.


overwithhold

overwithhold (third-person singular simple present overwithholds, present participle overwithholding, simple past and past participle overwithheld)

overwithholds (present singular third-person)
overwithholding (participle present)
overwithheld (participle past)
overwithheld (past)

(finance) To withhold an excess amount of tax for an employee etc., the excess being refunded at a later stage.


underwithhold

underwithhold (third-person singular simple present underwithholds, present participle underwithholding, simple past and past participle underwithheld)

underwithholds (present singular third-person)
underwithholding (participle present)
underwithheld (participle past)
underwithheld (past)

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(finance) To withhold an inadequate amount of tax for an employee etc., leaving a liability to pay the rest at a later stage.


triple lock

He refused to rule out changes to the pensions triple lock and said a new windfall tax on energy profits was on the table.

2022 October 17, “Jeremy Hunt shreds Truss’s economic plans in astounding U-turn on tax”, in The Guardian:

(UK, finance) A policy whereby the state pension is increased every year to match either price inflation, earnings growth, or a third fixed rate, whichever is highest.


untaint

untaint (third-person singular simple present untaints, present participle untainting, simple past and past participle untainted)

untaints (present singular third-person)
untainting (participle present)
untainted (participle past)
untainted (past)

(transitive, Australia, finance) To restore (a share capital account) from a tainted state by paying the necessary tax, etc.


MIRR

Modified internal rate of return
w:Modified internal rate of return

(finance) Initialism of Modified internal rate of return.


nondeductibility

(finance) The quality of not being deductible.


PPF

Public Provident Fund
w:Public Provident Fund (India)

(India, finance) Initialism of Public Provident Fund.


NSI

National Savings and Investments
w:National Savings and Investments

(UK, finance) Initialism of National Savings and Investments.


cash basis

Coordinate term: accrual basis

(finance, accounting, often attributive) A method of accounting that tracks income and expenditure when they actually occur, rather than when they become due.


mortgage-backed

(finance) Having mortgages as collateral.


runrate

In addition, the group dealt with all the routine tasks served up by a company with a revenue runrate of $40 billion and more than 300,000 owners.

2009, Richard J. Connors, Warren Buffett on Business: Principles from the Sage of Omaha:

(accounting) Extrapolation of financial results into future periods.


rate of return

Kaufmann (and others) show that macro-policy distortions, such as overvalued exchange rates, trade restrictions, and poor fiscal policies, partially account for the disappointing rates of return.

1992, William Ascher, Coping with the Disappointing Rates of Return of Development Projects That Affect the Environment:

The initial fair rate of return studies in insurance adopted the book value approach. These studies looked at accounting returns in insurance (usually, rate of return on equity or on total assets) and compared them to returns in other industries.

2013, J. David Cummins, Scott E. Harrington, Fair Rate of Return in Property-Liability Insurance, →ISBN, page xiii:

(finance, business) The amount of profit earned in a reporting period, expressed as a percentage of the cost.


risk-on

In a risk-on environment, they then sell those currencies and use the proceeds to buy risk assets with greater price appreciation potential. In a risk-off environment, they're compelled to sell their risk assets and buy back those funding currencies that they previously sold.

2011, Brian Dolan, Currency Trading For Dummies, →ISBN, page 98:

The higher the value of c1 (i.e., the higher the value of α), the faster the transition from a risk-off to a risk-on mode.

2014, Eric Barthalon, Uncertainty, Expectations, and Financial Instability, →ISBN, page 195:

Capital flows have, however, continued to exhibit their well-known volatility, given the risk-on and risk-off scenario driven by investors' perception of the macroeconomic and financial developments in the source countries rather than the recipient countries.

2014, Rakesh Mohan, Muneesh Kapur, Monetary Policy Coordination and the Role of Central Banks, →ISBN:

(finance) A mode of investment behavior in which investors shift low-risk investments to more profitable high-risk investments.


risk-off

The yen tends to appreciate in the aftermath – first two quarters – of risk-off episodes, whether the appreciation is measured as nominal, real effective, or bilateral against the U.S. dollar (Figure 6).

2013, Dennis P. J. Botman, Irineu E. Carvalho Filho, Mr. Raphael W. Lam, The Curious Case of the Yen as a Safe Haven Currency, →ISBN:

It is also noteworthy that risk-off events have happened more often since 2007.

2013, Reinout De Bock, Irineu E. Carvalho Filho, The Behavior of Currencies during Risk-off Episodes, →ISBN, page ii:

My answer is a straightforward no, but that the recent episode of global financial market turmoil is likely to be more serious than any period of volatility and risk-off behaviour since 2009.

2016 March 2, Nouriel Roubini, “Is the world economy having a 2008 moment?”, in The Guardian:

(finance) A mode of investment behavior in which investors shift high-risk investments to low-risk investments.


cap table

Now that we've worked through all of the specific clauses in the term sheet, let's go through how a typical capitalization table (cap table) works. A term sheet will almost always contain a summary cap table, which we describe in this chapter.

2011, Brad Feld, Jason Mendelson, Venture Deals […] , John Wiley & Sons, →ISBN, page 95:

When you hire a new key employee, you will probably give him or her some stock and add that to the cap table.

2013, Nicole Gravagna, Peter K. Adams, Venture Capital For Dummies, John Wiley & Sons, →ISBN:

A cap table is not a financial statement, per se, but it is an important document that entrepreneurs should maintain at all times.

2014, David Worrell, The Entrepreneur's Guide to Financial Statements, ABC-CLIO, →ISBN, page 191:

(business, finance) A document which details the distribution of equity in a company.


limiting factor

en-noun

limiting factor (plural limiting factors)

management accounting
management accounting

(management accounting) A constraint that limits the business from achieving a higher level of profitability.


investment fund

investment fund (plural investment funds)

(finance) A fund consisting of investments made by a group of people and managed by a professional investment manager.


barrier to entry

barrier to entry (plural barriers to entry)

(finance) A cost that must be incurred by a new entrant into a market, but which does not apply to incumbents.


buy side

The sell side exists only because the buy side trades before we can understand when the sell side is profitable.

2003, Larry Harris, Trading and Exchanges: Market Microstructure for Practitioners, →ISBN:

Like their buy-side counterparts, the sell side will welcome entrepreneurs with open arms for no other reason than to regain the home court advantage: to reconnect to the buy side.

2009, Richard Goldberg, The Battle for Wall Street, →ISBN:

I stand by the door, playing the role of greeter, accumulating lipstick impressions on my cheeks and, occasionally, a small gift -- a perk of the buy side.

(finance) The sector of the finance industry that assists investors and investing institutions in purchasing products from the sell side.


sell side

An endless cycle forms, and it's a cycle that I can't imagine the sell side is happy about. Like their buy-side counterparts, the sell side will welcome entrepreneurs with open arms for no other reason than to regain the home court advantage: to reconnect to the buy side.

So when my 69,000 shares are printed in the BBH market, it not only draws attention, but makes the sell side begin to wonder if Argus knows something. And the last thing anybody on the sell side wants is to be in the dark. My phone starts ringing with sell siders telling me they could have done better on my last pring, saying they can be more competitive.

(finance) The sector of the finance industry that sells products such as stocks, bonds, and mutual funds to investors.


stock split

(finance, US) An event wherein a company that has previously issued shares of stock increases the number of shares while reducing the value of each share accordingly.


unliquid

en-adj

unliquid (comparative more unliquid, superlative most unliquid)

more unliquid (comparative)
most unliquid (superlative)

an unliquid loan


nonliquidity

(finance) The quality of being nonliquid.


information impactedness

Coined by Oliver E. Williamson, an American economist and a professor at the University of California, Berkeley.

(finance) A characteristic of transactions in which the parties to a contract are inclined to operate opportunistically in the presence of uncertainty and complexity surrounding the contract.

Oliver E. Williamson
University of California, Berkeley


swingline

(finance, chiefly attributive) A line of credit offered to a business so that it can repay other loans.


specie point

The difficulties which arise when universal coinage schemes are brought forward ought not to conceal from us the solid advantages which such an institution would confer on the world... The question of mint pars would no longer arise, and the specie points would be stated more simply.

1885, Charles Francis Bastable, Encyclopaedia Britannica, 9th ed., Vol. XVI, "Money"


mint par of exchange

en-noun

mint par of exchange (plural mint pars of exchange)


mint par

The equivalent, in terms of one coinage, of the quantity of pure metal contained in another standard coin, both being of the same metal, and taken at mintage weights... Mint pars are given above for Spain, Italy, Portugal, Brazil, Argentina, and Chili, although at present (1895) their actual exchanges are in terms of more or less inconvertible paper money.

1896, R.H.I. Palgrave, Dictionary of Political Economy, Vol. II, "Mint Par of Exchange"

We find that the rates at which one currency will exchange for another fluctuate between two limits on each side of the Mint Par, marking the points at which it becomes more profitable to send or to receive gold rather than to send or receive a credit instrument. These theoretical limits are known as the gold points.

1925, Samuel Evelyn Thomas, chapter XXIX, in Elements of Economics, page 461:

(historical finance) The monetary unit of a country stated in terms of the monetary unit of a second country which uses the same metallic standard.


gold point

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The New York exchange has kept hovering at only a little above the gold point.

(historical finance) The values above and below the mint par of two monetary units on a shared metallic standard at which it became equally cheap to import or export gold or silver bullion instead of resolving trades through credit instruments such as bills of exchange.


contra-trading

(finance, taxation) A form of carousel fraud that evades detection by using two "carousels" of traded goods, where one carousel is legitimate and the other is not, and thus the input and output VATs neutralize each other to conceal the fraud.


volatility buffer

volatility buffer (plural volatility buffers)

(finance) A pool of capital or other financial instrument through which a person can reduce the impact of losses to their assets in the event of market unpredictability, especially in retirement.


HFT

HFT (countable and uncountable, plural HFTs)

high-frequency trading
high-frequency trading#English

(finance) Initialism of high-frequency trading.

high-frequency trader
high-frequency trader#English

(finance) Initialism of high-frequency trader.


unhedgeable

Using the unhedgeable gap risk during a margin period of risk as a starting point, this article introduces a reserve capital approach to the hedging error and its inclusion in derivatives pricing and valuation.

2016, Wujiang Lou, “Capital Pricing in Margin Periods of Risk and Repo KVA”, in arXiv:


EFP

EFP (countable and uncountable, plural EFPs)

(finance) Initialism of exchange for physical, exchange futures for physical, or exchange futures for product, a type of transaction.


go long

en-verb

go long (third-person singular simple present goes long, present participle going long, simple past went long, past participle gone long)

goes long (present singular third-person)
going long (participle present)
went long (past)
gone long (participle past)

I would recommend going long on tech stocks this year.

Let's say you went long with 100 shares of Computer Devices stock at its peak, $16.62. What then cost you $1,662 you could now sell for about $50, which would just about cover commissions.

1984, InfoWorld, volume 6, number 18, page 20:

(finance, intransitive) To buy a financial product, such as a share, so as to profit from a rise in its value; compare go short.


GOS

gross operating surplus
gross operating surplus#English

(finance, accounting) Initialism of gross operating surplus.


cookie-jar accounting

(finance, accounting) An accounting practice in which a company takes a quantity of large reserves from an economically successful year and incurs them against losses from less successful years.


subledger

(accounting) A subsidiary ledger dealing with a specific subsection of the general ledger, such as property and equipment costs.


DEX

en-noun

DEX (countable and uncountable, plural DEXes or DEXs)

Examining the history of how DEXs have evolved can help elucidate where DEXs are headed and how they will compete with centralized exchanges.

2024 April 10, Alex Wearn, “CEXs vs. DEXs: The Future Battle Lines”, in CoinDesk:

The Solana blockchain alone did more volume than Ethereum, Base and BSC's cumulative DEX activity of $37.9 billion, of which Ethereum accounted for $14.3 billion while the rest did over $11 billion each.

2024 November 19, Omkar Godbole, “SOL Looks Set to Outperform BTC as Solana-Based DEXs Register Record $41B in Trading Volume: Godbole”, in CoinDesk:

(cryptocurrencies) Abbreviation of decentralized exchange.


Verde

Based on the geography of Cape Verde, between or close to both a Canary and a European option.

(finance, of an option) That can be exercised on dates less-frequently than quarterly (usually annually), a set time period (usually one year) after the issue date, and before the expiry date.


tax farming

(finance) The collection of taxes by a private person, authorized by the state in exchange for a cash payment.


cold storage

(cryptocurrencies) A place where private keys are stored away from the Internet to prevent them from being stolen.


financial management

(finance) The efficient and effective management of money in such a manner as to accomplish the objectives of an organization.


smart contract

Coined by American computer scientist Nick Szabo in 1996.

coin

These are only a few examples of ways you can secure your smart contracts. The best thing to do to create a secure smart contract is to find an external auditor.

2019, Kevin Solorio, Randall Kanna, David H. Hoover, Hands-On Smart Contract Development with Solidity and Ethereum, O'Reilly Media, →ISBN, page 240:

Technically speaking a smart contract is a self-enforcing agreement between parties, mutually unknown and otherwise anonymous counterparts, which is capable of executing the rules automatically in satisfying certain conditions.

2020, Miadreza Shafie-khah, Blockchain-Based Smart Grids, Elsevier, →ISBN, page 112:

(technology, cryptocurrencies) A software protocol that is capable of automatically enforcing terms agreed upon in a contract.


U/A

(finance) Initialism of Under Agreement., indicating an irrevocable trust.


paper wallet

(cryptocurrencies) A collection of pieces of paper written or printed with credentials needed to spend one’s cryptocoins.


ICO

We have finished the coin website and are ready to launch the ICO offering. We are currently in the Phase 1 portion of the offering which is by far the best. We need your help in building a great community and we want to say Thank you with our ICO Phase one offering.

2014 February 27, Sparta, “Posted on Cryptocointalk.com”, in SpartaCoin, archived from the original on 2014-03-17:

The hype around blockchain technology is turning ICOs into the next digital gold rush: According to the research firm Smith and Crown, ICOs raised $27.6 million in the first two weeks of May alone.

2017 May 31, David Z. Morris, “The Rise of Cryptocurrency Ponzi Schemes”, in The Atlantic:

initial coin offering
initial coin offering#English

(cryptocurrencies) Initialism of initial coin offering.


nonconvertibility

(usually finance) The quality of being nonconvertible; the lack of an ability to be exchanged for an equivalent.


CFA

Chartered Financial Analyst
w:Chartered Financial Analyst

(finance) Initialism of Chartered Financial Analyst.


FUTA

(US, finance, by extension) The Federal unemployment tax collected under that act.


recontribution

en-noun

recontribution (countable and uncountable, plural recontributions)

(finance) The process of contributing an amount previously withdrawn back into the same fund.


intrinsic value

intrinsic value (countable and uncountable, plural intrinsic values)

(finance, economics) The real value of something within itself, which may not take into account its market value or face value.


net operating loss

net operating loss (plural net operating losses)

(investment, finance) The amount by which the income of a company is less than its expenditure.


anti-detriment

(Australia, finance) Being or relating to a refund of the contributions tax paid within a taxed superannuation account, in the event of a member's death.


girocheque

(finance) A giro; a document representing a request to transfer funds from one's account.


CTA

CTA (countable and uncountable, plural CTAs)

(finance) Initialism of commodity trading adviser.


antisilver

en-adj

antisilver (comparative more antisilver, superlative most antisilver)

more antisilver (comparative)
most antisilver (superlative)

(finance, historical) Opposing the use of silver as a medium of exchange.


GTC

good till canceled
good till canceled#English

(finance) Initialism of good till canceled.


SFYL

Heard you invested in Ethereum just before it hit its ATH last December. SFYL.

(Internet slang, trading) Initialism of sorry for your loss, commonly said in response to someone being scammed or losing money from a risky investment. It originated from the phrase "sorry for your loss", usually addressed to people mourning loved ones and is mostly used in finance in a sarcastic way.


ATH

(stock market and cryptocurrencies trading) Initialism of all-time high, referring to the value of an asset.


foreign trade

(business, trading) Trade that is conducted between a nation and other nations.

zahraniční obchod

trade between a country and other countries


AISP

service provider
service provider#English

(UK, finance) Initialism of account information service provider.


CDO-cubed

Given the number of CDO Squared transactions in the marketplace, and the continued narrowing of corporate spreads, the emergence of CDO Cubed could be regarded as almost inevitable.

2005, Jan Job de Vries Robbé, Paul U. Ali, Securitisation of Derivatives and Alternative Asset Classes: Yearbook 2005, Kluwer Law International, page 41:

But what if you can't sell all the bottom tranches of the CDO-squared securities? You guessed it. You form another pool of those untouchables—called a CDO cubed—and tranche away again.

2009, Les Leopold, The Looting of America: How Wall Street's Game of Fantasy Finance Destroyed our Jobs, Pensions, and Prosperity and What We Can Do About It, Chelsea Green Publishing, page 92:

A CDO squared is a CDO that only uses other CDOs as collateral. The CDO cubed is a special purpose vehicle with securitization payments in the form of tranches. A CDO cubed is backed by CDO squared tranches, allowing the banks to resell the credit risk they had taken once again by repackaging their CDO-squared.

2012, Oonagh McDonald, Fannie Mae & Freddie Mac: Turning the American Dream into a Nightmare, Bloomsbury Academic, page 317:

collateralized debt obligation
collateralized debt obligation

(finance) A type of CDO (collateralized debt obligation) that invests in CDO-squareds.


value investing

Coordinate term: growth investing

(finance) An investment paradigm that focuses on buying securities at a price lower than their intrinsic value.


diversifiable risk

en-noun

diversifiable risk (countable and uncountable, plural diversifiable risks)

The Comments certainly contemplate that, with respect to uncompensated, diversifiable risk, fiduciaries act with that objective in mind: “[M]ore than conservatism or a duty of caution,” the duty to diversify is a “warning” that a “central feature” of the prudence of risk-taking “ordinarily is the reduction of uncompensated risk through diversification.”

2004, Harvey E. Bines and Steve Thel, Investment Management Law and Regulation (Second Edition), Aspen Publishers, page 412

Diversifiable risk is an asset's risk that is related to a particular business event, such as a strike, and which can be overcome by diversification.

2008, Business Management: A Contemporary Approach, Juta & Co., page 109:

The risk of an investment consists of two components: diversifiable and non-diversifiable risk. Diversifiable risk, sometimes called unsystematic risk, results from uncontrollable or random events that are company-specific, such as labour strikes, lawsuits and regulatory actions.

2011, Fundamentals of Investing (Third Edition), Pearson, page 144

(finance) An investment risk that can be mitigated by diversification of an asset portfolio.


non-diversifiable risk

non-diversifiable risk (countable and uncountable, plural non-diversifiable risks)

(finance) An investment risk that cannot be mitigated by diversification of an asset portfolio.


specific risk

specific risk (countable and uncountable, plural specific risks)

Therefore, the value is actually exposed to changes in two different risk factors, i.e., systemic risk and specific risk.

2000, Financial Risk Management: A Practical Approach for Emerging Markets, Inter-American Development Bank, page 64:

The fourth type of risk is called specific risk. As the name implies, specific risk is associated with the risk of a specific investment or a specific investment manager. Specific risk is one of the most dangerous types of risk, but fortunately it's also one of the easiest to eliminate.

2004, Andrew Springett, The Pension Strategy: The Ultimate Guide to Personal Investing, Insomniac Press, page 43:

By investing in individual companies, you're exposing yourself to specific risk, or unique business challenges faced by companies. Specific risk is very different than systematic risk, or risk faced by all stocks.

2010, Matt Krantz, chapter 18, in Fundamental Analysis for Dummies, Wiley Publishing:

(finance) A risk inherent in a small group of assets that can be mitigated by diversifying, investing in a broad portfolio of assets.


LEPO

Low Exercise Price Option
Low Exercise Price Option#English

(finance) Initialism of Low Exercise Price Option.


Low Exercise Price Option

Low Exercise Price Option (plural Low Exercise Price Options)

(finance) A European call option on a share or index, with a 1 cent strike price, traded on ASX. Instead of paying an upfront premium, margin is held and marked-to-market daily, making it similar to a futures contract on the underlying asset.


Trannies

(finance, slang) The Dow Jones Transportation Average.


zomma

(finance) A third-order measure of derivative price sensitivity, expressed as the rate of change of vanna with respect to changes in the spot price, or equivalently the rate of change of gamma with respect to changes in the volatility of the underlying asset.


vomma

(finance) A second-order measure of derivative price sensitivity, expressed as the rate of change of vega with respect to changes in the volatility of the underlying asset.


microfinancial

en-adj

microfinancial (comparative more microfinancial, superlative most microfinancial)

more microfinancial (comparative)
most microfinancial (superlative)

The fourth section turns to promotional micro-credit for micro and small business, as well as introducing an approach to community finance based on neighbourhood regeneration, rather than just microfinancial services for individual poor and excluded people.

1999, Ben Rogaly, Poverty, Social Exclusion and Microfinance in Britain, page 93:

(finance) Of, pertaining to, or by means of microfinance.


nonnettable

(finance) Not capable of producing a net profit on the books.


DJTA

Dow Jones Transportation Average
w:Dow Jones Transportation Average

(stock market) Initialism of Dow Jones Transportation Average.


DdeltaDtime

From the mathematical formula -(∂Δ)/(∂τ), the partial derivative of delta (Δ) with respect to time (τ), pronounced as "D delta (by) D time".

(finance) A second-order measure of derivative price sensitivity, expressed as the instantaneous rate of change of delta with respect to time.


DdeltaDvol

From the mathematical formula (∂Δ)/(∂σ), the partial derivative of delta (Δ) with respect to volatility (σ), pronounced as "D delta (by) D vol(atility)".

(finance) A second-order measure of derivative price sensitivity, expressed as the rate of change of vega with respect to changes in the spot price, or equivalently the rate of change of delta with respect to changes in the volatility of the underlying asset.


DvegaDspot

From the mathematical formula (∂𝒱)/(∂S), the partial derivative of vega (𝒱) with respect to spot price (S), pronounced as "D vega (by) D spot (price)".


rhova

(finance) A second-order measure of derivative price sensitivity, expressed as the rate of change of vega with respect to changes in the risk-free interest rate, or equivalently the rate of change of rho with respect to changes in the volatility of the underlying asset.


DvegaDtime

From the mathematical formula (∂𝒱)/(∂τ), the partial derivative of vega (𝒱) with respect to time (τ), pronounced as "D vega (by) D time".

(finance) A second-order measure of derivative price sensitivity, expressed as the rate of change of vega with respect to time, or equivalently the rate of change of theta with respect to changes in the volatility of the underlying asset.


DvegaDvol

From the mathematical formula (∂𝒱)/(∂σ), the partial derivative of vega (𝒱) with respect to volatility (σ), pronounced as "D vega (by) D vol(atility)".


DvommaDvol

From the mathematical formula (∂vomma)/(∂σ), the partial derivative of vomma with respect to volatility (σ), pronounced as "D vomma (by) D vol(atility)".

(finance) A third-order measure of derivative price sensitivity, expressed as the rate of change of vomma with respect to changes in the volatility of the underlying asset.


DgammaDspot

From the mathematical formula (∂Γ)/(∂S), the partial derivative of gamma (Γ) with respect to spot price (S), pronounced as "D gamma (by) D spot (price)".

(finance) A third-order measure of derivative price sensitivity, expressed as the rate of change of gamma with respect to changes in the underlying asset price.


DgammaDvol

From the mathematical formula (∂Γ)/(∂σ), the partial derivative of gamma (Γ) with respect to volatility (σ), pronounced as "D gamma (by) D vol(atility)".


correlation delta

(finance) A measure of derivative price sensitivity with respect to changes in the correlation between the underlying assets in a multi-asset option.


cross volga

(finance) A measure of derivative price sensitivity, expressed as the rate of change of vega in one underlying asset with respect to the volatility of another underlying asset in a multi-asset option.


cross vanna

(finance) A measure of derivative price sensitivity, expressed as the rate of change of vega in one underlying asset with respect to the asset price of another underlying asset in a multi-asset option, or equivalently the rate of change of delta in the second asset with respect to the volatility of the first asset.


cross gamma

(finance) A measure of derivative price sensitivity, expressed as the rate of change of delta in one underlying asset with respect to the asset price of another underlying asset in a multi-asset option.


DgammaDtime

From the mathematical formula (∂Γ)/(∂τ), the partial derivative of gamma (Γ) with respect to time (τ), pronounced as "D gamma (by) D time".

Figure 9 illustrates DgammaDtime of an option with respect to varying asset price and time to maturity.

2006, Paul Wilmott, The Best of Wilmott 2, page 38:

The change in gamma with respect to small changes in time to maturity, DGammaDtime - also called GammaTheta or color (Garman, 1992) — is given by (assuming we get closer to maturity): […]

2007, Espen Gaarder Haug, The Complete Guide to Option Pricing Formulas, page 49:

Colour (DgammaDtime, gamma bleed) (Fig. 137–145) characterizes the changing of Gamma as time changes: […]

2019 February 6, Mikhail M. Dyshaev, Vladimir E. Fedorov, “The Sensitivities (Greeks) for somemodels of option pricing with market illiquidity”, in Researchgate:

(finance) A third-order measure of derivative price sensitivity, expressed as the rate of change of gamma with respect to time, or equivalently the rate of change of charm with respect to changes in the underlying asset price.


badla

en-noun

badla (countable and uncountable, plural badlas)

(India, finance) An indigenous carryforward system used on the Bombay Stock Exchange.


safekeep

en-verb

safekeep (third-person singular simple present safekeeps, present participle safekeeping, simple past and past participle safekept)

safekeeps (present singular third-person)
safekeeping (participle present)
safekept (participle past)
safekept (past)

If a customer wants $1 million of General Motors Acceptance Corporation (GMAC) paper, the bank carries out the transaction between the customer and GMAC and safekeeps the paper for the customer until it matures.

1983, Marcia L. Stigum, Rene O. Branch, Managing bank assets and liabilities:

During the mid-1960s, Federal Reserve officials focused on developing institutional arrangements that would facilitate the conversion to book-entry form of definitive securities already safekept at Reserve Banks; they did not address the possibility of a larger system.

2003, Federal Reserve Bank of New York Economic Policy Review:

(transitive, chiefly finance) To keep safe; to preserve from harm or loss.


strike price

(finance) The price, fixed at the date of the initial transaction, at which an option can be exercised (the price at which an asset may be bought for a call option; the price at which an asset may be sold for a put option).


overindex

overindex (third-person singular simple present overindexes, present participle overindexing, simple past and past participle overindexed)

overindexes (present singular third-person)
overindexing (participle present)
overindexed (participle past)
overindexed (past)

(finance or figuratively) To overweight; to overemphasize.


lackstock

Only let me say, that I should be as glad as you could be to find myself in possession of a good independent fortune: and that we poor lacklands and lackstocks who have to earn our livelihood, must endeavour to make the best of it.

1802 November 6, Robert Southey, Letter to To Grosvenor C. Bedford, Esq.; republished in Warter, John Wood, editor, Selections from the letters of Robert Southey, volume 3, London: Longman, Brown, Green, Longmans, & Roberts, 1856, page 212:

(obsolete, stock market) A person who has no money in stocks and shares.


boom-and-bust

en-adj

boom-and-bust (comparative more boom-and-bust, superlative most boom-and-bust)

more boom-and-bust (comparative)
most boom-and-bust (superlative)

The continued boom‐and‐bust cycles in support of education and research constitute a costly waste of the nation's human resources.

1973 October 15, “Boom‐and‐Bust Science”, in The New York Times, →ISSN:

Florida was one of the most boom-and-bust states for home prices in the 2000s. The median price of a home in the Orlando area, for example, doubled from around $125,000 in 2002 to around $250,000 in 2006, before dropping just as fast.

2013 April 6, Matt Olberding, “Waverly business owner renting houses to Disney visitors”, in Lincoln Star Journal:

Caplan's concerns include the Williams and Oakervee Reviews, the boom-and-bust culture for rail funding, and the hiatus on major projects.

2020 January 2, “North demands Johnson delivers on promises”, in Rail, page 15:

(economics, finance, business) Featuring or characterized by a boom and bust cycle in a market or an economy, in which rapid price increase is followed by falling prices or recession.


quarter-up price

en-noun

quarter-up price (plural quarter-up prices)

(UK, finance) In share valuation, the bid price plus 25% of the difference between the bid and offer prices.


S&P

A new study from S&P Global Market Intelligence found that public companies with women CEOs or CFOs often were more profitable and produced better stock price performance than many of the companies that had appointed men to those roles.

2019 October 16, Jeanne Sahadi, “Why it’s good for business to have a woman at the top”, in CNN:

(finance) Initialism of Standard & Poor's: a financial services company based in New York City known for providing stock market indices and credit ratings.

Standard & Poor's

(finance) The S&P 500 Index, an stock market index published by S&P Global Ratings.


TOISA

(UK, finance, historical) Acronym of TESSA-only ISA: a form of cash ISA that could be opened using either capital that was originally invested in a TESSA and had not been withdrawn, or with funds transferred from another TOISA.


zero-based

Zero-based budgeting
Zero-based numbering

(finance) Of a budget or budgeting system: such that every expense needs to be approved every year, without the possibility of automatically accepting something because of its prior existence.


super-compound interest

(finance) Two-tier compound interest in which there is a higher interest rate on the accumulated unpaid interest than on the principal.


megacap

From mega- + cap (short for capitalization).

(US, finance) The stock of a public company with a very high market capitalization, typically over $100 billion.


Dow Jones

Example stock market indices: Dow Jones Industrial Average, Dow Jones Transportation Average, Dow Jones Utility Average, Dow Jones Composite Average, Dow Jones Global Titans 50.

(stock market, by extension) A stock market index code for the US stock market on the New York Stock Exchange and Nasdaq.


price of money

LL-Q1860 (eng)-Flame, not lame-price of money.wav

Apart from the fact that interest is not the price of money but the price of credit, that is, for borrowing money, it looks like Choudhury only wants to accept money as a means of exchange and a numeraire, not as an asset in its own right.

2009, Hans Visser, Islamic Finance: Principles and Practice, page 25:

(finance) The rate of discount in lending or borrowing capital.


marginal credit

(finance, historical) A method by which a merchant at home can render bills drawn upon him abroad saleable there, by associating a well-known banker's name on their margin with his own.


rug-pull

A back-formation from pull the rug out from under.

back-formation

Coordinate term: pump and dump

The anonymous founders of a crypto collective called AnubisDAO raised nearly $60 million in a few hours last year; less than a day later, the funds disappeared in the second-largest rug pull of 2021, according to the blockchain-tracking firm Chainalysis.

2022 March 2, David Yaffe-Bellany, “Millions for Crypto Start-Ups, No Real Names Necessary”, in The New York Times, →ISSN:

(cryptocurrencies) A fraud scheme where anonymous founders trick people into investing money for a cryptocurrency project which is then abandoned.


pain point

(business, finance) A difficult or challenging aspect of something.


rug pull

en-verb

rug pull (third-person singular simple present rug pulls, present participle rug pulling, simple past and past participle rug pulled)

rug pulls (present singular third-person)
rug pulling (participle present)
rug pulled (participle past)
rug pulled (past)

To prevent rugging, projects have implemented measures to commit liquidity through locking contracts and token burn related to liquidity pools. DeFi100 coin creators have rug pulled close to USD 32 million. SushiSwap has also suffered[…]

2021 August 31, Rajesh Dhuddu, Srinivas Mahankali, Blockchain A to Z Explained: Become a Blockchain Pro with 400+ Terms (English Edition), BPB Publications, →ISBN:

For that reason, you need to do your research before deciding on a cryptocurrency to yield farm. ... former Google engineers with visible faces and active Twitter accounts, it is unlikely that you will be “rug pulled” by that project.

2022 May 10, Robert Ross, A Beginner's Guide to High-Risk, High-Reward Investing: From Cryptocurrencies and Short Selling to SPACs and NFTs, an Essential Guide to the Next Big Investment, Simon and Schuster, →ISBN, page 244:

“Until the crypto market had a drop and some of the bigger exchanges cratered,” he explained. “People got nervous and wanted their money out of crypto. It should have been no big deal to ... “And then you got rug pulled?” I guessed.

2022 December 14, Roxie Rivera, When The Westons Went To Moscow, Night Works Books:

(cryptocurrencies) to carry out a rug-pull


UPB

(finance) Initialism of unpaid principal balance.


cum dividend

(finance) Of a declared dividend, belonging to the buyer rather than the seller.


arbitration of exchange

(finance) The determination of the exchange rate between currencies when there are one or more intermediate places through which the operations must pass.


FHLBB

Federal Home Loan Bank Board
w:Federal Home Loan Bank Board

(US, finance, historical) Initialism of Federal Home Loan Bank Board.


direct cost

Coordinate term: indirect cost

When you deduct the direct and indirect costs, the picture looks a little different. Only mail and coal traffic generated a net revenue when accounting for all costs, not just direct operating costs.

2023 March 8, Gareth Dennis, “The Reshaping of things to come...”, in RAIL, number 978, page 46:

(finance, accounting, business) A cost that can be directly attributed to a cost object (such as a particular project, facility, function, service, or product).


circular note

(finance, historical) A banknote issued for the convenience of travellers, being a kind of bill that is personal to the bearer, who is also given a corresponding 'letter of indication' addressed to foreign bankers.


callover

(finance) The calling out of a list of securities on a stock exchange so that dealers can bid for them.


MBS

This new vehicle funded the purchases of these tranches by issuing fixed-income interests to investors who were seeking high returns and who were willing to believe that by repackaging mezzanine tranches in MBS structures, some tranches could be designated as safe enough to obtain a AAA or AA rating.

2020, Katharina Pistor, chapter 4, in The Code of Capital […] , Princeton University Press, →ISBN:

mortgage-backed security
mortgage-backed security#English

(finance) Initialism of mortgage-backed security.


LAUTRO

(British, finance, insurance) Abbreviation of Life Assurance and Unit Trust Regulatory Organisation.


wasting investment

en-noun

wasting investment (plural wasting investments)

(finance) Stocks redeemable on a certain date at a fixed price, for which a premium above the redemption price is paid.


ticket day

(finance, historical) The day before settling day on the stock exchange.


quick ratio

(finance) Liquid assets divided by current liabilities; a measure of a company's ability to meet its short-term financial obligations.


current liability

current liability (plural current liabilities)

(accounting) A liability or financial obligation which will come due in the near-term (often within one year).


current ratio

(finance) Current assets divided by current liabilities; a measure of a company's ability to cover its current or short-term financial obligations.


tie-out

(finance, accounting, informal) An audit


tie out

en-verb

tie out (third-person singular simple present ties out, present participle tying out, simple past and past participle tied out)

ties out (present singular third-person)
tying out (participle present)
tied out (participle past)
tied out (past)

The prior year's numbers can generally be tied out to previously published numbers, and applicable accounting systems are a good source to garner both the prior and current year numbers.

2015, Joseph D. Rotman, The Industry Accountant's Intelligence Briefing:

(transitive, accounting, finance, informal) To validate or check for accuracy; verify the balance of numbers or figures; audit


aftercost

Merit and value imply comfort. an attractive design. an efficient motor, a sturdy chassis. the use of the best materials, complete equipment of tried accessories and economy in first cost and aftercost.

Of the $5,019-million total ($5,344 million less $325 million for loans), $2,564 million was classified as expenditures for aftercosts of war and $2,455 million for public social welfare or public philanthropy; that is, 51 per cent of the adjusted total expenditures from appropriated funds was disbursed for purposes which fall in our category of aftercosts of war (service-connected) and 49 per cent in our category of public philanthropy (non- service-connected).

1970, Frank Greene Dickinson, The changing position of philanthropy in the American economy:

It may be that the drafters of the regulation considered a State income tax to be an aftercost of earning income.

1995, United States. Tax Court, Reports of the United States Tax Court - Volume 104, page 760:

(accounting) A subsequent expense related to but occurring after the source of an expenditure.


permabear

(finance, informal) An investor who consistently acts in the expectation that the value of stocks and shares will fall regardless of market conditions.


nonamortizing

The assets of thrift institutions are dominated by amortizing (mortgage) instruments (see Appendix B). For banking institutions, nonamortizing assets (particularly commercial loans) are considerably more important than they are for thrifts.

1993, United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs, The state of the banking industry and the Bank Insurance Fund:

The building appraises at its cost basis, and its debt is a nonamortizing mortgage with a loan-to-value ratio of 0.8 and 9 percent interest.

1995, National Research Council, Division on Engineering and Physical Sciences, Commission on Engineering and Technical Systems, Protecting Buildings from Bomb Damage: Transfer of Blast-Effects Mitigation Technologies from Military to Civilian Applications, →ISBN:

For a nonamortizing asset, while the concept of a prepayment does not exist, a projection of defaults is still necessary to project how much will be recovered and when.

2008, Frank J. Fabozzi, Fixed Income Securities, →ISBN, page 302:

(finance) Not requiring the borrower to make scheduled payments; having no amortization schedule.


crossed cheque

(finance) An ordinary cheque with two transverse lines drawn across it, which have the effect of making it payable only through a banker.


cover shorts

cover shorts (third-person singular simple present covers shorts, present participle covering shorts, simple past and past participle covered shorts)

covers shorts (present singular third-person)
covering shorts (participle present)
covered shorts (participle past)
covered shorts (past)

(finance) To buy in such stocks as have been sold short, in order to meet one's engagements, etc.


adjusting entry

en-noun

adjusting entry (plural adjusting entries)

(accounting) A journal entry made to ensure that some financial activity is assigned to the posting period in which the activity occurred.


do a bit of stiff

en-verb

do a bit of stiff (third-person singular simple present does a bit of stiff, present participle doing a bit of stiff, simple past did a bit of stiff, past participle done a bit of stiff)

does a bit of stiff (present singular third-person)
doing a bit of stiff (participle present)
did a bit of stiff (past)
done a bit of stiff (participle past)

(dated, finance, slang) To accept or discount a bill.


inclearing

en-noun

inclearing (countable and uncountable, plural inclearings)

(finance) The total amount in cheques and bills of exchange chargeable to a bank by the clearing house.


degear

en-verb

degear (third-person singular simple present degears, present participle degearing, simple past and past participle degeared)

degears (present singular third-person)
degearing (participle present)
degeared (participle past)
degeared (past)

Rather the reverse, for Bank of Ireland managed to degear the fastest and at the same time push its profitability up second fastest.

It could use a lot of unused debt capacity in Huletts, which has degeared since the sale of its packaging and paper interests.

The company it bought had previously been the subject of a leveraged buy-out and is now being restructured and degeared.

When uncertain the prudent man steps back, degears, and waits for better opportunities that is my message in a nutshell.

2014, John Piper, Financial Cataclysm Now!, →ISBN:

(finance) To reduce one's debt by selling off assets, especially those that were acquired with borrowed money.

If the project is viable on this degeared basis, then leasing is compared in price with other forms of borrowing available.

It should be noted that there exists considerable debate surrounding the parameters used when determining the cost of equity with the CAPM. For example, the beta is often "degeared" in order to arrive at a pure asset beta, ...

2009, Canadian Transportation Research Forum, Proceedings of the ... Annual Conference, page 567:

To remove gearing, a simple weighted average cost of capital model is used: Rₚₜ= {Rₑₜ - (1 - P/Eₜ) R_(dt)}/(P/Eₜ) where Rₚₜ, is the degeared return to the property portfolio; Rₑₜ is the observed equity return; R_(dt) is the return on debt (taken as the long bond yield); and P/Eₜ is the value of the property portfolio as a ratio of shareholder equity.

2012, Michael Ball, Colin Lizieri, Bryan MacGregor, The Economics of Commercial Property Markets, →ISBN, page 321:

(accounting) To calculate the net value of assets after removing both debt and the projected cost of interest on borrowed capital.


windbill

He would have got a bank-credit, manoeuvred with windbills, dashed out upon a large scale, and soon have seen his crop and stock sequestered by the Sheriff'; but in those days a man could not ruin himself so easily.

How frequently do we find persons establishing an extensive business on credit when they have no funds of their own; using windbills and sometimes forgeries; furnishing elegant houses with money which is not their own; living in luxury and splendour; dashing along in gigs and landaus; ...

1854, Thomas Dick, LL.D., An Essay on the Sin and Evils of Covetousness:

But then culpa tenet suos auctores, and that would bring the case to this question, had the master authority from the owner to grant this windbill of lading?

1903, Norman Macpherson, Sir John Rankine, The Scots Revised Reports: Court of Session, Third Series, page 981:

(finance, slang) A signed agreement to act as guarantor for another's debt.


pooled fund

(finance) A group of investment funds that are aggregated.

fondo agregado

Investment funds that are aggregated together


wash sale

(finance) The sale of a security at a loss, and repurchase of the same or substantially identical security shortly before or after; used in tax evasion.


DRIP

dividend reinvestment plan
dividend reinvestment plan#English

dividend reinvestment program
dividend reinvestment program#English

(finance) Acronym of dividend reinvestment plan or dividend reinvestment program.