Threadneedle Street

Corruption of "three needle", from the arms of the Needle-makers' Company. Influenced by threading a needle.

George, known as Steady Eddie during his 10 years in charge at Threadneedle Street, said critics who attacked the Financial Services Authority were also wide of the mark.

2008 March 6, “Eddie George defends role of FSA in Northern Rock crisis”, in The Guardian:

Monetary policy may not be perfect, but it has been far better handled since the responsibility for it moved from 11 Downing Street to Threadneedle Street.

2007 December 11, Patrick Hosking, “Gieve’s head will not be enough to appease critics”, in The Times:

The Bank of England cut 0.25 per cent at each meeting - the same decision, spread over two months. Strip out that and Frankfurt and Threadneedle Street have been running the same policy for a year and a half.

2002 November 10, Faisal Islam, “Doing the Continental”, in The Observer:

(British, economics, banking, finance) The Bank of England.


TRS

total return swap
total return swap#English

(finance) Initialism of total return swap.


stiver

From Dutch stuiver, cognate with Middle Low German stüver.

(historical, money) A small Dutch coin worth one twentieth of a guilder.


EVA

en-noun

EVA (countable and uncountable, plural EVAs)

economic value added
economic value added#English

(finance) Initialism of economic value added.


RORO

RORO (countable and uncountable, plural ROROs)

(finance) Risk-on, risk-off, a sharp distinction between market conditions dominated and not dominated by risk or volatility pricing of securities.


footing

footing (countable and uncountable, plural footings)

From Middle English fotyng; equivalent to foot + -ing.

(accounting) A double-check of the numbers vertically.


LIBOR

London Interbank Offered Rate
w:London Interbank Offered Rate

(finance) Acronym of London Interbank Offered Rate (loan interest rate)


pathfinder prospectus

pathfinder prospectus (plural pathfinder prospectuses)

(finance) A preliminary prospectus, relating to a proposed company flotation, that does not state the expected price of shares.


negative equity

negative equity (countable and uncountable, plural negative equities)

(finance) The amount by which the market value of a property falls below the amount of the mortgage secured upon it.

(finance) The situation in which a property is worth less than its mortgage.


run rate

(accounting) Alternative form of runrate


mixer

→ Dutch: mixer

→ French: mixer

→ Polish: mikser

→ Romanian: mixer

desc

→ Russian: ми́ксер (míkser), ми́кшер (míkšer)

→ Turkish: mikser, mixer


EMI

en-noun

EMI (countable and uncountable, plural EMIs)

Electronic Money Institution
w:Electronic Money Institution

(finance, European Union) Initialism of Electronic Money Institution.


percentage rate

percentage rate (plural percentage rates)

(finance, mathematics) A coefficient, expressed as a fraction of 100, of the quotient of two numbers over a specified period of time, where the denominator has the same units as the numerator but is adjusted by a unit of time. This measure indicates the proportion of a part in relation to a whole and is commonly used to describe rates of interest, growth, or change in financial and economic contexts, expressed in percentage points.


bellwether

From Middle English belwether, belleweder, equivalent to bell + wether (“castrated ram”).

One of my favorite sentiment indicators is bellwether stocks — key stocks that are leaders in their fields. When investors buy or sell these shares, it's usually a good sign of confidence or the lack of it in that sector of the market and sometimes even the economy.

2009, Joe Duarte, Market Timing For Dummies, John Wiley & Sons, →ISBN, page 120:

(figuratively) Anything that indicates future trends.

(finance, figuratively) A stock or bond that is widely believed to be an indicator of the overall market's condition.

trendsetter

a stock or bond that is widely believed to be an indicator of the overall market's condition


government issue

government issue (countable and uncountable, plural government issues)

(countable, finance) A group of securities with the same maturity, interest rate, and terms and conditions issued by a government.


rollover

rollover (countable and uncountable, plural rollovers)

LL-Q1860 (eng)-Flame, not lame-rollover.wav

(finance) The reinvestment of funds in a new issue of the same or similar investment.

jälleenrahoitus

finance: the reinvestment of funds in a new issue of the same or similar investment

(finance) A fee paid by a borrower in order to defer full repayment of a loan.

uusimismaksu

finance: a fee paid by a borrower in order to defer full repayment of a loan


Greeks

(finance) The quantities representing the sensitivity of the price of derivatives to a change in underlying parameters on which the value of an instrument or portfolio is dependent (so called because some are denoted by Greek letters).

delta

first-order measures of derivative price sensitivity

charm

second-order measures of derivative price sensitivity

color

third-order measures of derivative price sensitivity

correlation delta

measures of multi-asset derivative price sensitivity


CBBC

callable bull/bear contract
callable bull/bear contract#English

(finance) Initialism of callable bull/bear contract, a type of exotic derivatives contract.


IS

implementation shortfall
implementation shortfall#English

(finance) Initialism of implementation shortfall.


speed bump

(finance, high-frequency trading) Any technical measure taken by an electronic financial exchange to deliberately delay orders by microseconds or milliseconds.


consolidated

(finance) Including financial data of the parent and all subsidiary companies.

консолидиран

including financial data of the parent and all subsidiary companies


SSI

SSI (countable and uncountable, plural SSIs)

standard settlement instruction
standard settlement instruction#English

(finance) Initialism of standard settlement instruction.


bookkeeper

(accounting) A person responsible for keeping records or documents, such as of a business.


solvency

solvency (usually uncountable, plural solvencies)

This is often phrased in terms of whether they are facing liquidity or solvency problems; but I think it’s better phrased in terms of the possibility of self-fulfilling crises, a la Obstfeld.

2011 July 8, Paul Krugman, “A Self-Fulfilling Euro Crisis? (Wonkish)”, in The New York Times:

(finance) The state of having enough funds or liquid assets to pay all of one's debts; the state of being solvent.


assented

(finance) Of stocks or bonds: whose holders agree to deposit them by way of assent to an agreement altering their status, as in a readjustment.


airdrop

But Facebook is also likely to carry out what’s known in cryptocurrency circles as an “air drop”, handing out small amounts of currency for free in an effort to kickstart the ecosystem.

[2019 June 18, Kari Paul, “What is Libra? All you need to know about Facebook's new cryptocurrency”, in The Guardian:

(cryptocurrencies) The distribution of free tokens to help bootstrap a new cryptocurrency.


airdrop

en-verb

airdrop (third-person singular simple present airdrops, present participle airdropping, simple past and past participle airdropped)

airdrops (present singular third-person)
airdropping (participle present)
airdropped (participle past)
airdropped (past)

(cryptocurrencies) To distribute free tokens to help bootstrap a new cryptocurrency.


bazooka

→ Arabic: بازوكة (bāzūka)

→ Chinese: 巴祖卡 (bāzǔkǎ)

→ French: bazooka

→ Dutch: bazooka

→ Finnish: bazooka

→ German: Bazooka

→ Indonesian: bazoka

→ Japanese: バズーカ (bazūka)

→ Korean: 바주카 (bajuka)

→ Macedonian: базука (bazuka)

→ Maranao: basoka

→ Polish: bazooka

→ Portuguese: bazuca

→ Romanian: bazooka

→ Spanish: bazuca

→ Swedish: bazooka

Bazooka (disambiguation)
Bob Burns (humorist)
European debt crisis

From an extension of the word bazoo (“mouth, boastful talk”), which ultimately probably stems from Dutch bazuin (“trumpet”). In the finance sense first used by policymakers during the European debt crisis (2010).

Suppose the EFSF buys some bonds. That will push down yields for awhile.^([sic]) But what happens when the money starts to run out? Yields will go back up. A firebreak/firewall/bazooka needs unlimited funds to work.

2012 June 21, Matthew O'Brien, “Why the Euro Crisis Will Never End in 1 Chart”, in The Atlantic:

“I don’t think [policymakers]^([sic]) realise it’s not enough,” said a veteran fixed-income investor in Hong Kong. “You need some big bazooka action to improve sentiment as a whole.”

2022 August 24, Thomas Hale, Cheng Leng, Hudson Lockett, “Investors price in $130bn loss on China developers’ dollar bonds”, in Financial Times:

(finance slang) A large rescue or stimulus package.


CRM

en-noun

CRM (countable and uncountable, plural CRMs)

(business, finance) Initialism of credit risk management.


CRM

(finance) Initialism of Contingent Reimbursement Model.


POC

POC (countable and uncountable, plural POCs)

percentage of completion
w:percentage-of-completion method

(accounting) Initialism of percentage of completion.


MSB

money services business
w:money services business

(finance) Initialism of money services business.


underfoot

en-verb

underfoot (third-person singular simple present underfoots, present participle underfooting, simple past and past participle underfooted)

underfoots (present singular third-person)
underfooting (participle present)
underfooted (participle past)
underfooted (past)

From Middle English underfoote, underfote, equivalent to under- + foot. Cognate with Middle Dutch ondervoet (“underfoot”). Compare also Middle Low German undervôt (“pedestal, base”).

cog

Another device is to underfoot the accounts receivable column and the net cash column in the record of cash receipts and to underfoot the debit or overfoot the credit side of one or more accounts in the customer's ledger by equal amounts.

1932, Frank Hatch Streightoff, Advanced Accounting, page 140:

Stay away from the client or taxpayer who conceals, pads, overstates or understates, alters, duplicates, overfoots or underfoots, diverts, manipulates, omits, falsifies and flagrantly disregards the IRS regulations.

In manually balancing the cash receipts journal prior to posting to the ledgers, it is quite possible to underfoot or overfoot columns deliberately in order to manipulate the account records to cover cash shortages.

1983, Accounting and information systems: instructor's manual, →ISBN, page 258:

(accounting) To assign a column summary that is less than the sum of all the entries in that column.


ex ante

Borrowed from Latin ex ante (“before the event”).


buffer

Agent noun from obsolete verb buff (“make a dull sound when struck”) (mid-16c.), from Old French buffe (“blow”).
The “boatswain's mate” sense is said to be popularly explained by the mate being a “buffer”, that is intermediary, between officers and men, but various other explanations have also been proposed.

bufro

anything used to isolate or to minimise the effects of one thing on another

I keep a savings buffer of three months' worth of living expenses.

Anything used to isolate or minimize the effect of one thing on another.

(finance) A reserve of funds set aside for use only when adverse circumstances prevail.


NIC

Despite propelling the tax burden to its highest peacetime level – through a combination of next April’s national insurance contributions (NICs) increase and a sharp rise in corporation tax due to take effect in 2023 – the chancellor painted himself as the champion of low taxes.

2021 October 27, Heather Stewart, “Johnsonism wins budget battle but will Sunakism win the war?”, in The Guardian:

national insurance
national insurance#English

(UK, finance) Acronym of national insurance contribution.


SDBA

self-directed brokerage account
self-directed brokerage account#English

(finance) Initialism of self-directed brokerage account.


nondeductible

(finance) That cannot be deducted for income tax purposes, and that tax has to be paid on.

vähennyskelvoton

that cannot be deducted for tax purposes


nondeductible

(finance) Any expense that cannot be deducted for income tax purposes.


EAP

en-noun

EAP (countable and uncountable, plural EAPs)

(finance) Initialism of Electronic Account Payment.


ASX

(Australia, finance) Initialism of Australian Stock Exchange.


Lombard rate

(finance) An interest rate charged by a central bank for very short-term loans to other banks against an approved collateral.


returned

en-adj

returned (comparative more returned, superlative most returned)

more returned (comparative)
most returned (superlative)

(finance) Yielded as a return on an investment etc.


tontine

From French tontine, named after Lorenzo de Tonti, who introduced the scheme into France in around 1653. Can be decomposed as Tonti + -ine.

When Joseph Finsbury and his brother Masterman were little lads in white-frilled trousers, their father—a well-to-do merchant in Cheapside—caused them to join a small but rich tontine of seven-and-thirty lives.

1889, Robert Louis Stevenson, Lloyd Osbourne, chapter 1, in The Wrong Box:

There were many speculative schemes which gambled on the expectation of an individual's life, as in the tontine system, whereby all the group's contributions went to the last survivor.

1971, Keith Thomas, Religion and the Decline of Magic, Folio Society, published 2012, page 634:

They were pleasantly high, but in an almost self-conscious way, as if they were members of a tontine blessed by the unexpected death of two or three of its members.

2000, JG Ballard, Super-Cannes, Fourth Estate, published 2011, page 237:

(finance, insurance) A form of investment in which, on the death of an investor, his share is divided amongst the other investors.


creditor

From Middle English creditour, from Anglo-Norman creditour, from Latin crēditor, from crēditum (“loan”), from crēditus, perfect passive participle of crēdō (“lend”).

(finance) A person to whom a debt is owed.


limited liability

en-noun

limited liability (countable and uncountable, plural limited liabilities)

(finance) The liability of an owner or a partner of a company for no more capital than they have invested.


NI

(UK, finance) Acronym of national insurance.


flotation

flotation (countable and uncountable, plural flotations)

(British, finance) The launching onto the market of a tranche of stocks or shares, usually a new issue.


SOC

System and Organization Controls
w:System and Organization Controls

(accounting) Initialism of System and Organization Controls.


EVM

(cryptocurrencies) Initialism of Ethereum virtual machine.


contrarian

However, to succeed as a contrarian, you have to be able to time trades in exactly the opposite direction of the majority. This means you have to move in when everyone else is fearful, and step back when everyone else is euphoric.

2010 December 17, Michael C. Thomsett, Getting Started in Stock Investing and Trading, John Wiley & Sons, →ISBN, page 174:

(finance) A financial investor who tends to have an opinion of market trends at variance with most others.


funded

en-adj

funded (comparative more funded, superlative most funded)

more funded (comparative)
most funded (superlative)

(finance) Invested in public funds; existing in the form of bonds.


recovery

en-noun

recovery (countable and uncountable, plural recoveries)

From Middle English recoveree, from Old French recovree, from recovrer (“recover”).


panic buying

panic buying (usually uncountable, plural panic buyings)

(business, finance) The buying of commodities or other assets earlier than normal, or in quantities greater than normal, because of rumours of coming shortages or price rises.

搶購 /抢购

buying of commodities earlier than normal


backwardation

backwardation (countable and uncountable, plural backwardations)

From backward + -ation (suffix denoting an action or process).

suffix

In full normal backwardation: the situation in a futures market where the price for future delivery of a commodity (the forward price) is lower than the price for immediate delivery (the spot price) or nearer delivery, generally arising from a near-term shortage of the commodity.

diporto

situation in a futures market where the price for future delivery of a commodity is lower than prices for immediate or nearer delivery

A situation in which short-term interest rates are higher than long-term interest rates.

The situation in a stock market where the offer price for stock is lower than the bid price.

myyntihinnan alemmuus ostohintaan verrattuna

(obsolete) In the London Stock Exchange: a fee paid by a seller on settlement day either to the buyer or to a third party who lends stock, when the seller wishes to defer settlement until the next settlement day.


compound interest

en-noun

compound interest (usually uncountable, plural compound interests)

[…] tens of thousands of other foot passengers have been slipping and sliding since the day broke (if this day ever broke), adding new deposits to the crust upon crust of mud, sticking at those points tenaciously to the pavement, and accumulating at compound interest.

1852 March – 1853 September, Charles Dickens, chapter 1, in Bleak House, London: Bradbury and Evans, […], published 1853, →OCLC:

Arithmetic books published during the fifteenth and first half of the sixteenth centuries have little to say about interest although the practice of calculating compound interest was old at that time.

2014 [1967], C. Attwood, Compound Interest Functions: Practical Tables Series, Elsevier, →ISBN, page 210:

(banking, finance) Interest, as on a loan or a bank account, that is calculated on the total on the principal plus accumulated unpaid interest.

အတိုးရင်းပွား

interest calculated on principal plus any unpaid interest


AUC

(finance) Initialism of assets under custody.


limit up

(finance) Condition where the price of the commodity has risen by the maximum daily amount permitted by the exchange.


limit down

Orange Juice - May & July fell to 5.00-cent limit DOWN ahead of Cold Storage report on 1/21. — Moore Research Center Inc 01/21/2004 https://web.archive.org/web/20051222001650/http://www.mrci.com/client/update.htm

(finance) Condition in which the market price of a commodity has fallen by the maximum daily amount permitted by the exchange.


quadruple witching

The idea of witching for these days is from the unusual patterns of trading that can occur ahead of the contract expiries.

(finance) Simultaneous expiry on US markets of stock index futures, stock index options, stock options, and single stock futures, which takes place on the third Friday of March, June, September, and December. (Prior to single stock futures those days were triple witching.)


triple witching

(finance) Simultaneous expiry on US markets of stock index futures, stock index options, and stock options, which took place on the third Friday of March, June, September, and December. (With the introduction of single stock futures those days are now quadruple witching.)


BD

BD (countable and uncountable, plural BDs)


close out

en-verb

close out (third-person singular simple present closes out, present participle closing out, simple past and past participle closed out)

closes out (present singular third-person)
closing out (participle present)
closed out (participle past)
closed out (past)

(finance) To make trades offsetting an existing position, leaving the trader with a neutral position.


margin call

In a liquidity crisis, as we have seen all too recently, a sudden tightening of credit sets off a vicious cycle of margin calls that lead to forced sales, which in turn cause asset prices to plunge, and so on.

2009 August 9, Mark Hulbert, “Buy and Hold, or Buy and Fold. But Don’t Waver.”, in The New York Times, New York, N.Y.: The New York Times Company, →ISSN, →OCLC, archived from the original on 2022-11-26:

(finance) A request by a stockbroker or similar for a client to deposit more money in order to cover losses that have built up in open positions held on margin (rather than having been paid for in full).


folio

From Middle English folio (“leaf of a book”), borrowed from Medieval Latin foliō, Late Latin foliō, Latin foliō, the ablative singular form of Late Latin folium (“leaf or sheet of paper”), Latin folium (“leaf of a plant”), ultimately from Proto-Indo-European *bʰleh₃- (“bloom, flower”). Doublet of foil and folium, and distantly related to phyllo and phyllon.
Senses 1, 2, 3.1, 5, and 6 relating to a leaf or page are derived from Medieval Latin foliō in references; sense 5 (“page in an account book”) may be derived from Italian foglio (“rectangular sheet of paper”), from Latin folium. Senses 3.2 and 3.3 relating to a paper size are from Italian in foglio or its etymon Latin in foliō.

der

In the leger,^([sic]) articles of the ſame kind are collected together; and, for that purpoſe, it is divided into many accounts, under which the different branches of buſineſs are arranged. Each account is introduced by a proper title, to explain the nature of the articles it contains; and articles of oppoſite kinds, which belong to the ſame account, are placed on the oppoſite pages of the ſame folio: for inſtance, money received on the one ſide, and money paid on the other; or goods bought on the one ſide, and goods ſold on the other.

1806, “Book-keeping”, in The New and Complete American Encyclopædia: or, Universal Dictionary of Arts and Sciences; … In Seven Volumes, volume II, New York, N.Y.: Printed and published by John Low, No. 33, Chatham-Street, →OCLC, page 152:

(accounting) A page in an account book; sometimes, two opposite pages bearing the same serial number.


speculate

en-verb

speculate (third-person singular simple present speculates, present participle speculating, simple past and past participle speculated)

speculates (present singular third-person)
speculating (participle present)
speculated (participle past)
speculated (past)

Borrowed from Latin speculātus, past participle of speculor (“look out”), from specula (“watchtower”), from speciō (“look at”).

Some preliminary legal arrangements were made, but the scheme proceeded no further, as the various local authorities concerned were unwilling to speculate public funds on what was, even at that date, a will o' the wisp.

1951 May, R. K. Kirkland, “The Cavan & Leitrim Railway”, in Railway Magazine, page 345:

(intransitive, business, finance) To make a risky trade in the hope of making a profit; to venture or gamble.


crypto

en-noun

crypto (countable and uncountable, plural cryptos)

Nigeria—the world's second-largest Bitcoin market after the United States—has banned the trading of cryptocurrencies. It's triggered anger among Nigerians who see cryptos as a safe haven in a battered economy.

2021 February 12, Fred Muvunyi, “Nigeria's cryptocurrency crackdown causes confusion”, in Deutsche Welle News, Deutsche Welle, archived from the original on 2021-02-13, World:

Some Turks have turned to crypto as a way to protect their savings from skyrocketing inflation and the weakening of its currency, the lira.

2021 April 26, Ryan Browne, “A second bitcoin exchange collapses in Turkey amid crackdown on cryptocurrencies”, in CNBC, retrieved 2021-04-26:

But to state and federal regulators and some members of Congress, the entry of crypto into banking is cause for alarm.

2021 September 5, Eric Lipton, Ephrat Livni, “Crypto’s Rapid Move Into Banking Elicits Alarm in Washington”, in The New York Times, →ISSN:

(informal, cryptocurrencies) Clipping of cryptocurrency.


earnings

(finance) Gains on investments; returns.


in the money

(finance) For an option, having a strike price which makes it profitable to exercise. For a call this is a strike below the market price, or for a put a strike above the market price.


operating loss

operating loss (plural operating losses)


bucket shop

(finance, derogatory, obsolete) A stockbroking firm which takes small orders from clients and takes them on its own account rather than actually transmitting them to the market. Prevalent in the US 1870s to 1920s; often set up as shop-fronts in the 1920s.

(derogatory, finance) A stockbroking firm which sells stock to clients when it has an undisclosed relationship with that company or its owners.


strangle

From Middle English stranglen, from Old French estrangler, from Latin strangulō, strangulāre, from Ancient Greek στραγγαλόομαι (strangalóomai, “to be strangled”), from στραγγάλη (strangálē, “a halter”); compare στραγγός (strangós, “twisted”) and string. Displaced Middle English wirien, awurien (“to strangle”) (> English worry).

der

στραγγαλόομαι

(finance) A trading strategy using options, constructed through taking equal positions in a put and a call with different strike prices, such that there is a payoff if the underlying asset's value moves beyond the range of the two strike prices.


front running

The charges stem from an investigation into the front-running of block trades . . . a practice in which a trader takes a position to capitalize on advance knowledge of a transaction large enough to influence the price of securities.

2012 October 1, Ben Moshinsky, “Four Charged for in U.K. FSA Insider-Trading Probe”, in Business Week, retrieved 2014-05-19:

(finance) The illegal practice of a stockbroker who, on receiving a large client order, places an order for his or her own account ahead of the client's, knowing that when the client's order is placed it will move the market and create a profit for the broker.

(finance) The illegal practice of placing orders for a security on one's own account in advance of promoting or recommending it.


distressed

en-adj

distressed (comparative more distressed, superlative most distressed)

more distressed (comparative)
most distressed (superlative)

LL-Q1860 (eng)-Flame, not lame-distressed.wav

distressed debt

Funds that buy “distressed” debt, which typically yields ten percentage points or more over Treasuries, are becoming familiar villains.

2019 November 7, “Distressed debt funds are waiting for a downturn”, in The Economist, →ISSN:

Sam Zell called himself “the Grave Dancer”, even though, as he explained, his penchant for buying distressed assets “wasn’t so much dancing on graves as …raising the dead”.

2023 May 25, “What properties would Sam Zell invest in next?”, in The Economist, →ISSN:

One multibillion-dollar firm that specialises in distressed debt called X's debt “uninvestable”.

2023 December 16, “Musk told lenders they would not lose money on Twitter deal”, in FT Weekend, Companies & Markets, page 10:

(finance, of securities) Experiencing financial or operational distress, default, or bankruptcy.


voting

The cumulative voting preferred stock remains voting until all cumulative dividends are paid.

(finance) Having an associated right for the holder to vote as an owner of business.


drip

(finance) A dividend reinvestment program; a type of financial investing.


top line

From the usual presentation of this information as a line at the top of an income statement.


blind pool

A Manhattan-based lawyer who is an expert in "blind pool" stock issues--those with a prospectus that says we don't know what we'll do with your money--notes that one of the better tactics is pinpointing specific groups for the sales pitch.

1985, Richard L. Stern, Lisa Gubernic, “The Smarter They Are, The Harder They Fall”, in Forbes, archived from the original on 2005-09-10, 05.20.85:

(finance) Collective investment (such as a company or syndicate) where the investors have little or no idea what is being done.


over-the-counter

over-the-counter trade, over-the-counter market

This is "commencement week" in "over-the-counter insurance" circles, the Whitman, Mass., savings bank having opened the ball with four applications made for $300 each by three prominent business men […]

1908, The Standard, volume 62, page 553:

(finance) Involving direct interaction between two parties without an intermediary, and denoting any market where items such as stocks or currency are bought and sold by direct arrangement between counterparties, or through a private broker, rather than on a public stock exchange or other exchange.

場外 /场外

involving direct interaction between two parties without an intermediary


chunky

chunky (comparative chunkier or more chunky, superlative chunkiest or most chunky)

chunkier (comparative)
more chunky (comparative)
chunkiest (superlative)
most chunky (superlative)

things where a bank can accumulate a fairly chunky position because of perceived profit opportunities, then wind up owning far more than would seem prudent because they haven't priced in the illiquidity

2004, Erik Banks, The Failure of Wall Street, page 183:


earmark

en-verb

earmark (third-person singular simple present earmarks, present participle earmarking, simple past and past participle earmarked)

earmarks (present singular third-person)
earmarking (participle present)
earmarked (participle past)
earmarked (past)

слагам настрана

to specify or set aside for a particular purpose

(transitive, by extension) To specify or set aside for a particular purpose, to allocate.

(transitive, finance, UK) To designate part of a pension to be payable to the holder's former spouse or partner at its time of payment.


swaption

(finance) An instrument granting the owner an option to enter an interest rate swap.

swaption

(finance) More generally, an option on any type of swap.


caplet

From cap (“upper limit or ceiling”) + -let (diminutive suffix).

suffix

(finance) A component of an interest rate cap, a derivative instrument that effectively prevents the interest payments on an otherwise variable-rate loan from exceeding an agreed level (the "cap"). Each "caplet", analysable as a call option, covers one interest accrual period (such as three months); the whole interest rate cap is made up of a series of consecutive caplets.


vega

en-noun

vega (countable and uncountable, plural vegas)

An invented word perhaps chosen to begin with "v" (for "volatility") and to sound as if it could be a Greek letter (like the related parameters "delta", "gamma" etc.)

(finance) A measurement of the sensitivity of the value of an option to changes in the implied volatility of the price of the underlying asset.


odd lot

(finance) A block of shares of stock that is not a multiple of some number, usually 100.


round lot

(finance) A block of shares of stock that is a multiple of some number, usually 100.


dr

dr (countable and uncountable, plural drs)

(accounting) Abbreviation of debtor, debit


prepayment

(accounting) An asset recognized in respect an expense incurred in a period for which the benefit will be received in a future period.


tailgate

en-verb

tailgate (third-person singular simple present tailgates, present participle tailgating, simple past and past participle tailgated)

tailgates (present singular third-person)
tailgating (participle present)
tailgated (participle past)
tailgated (past)

Coordinate term: front run

(finance, of a broker) To privately purchase or sell a security immediately after trading in the same security for a client.


STR

en-noun

STR (countable and uncountable, plural STRs)

(finance) Initialism of suspicious transaction report.


DSO

days sales outstanding
days sales outstanding#English

(accounting) Initialism of days sales outstanding.


sundries

1905, William Mott Steuart (United States Bureau of the Census), Special Reports: Mines and quarries 1902, page 476,
Miscellaheous expenses,—This item includes rent and royalties of all descriptions, “taxes, insurance, interest, advertising, office supplies, law expenses, injuries and damages, telegraph and telephone service, gas, and all other sundries not reported elsewhere.”

1910, William Mott Steuart, Thomas Commerford Martin (United States Bureau of the Census), Street and Electric Railways 1907, page 181,
In 1902 franchise values were largely carried as sundries, but it is a very common practice to charge these values to cost of construction and equipment.

Any payment listed in the Sundries column must be posted individually to the appropriate ledger account.

2009, Neville Box, VCE Accounting Units 3 & 4, 4th edition, unnumbered page:

The petty cash book classifies payments as petrol and oils, postage, office, sundries and GST paid.

2011, Robert Rodgers, Peter Lucas, Bookkeeping and Accounting Essentials, page 105:

(accounting) A category in accounting records for irregular or miscellaneous items not otherwise classified.


foreign currency

foreign currency (countable and uncountable, plural foreign currencies)

(banking, finance) Any currency that is in use in a foreign nation, and an authorized medium of circulation and the basis for record-keeping in that nation.


riba

(Islam, finance) interest or usury, which is haram (sinful) according to sharia law.


open outcry

(business, finance) A trading method whereby traders gather in person, often in a pit, and call out to all their desire to buy or sell a quantity at a given price, transactions being consummated when two parties can agree on a price. Most frequently used in securities markets.


zero coupon bond

zero coupon bond (plural zero coupon bonds)

(finance) A bond (e.g., corporate debenture or government debt) that has no coupon (i.e., pays no interest), during the life of the issue. Such a bond is initially sold at a discount to its face value. The rate of return to the holder is derived from the gradual appreciation as the security moves toward maturity.


junk bond

(finance) A bond (an instrument of debt) which is considered below "investment grade" due to a significant risk of default by the issuer. The interest rate is higher in order to compensate holders for that risk.

垃圾債券 /垃圾债券

a bond which is considered below investment grade


portfolio

desc

→ Portuguese: portfólio, portfolio, portefólio (Portugal)

/pɔːtˈfəʊ.liˌəʊ/

From Italian portafoglio; cognate with French portefeuille (“folder, wallet”), from Latin portāre (“to carry”) and folium (“sheet”). The meaning "collection of responsibilities" came by extension in the 1930s.

Private-equity nabobs bristle at being dubbed mere financiers.[…]Much of their pleading is public-relations bluster. Clever financial ploys are what have made billionaires of the industry’s veterans. “Operational improvement” in a portfolio company has often meant little more than promising colossal bonuses to sitting chief executives if they meet ambitious growth targets. That model is still prevalent today.

2013 June 22, “Engineers of a different kind”, in The Economist, volume 407, number 8841, page 70:

(finance) The group of investments and other assets held by an investor.


throwback

en-noun

throwback (countable and uncountable, plural throwbacks)

Under the throwback rule, sales into a state where the taxpayer is not taxable are “thrown back” from the destination state to the origin state by adding the nontaxable sales to the numerator in the apportionment factor.

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:

Attributing the gross receipts to the Member State of origin (i.e. applying a throwback rule) constitutes a benefit for that state that is not justified by the rationale of the gross receipts factor.

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 taxing such income in the originating state for a given transaction.


time note

(finance) A promissory note that specifies a date (or dates) when repayment must be made.


overbought

LL-Q1860 (eng)-Flame, not lame-overbought.wav

(finance) Of a stock or commodity market condition: where there has been significant trading bidding up prices to higher levels, levels which seem overextended or excessive on a short-term basis.


oversold

(finance) In a stock or commodity market condition where there has been significant trading driving prices down to lower levels, levels which seem overextended or excessive on a short-term basis.


AMGN

(stock ticker symbol) Initialism of Amgen.


technical analysis

technical analysis (countable and uncountable, plural technical analyses)

(finance) A stock or commodity market analysis technique which examines only market action such as prices, trading volume and open interest.


AZN

(stock ticker symbol) Abbreviation of AstraZeneca.


open interest

(finance) The total number of contracts outstanding between market participants in a market for futures, options, or other derivatives.


debenture

Originally debentur, from Latin debentur (“there are owing”), supposedly the first word of such a document in early times.

(finance, US) A type of debt instrument secured only by the general credit or promise to pay of the issuer, not involving any physical assets or collateral, now commonly issued by large, well established corporations with adequate credit ratings.

debentuuri

finance: type of debt instrument secured only by the general credit of the issuer

That the young Mr. Churchills liked—but they did not like him coming round of an evening and drinking weak whisky-and-water while he held forth on railway debentures and corporation loans. Mr. Barrett, however, by fawning and flattery, seemed to be able to make not only Mrs. Churchill but everyone else do what he desired.

1918, W[illiam] B[abington] Maxwell, chapter II, in The Mirror and the Lamp, Indianapolis, Ind.: The Bobbs-Merrill Company, →OCLC:

(finance, UK) A document granting lenders a charge over a borrower’s physical assets, giving them a means to collect a debt, as part of a secured loan.

katettu joukkovelkakirja

finance: document granting lenders a charge over a borrower’s physical assets, as part of a secured loan


over the counter

(finance) Through direct trade; outside a standard stock exchange.


DM

DM (countable and uncountable, plural DMs)


uptick

(finance) A stock market transaction or quote at a price above a preceding one.


checking

checking (countable and uncountable, plural checkings)

Withdraw $5000 from checking and put it into savings.

(countable, finance, informal) A checking account.


demand note

(finance) A note that normally has no date for repayment, but is due on demand of the lender. Usually the lender will only give the borrower a few days notice before the payment is due.


fives

Look what the funds were on the 1st of March—what the French fives were when I bought for the count. And what they're at now.

1847 January – 1848 July, William Makepeace Thackeray, Vanity Fair […], London: Bradbury and Evans […], published 1848, →OCLC:

(finance, archaic) Shares at a rate of five percent.


notional

en-adj

notional (comparative more notional, superlative most notional)

more notional (comparative)
most notional (superlative)

Gold traded at $909.00 an ounce, up 0.2 percent from New York's notional close of $906.65 on Wednesday.

2009 March 11, “Gold inches up on bargain hunt, ETF hits record”, in Ninemsn:

Under the agreements, Harvard paid the banks fixed interest rates on a total notional amount of $3.52 billion in exchange for floating-rate payments from them.

2009 March 3, “Harvard Accepts Higher Debt Costs as Bankers Profit”, in Bloomberg:

(finance) Used to indicate an estimate or a reference amount


contingency

en-noun

contingency (countable and uncountable, plural contingencies)

(finance, countable) An amount of money which a party to a contract has to pay to the other party (usually the supplier of a major project to the client) if he or she does not fulfill the contract according to the specification.

sopimussakko

amount of money that will be paid if a project does not succeed


lazy Susan

Uncertain, but probably a generic name like Jane, in reference to the device replacing a servant at table. The earliest attestation is from c. 1903 in the Boston Journal, which credits a local carpenter named John Laurie as "the resuscitator of 'Lazy Susan'". Almost certainly not named in honor of the daughters of Thomas Jefferson or Edison who were both named Susan.

(finance) Synonym of round trip (“form of barter involving selling and buying back”)


CLM

CLM (countable and uncountable, plural CLMs)

(uncountable, finance) Initialism of credit limit management.


veta

As vega, with the "g" substituted with a "t" to represent 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.


liquid document

liquid document (plural liquid documents)

(finance) A document showing a liquidated sum of money, such a cheque or promissory note.


clearance

clearance (countable and uncountable, plural clearances)

(banking, finance) The settlement of transactions involving securities or means of payment such as checks by means of a clearing house.

клиринг

finance: processing of payments at a clearing house


convexity

convexity (countable and uncountable, plural convexities)

LL-Q1860 (eng)-Flame, not lame-convexity.wav

(finance) A measure of the curvature in the relationship between the prices and yields of bonds.


stockbroker

(finance) A person who buys and sells shares (stock) on a stock exchange on behalf of clients. May also provide investment advice and/or company information, depending on the level of service offered (or chosen by the client).


assets

assets pl (normally plural, singular asset)

From Anglo-Norman asetz, from Old French assez (“enough”). Originally singular, with the meaning "enough to meet liabilities"; later reanalyzed as a plural form.

His assets are much greater than his liabilities.

(finance) Any property or object of value that one possesses, usually considered as applicable to the payment of one's debts.

The assets must equal liabilities, otherwise there is an error in your balance sheet.

(accounting) The left side of a balance sheet.


leaseback

leaseback (countable and uncountable, plural leasebacks)

The operator has since sold ten locomotives […] which were subsequently sold on to GB Railfreight (which then sold them to Beacon Rail on a leaseback deal), as well as four to GBRf outright […].

2019 November 6, “Fleet news”, in Rail, page 30:

(finance) A property transaction where a party sells something, then leases it from the purchaser. The seller is released from tax, depreciation, and maintenance costs, and the buyer is guaranteed an income from the property.


internalize

en-verb

internalize (third-person singular simple present internalizes, present participle internalizing, simple past and past participle internalized)

tlb

(American spelling, Oxford British English)

internalizes (present singular third-person)
internalizing (participle present)
internalized (participle past)
internalized (past)

(finance) To transfer stocks between brokers within an organization, rather than through the exchange.


liabilities

(finance) An amount of money in a company that is owed to someone and has to be paid in the future, such as tax, debt, interest, and mortgage payments.

(accounting) The right side of a balance sheet.


insolvency

en-noun

insolvency (countable and uncountable, plural insolvencies)

The company faces insolvency.

(finance) The condition of being insolvent; the state or condition of a person who is insolvent; the condition of one who is unable to pay their debts as they fall due, or in the usual course of trade and business.


perpetuity

perpetuity (countable and uncountable, plural perpetuities)

From Middle English perpetuitee, perpetuite, perpetuyte, from Old French perpetüité, ultimately from Latin perpetuitās.

Perpetuity in the Encyclopædia Britannica (11th edition, 1911)

(countable, finance) An annuity in which the periodic payments begin on a fixed date and continue indefinitely.

пожизнена рента

an annuity in which the periodic payments begin on a fixed date and continue indefinitely


ledger

From Middle English liggere, ligger, leger (“large breviary; beam, plank; dweller, inhabitant”), from liggen, leggen, variants of līen (“to lie down; to bow, kneel, prostrate; to die; to be located (somewhere); to remain in place, stay”), from Old English liċġan (“to lie down; to be situated”), ultimately from Proto-Indo-European *legʰ- (“to lie down”). The word is cognate with Dutch legger (“daybook; layer”) (from leggen (“to lay”), liggen (“to lie down”)), and is related to English ledge, lie (“to be prostrate”).
The verb is derived from the noun.

refn

From the collection of the Museum der Alltagskultur (Museum of Everyday Culture) in Waldenbuch, Baden-Württemberg, Germany.

tilikirja

To be clear: there's only one ledger, but that ledger is not stored in any one central location. Rather, identical copies exist on every node—a copy on every computer.

2020, Sir John Hargrave, Evan Karnoupakis, Blockchain Success Stories, O'Reilly Media, →ISBN, page 19:

A book or other scheme for keeping accounting records.

(cryptocurrencies) A distributed ledger, a public financial transaction database, typically using a blockchain.

Coordinate term: journal

The Leger exhibits at one view the accounts with an individual, as it contains on the Dr. [debit] side whatever he has received, and on the Cr. [credit] side whatever he has paid. […] Let each account be posted from the Day Book in its proper place in the Leger. If a mistake be made, let it be corrected by an account in the Day Book, clearly stating the correction, and then let this account be posted in its proper place in the Leger, that no blot or erasure may disfigure its pages.

1822, Nicolas Pike, Chester Dewey, “Book Keeping”, in A New and Complete System of Arithmetick. Composed for the Use of Citizens of the United States, 4th edition, Troy, N.Y.: Printed and published by W[illia]m S. Parker, […], →OCLC, page 490:

He keeps a ledger or a debtor-and-creditor account between the Government and the Country, posts so much actual crime, corruption, and injustice against so much contingent advantage or sluggish prejudice, and at the bottom of the page brings in the balance of indignation and contempt, where it is due.

1825, William Hazlitt, “Mr. Brougham-Sir F. Burdett”, in The Spirit of the Age […] , London: Printed for Henry Colburn, […], →OCLC, pages 330–331:

(accounting) A collection of accounting entries consisting of credits and debits.


stopper

Cattle futures: spillover momentum plus evidence of a strong stopper (i.e., 96 loads demanded) should kick the opening higher.

(finance, slang) In the commodity futures market, someone who is long (owns) a futures contract and is demanding delivery because they want to take possession of the deliverable commodity.


corner the market

en-verb

corner the market (third-person singular simple present corners the market, present participle cornering the market, simple past and past participle cornered the market)

corners the market (present singular third-person)
cornering the market (participle present)
cornered the market (participle past)
cornered the market (past)

"Why, there ain't going to be any wheat left in Chicago by May! If I get in now and buy a long line of cash wheat, where are all these fellows who've sold short going to get it to deliver to me?" . . . Jadwin sprang forward, gripping the broker by the shoulder. "Sam," he shouted, ". . . we can corner the market!"

1903, Frank Norris, chapter 7, in The Pit:

(idiomatic, business, finance) To monopolize a resource or commodity, as with the intent of driving up prices.


liquidate

liquidate (third-person singular simple present liquidates, present participle liquidating, simple past and past participle liquidated)

liquidates (present singular third-person)
liquidating (participle present)
liquidated (participle past)
liquidated (past)

Learned borrowing from Late Latin liquidātus (“liquid; clear”, adjective) + English -ate (suffix forming verbs, and forming adjectives with the sense ‘characterized by [the specified things]’). Liquidātus is the perfect passive participle of liquidō (“to turn into a liquid, melt; to make clear”), from Latin liquidus (“fluid, liquid; clear, transparent”) + -ō (suffix forming regular first-conjugation verbs); while liquidus is from liqueō (“to be fluid or liquid; to be clear or transparent”) (ultimately from Proto-Indo-European *wleykʷ- (“to make wet; moist”)) + -idus (suffix meaning ‘tending to’ forming adjectives). By surface analysis, liquid (adjective) + -ate.
Sense 1.2.3 (“to kill; to abolish or eliminate”) is a semantic loan from Russian ликвиди́ровать (likvidírovatʹ); while sense 1.2.4 and sense 2 (business-related senses) were influenced by French liquider and Italian liquidare, all ultimately from Latin liquidus (see above).

affix

suffix forming verbs, and forming adjectives with the sense ‘characterized by 􂀿the specified things􂁀’

semantic loan

ликвиди́ровать

уреждам

(transitive) to settle the financial affairs of (a corporation, partnership, or other business) with the aim of ceasing operations; (intransitive) of a corporation, partnership, or other business: to settle financial affairs with the aim of ceasing operations; to go into liquidation — see also wind up

How far progress has been made in liquidating the locomotive stock of the old companies may be judged from the shrinkage in their numbers, by some 50 per cent. at the end of 1931, to about 35 per cent. in 1938.

1939 September, D. S. Barrie, “The Railways of South Wales”, in The Railway Magazine, London: Tothill Press, →ISSN, →OCLC, page 161:

Her only relative was a niece in Boston, who arranged for a local lawyer to liquidate Mrs. Garner’s property.

2016, Colson Whitehead, The Underground Railroad […], New York, N.Y.: Doubleday, →ISBN, page 46:

To convert (assets) into cash; to encash, to realize, to redeem.

liquidar

to convert (assets) into cash — see also encash, realize, redeem

The excess of the former amount over the latter constitutes of course a debt due by this Company to the banking company, the settlement of which has engaged the earnest attention of the Board. Their wish was to liquidate that amount by the proceeds of sales of property; but the unfavourable state of the colony has prevented their doing more than effecting a reduction of the debt by a payment to account.

1844 June 29, “Summary of the Eighth Report of the South Australian Company”, in The Colonial Gazette: A Weekly Journal, volume VI, number 292, London: William Holme […], →OCLC, page 413, column 2:

Defence could not be merely passive: assistance must be given to Mülhausen to liquidate outstanding debts, while Sigismund [Archduke of Austria] was open to receive offers, within the limits of the treaty of St. Omer, to redeem some or all of the territories he had pledged.

1952 July, E[dgar] Bonjour, H[ilary] S[eton] Offler, G[eorge] R[ichard] Potter, “The Heroic Age”, in A Short History of Switzerland, Oxford, Oxfordshire: Clarendon Press, published August 1952, →OCLC, page 126:

To settle (a debt) by paying the outstanding amount; to pay off.

изплащам

to settle (a debt) by paying the outstanding amount — see also pay off

ликвиди́ровать

задо́лженность

To settle the financial affairs of (a corporation, partnership, or other business) with the aim of ceasing operations, by determining liabilities, using assets to pay debts, and apportioning the remaining assets if any; to wind up.

COVID-19 hit the company hard—I foresee it will liquidate within a year.

A reverse triangular merger is the same as a triangular merger, except that the subsidiary created by the acquirer merges into the selling entity and then liquidates, leaving the selling entity as the surviving entity, and a subsidiary of the acquirer.

2017, Steven M. Bragg, “Mergers and Acquisitions”, in The CFO Guidebook, 3rd edition edition, Centennial, Colo.: Accounting Tools, →ISBN, page 125:

(intransitive, business, commercial law, finance) Of a corporation, partnership, or other business: to settle financial affairs with the aim of ceasing operations; to go into liquidation, to wind up.


political risk

(finance) Any financial or other risk that stems from the possibility of a nation changing its policies.


reimbursement

en-noun

reimbursement (countable and uncountable, plural reimbursements)

(business, management, accounting) The act of compensating someone for an expense.


fallen angel

(finance) A bond that has declined in value due to credit deterioration to become a junk bond.


straddle

As a verb, attested since the 1560s. Most likely, an alteration of dialectal striddle. The noun is first attested in the 1610s.

(finance) An investment strategy involving simultaneous trade with put and call options on the same security at the same strike price, giving a non-directional position sensitive to volatility.


banking

banking (countable and uncountable, plural bankings)

She became an analyst in banking after graduation, choosing that career path over sales and trading.


Elliott wave

(finance) A wave pattern used in some forms of technical analysis of securities prices.


installment

A 1732 alteration of estallment, from Anglo-Norman estaler (“fix payments”), from Old French estal (“fixed position”), from Old High German stal (“stall", "standing place”)
The sense of "part of a whole produced in advance of the rest" is from 1823.

der

(banking, finance) One member of a series of portions of a debt or sum of money, which portions may or may not be equated (depending in part on whether the interest rate is fixed or variable), payment of which portions are serially exacted at regularly scheduled intervals toward satisfaction of the total. Payments of installments are generally mensual, quarterly, triannual, biannual, or annual.


recapture

(finance) The retroactive collection of taxes that were not collectible at the time.


dilution

en-noun

dilution (countable and uncountable, plural dilutions)


low-doc loan

2006, The Bulletin, Issues 6536-6544, page 61,
“You can see it here in mortgages. Low-doc loans used to carry at least 1% or more of risk premium. As everybody [piled] in, that has been driven down to half a percent. These people do not have a verifiable income, and yet you can only expect them to be charged half a percent more on the interest rate.”

In a no-doc or low-doc loan, the lender doesn′t require you to bring proof of your income, but you will usually have to pay a higher interest rate or extra fees to get the loan. Lenders generally charge more for no-doc/low-doc loans.

2007, Barry Leonard, Consumer Handbook on Adjustable-Rate Mortgages, page 9:

This kind of “no-doc loan” and its cousin, the “low-doc loan,” became quite prevalent. By 2006, low-doc loans accounted for more than one-third of all subprime mortgage originations.

2011, Robert W. Kolb, The Financial Crisis of Our Time, page 56:

(US, Australia, banking, finance) A loan or mortgage where the borrower provides only limited proof of their income.


front runner

(finance, business) One who engages in front running.


TMT

(finance) Initialism of technology, media, and telecommunications.


liquidize

en-verb

liquidize (third-person singular simple present liquidizes, present participle liquidizing, simple past and past participle liquidized)

liquidizes (present singular third-person)
liquidizing (participle present)
liquidized (participle past)
liquidized (past)

The store needs to liquidize its stock so it can pay its creditors.

(business, finance) to convert assets into liquid (cash) form; to liquidate


susu

Possibly from West African Igbo isusu / esusu (“pooling the funds”) or Yoruba esúsú (“revolving loan fund”).

der

The informal credit sector has been very active in Ghana and covers a range of activities known as susu, including individual savings […]

2004, Mr. Rodolphe Blavy, Mr. Anupam Basu, Dr. Murat Â Yülek, Microfinance in Africa: Experience and Lessons From Selected African Countries, International Monetary Fund, →ISBN, page 9:

Irene empathized with her susu members as immigrants who were earning low wages in New York, but there appeared to be some socioeconomic advantages to being an organizer that she was not acknowledging.

2011, Tamara Mose Brown, Raising Brooklyn: Nannies, Childcare, and Caribbeans Creating Community, NYU Press, →ISBN, page 128:

(finance) An informal money pooling scheme practised in Africa, the Caribbean, and some immigrant communities.


liquidity

en-noun

liquidity (countable and uncountable, plural liquidities)

From liquid + -ity, from Latin liquiditas.

(finance) The degree of which something is in high supply and demand, making it easily convertible to cash.

This is often phrased in terms of whether they are facing liquidity or solvency problems; but I think it’s better phrased in terms of the possibility of self-fulfilling crises, a la Obstfeld.

2011 July 8, Paul Krugman, “A Self-Fulfilling Euro Crisis? (Wonkish)”, in The New York Times:

(finance) Availability of cash over short term: ability to service short-term debt.

իրացվելիություն

finance: availability of cash over short term


security market line

security market line (plural security market lines)

(finance) A line representing the relationship between expected return and systematic risk, thus a graphical representation of the CAPM. It is valid both for portfolios and individual assets.


goodwill

goodwill (usually uncountable, plural goodwills)

From Middle English *goodwille, good wille (“goodwill”), perhaps from Old English *gōdwille (“goodwill”); compare Old English gōdwillende (“well-pleased”); also Scots guidwilly, guidwillie (“displaying goodwill”), equivalent to good + will. Cognate with Scots guidwill (“goodwill”), Middle Low German gūtwille (“goodwill”), Old High German guotwilligi (“goodwill”), Old Danish godvilje (“goodwill”), Icelandic góðvilji, góðvili (“goodwill”), Icelandic góðvild (“goodness”). The sense "thrift shop" is a genericized trademark of a US chain of such shops.

cog

(accounting) The value of a business entity not directly attributable to its tangible assets and liabilities, deriving from factors such as consumer loyalty to the brand.

商譽 /商誉

accounting: the value of a business entity not directly attributable to its tangible assets and liabilities


rehypothecation

en-noun

rehypothecation (countable and uncountable, plural rehypothecations)

From rehypothecate + -ion, alternatively re- + hypothecation.

(finance) The pledge of hypothecated client-owned securities in a margin account to secure a bank loan; usually used for mortgages.


operating expense

operating expense (plural operating expenses)

(business, accounting) Any expense incurred in running a business, such as sales and administration, as opposed to production.

(business, accounting) The money an entity spends in order to turn inventory into throughput.


DIS

(stock ticker symbol) Walt Disney Company.


down payment

LL-Q1860 (eng)-Flame, not lame-down payment.wav

(law, finance) A payment representing a fraction of the price of something being purchased, made to secure the right to continue making payments towards that purchase.


pound the table

en-verb

pound the table (third-person singular simple present pounds the table, present participle pounding the table, simple past and past participle pounded the table)

pounds the table (present singular third-person)
pounding the table (participle present)
pounded the table (participle past)
pounded the table (past)


revolving

(finance) Relating to an account or line of credit where balances and credit roll over from one billing cycle to the next, such as a credit card.


stop loss order

en-noun

stop loss order (plural stop loss orders)

The shares are currently trading at $4.40 and he has issued a stop loss order to sell if they fall to $4.20.

(stock market) A conditional order placed with a stockbroker (or similar) to close one's position if the market drops (or rises in some cases) to a specified price level.


take out the stops

en-verb

take out the stops (third-person singular simple present takes out the stops, present participle taking out the stops, simple past took out the stops, past participle taken out the stops)

takes out the stops (present singular third-person)
taking out the stops (participle present)
took out the stops (past)
taken out the stops (participle past)

(finance) To carry out the supposed practice whereby locals (floor traders trading for their own account) buy or sell to push prices towards where they suspect stop loss orders lie, with a view to profiting from the resulting acceleration of the move when those orders hit the market.


arbitrage

en-noun

arbitrage (countable and uncountable, plural arbitrages)

/ˈɑɹbɪˌtɹɑʒ/

/ˈɑɹ.bɪ.tɹɪd͡ʒ/

Unadapted borrowing from French arbitrage, from arbitrer (“to arbitrate”); see arbitrate.

ubor

But in recent years, for reasons we shall develop later, the field of "arbitrages and workouts" became riskier and less profitable.

a. 1973, Benjamin Graham, The Intelligent Investor, HarperCollins, published 2003, page 174:

(finance) A market activity in which a security, commodity, currency or other tradable item is bought in one market and sold simultaneously in another, in order to profit from price differences between the markets.


arbitrage

en-verb

arbitrage (third-person singular simple present arbitrages, present participle arbitraging, simple past and past participle arbitraged)

arbitrages (present singular third-person)
arbitraging (participle present)
arbitraged (participle past)
arbitraged (past)

/ˈɑɹbɪˌtɹɑʒ/

/ˈɑɹ.bɪ.tɹɪd͡ʒ/

He has arbitraged by purchasing in one market and simultaneously selling the same or similar merchandise in another market.

1961, Maurece Schiller, Fortunes in Special Situations in the Stock Market, page iv:

(intransitive, finance) To employ arbitrage

Indeed, as banks become more adept at internal risk classifications, their incentives to arbitrage economic and regulatory capital can only increase

2001, Frederic S. Mishkin, Prudential Supervision: What Works and what Doesn't, page 98:

(transitive, finance) To engage in arbitrage in, between, or among


dematerialization

en-noun

dematerialization (countable and uncountable, plural dematerializations)

/diːməˌtɪəɹɪəlaɪˈzeɪʃən/

(finance, law) The substitution of paper-form securities by book-entry securities.


depletion

depletion (countable and uncountable, plural depletions)

Borrowed from Latin depletio, depletionem, from depleō.

stimulated emission depletion microscope

stimulated emission depletion microscopy

(accounting, mining, timber, petroleum) gradual expense or use of natural resources over time.


conventional mortgage loan

conventional mortgage loan (plural conventional mortgage loans)

(US, finance) A fixed- or adjustable-rate, fully amortized loan secured by a mortgage or deed of trust that is not insured or guaranteed by an agency of the federal government (such as FHA or VA). (Source: Office of Thrift Supervision https://web.archive.org/web/20060618191009/http://www.ots.treas.gov/glossary/gloss-c.html)


SDR

SDR (countable and uncountable, plural SDRs)

special drawing right
special drawing right#English

(finance) Initialism of special drawing right.


FCA

Financial Conduct Authority
w:Financial Conduct Authority

(British, finance) Abbreviation of Financial Conduct Authority.


recoverable

From Middle English recoverabille, recoverable, recovererabyll (error), equivalent to recover + -able.

(accounting) Amounts of reinsurance coverage that are due from a reinsurer.


redeemable

en-adj

redeemable (comparative more redeemable, superlative most redeemable)

more redeemable (comparative)
most redeemable (superlative)

a redeemable annuity

redeemable preferred stock

(finance) Capable of being paid off; subject to a right on the part of the debtor to discharge or of an issuer to repurchase

remboursable

(finance) capable of being paid off or repurchased


redeemable

financial instrument
financial instrument

(finance) A financial instrument that can be redeemed.


irredeemable

/ɪɹəˈdiːməbəl/

LL-Q1860 (eng)-Flame, not lame-irredeemable.wav

The subscribers to a new loan, who mean generally to sell their subscription as soon as possible, prefer greatly a perpetual annuity, redeemable by parliament, to an irredeemable annuity, for a long term of years, of only equal amount.

1776, Adam Smith, chapter 3, in The Wealth of Nations:

Investors have always had to trust somebody or something. . . . But they have not always had to make a leap of faith about a nation's irredeemable paper currency. Up until Aug. 15, 1971 the dollar was exchangeable into gold at the rate of $35 to the ounce.

2005 October 31, James Grant, “O Sage! O Confidence Man!”, in Forbes, retrieved 2010-08-17:

(finance, of debts, currency, etc.) Not able to be cancelled by a payment or converted to another form of currency or financial instrument, especially one considered more secure or reliable.


irredeemable

/ɪɹəˈdiːməbəl/

(finance) A financial instrument that cannot be freely redeemed.


balance sheet

Private-equity nabobs bristle at being dubbed mere financiers. Piling debt onto companies’ balance-sheets is only a small part of what leveraged buy-outs are about, they insist. Improving the workings of the businesses they take over is just as core to their calling, if not more so. Much of their pleading is public-relations bluster.

2013 June 22, “Engineers of a different kind”, in The Economist, volume 407, number 8841, page 70:

(accounting) A summary of a person's or organization's assets, liabilities and equity as of a specific date.

հաշվեկշիռ

summary of assets, liabilities and equity


joint-stock company

en-noun

joint-stock company (plural joint-stock companies)

合股公司

company with transferable ownership and unlimited shareholder liability

(business, finance, law, UK) A company with transferable ownership interests and limited shareholder liability.

shoqëri aksionare

company with transferable ownership and limited shareholder liability — see also public limited company

(business, finance, law, US) A company with transferable ownership interests and unlimited shareholder liability.


CAPEX

(business, finance) Abbreviation of capital expense.

capital expenditure
capital expenditure#English

(business, finance) Abbreviation of capital expenditure.


immobilize

en-verb

immobilize (third-person singular simple present immobilizes, present participle immobilizing, simple past and past participle immobilized)

immobilizes (present singular third-person)
immobilizing (participle present)
immobilized (participle past)
immobilized (past)

From French immobiliser, equivalent to immobile + -ize.

Don't immobilize your capital in aging accounts.

(finance) To tie up a capital: make a capital investment that makes that capital unavailable.


quant

Judy Mills: Oh, and I was very excited to hear about your agency's new emphasis on hard numbers and data.
Simon: Excuse me?
Judy Mills: Yeah, I heard you hired a quant.

2014 January 30, Simon Roberts Was Here (The Crazy Ones), episode 15:

quantitative analyst
quantitative analyst


net operating income

en-noun

net operating income (usually uncountable, plural net operating incomes)

(accounting) Income after deducting operating expenses but before deducting for income taxes, interest, and depreciation and amortization.


stockjobber

(chiefly British, trading) A stock exchange worker who deals only with brokers.

In this stock-jobbers’ heaven let us leave our dear countrymen for a little while, while I say a few words about the affairs of the people on the continent of Europe.

1888, William Morris, Signs of Change […] , London: Reeves and Turner, page 105:

(British, derogatory, trading) An unscrupulous stockbroker.


amortized

(business, finance) Of a debt or liability, wiped out gradually or in installments.


illiquid

en-adj

illiquid (comparative more illiquid, superlative most illiquid)

more illiquid (comparative)
most illiquid (superlative)

Investment in illiquid assets may prove to be a mistake if the market turns down.

Aside from the $5.5 billion, FTX also holds sizable positions in 20 digital assets that the lawyers described as “illiquid tokens” that are difficult to convert into cash.

2023 January 17, Matthew Goldstein, David Yaffe-Bellany, “In Hunt for FTX Assets, Lawyers Locate Billions in Cash and Crypto”, in The New York Times, →ISSN:

“While I was co-CEO and then CEO, I understood that Alameda had made numerous large illiquid venture investments and had lent money to Mr Bankman-Fried and other FTX executives,” Ellison said.

2023 September 30, Victoria Bekiempis, quoting Caroline Ellison, “‘Dark’ donations, free love and the fall: the Sam Bankman-Fried trial is here”, in The Guardian, →ISSN:

(finance) Lacking liquidity; unable to be converted into cash.


Goldman roll

Cattle futures settled lower as funds transferred some of their August long positions into October cattle futures on this day three of the five days of the Goldman Roll.

(finance, slang) The five-business day period (the 5th through 9th business day of the month proceeding the futures expiration month) when the Goldman Sachs Commodity Index is rolled forward (in 20% increments) into the next futures expiration month.


CFD

Contract for Difference
w:contract for difference

(finance) Initialism of Contract for Difference.


arbitrageur

/ˈɑː(ɹ)bɪtɹɑˈʒɝ(ɹ)/

Borrowed from French arbitrageur (compare arbitragiste).

(finance) One who engages in arbitrage, such as a financial broker or an investment bank.


redetermination

en-noun

redetermination (countable and uncountable, plural redeterminations)

(finance) The process of calculating again, or making a fiscal determination again.


omnium

From Latin omnium (literally “of all”), genitive plural of omnis (“all, every”).

When a loan is contracted , the prices of Omnium may be quoted for delivery of the receipts , and afterwards for money , and the next succeeding payment .

1855, Charles Fenn, Fenn's Compendium of the English and Foreign Funds, Debts and Revenues of All Nations, Banks, Railways, Mines, and the Principal Joint Stock Companies:

(finance) The aggregate value of the different stocks in which a loan to government is usually funded.


rangebound

(finance, of stocks and shares) Having a price constrained to lie between certain upper and lower limits.


whipsaw

en-verb

whipsaw (third-person singular simple present whipsaws, present participle whipsawing, simple past whipsawed, past participle whipsawn)

whipsaws (present singular third-person)
whipsawing (participle present)
whipsawed (past)
whipsawn (participle past)

(transitive, finance) To cause (a trader) to lose potential profit by buying shares just before the price falls, or by selling them just before the price rises.


work in progress

en-noun

work in progress (countable and uncountable, plural works in progress)

Work in progress has dramatically declined due to reduced production cycle times.

(uncountable, accounting) A portion of inventory that represents goods which are no longer salable as raw materials, but not yet salable as finished goods, work in process.


lapping

lapping (countable and uncountable, plural lappings)

From Middle English lapping, lappyng, lappinge, equivalent to lap + -ing.

(accounting) A form of fraud in which payments in the accounts are repeatedly delayed between periods, or diverted between customers, to conceal a theft.


jobber

An act to restrain the number and ill practice of brokers and stock jobbers: 8 & 9 Wm. 3, ch. 32 (1697) [legislation of English parliament

(obsolete, UK, finance) A promoter or broker of stocks for investment.

An intermediary who buys and sells merchandise.

(British, finance) A market maker on the stock exchange; a stockjobber.


cyclical

(finance, often in the plural) A stock of a cyclical company.


repossess

en-verb

repossess (third-person singular simple present repossesses, present participle repossessing, simple past and past participle repossessed)

repossesses (present singular third-person)
repossessing (participle present)
repossessed (participle past)
repossessed (past)

(law, finance) To reclaim ownership of property for which payment remains due.


aftermarket

(finance) Trading activity in a security immediately following its initial offering to the public.


accounts receivable

(accounting) The total monetary amount owed to a financial entity due to debts arising from sales on credit or on account.


grey market

(finance) The trading of shares before they are listed on the stock exchange.

margadh liath

the trading of shares before they are listed on the stock exchange


shunting

en-noun

shunting (countable and uncountable, plural shuntings)

(UK, finance) Arbitrage conducted between certain local markets without the necessity of the exchange involved in foreign arbitrage.


money order

1965, Commonwealth Bureau of Census and Statistics, Official Year Book of the Commonwealth of Australia No. 51 - 1965, page 589,
The issue of money orders and postal notes is regulated by sections 74-79 of the Post and Telegraph Act 1901—1961. The maximum amount for which a single money order payable within Australia may be obtained is £40, but additional orders will be issued upon request when larger amounts are to be remitted. The maximum amount permitted to be sent by any one person to a person or persons outside Australia is £A.10 a week. A postal note is not available for a sum larger than twenty shillings.

2007, Gary B. Magee, Andrew S. Thompson, ‘Migrapounds’: Remittance Flows Within the British World, c. 1875—1913, Kate Darian-Smith, Patricia Grimshaw, Stuart Macintyre (editors), Britishness Abroad: Transnational Movements and Imperial Cultures, page 47,
In the UK, a Money Order Office was formed in 1838, a separate and specialised department of the Royal Mail that had its origins in an officially sanctioned private business carried on from the late eighteenth century.⁹ […] By 1873, a reliable international money order service was in full operation between the United Kingdom and the majority of its colonies,¹⁰ as well as with a number of other countries, not least the USA.¹¹

I begin my discussion of payments with money orders and cashier′s checks because I think they′re just the greatest way to receive payment. Money orders and cashier′s checks are fast, cheap, and negotiable (just like cash).

2009, Marsha Collier, EBay Business All-in-One For Dummies, page 390:

(finance) A directive to pay a prespecified amount of money from prepaid funds, making it a more trusted method of payment than a check.


AIM

Coordinate term: Main Market

(UK, finance) AIM, the secondary stock market of the London Stock Exchange; formerly an initialism of Alternative Investment Market.


CLO

CLO (countable and uncountable, plural CLOs)

collateralized loan obligation
collateralized loan obligation#English

(finance) Initialism of collateralized loan obligation.


cash flow

cash flow (countable and uncountable, plural cash flows)

German: Cashflow

Finally, the complex and multi-dimensional character of any performance gap can be explored further by introducing cash flow per vehicle produced as a third performance measure; this series shows the limits of Japanolatry because, on this measure, average car companies in Japan as well as America have real problems.

1994, Karel Williams, Cars: Analysis, History, Cases, page 216:

(accounting) The sum of cash revenues and expenditures over a period of time.

(accounting) A statement of such transactions.


buyout

controlling interest
controlling interest

(finance) The acquisition of a controlling interest in a business or corporation by outright purchase or by purchase of a majority of issued shares of stock.


revolving loan

(finance) A type of loan that is secured against a property and allows the owner to borrow and repay money at leisure. Periodic payments of at least accumulated interest are required, but the loan is fully open: it may be paid out in whole or in part at any time and, if there is still money available under the loan ceiling, the borrower may take more money for his or her use.


tuck in

en-verb

tuck in (third-person singular simple present tucks in, present participle tucking in, simple past and past participle tucked in)

tucks in (present singular third-person)
tucking in (participle present)
tucked in (participle past)
tucked in (past)

LL-Q1860 (eng)-Flame, not lame-tuck in.wav


volatility

en-noun

volatility (countable and uncountable, plural volatilities)

The recent volatility has come with the S&P 500 hovering just above bear market territory, or a 20 percent drop from its most recent high.

2022 May 18, Coral Murphy Marcos, “Stocks resume their rout as falling profits reignite fears of inflation.”, in The New York Times, →ISSN:

(finance, countable) A quantification of the degree of uncertainty about the future price of a commodity, share, or other financial product.

volatilita

financial markets: quantification of the degree of uncertainty about the future price


fours

Coordinate term: fives

(finance, archaic) Shares at a rate of four percent.


automated clearing house

automated clearing house (plural automated clearing houses)

(finance) A nationwide electronic funds transfer system that provides for interbank clearing of electronic payments, such as credit-card transactions. An ACH transaction is an electronic fund transfer through the Federal Reserve Bank from a checking or savings account.


acquiring financial institution

acquiring financial institution (plural acquiring financial institutions)

acquiring financial institutions (plural)

(finance) An institution that contracts with the bank and the merchant to enable credit card transactions. The acquirer deposits the credit card totals and debits the end-of-month processing fees from the merchants' accounts.


actuals

This year's projections are above prior year actuals by five percent.

(accounting, project management) Documented historical results; things that have happened rather than things that are planned.

(finance) Physical commodities (physicals) or financial instruments which are traded in futures contracts.


fundamentals

Coordinate term: technicals

While this stock has been trading at a low P/E multiple lately, I think its fundamentals are sound, and consider it a good buy for long-term investors.

Fundamentals can be poor indicators of the future. Financial statements are backward-looking, meaning they tell you how a company did in the past, not necessarily how it will do in the future.

2009, Matthew Krantz, Fundamental Analysis For Dummies, John Wiley & Sons, →ISBN:

fundamental analysis
fundamental analysis

(finance) The fundamental analysis data.


restructure

en-verb

restructure (third-person singular simple present restructures, present participle restructuring, simple past and past participle restructured)

restructures (present singular third-person)
restructuring (participle present)
restructured (participle past)
restructured (past)

Valencia were in crisis, a club with two stadiums – one they could not sell and one that they could not afford to finish building – and a debt of €230m, the repayment of which was restructured.

2017 January 18, Sid Lowe, “Chaos at Mestalla: Valencia's journey from Champions League to utter disarray”, in the Guardian:

(finance) To modify the terms of a loan, providing relief to a debtor who would otherwise be forced to default.


refinance

refinance (third-person singular simple present refinances, present participle refinancing, simple past and past participle refinanced)

refinances (present singular third-person)
refinancing (participle present)
refinanced (participle past)
refinanced (past)


gilt-edged

(finance, of securities) Issued by the Bank of England.


bookkeeping

en-noun

bookkeeping (usually uncountable, plural bookkeepings)

(accounting) The skill or practice of keeping books or systematic records of financial transactions, e.g. income and expenses.

հաշվապահություն

skill of keeping records of financial transactions


arbitrager

From arbitrage + -er, after French arbitragiste.

(finance) One who participates in arbitrage.


gearing

gearing (countable and uncountable, plural gearings)

(finance) Synonym of leverage (“debt-to-equity ratio”)


dry powder

dry powder (countable and uncountable, plural dry powders)

The financial sense comes by metaphor from the sense of gunpowder kept dry to allow rapid loading of a firearm, as in the expression “keep one's powder dry”.

Private equity firms were sitting on more than $1 trillion in dry powder at the end of 2011.

(finance) Cash (or cash-like securities) kept in reserve in case of need.


franking

franking (countable and uncountable, plural frankings)

(Australia, finance, uncountable) A corporate tax system in which some or all of the tax paid by a company may be attributed, or imputed, to the shareholders by way of a tax credit to reduce the income tax payable on a distribution.


smurfing

(finance) A money laundering technique involving the break-up of large sums into smaller amounts, in order to fly under the regulatory radar.


scalping

(finance) A fraudulent form of market manipulation in which a person buys shares immediately before recommending the shares to others, thus driving the price up.

(finance) A legitimate method of arbitrage of small price gaps created by the bid-ask spread.


frictionless

(finance) Of a transaction or trade, without tariffs and non-tariff barriers.


credit-deposit ratio

credit-deposit ratio (plural credit-deposit ratios)

(India, finance) The proportion of loan-assets created by banks from the deposits received.


funding liquidity risk

(finance, business) The risk of not having access to sufficient funds to make a payment on time.


bookbuild

(finance) A float of shares where the final price is determined only after a bidding phase.


scalper

iemand die toegangskaarten meestal duur doorverkoopt

(finance) A person on an open outcry exchange trading floor who buys and sells rapidly for his or her own account, aiming to buy from a seller and a little later sell to a buyer, making a small profit from the difference (roughly the amount of the bid/offer spread, or less).


WACC

weighted-average cost of capital#English

(finance) Acronym of weighted-average cost of capital.


money market

bankers' acceptances
banker's acceptance

certificates of deposit
certificate of deposit

(finance) A market for trading short-term debt instruments, such as treasury bills, commercial paper, bankers' acceptances, and certificates of deposit.


cost objective

(accounting) The purpose for which costs are measured.


senior note

Coordinate term: junior note

(finance) A bond that takes priority for receipt of principal and interest over other debt securities sold by the issuer in the event the issuer goes bankrupt.


nonfinancial debt

nonfinancial debt (countable and uncountable, plural nonfinancial debts)

(finance) The debt held by governments, households, and companies not in the financial sector.


nonfinancial

(finance) Not directly related to the finance industry.


CAG

CAG (countable and uncountable, plural CAGs)

(finance) Initialism of compound annual growth.


bearish

en-adj

bearish (comparative more bearish, superlative most bearish)

more bearish (comparative)
most bearish (superlative)

LL-Q1860 (eng)-Flame, not lame-bearish.wav

At the start of the year, Bridgewater turned bearish on U.S. bonds and built up a short position.

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

(stock market, of the price of financial instruments) Characterized by or expecting falling prices.

baissier

characterized by the falling price of a financial instrument


circuit breaker

en-noun

circuit breaker (plural circuit breakers)


negotiable

en-adj

negotiable (comparative more negotiable, superlative most negotiable)

more negotiable (comparative)
most negotiable (superlative)

/nɪˈɡəʊʃəbəl/

/nɪˈɡoʊʃəbəl/

/nɪˈɡəʉʃəbəl/

The court had to decide if a "telecheck" had been "signed" by the purported "drawer," and in doing so the court had to determine whether a "telecheck" is a negotiable instrument[…]

2003, Daniel V. Davidson, Brenda E. Knowles, Lynn M. Forsythe, Business law: principles and cases in the legal environment, page 498:

(law, finance) Able to be transferred to another person, with or without endorsement, in exchange for money.

negociable

able to be transferred to another person, with or without endorsement


checkable

checkable (comparative more checkable, superlative most checkable)

more checkable (comparative)
most checkable (superlative)

(finance, not comparable) Alternative form of chequable


no-load

(US, finance) A financial instrument that is sold directly to a customer without a sales commission.


currency risk

en-noun

currency risk (countable and uncountable, plural currency risks)

(finance) A form of risk resulting from changes of currency exchange rates.


bidding price

(finance) A price offered by a buyer/bidder when he or she buys a good.


final account

(accounting) The year-end numbers needed to file a balance sheet for a corporation.


slush fund

Originally in reference to money for miscellaneous uses that sailors made by selling slush (“a soft mixture of grease and other ingredients”).

He is said to have used his party’s slush fund to buy votes in the election.

7: CERN bestows slush fund on the LHC. Take all pennies from the CERN space.

2008 September 28, Illiad [pen name; J. D. Frazer], “The Large Hadron Collider Game”, in Userfriendly.org, archived from the original on 2019-05-07:

To do this, [the Lord Mayor] has at his disposal a multibillion-pound slush fund for use in lobbying the UK government and governments around the world to bring in laws that are friendly to banks and multinational companies.

2017, Jason Hickel, “The Tax Evaders”, in The Divide […] , London: William Heinemann, →ISBN:

(finance) Money stored for illegal or dishonest purposes.

pimeä rahasto

money stored for illegal or dishonest purposes

A slush fund is a sum of money that is set aside as a reserve. In accounting, a slush fund is a general ledger account of commingled funds that does not have a designated purpose. In more sinister cases, a slush fund may be used as a "black fund," which is unaccounted for and kept off the books.

2021 June 28, Daniel Liberto, “Slush Fund”, in Investopedia:

(accounting) Money that has not been hypothecated or dedicated to a particular purpose, or which is used for a different purpose than originally intended.


tunneling

tunneling (countable and uncountable, plural tunnelings)

(finance) A type of fraud where assets and profits are transferred out of firms for the benefit of those who control them.


OPEX

operating expense
operating expense#English

operating expenditure
operating expenditure#English

(business, finance) Acronym of operating expense/operating expenditure: the continuing costs of a business, in contrast to capital expenditure.


ex stock

(finance, business) Goods which are available immediately from a supplier's stock-holding and therefore with little or no lead time (other than delivery).


promissory note

promissory note (plural promissory notes)

(finance) A document saying that someone owes a specific amount of money to someone else, often with the deadline and interest fees; the primary purposes of a promissory note are to evidence the debt obligation incurred, and to establish terms for payment thereof.


bullish

en-adj

bullish (comparative more bullish, superlative most bullish)

more bullish (comparative)
most bullish (superlative)

(stock market, of the price of financial instruments) Characterized by rising value.

haussier

characterized by the rising value of a financial instrument


intraday

(finance) occurring during a single day.


Nikkei index

Japanese, from 日経 (Nikkei), an abbreviation of 日本経済新聞 (Nihon Keizai Shimbun) (literally "Japan Economics Newspaper"), a Japanese newspaper which publishes the index.

(finance) A Japanese stock market index; normally refers to the Nikkei 225, which is calculated by aggregating the share prices of 225 large Japanese companies quoted on the Tokyo Stock Exchange, and thus reflects the performance of major Japanese businesses.


marginal cost of capital

en-noun

marginal cost of capital (countable and uncountable, plural marginal costs of capital)

(finance, economics) The cost of the marginal unit of capital that a firm could raise.


breakage

breakage (countable and uncountable, plural breakages)

/ˈbɹeɪkɪd͡ʒ/

(accounting) A service which is unused by a customer, such as an unredeemed gift card, which therefore represents a pure profit to the seller.


pump and dump

pump and dump (countable and uncountable, plural pump and dumps)

[…] Mr. Colt bought the stocks in advance of his tips and sold them at a profit as soon as his followers bid up the prices. The stocks then plunged back to earth, causing losses for unwary investors in what the S.E.C. called an updated version of the classic market manipulation known as a pump and dump.

2000 March 3, Alex Berenson, “S.E.C. Reaches Settlement in Web-Based ‘Pump and Dump’ Case”, in The New York Times, →ISSN:

Jordan Belfort was jailed in 1999 for insider trading. He had run a “pump and dump” trading scam, based on selling penny shares to gullible investors, which cost them some $200m. His autobiography was later turned into the Wolf of Wall Street movie, starring Leonardo Di Caprio and directed by Martin Scorsese.

2021 February 2, Mark Sweney, Graeme Wearden, “GameStop shares plunge as traders dump stock”, in The Guardian:

The newest thing in finance had apparently fallen prey to one of the oldest investor hoaxes around – a classic pump-and-dump scheme.

2021 September 13, Matthew Goldstein, Ephrat Livni, Michael Corkery, “Phony Walmart News Release Signals a Crypto Pump-and-Dump Scheme”, in The New York Times, →ISSN:

(finance) A form of financial fraud where the fraudster buys stocks cheaply, generates excitement about those stocks to create a temporary price increase, then sells the stocks before the price goes back down.


skimming

skimming (countable and uncountable, plural skimmings)

(uncountable, finance) Short for price skimming.


Internal Revenue Service

the Internal Revenue Service (canonical)
IRS (abbreviation)

(US, finance) The United States government agency that collects taxes and enforces the internal revenue laws.


share dilution

share dilution (countable and uncountable, plural share dilutions)

(finance) The loss in value of the shares of a company or a lowering of someone’s stake in it resulting from the issuance of new shares.

osakepääoman liudentuminen

loss of stock value or shares due to new issues


CVX

Chevron Corporation
w:Chevron Corporation

(stock ticker symbol) Abbreviation of Chevron Corporation.


auction call

(finance) The option to call a securitized bond usually after a set time period or after the deal's assets have amortized substantially.


DJI

Dow Jones Industrial Average
w:Dow Jones Industrial Average

(finance, stock ticker symbol) Initialism of Dow Jones Industrial Average.


WFC

(stock ticker symbol) Initialism of Wells Fargo.


technicals

This stock’s fundamentals are awful, but its technicals are great – it’s trending upward, so I rate it a short-term buy.


anticipation

anticipation (countable and uncountable, plural anticipations)

From Middle English anticipacioun, from Latin anticipātiō, anticipātiōnem.

(finance) Prepayment of a debt, generally in order to pay less interest.


calendar spread

calendar spread (plural calendar spreads)

(finance) An options strategy or position involving the simultaneous purchase and sale of options of the same class and strike price but with different expiration dates.


token economy

The supply of any token is also important in the operation of a token economy, as well as for the more fundamental issue of token valuation.

2019, Chris Brummer, Cryptoassets: Legal, Regulatory, and Monetary Perspectives, Oxford University Press, →ISBN, page 165:

(cryptocurrencies, economics) An economy based on cryptocurrency tokens.


interest rate

LL-Q1860 (eng)-Flame, not lame-interest rate.wav

(finance) The percentage of an amount of money charged for its use per some period of time (often a year).

سِعْر الْفَائِدَة

percentage of money charged for its use per some period


coiner

From Middle English coynour, from Middle French coigneur; equivalent to coin + -er (agent noun suffix). In the cryptocurrency sense, coin + -er (“supporter”).

(cryptocurrencies) A person who invests in or advocates for cryptocurrencies.


serviceability

serviceability (usually uncountable, plural serviceabilities)

From serviceable + -ity or service + -ability.

(Australia, finance) The ability of an individual to make repayments on a loan.


comaker

(finance) A person who endorses a promissory note.


fixed charge

(finance) An unvarying charge such as rent or property tax.


fixed asset

Coordinate term: current asset

(business, accounting) Asset or property which cannot easily be converted into cash, such as land, buildings and machinery.


cast accounts

en-verb

cast accounts (third-person singular simple present casts accounts, present participle casting accounts, simple past and past participle cast accounts)

casts accounts (present singular third-person)
casting accounts (participle present)
cast accounts (participle past)
cast accounts (past)

(obsolete, accounting) To perform basic bookkeeping.


contractual

Morphologically contract + -ual, from Latin contractus + -al.

Additionally, the CALM general ledger has no account comparable to the contra ( offset ) account maintained by private sector medical centers for contractuals and discounts.

1991, United States. Congress. House. Committee on Veterans' Affairs. Subcommittee on Hospitals and Health Care, H.R. 4935 and DVA's Medical Care Cost Recovery Program, page 96:

Contractuals are telephone, utilities, and other contracted services.

1993, Technical Bulletin - Mississippi Agricultural and Forestry Experiment Station, page 7:

Other Contractuals are usually Insurance, Completion Bond, and sometimes Legal Fees.

2013, Robert Koster, The Budget Book for Film and Television, page 98:

Insurance and legal costs are sometimes written as contractuals.

2017, Lorene M. Wales, The Complete Guide to Film and Digital Production, page 60:

(accounting) A charge for a service that is applied through a contract with another provider.


capital account

en-noun

capital account (plural capital accounts)

(accounting) An account in the net worth section of the balance sheet of an entity such as sole proprietorships and partnerships. In this context, the "capital account" (or, in cases of more than one owner, the "sum of all individual capital accounts") is the residual difference between total assets minus total liabilities, or the "net worth" of the entity. The term should not be confused with similar terms such as "working capital," "capital asset," "capital expenditure," and "capital lease."


mutual fund

The work of the Laureates has affected not only academic research but also market practice. The fact that stock markets are very hard to predict in the short run, and that stock-picking is very difficult both in the short and the long run, has led to close examination of the performance by mutual funds. Research generally has failed to find that mutual funds generate positive returns above what can be motivated by the level of risk; once fund fees are taken into account, their asset management often yields negative excess returns. The recent growth of index funds, which collect all stocks in passively managed portfolios, follows that insight. Moreover, the few successful specialized funds we observe are often motivated by the new factors – “size” and “book-to-market” – that are included in the extended version of the CAPM.

2013, The Royal Swedish Academy of Sciences, “Trendspotting in Asset Markets (Prize in Economic Sciences 2013 / Popular Science Background)”, in nobelprize.org, retrieved 2013-10-20:

(finance) A form of collective investment in which money from many investors is pooled and invested in stocks, bonds, short-term money market instruments, or other securities under the direction of a fund manager.


in specie

Borrowed from Latin in + specie, ablative singular form of species (“kind, form; type”).

(law, finance) In the actual form, especially in the context of a distribution of assets or a loan repayment.

"The estate of £500 a-year I have given to you, Mr Jones: and as I know the inconvenience which attends the want of ready money, I have added £1000 in specie."

1749, Henry Fielding, chapter VII, in The History of Tom Jones, a Foundling, volume (please specify |volume=I to VI), London: A[ndrew] Millar, […], →OCLC, book V:

(law, finance) In coin or monetary metal, in contrast to fiat currency or other paper.


CHIBOR

(finance) Acronym of China Interbank Offer Rate: the floating rate of China interbank credit market.


quant fund

quantitative analysis
quantitative analysis

(finance) An investment fund that makes investment decisions by sophisticated quantitative analysis.


BSP

BSP (countable and uncountable, plural BSPs)

bank settlement plan
w:billing and settlement plan

(finance) Initialism of bank settlement plan, a reporting system used by travel companies to pay airlines.


linker

(finance, informal) A linked bond, one for which the principal is indexed to inflation.


blue chip

Coordinate term: red chip

Every so often, the practice reappears in the trading of “penny stocks”—cheap, rarely traded, shares. Years ago when volume was thinner, it was said to be common in blue chips too.

2000 August 10, “The price is wrong”, in The Economist, →ISSN:

(finance) A stock or other investment that has a high price because of its perceived reliability.


bondholder

(finance) The registered owner of a financial bond.


uneconomical

en-adj

uneconomical (comparative more uneconomical, superlative most uneconomical)

more uneconomical (comparative)
most uneconomical (superlative)


net profit

en-noun

net profit (countable and uncountable, plural net profits)

(finance) The gross revenue minus all expenses.