Cловарь финансово-экономических терминов и устойчивых фраз в банковской и экономической сфере. Глоссарий предназначен для студентов и переводчиков экономических текстов.
| false accounting | - Illegally altering accounting records by making misleading entries or omitting material information for personal gain or to mask poor firm performance.
- Недостоверность учета
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| symbol book special | Illiquid, inactively traded stock not familiar market |
| trade on the wire | Immediately give a bid or offer to a salesperson without checking the floor conditions (listed), dealer depth (otc) or customer interest. an aggressive trading posture. |
| price effect | Impact of a change in interest rates on bond prices. |
| expected return-beta relationship | Implication of the capm that security risk premiums will be proportional to beta. |
| basic balance | In a balance of payments, the basic balance is the net balance of the combination of the current account and the capital account. |
| safety cushion | In a contingent immunization strategy, the difference between the initially available immunization level and the safety-net return. |
| drop, the | In a dollar roll transaction, the difference between the sale price of a mortgage-backed pass-through, and its repurchase price on a future date at a predetermined price. |
| order parameter | In a nonlinear dynamic system, a variable-acting link a macrovariable, or combination of variables-that summarizes the individual variables that can affect a system. in a controlled experiment, in... |
| control parameters | In a nonlinear dynamic system, the coefficient of the order parameter; the determinant of the influence of the order parameter on the total system. see: order parameter. |
| reoffering yield | In a purchase and sale, the yield to maturity at which an underwriter offers to sell bonds to investors. |
| standby agreement | In a rights issue, agreement that the underwriter will purchase any stock not purchased by investors. |
| oversubscription privilege | In a rights issue, arrangement by which shareholders are given the right to apply for any shares that are not taken up. |
| pay-down | In a treasury refunding, the amount by which the par value of the securities maturing exceeds that of those sold. in the context of general equities, paying a lower price in an accumulation of sto... |
| cash in lieu (cil) | In a typical exchange offer, "old" shares of the target company are exchanged for "new shares". |
| rate risk | - In banking, the risk that profits may drop or losses occur because a rise in interest rates forces up the cost of funding fixed-rate loans or other fixed-rate assets.
- Риск неблагопр...
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| stalking horse bid | In bankruptcy proceedings, this refers to first bid for the companies assets. this is the bid to beat. if there are multiple bids, often there is a bankruptcy auction. |
| stalking horse | - In bankruptcy proceedings, this refers to the company that first bids for the companies assets.
- Фиктивная кандидатура, выдвигаемая с целью раскола голосов сторонников другой партии<...
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| overinvestment | In corporate finance, this refers to managers not acting in the best interests of the shareholders and investing too much (potentially in negative net present value projects). |
| reverse repo | In essence, refers to a repurchase agreement. from the customer`s perspective, the customer provides a collateralized loan to the seller. |
| common shares | In general, a public corporation has two types of shares, common and preferred. the common shares usually entitle the shareholders to vote at shareholders meetings. the common shares have a discre... |
| cash cycle | - In general, the time between cash disbursement and cash collection. in net working capital management, it can be thought of as the operating cycle less the accounts payable payment period.
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| underperform | In general, this means to do worse than some particular benchmark. mutual fund xyz is said to underperform the s&p500 if its return falls short of the s&p500 return. however, this language does no... |
| deal flow | In investment banking, the rate at which new deals are referred to a brokerage firm. |
| tsx composite index (toronto stock exchange index) | In may 2002 by the s&p/tsx composite index replaced the tse300 index. the tsx index has over 200 constituents. |
| point attractor | In non-linear dynamics, an attractor where all orbits in phase space are drawn to one point, or value. essentially, any system which tends to a stable, single valued equilibrium will have a point ... |
| payoff diagram | In option pricing, a graph of the value of the option position at expiration as a function of the underlying asset price. |
| i-i page | In over-the-counter trading, same as h-h page, but exclusively for otc stocks. |
| economic risk | In project financing, the risk that the project`s output will not be salable at a price that will cover the project`s operating and maintenance costs and its debt service requirements. |
| seller`s points | In reference to a loan, seller`s points consist of a lump sum paid by the seller to the buyer`s creditor to reduce the cost of the loan to the buyer. this payment is either required by the credito... |
| eligible bankers` acceptances | In the ba market, an acceptance may be referred to as eligible because it is acceptable by the fed as collateral at the discount window and/or because the accepting bank can sell it without incurr... |
| counterpart items | In the balance of payments, counterpart items are analogous to unrequited transfers in the current account. they arise through the double-entry system in balance of payments accounting and refer t... |
| other capital | In the balance of payments, other capital is a residual category that groups all the capital transactions that have not been included in direct investment, portfolio investment, and reserves categ... |
| joint tenants with right of survivorship | In the case of a joint account, on the death of one account holder, ownership of the account assets is transferred to the remaining account holder or holders. |
| stable paretian, or fractal hypothesis | In the characteristic function of the fractal family of distributions, the characteristic exponent alpha can range between one and two. see: alpha, fractal distributions, gaussian. |
| intercommodity spread | In the commodities market, a spread consisting of a long position and a short position in different but related commodities for example, speculating that the price relationship between the two com... |
| blitzkrieg tender offer | In the context of a takeover, refers to a tender offer that is priced so attractively that the tender is completed quickly. |
| illiquid | In the context of corporate finance, the absence of cash flow needed to fulfill financial debts and meet obligations. in the context of investments, describes a thinly traded investment such as a ... |
| directors` duties | In the context of corporate governance, directors` duties refers to stated responsibilities of the company`s board of directors. these provisions allow directors to consider constituencies other t... |
| secert ballot | In the context of corporate governance, this is also known as confidential voting. an independent third party or employees sworn to secrecy are used to count proxy votes, and the management usuall... |
| fat fingers | In the context of electronic trading, this refers to a trader incorrectly keying in an order. |
| listing broker | In the context of equity, when a stock is traded in exchange it is said to be listed. a licensed real estate broker who completes a listing of a property for sale. |
| back months | In the context of futures and options trading, refers to the months of contracts with expiration dates farthest away. see farthest month. |
| bring it out | In the context of general equities, "make stock available for sale to indicated buyers." |
| back up the truck | In the context of general equities, "prepare for a very large buyer." |
| come in | In the context of general equities, a fall in price. |
| bidding buyer | In the context of general equities, a nonaggressive buyer who prefers to await a natural seller in the hope of paying a lower price. |
| bidding through the market | In the context of general equities, aggressive willingness to purchase a security at a premium to the inside market. contrasts with bidding buyer. |
| cannot compete | In the context of general equities, cannot accommodate customers at that price level (i.e., compete with other market makers), often because there is no natural opposite side of the trade. |
| block call | In the context of general equities, conference meeting during which customer indications and orders, along with the traders` own buy/sell preferences, are conveyed to the entire organization. see ... |
| build a book | In the context of general equities, develop customer orders to gather demand/supply in order to make a bid or an offer. also refers to a commissioned salesperson amassing a `book` of regular clien... |
| close a position | In the context of general equities, eliminate an investment from one`s portfolio, by either selling a long position or covering a short position. |
| beating the gun | In the context of general equities, gaining an advantageous price in a trade through a quick response to market developments. |
| crossed market | In the context of general equities, happens when the inside market consists of a highest bid price that is higher than the lowest offer price. see: overlap the market. |
| clean your skirts | In the context of general equities, i.e. "make all your obligated calls" check with all prior obligations in a security. often preceded by "subject to." |
| cannot complete | In the context of general equities, inability to finish an order on a principal or agency basis, given prevailing price instructions and/or market conditions. |
| fall down | In the context of general equities, may not be able to produce as indicated in one`s advertised market, due to less help (than anticipated) from other parties or due to changing market conditions.... |
| gap opening | In the context of general equities, opening price that is substantially higher or lower than the previous day`s closing price, usually because of some extraordinarily positive or negative news. |
| contingency order | In the context of general equities, order to buy one security, if the trader can sell another, usually given that certain price limits or conditions reach a certain level. swap, switch order. |
| back on the shelf | In the context of general equities, permanently canceled order/interest in a stock by a customer. see: take a powder. |
| draw a call | In the context of general equities, provoking a customer indication/inquiry/order by calling them up or doing large amount of the volume in a stock. |
| bargain hunter | - In the context of general equities, purchaser who is extremely selective in the price sought on a transaction.
- Покупательница, бегающая по магазинам в поисках покупок по дешёвке; за...
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| buy minus order | In the context of general equities, rare market or limit order to buy a stated amount of a stock, provided that the price to be obtained is not higher than the last sale if the last sale is a minu... |
| contramarket stock | In the context of general equities, stock that tends to go against the trend of the market as a whole, such as a commodities-related stock or one in an industry out of favor with investors in a bu... |
| comeout | In the context of general equities, the opening. antithesis of the close.ublic utilities, service, and industrial companies. does not include loans secured by real estate. |
| backed in | In the context of general equities, to describe the result of unanticipated events that allow for a purchase at a discount or a sale at a premium. |
| back away | In the context of general equities, to withdraw from a previously declared interest, indication, or transaction; broker-dealer`s failure, as a market maker in a given security, to make good on a b... |
| come out of the trade | In the context of general equities, trader`s position in a security that results from executing a trade (or the expectations thereof). antithesis of going into the trade. |
| delayed settlement/delivery | In the context of general equities, transaction in which a contract is settled in excess of five full business days. seller`s option. see: dividend play, settlement. |
| inverse order | In the context of periodic repayment schedules, beginning from the end, expected maturity. opposite of current order. |
| current order | In the context of periodic repayment schedules, the next periodic principal repayment. |
| offlake | In the context of project financing, the purchase of the project`s output. |
| sales completion | In the context of project financing, the state in which the project has reached physical completion and has delivered product or generated revenues in satisfaction of a sales completion test. |
| project contracts | In the context of project financing, the suite of agreements underlying the project. |
| gypsy swaps | In the context of regulation d. a private purchaser wishes to invest directly in an issuer but hopes to acquire unrestricted securities. through arrangements and understandings with the issuer, a ... |
| bailing out | In the context of securities, refers to selling a security or commodity quickly, regardless of the price. may occur when an investor no longer wants to sustain further losses on a stock. also refe... |
| commingling | - In the context of securities, this involves mixing customer-owned securities with brokerage firm-owned securities. this process is referred to as rehypothecation, which is the use of customers...
смешение; |
