- Industry: Financial services
- Number of terms: 73910
- Number of blossaries: 1
- Company Profile:
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Slang for one billion currency units. Used particularly in currency trading, e.g., for Japanese yen since one billion yen equals approximately US$10 million. It is clearer to say, "I'm a buyer of a yard of yen," than to say, "I'm a buyer of a billion yen," which could be misheard as "I'm a buyer of a million yen."
Industry:Financial services
A special dividend declared at the end of a fiscal year that usually represents distribution of higher-than-expected company profits.
Industry:Financial services
The period beginning at the start of the calendar year up to the current date.
Industry:Financial services
Sheets published by the National Quotation Bureau that detail bid and ask prices, plus those firms that are making a market in over-the-counter corporate bonds.
Industry:Financial services
The percentage rate of return paid on a stock in the form of dividends, or the effective rate of interest paid on a bond or note.
Industry:Financial services
The advantage gained by purchasing convertible securities instead of common stock, which equals the difference between the rates of return of the convertible security and the common shares.
Industry:Financial services
A municipal bond financing method. Underwriters in advance refundings add large markups on US Treasury bonds bought and held in escrow to compensate investors while waiting for repayment of old bonds after issuance of the new bonds. Since bond prices and yields move in opposite directions, when the bonds are marked up, they "burn down" the yield, which may violate federal tax rules and diminishes tax revenues.
Industry:Financial services
Applies mainly to convertible securities. Difference in current yield between the convertible and the underlying common.
Industry:Financial services
Models that can incorporate different volatility assumptions along the yield curve, such as the Black-Derman-Toy model. Also called arbitrage-free option-pricing models.
Industry:Financial services
