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Outside legal authority or beyond the scope of an organisation. In the legendary Hammersmith ...
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See also: undistributed profits.
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To pick apart formerly composite services or risks so that the components can be considered ...
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Theory formulated by the German physicist Werner Karl Heisenberg (Nobel Prize 1932 and originator ...
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A form of shareholding made possible by the computerisation of company share registers and ...
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Funds that have been credited to a beneficiary's account but which are not yet available for ...
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See also: naked option.
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Abbrev. United Nations Conference on Trade and Development.
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A deal which cannot be finalised until it has been referred to the organisation which placed ...
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A situation where not enough money is supplied by the owners of a business to support its ...
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In market-speak, the truncated form of 'underlying item'; the asset, instrument, index or ...
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See also: inflation.
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A currency which is quoted or traded below what is perceived as its true market value, given ...
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Describes a position so deeply out of the money that the trader would need a snorkel to get ...
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Where the holder of a position has a mark-to-market loss at the time of a rollover, enabling ...
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A broker or investment bank, or a number of them forming a syndicate, which guarantees that ...
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Traders talk of a market having 'indigestion' when there are more securities on offer than ...
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Profits that have not been distributed to shareholders as dividends but which are retained ...
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Dividends paid out of company profits which have not been subject to full Australian tax, ...
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The cost of producing one item, derived by dividing total costs by the quantity of production. ...
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An indicator of cost pressures in the labour market. The ratio of average labour costs divided ...
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An investment product which enables small investors to pool their funds and earn a greater ...
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An arm of the United Nations established in 1964 to improve standards of living and international ...
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See also: company.
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A security that is not registered with a stock exchange and therefore cannot be traded through ...
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A swap agreement not matched by an asset or liability of either party, for example a swap ...
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A loan to a company or individual who provides no collateral, so that the lender is entirely ...
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Notes issued by finance companies, usually for periods ranging from three months to three ...
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Reversing or closing out a position in, say, a swap. See also: swap buyout.
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At the beginning. Upfront fees are charges payable in advance to, say, a lender or a provider ...
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The amount by which a share or security might rise in value. The reverse of downside risk.
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The name given to the series of trade talks between 1987 and 1994 among the 116 member nations ...
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The charging of extortionate rates of interest. Originally the word meant any lending for ...
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A synonym, in economists' jargon, for 'satisfaction'. It is argued that it is impossible to ...
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