A market that supports the transaction of derivatives on which the underlying commodities are limited to excluded commodities or assets with an inexhaustible, deliverable supply. A derivatives transaction execution facility allows for the transaction of commodities with no cash market; however, all products listed on the exchange must not be susceptible to manipulation. DTEFs must be registered with the Commodity Futures Trading Commission, which grants them fewer regulatory requirements than other contract markets. |||Derivatives transaction execution facilities are not open to retail investors. To trade on this exchange, an investor must belong to an eligible commercial entity, be an eligible contract participant or transact through a futures commission merchant. DTEFs provide a venue for the trading of excluded commodities, such as interest or exchange rates and other derivatives.
A service, used by underwriting firms, that provides a method of tracking the exact path of purchases and sales of newly issued securities. |||Underwriters don't like flippers. DCTT attempts to deter premature selling of IPOs. The underwriters may even implement penalties against the flipper.
One of the world's largest securities depositories, it holds in excess of US$10 trillion worth of securities in custody. The DTC acts like a clearinghouse to settle trades in corporate and municipal securities. |||DTC is owned by many companies in the financial industry, with the NYSE being one of its largest shareholders.
Established in 1999, the DTCC is a holding company consisting of 5 clearing corporations and 1 depository, making it the world's largest financial services corporation dealing in post trade transactions. |||Owned by its principal users, the DTCC's function is to integrate the NSCC and DTC, streamlining clearing and depository transactions in attempts to reduce cost and increase capital efficiency.
A method used to help calculate the value of closely held and restricted shares. The theory behind DLOM is that a discount exists between the value of a company's stock that is and is not marketable. Various methods have been used to quantify the discount that can be applied including the restricted stock method, IPO method and the option pricing method. |||The restricted stock method purports that the only difference between a company's common stock and its restricted stock is the lack of marketability of the restricted stock. Subsequently, the price difference between both units should arise due to this lack of marketability. The IPO method relates to the price difference between shares that are sold pre-IPO and post-IPO. The percent difference between the two prices is considered the DLOM using this method. The option pricing method uses the option's price and the strike price of the option as the determinants of the DLOM. The option price as a percentage of the strike price is considered the DLOM under this method.The consensus of many studies suggests that the DLOM ranges between 30-50%.
A business venture designed to let investors participate directly in the cash flow and tax benefits of the underlying investment. DPPs are generally passive investments that invest in real estate or energy-related ventures. Also known as a "direct participation plan". |||DPPs are usually organized as a limited partnership, a subchapter S corporation or a general partnership. Although they have been generally used as tax shelters, tax legislation has severely curtailed their tax benefits.
A system that allows a client to trade directly with another client, a market maker on Nasdaq, or a specialist on the floor of an exchange without broker interference. |||DAT is the preferred trading system for day traders, where success is dependent upon speed of execution. For the average investor, DAT is not necessary.
A rolling commodities index composed of futures contracts on 19 physical commodities traded on U.S. exchanges. The index serves as a liquid and diversified benchmark for the commodities' asset class. |||The primary goal of the DJ-AIGCI is to provide a diversified commodities index with weightings based on the economic significance of individual components, while maintaining low volatility and sufficient liquidity.Employing both liquidity and dollar-adjusted production data to determine its individual component weightings, the DJ-AIGCI index differs from other commodities indexes, such as the Goldman Sachs Commodity Index, as it allows for varying component weightings but maintains restrictions such as maximum and minimum component weightings to ensure adequate diversification.
登录
工商服务
危机公关
金融律师
app开发
财税服务
金融牌照
网站建设
知识产权
企业征信
审计评估