The electronic filing system created by the Securities and Exchange Commission for the purpose of increasing efficiency and accessibility to corporate filings. This system is used by all publicly traded companies when submitting required documents to the SEC. Corporate documents are time sensitive, and the creation of EDGAR has greatly decreased the time it takes for corporate documents to become publicly available. |||Corporate documents filed with the SEC through EDGAR include annual and quarterly statements, information regarding the holdings of institutional investors and many other forms. These filings include some of the most important information used by investors and analysts.A significant drawback of this system is that the filings are highly stripped down and often difficult to read compared to annual reports received by shareholders. All the information is there, but in what is essentially one giant text file. All of the filings made through EDGAR are available to download or view for free.
An electronic system that attempts to eliminate the role of a third party in the execution of orders entered by an exchange market maker or an over-the-counter market maker, and permits such orders to be entirely or partly executed. |||An ECN connects major brokerages and individual traders so that they can trade directly between themselves without having to go through a middleman.
A high-volume trading platform owned by Direct Edge ECN LLC, the third largest market center worldwide. EDGX is a type of electronic communication network (ECN) that allows traders to trade with one another directly on an exchange instead of having to go through a middleman. NYSE Arca, Nasdaq, and BATS are examples of other high-volume ECNs. In 2009, EDGX traded more than 2 billion shares of U.S. cash equity per day. |||EDGX charges liquidity takers and rebates liquidity providers. As of 2009, EDGX provides a 0.0025 credit for adding liquidity. The charge for removing liquidity is 0.0028. This structure is appealing to limit traders. Direct Edge also has another ECN platform, EDGA, which does not charge to provide or take liquidity. These costs are important to the bottom line for active traders. In mid-2009, Direct Edge applied to the SEC to convert the EDGX and EDGA platforms into stock exchanges.
A cash flow calculation that takes the present value of all asset cash flows and subtracts the present value of all liability cash flows. This calculation is used by banks for asset/liability management. |||The value of a bank's assets and liabilities are directly linked to interest rates. By calculating its EVE, a bank is able to construct models that show the effect of different interest rate changes on its total capital. This risk analysis is a key tool that allows banks to prepare against constantly changing interest rates.
A transaction that transfers carbon credits between two parties under the Kyoto Protocol. The buyer pays the seller cash in exchange for carbon credits, thereby allowing the purchaser to emit more carbon dioxide into the atmosphere. The standards for this agreements are outlined by the International Emissions Trading Association. |||This agreement usually involves two countries; however, it may occur between a country and a large corporation. Buyers expect their carbon emissions to be above the level allocated to them by the Kyoto Protocol, while the seller expects to produce less. Often, the seller has implemented new technology or is developing a new project that is expected to lower its greenhouse gas emissions.
A process by which a company (often a manufacturer) manages and integrates the important parts of its business. An ERP management information system integrates areas such as planning, purchasing, inventory, sales, marketing, finance, human resources, etc. |||ERP is most frequently used in the context of software. As the methodology has become more popular, large software applications have been developed to help companies implement ERP in their organization. Think of ERP as the glue that binds the different computer systems for a large organization. Typically each department would have their own system optimized for that division's particular tasks. With ERP, each department still has their own system, but they can communicate and share information easier with the rest of the company.
Enhanced oil recovery (EOR) is the process of obtaining stranded oil not recovered from an oil reservoir through certain extraction processes. EOR uses methods including thermal recovery, gas injection, chemical injection and low-salinity water flooding. Although these techniques are expensive and not always effective, scientists are particularly interested in EOR's potential to increase domestic oil production. Also called "tertiary recovery." |||Thermal recovery uses heat to thin the oil to make it easier to extract and is popular in California. Gas injection, common throughout the United States, can either push out oil or thin it. CO2 EOR is considered the most promising technique. Chemical injection uses polymers or surfactants to improve oil flow and is not common in U.S. oil production.
A government agency formed in 1977 as an advisor to the U.S. Department of Energy. The EIA is responsible for objectively collecting energy data, conducting analysis and making forecasts. EIA's reports contain information regarding important energy-related factors such as future energy inventories, demand and prices. Its data, analysis and reports are available online to both members of the public and the private sector. |||One of the most renowned reports published by the EIA is called This Week In Petroleum. This report is released every Wednesday and contains commentary regarding changes in inventory, demand and other data for crude oil and other petroleum products (such as gasoline, distillates and propane). Usually, when this report shows unexpected inventory changes in crude oil and gasoline, it causes a ripple effect across the market, increasing or decreasing what consumers pay at the gas pumps.
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