A document declaring in which country a commodity or good was manufactured. The certificate of origin contains information regarding the product's destination and country of export and is required by many treaty agreements before being accepted into another nation. |||Trade restrictions, tariffs, embargoes and duties can all be affected by the certificate of origin. Because some nations limit or ban imports from certain countries, all incoming goods would be required to have a CO. To encourage imports from specific nations, governments may lower the duty on goods if accompanied by a CO from those countries.
An organization started to debate and research European Union affairs. It is a collaboration of the most intelligent individuals and groups with an interest in the EU. One of its main goals is to resolve some of the major issues currently facing the EU through a series of debates, as well as extensive research. |||CEPS is constantly researching subjects such as economic and social welfare policies, energy, climate change and sustainable development, EU neighborhood foreign and security policies, financial markets and institutions, justice and home affairs and many more.
Trading that occurs outside of general market regulations. Curb trading commonly occurs through computers or telephones after the official exchanges have closed. Also known as "kerb trading". In the past, stocks that were considered unfit to trade on the New York stock Exchange were bought and sold on the street curb. This led to the formation of the American Stock Exchange, so curb trading now commonly refers to any trades outside of exchange regulations.
One of three key market participants on the New York Stock Exchange (NYSE). Supplemental Liquidity Providers (SLPs) are market participants that use sophisticated high-speed computers and algorithms to create high volume on exchanges in order to add liquidity to the markets. As an incentive for providing liquidity, the exchange pays the SLP a rebate or fee, which was 0.15 cents as of 2009. The Supplemental Liquidity Provider (SLP) program was introduced shortly after the collapse of Lehman Brothers. The collapse of Lehman Brothers in 2008 caused major concerns about liquidity in markets, which led to the introduction of the SLP to attempt to alleviate the crisis. The other two key market participants are Designated Market Makers (DMMs) and Trading Floor Brokers.
A ratio used to determine return relative to drawdown (downside) risk in a hedge fund. Calculated as: Generally speaking, the higher the Calmar ratio, the better. Some funds have high annual returns, but they also have extremely high drawdown risk. This ratio helps determine return on a downside risk-adjusted basis. Most people use data from the past three years.
A mandatory benefit account set up to provide Singaporeans with a healthy retirement plan. The Central Provident Fund (CPF) was first introduced in 1948 by the Progressive Party to help ensure that Singaporeans would save up for retirement. Many people disagreed with the idea but it was believed that making this fund compulsory would give security and assurance to retirees. |||Rates of contribution vary depending on the employee's age. For example, members that are 35 years old or younger must contribute approximately 33% of total wages to the fund. This breaks down to the employees contributing 20% of their wages and their employers contribute the remaining 13%. The purpose of the fund was to ensure that those entering retirement had the healthcare and support that they needed. The funds are then managed and invested to obtain an adequate return.
A fully integrated order entry and execution system used by Nasdaq for all securities' transactions. The SuperMontage system has replaced the SuperSoes and SOES systems as it is more accurate and efficient.
A feeling of uncertainty, confusion or anxiety that people experience when visiting, doing business in or living in a society that is different from their own. Culture shock can arise from a person's unfamiliarity with local customs, language and acceptable behavior, since norms can vary significantly across cultures. The feeling of culture shock can dissipate over time. Visitors to a new country, for example, will at first be unfamiliar with the nuances of local culture, but will learn how to adapt as interactions with people continue. Culture shock can be daunting for those who do business abroad due to the added pressure of maintaining or developing a profitable business relationship. Many international companies provide cultural training to help reduce cultural gaffes by employees, which can affect business.