An indicator based on the theory that the performance of U.S. automaker General Motors (GM) is a pre-cursor to the performance of the U.S. economy and stock market. The GM Indicator relies on the assumption that when people are confident and making money one of the first things they would do is buy a new car. There is still some talk behind this strategy as there is a correlation between auto sales and the overall economic standing of individuals. But this theory had more weight in the 1970s-80s when GM was by far the largest carmaker in North America. Since then GM's importance to the U.S. economy has declined due to greater competition. During the financial crisis of 2007/2008, GM saw sales decline due to a decrease in demand for their "less" fuel efficient vehicles, and a decrease in available funds for financing due to credit restrictions. Their stock price dropped over 70% compared with a general market decline of around 30%. Although a correlation exists, the overall market and economy relies less on the performance of one automaker than it did in the 1970s.
In currencies, this is the abbreviation for the Swedish Krona. |||The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion.
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.
The comparison of an account's performance to that of a representative peer group of money managers. This is used when analyzing the performance of a money manager. In addition to being compared to a standardized index such as the S&P 500, the performance of a manager is compared to the performance of others who look over similar accounts in terms of asset class, style, etc. The peer group is referred to as the money manager's universe.
The name given to a clearing member that is willing to assume the opposite position of a futures contract within a larger alternative exchange, of which it also is a clearing member. A changer commonly refers to clearing members of the CME who provide liquidity by taking the opposite futures positions on larger alternative exchanges. As changers must bear the risks associated with entering into the opposite futures transaction, they charge a fee for their services.
When a buyer reduces his or her bid for a property before the transaction has been signed and finalized. If the real estate market is crashing, a buyer might offer less because he or she knows that the seller desperately wants to sell the property.
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.
The currency abbreviation for the Swedish krona (SEK), the currency for Sweden. The Swedish krona is made up of 100 öre and is often presented with the symbol kr. The krona, which means "crown" in English, is also known in Sweden as the "spänn" or "kosing". |||The Swedish krona replaced the riksdaler riksmynt at par in 1873, when the Scandinavian Monetary Union was formed. This union of Sweden, Denmark and Norway used the gold standard to value the krona at 1/2,480 of a kilogram of gold. After WWI and the break-up of the union, the currencies were separated, and Sweden kept its own respective krona.Since 1992, the exchange rate has been allowed to float against other currencies, with the central bank intervening when necessary to stabilize the krona's value.
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