The rate of a foreign-exchange contract for immediate delivery. Also known as "benchmark rates", "straightforward rates" or "outright rates", spot rates represent the price that a buyer expects to pay for a foreign currency in another currency. |||Though the spot exchange rate is said to be settled immediately, the globally accepted settlement cycle for foreign-exchange contracts is two days. Foreign-exchange contracts are therefore settled on the second day after the day the deal is made.
A type of partnership designed to centralize family business or investment accounts. FLPs pool together a family's assets into one single family-owned business partnership that family members own shares of. FLPs are frequently used as an estate tax minimization strategy, as shares in the FLP can be transferred between generations, at lower taxation rates than would be applied to the partnership's holdings. |||An FLP is different from a conventional trust, as family members actually own a share in a business. Shares can be gifted to family members over years, thus taking advantage of gift tax exemptions on an annual basis. The assets held in an FLP impact the level of estate tax savings that can be realized by using an FLP. In general, the more illiquid and complex the asset mix, the more difficult the FLP is to evaluate, and the larger the potential for estate tax savings.
A mentality characterized by a lack of individuality, causing people to think and act like the general population. This term is used in the investing world to refer to the forces that cause unsubstantiated rallies or sell-offs.
A mutual fund with no limit on the annual operating expenses charged to shareholders. In a non-capped fund, the charges will always cover the cost of doing business, as no ceiling has been placed on the fees. Investors in non-capped funds do not have the luxury of knowing the maximum amount of fees chargeable by the fund. Since the expenses have no limits, investors are exposed to the risk of high fees, which would diminish their investment returns. The operating expenses of a mutual fund are expressed as a percentage of the total annual fees divided by the fund's average assets. Non-capped fund expenses are based on the before-reimbursement expense ratio, which includes both direct and indirect fees.
An option with an exercise price, or strike price, significantly below (for a call option) or above (for a put option) the market price of the underlying asset. Significantly, below/above is considered one strike price below/above the market price of the underlying asset. For example, if the current price of the underlying stock was $10, a call option with a strike price of $5 would be considered deep in the money. Watch: In The Money The most important characteristic of this type of option is its considerable intrinsic value, which is calculated by subtracting the strike price from the underlying asset's market price for a call option (and vice versa for a put option). As an option moves deeper into the money, the delta approaches 100% (for call options), which means for every point change in the underlying asset's price, there will be an equal and simultaneous change in the price of the option, in the same direction. Thus, investing in the option is similar to investing in the underlying asset, except the option holder will have the benefits of lower capital outlay, limited risk, leverage and greater profit potential.
An internet-based, government-regulated market that allows traders to perform hedging activities or speculate on specific economic events. Binaries and futures contracts are provided on different markets including commodities, currencies, employment, inflation and other economic indicators. HedgeStreet was developed to give the average investor the ability to profit from the outcomes of certain economic events. HedgeStreet benefits small investors by having small contract sizes at low prices. HedgeStreet is regulated by the Commodity Futures Trading Commission.
An international type of monetary reserve currency, created by the International Monetary Fund (IMF) in 1969, which operates as a supplement to the existing reserves of member countries. Created in response to concerns about the limitations of gold and dollars as the sole means of settling international accounts, SDRs are designed to augment international liquidity by supplementing the standard reserve currencies. |||You can think of SDRs as an artificial currency used by the IMF and defined as a "basket of national currencies". The IMF uses SDRs for internal accounting purposes. SDRs are allocated by the IMF to its member countries and are backed by the full faith and credit of the member countries' governments.
A United States law which sets out various labor regulations regarding interstate commerce employment, including minimum wages, requirements for overtime pay and limitations on child labor. In general, the FLSA is intended to protect workers against certain unfair pay practices or work regulations. The Fair Labor Standards Act is one of the most important laws for employers to understand since it sets out a wide array of regulations for dealing with employees. |||The law goes on to specify at which times workers are “on the clock” and which times are not paid hours. There are also elaborate rules concerning whether employees are exempt or non-exempt from Fair Labor Standards Act overtime regulations. The FLSA requires overtime to be paid at 1.5 times the regular hourly rate for all hours worked in excess of 40 hours during a seven-day work week.
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