A specified time, after which the options contract is no longer valid. The expiration time gives a more specific deadline to an options contract on top of the expiration date by giving a time of day. The expiration time will not be the same as the last time to trade the option. Since many public holders of options deal through brokers, they face different expiration times. The last day to trade an option is the third Friday of the expiration month, but the actual expiration time is not until the next day (Saturday). A public holder of an option usually must declare their notice to exercise by 5:00 p.m. on the Friday. This will allow the broker to notify the exchange by the actual expiration time on the expiration date. Furthermore it depends on the exchange, for example the Chicago Board of Trade limits trading on expiring options to 3:00 p.m. Eastern on the last trading day.
An act passed by Congress in 1933 that prohibited commercial banks from collaborating with full-service brokerage firms or participating in investment banking activities. |||The Glass-Steagall Act was enacted during the Great Depression. It protected bank depositors from the additional risks associated with security transactions. The act was dismantled in 1999. Consequently, the distinction between commercial banks and brokerage firms has blurred; many banks own brokerage firms and provide investment services.
A situation in which one broker who has direct access to a stock exchange performs trades for a broker who does not have access. A fraudulent activity in the penny stock market involving two brokers trading a stock back and forth to rack up commissions and give the impression of trading volume. For example, a small firm whose volume of business is not sufficient enough to maintain a trader on the exchange would give its orders to a large dealer for execution. Jitney, or "the jitney game," is basically the same thing as circular trading. The term originated from "Jitney buses," which was a derogatory slang term for Ford buses at the beginning of the century. A reporter coined the term by alluding to the five-cent piece it cost back then for a bus ride. It has since been used to refer to something that is cheaply and poorly made.
A trade penalty imposed by one nation onto one or more other nations. Sanctions can be unilateral, imposed by only one country on one other country, or multilateral, imposed by one or more countries on a number of different countries. Often allies will impose multilateral sanctions on their foes. |||import tariffs, licensing costs and administrative hurdles are often enforced, making it more difficult if not impossible for the nation(s) bearing the sanction to trade with the nation imposing it. An example of a trade sanction is the set of stringent penalties the United States' imposed against Cuba from 1963 to 2000. In the year 2000 some of the sanctions were repealed, specifically those on medical and agriculture goods.
The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. The expiration date for all listed stock options in the U.S. is the third Friday of the expiration month (except when it falls on a holiday, in which case it is on Thursday).
A concept that refines an investment's return by measuring how much risk is involved in producing that return, which is generally expressed as a number or rating. Risk-adjusted returns are applied to individual securities and investment funds and portfolios. There are five principal risk measures: alpha, beta, r-squared, standard deviation and the Sharpe ratio. Each risk measure is unique in how it measures risk. When comparing two or more potential investments, an investor should always compare the same risk measures to each different investment in order to get a relative performance perspective.
A Canadian retirement plan for individuals who are not employees of a local, provincial or federal government body, but who are paid for their services from public funds. This type of retirement plan is not registered with the Canadian Revenue Agency and therefore does not qualify for tax-deferred status. |||Regulations on GSRAs reduce the amount that individuals receiving GSRAs are allowed to contribute to their registered retirement savings plans (RRSPs).
A slang term referring to adult children who are out of school and in their working years, but are still living at home with their parents. These parents face the challenge of managing their own finances and planning for retirement while dealing with the added expense of providing for adult offspring. According to recent studies, most parents report that having KIPPERS is a pleasant experience - they like living with their adult children. However, it usually results in the parents saving less than they otherwise would for their retirement.Contrast this to the situation of a married, working couple with no children at home, where discretionary income is often higher and saving for retirement is easier. This demographic group is sometimes referred to as Dual Income No Kids (DINKs).
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