An announcement published by the U.S. Treasury regarding the next bill auction. This announcement outlines the terms of the bill auction. Bill announcements must contain the date and time of the auction, as well as the amount of bills to be tendered. |||Bill announcements must also post the settlement date of the bills, as well as the date of their maturity, CUSIP number and the minimum bid amount, in millions. Bill Announcements are published weekly, corresponding with the next auction. The terms outlined in each announcement provide an indication of the demand for Treasury bills.
One of the world's largest securities markets by market capitalization, the Hong Kong Stock Exchange traces its origins to the founding of China's first formal securities market, the Association of Stockbrokers in Hong Kong, in 1891. A second market opened in 1921, and in 1947 the two merged to form the Hong Kong Stock Exchange. Taobiz explains Hong Kong Stock Exchange (HKG) .HK It is one of the larger markets in Asia with around 1,200 listed companies as of 2008. The Exchange introduced automated ordering in 1993 and stock option trading in 1995. The Hong Kong Stock Exchange merged with the Hong Kong Futures Exchange and the Hong Kong Securities Clearing Company in 2000 to form Hong Kong Exchanges and Clearing Ltd., a publicly traded company.
A debt secured by a bidder for a construction job or similar type of bid-based selection process for the purpose of providing a guarantee to the project owner that the bidder will take on the job if selected. The existence of a bid bond provides the owner with assurance that the bidder has the financial means to accept the job for the price quoted in the bid. |||Bid bonds help the selection process of a job contract run smoothly. Without them, project owners would have little in the way of assurance that the bidder they select for a job would be able to properly complete the job without running into cash flow problems along the way. By providing bid bonds for their respective bids, each bidder for the project is able to provide sufficient assurance to the owner that the project is within its means.
A publicly-traded holding company created in 2000 through the merger of The Hong Kong Stock Exchange, the Hong Kong Futures Exchange and the Hong Kong Securities Clearing Company. The merger was designed to increase China's competitiveness in the global market. HKEx trades in stocks, bonds, warrants, mutual funds, ETFs and equity-linked instruments. Taobiz explains Hong Kong Exchanges and Clearing Limited (HKEx) To be traded on HKEx's main board, a company must have a trading record of at least three consecutive years, a profit of at least HK$20 million in the most recent year and HK$30 million over the last two years, an expected market capitalization of at least HK$100 million, and at least 25% of its securities held by the public.
A theory that the future value of interest rates is equal to the summation of market expectations. Proponents of the biased expectation theory argue that the shape of the yield curve is created by ignoring systematic factors and that the term structure of interest rates is solely derived by the market's current expectations. |||Two common biased expectation theories are the liquidity preference theory and the preferred habitat theory. The liquidity preference theory suggests that long-term bonds contain a risk premium and the preferred habitat theory suggests that the supply and demand for different maturity securities are not uniform and therefore there is a difference risk premium for each security.
The practice of placing active or pending orders for a security into a market where the price is dropping rapidly in an attempt to "hold" the price of the security steady, or create a floor in the security. This practice is outlawed in most market instances, except when a broker or other party is mandated to keep the price of a security steady. This is only done in rare cases where there isn't enough market depth to hold the price. Holding the market is also sometimes used as a slang phrase for owning a general market index such as the S&P 500 or Wilshire Total Market. Taobiz explains Holding The Market Holding the market is hard to pull off these days because any one person would have to have very deep pockets to make a significant impact on a security's price. One of the things that keeps holding the market from occurring more frequently is that it is rarely profitable and can often lead to severe losses if prices do not rebound.
A broker who executes over-the-counter bond trades between institutional investors (bond traders). Bond brokers act as an intermediary between institutional investors to keep the identities of the other parties anonymous. Brokers communicate with traders on telephone and over the internet to obtain quotes from both parties. |||Though bond brokers play a key role in maintaining the anonymity of buyers and sellers in the bond market, as computer systems advance, some of these duties will become obsolete. As for now, human interaction still plays an important role. Bond brokers make money off the spread at which they exchange bonds between traders, and take little risk in the process, since brokers do not hold long or short positions in bonds.
A financial product created by Merrill Lynch and traded daily on the American Stock Exchange that allows investors to buy and sell a basket of stocks in a particular sector, industry or other classification in a single transaction. Taobiz explains Holding Company Depository Receipt - HOLDR There is a wide range of HOLDRs, covering various segments of the market such as biotech, internet and Europe 2001. Each HOLDR represents individual ownership in the stocks underlying the HOLDR. The value of the HOLDR fluctuates with the change in value of the underlying stocks. The benefit of this instrument is that it enables an investor to gain exposure to a segment of the market and diversify within that sector. To gain the same level of diversification without this vehicle, the investor would need to purchase each company individually, thus increasing the amount of commissions.