The short term interest rate charged on a secured call loan, usually in margin accounts. Also known as the broker's call. The call loan rate can change on a daily basis, and the loan can also be canceled with 24 hours notice.
An economic theory that states that an expected change in the current exchange rate between any two currencies is approximately equivalent to the difference between the two countries' nominal interest rates for that time. Calculated as: Where:"E" represents the % change in the exchange rate"i1" represents country A's interest rate"i2" represents country B's interest rate |||For example, if country A's interest rate is 10% and country B's interest rate is 5%, country B's currency should appreciate roughly 5% compared to country A's currency.The rational for the IFE is that a country with a higher interest rate will also tend to have a higher inflation rate. This increased amount of inflation should cause the currency in the country with the high interest rate to depreciate against a country with lower interest rates.
An automated book-entry accounting system. CNS centralizes the settlement of compared transactions and maintains an efficient flow of security and money balances. During the CNS process, there are reports that are generated which document the movements of money and securities. This system provides clearance for instruments like equities, corporate bonds, Unit Investment Trusts and municipal bonds.
The market in which participants from around the world are able to buy, sell, exchange and speculate on different currencies. International currency markets are made up of banks, commercial companies, central banks, investment management firms, hedge funds, retail forex brokers and investors. Watch: Forex Market Basics |||Because the international currency markets are large and liquid, it is thought that they are extremely efficient. International currency transactions do no occur on a single exchange, but in a global computer network of large banks and brokers from around the world.
An order that is executed only when certain conditions of the security being traded, or another security, have been fulfilled. Such prerequisite conditions range in scope and depth. In a simple case, a contingency order may depend on the potential purchaser's ability to sell a different security in his or her portfolio to free the funds to make the purchase. In a more complicated situation, an options contingency order's execution may depend on the share price of the options' underlying stock A stop-loss order can be viewed as a contingency order because it does not become a market order until the price of the stock being sold reaches a predetermined price. This type of order is very useful when applied to the sale or purchase of options.
The rate at which two currencies in the market can be exchanged. International currency exchange rates display how much of one unit of a currency can be exchanged for another currency. Currency exchange rates can be floating, in which case they change continually based on a multitude of factors. Alternatively, the exchange rates of some foreign currencies are pegged, or fixed, to other currencies, in which case they move in tandem with the currencies to which they are pegged. |||International currency exchange rates are important in today's global economy. Knowing the value of your home currency in relation to different foreign currencies helps investors to analyze investments priced in foreign dollars. For example, for a U.S. investor, knowing the dollar to euro exchange rate is valuable when choosing European investments. A declining U.S. dollar could increase the value of foreign investments, just as an increasing U.S. dollar value could hurt the value of foreign investments.
A market database published by Standard and Poor's. The comprehensive Compustat database provides company data going back 40 to 50 years on over 65,000 securities, as of 2010. The type of information published by Compustat include: Global Industry Classification Standards (GICS), pricing data, earnings data, insider and institutional holdings, and other information directed at investors and analysts. According to Standard and Poor's in 2010, Compustat is used by over 30,000 top buy-side firms managing approximately $139 trillion worldwide. Compustat is also used by the CFA Institute, Internal Revenue Service (IRS) and many leading business schools.
An electronic program that allows for the quick conversion of currencies. An international currency converter can convert the value of one currency to another, such as dollars to euros. Converters will typically use the most recent market prices in the foreign exchange market. |||Currency converters are usually free of charge when found online, and are useful when determining how much of your home currency (base currency) you will need to exchange when traveling to a foreign country. For example, if a U.S. resident travels to England, he or she will need to exchange U.S. dollars for Great Britain pounds. An online currency converter could be used to determine how much base currency would be required to buy a predetermined about of the foreign currency.
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