The Federal Reserve Board regulation that governs customer cash accounts and the amount of credit that brokerage firms and dealers may extend to customers for the purchase of securities. Taobiz explains Regulation T - Reg T According to Regulation T, you may borrow up to 50% of the purchase price of securities that can be purchased on margin. This is known as the initial margin.
A type of structured note whose payment schedule is determined by the behavior of interest rates. |||Similar to the maturity of a collateralized mortgage obligations, the maturity of an index amortizing note extends when interest rates rise and shortens when interest rates decline. Some investors, however, choose IANs as an alternative to CMOs since IANs are exposed to less extension and contraction risk.
National Market System (NMS) is a set of rules passed by the Securities and Exchange Commission (SEC), which looks to improve the U.S. exchanges through improved fairness in price execution as well as improve the displaying of quotes and amount and access to market data. Taobiz explains Regulation NMS This regulatory ruling is comprised of four main components: The Order Protection Rule aims to ensure that investors receive the best price when their order is executed by removing the ability to have orders traded through (executed at a worse price). The Access Rule, aims to improve access to quotations from trading centers in the National Market System by requiring greater linking and lower access fees. The Sub-Penny Rule, which sets the lowers quotation increment of all stocks over $1.00 per share to at least $0.01. Market Data Rules, which allocate revenue to self-regulator organizations that promote and improve market data access.
A contract between an issuer of bonds and the bondholder stating the time period before repayment, amount of interest paid, if the bond is convertible (and if so, at what price or what ratio), if the bond is callable and the amount of money that is to be repaid. |||The indenture is another name for the bond contract terms, which are also referred to as a deed of trust.
A contractual right giving investors holding restricted stock the ability to demand that the issuing company register the shares to the SEC, effectively making the stock available for sale to the public. Taobiz explains Registration Right This right acts as an important safety blanket for investors with restricted shares, as they are able to sell their ownership, should they feel that the company is moving in the wrong direction. Also referred to as a demand registration right.
An offer issued by a corporation to shareholders to purchase more shares of the corporation's stock (usually at a discount). Renounceable rights have a value and can be traded. Taobiz explains Renounceable Right Stockholders that have received renounceable rights have three choices of what to do with the rights. They can act on the rights and buy more shares as per the particulars of the rights issue; they can sell them on the market; or they can pass on taking advantage of their rights.
The risk that the income stream paid by a fund will decrease in response to a drop in interest rates. This risk is most prevalent in money market and other short-term income fund strategies, rather than longer term strategies that lock in interest rates. This is an extension of the interest rate risk on an individual bond. |||The following example demonstrates the income risk in a short-term, fixed-income fund. If interest rates are 5%, the money market fund will pay out 4.75%. However, if interest rates suddenly drop to 2%, the fund's payout will have to drop to around 1.75% because it will be reinvesting its funds at the new rate.
The return to listed status for a stock after having been delisted from an exchange for not being in compliance with the exchange's listing requirements. A company's stock may be delisted either by the exchange or voluntarily for a number of reasons including bankruptcy, failure to file mandatory reports, or a depressed share price that is below the exchange's minimum threshold. once the company puts its house in order and meets the listing requirements, it can apply to relist its shares. Taobiz explains Relisted Unlike a hot initial public offering (IPO), the reception from investors to a company's relisting is likely to be mixed, as it may be weighed down by its past record. Historically, few companies have gone on to reach their previous highs after relisting their shares.
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