A credit facility with no restrictions placed upon the lending institution regarding the amount of funds to be lent. |||Under this arrangement, the lending institution is not under any obligation to provide a specific sum to the borrowing company. Furthermore, the borrowing company is not subject to conditions set by the lending institution.
A temporary suspension in the trading of a particular security on one or more exchanges, usually in anticipation of a news announcement or to correct an order imbalance. A trading halt may also be imposed for purely regulatory reasons. During a trading halt, open orders may be canceled and options may be exercised. Taobiz explains Trading Halt A trading halt gives all investors equal opportunity to evaluate news and make buy, sell or hold decisions on that basis. The stock exchange can also halt a stock at any time if it suspects unusual activity related to a stock's price. The stock will typically resume trading after 30 minutes, once news from the issuing company has been disseminated.
The floor where trading activities are conducted. Trading floors are found in the buildings of various exchanges, such as the New York Stock Exchange and the Chicago Board of Trade. These floors represent the area where traders complete the buying or selling of an asset. Taobiz explains Trading Floor The trading floor is also referred to as "the pit" of an exchange, due to the hectic nature of the area. However, with the advent of electronic trading platforms, many of the trading floors that once dominated market exchanges have started to disappear as trading has become more electronically based. Trading floors can also be found in brokerages, investment banks and other companies involved in trading activities. In this case, it refers to the physical office location that houses the trading division, which can complete transactions over the internet or telephone.
The act of lending money at an interest rate higher than that permitted by law. |||This is an illegal practice. Different regions have prescribed interest rates that cannot be exceeded.
Slang for a company that is spending just as much money as it is making on a product that it develops. Taobiz explains Trading Dollars An example is a gold exploration company that spends $5 million to mine $5 million worth of gold.
A loan or security that ranks above other loans or securities with regard to claims on assets or earnings. Also known as a senior security. |||In the case of default, creditors with unsubordinated debt would get paid out in full before the junior debt holders. Therefore, unsubordinated debt is less risky than subordinated debt.
A temporary restriction on program trading in a particular security or market, usually to reduce dramatic price movements. Also known as a collar or circuit breaker. Taobiz explains Trading Curb When the "curbs are in" at the NYSE, it means that certain types of trading are restricted to prevent volatility. Depending on the situation, this can mean that either all trading is halted or that certain sales can be executed only on an uptick. This kind of rule was implemented after the crash of 1987 (Black Monday), as program trading was thought to be a primary cause of the drop.
A loan that is not secured by the issuer's assets. Unsecured notes are similar to debentures but offer a higher rate of return with less security than a debenture. Such notes are also often uninsured and subordinated. The note is structured for a fixed period of time. |||Companies sell unsecured notes through private offerings to generate money for corporate initiatives such as share repurchases and acquisitions. An unsecured note is not backed by any collateral and therefore presents the most risk to lenders (investors in the notes). Due to the higher risk involved, the interest rates on these notes are higher than with secured notes.
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