英文名称:Bill of Exchange 中文名称:汇票出票人签发,委托付款人在见票时或者在指定日期无条件支付确定的金额给收款人或者持票人的票据。 A non-interest-bearing written order used primarily in international trade that binds one party to pay a fixed sum of money to another party at a predetermined future date. Bills of exchange are similar to checks and promissory notes. They can be drawn by individuals or banks and are generally transferable by endorsements. The difference between a promissory note and a bill of exchange is that this product is transferable and can bind one party to pay a third party that was not involved in its creation. If these bills are issued by a bank, they can be referred to as bank drafts. If they are issued by individuals, they can be referred to as trade drafts.
英文名称:Asset Turnover 中文名称:资产周转率指单位金额资产产生的销售收入,用于衡量企业在产生销售收入方面资产的使用效率。计算方法为:销售收入总额/平均资产总额。e.g. This will have the most meaningful impact for Novamerican, not just in terms of strong liquidity but also in terms of enabling a much faster and more reliable delivery system that will result in higher asset turnover and utilization. The amount of sales generated for every dollar's worth of assets. It is calculated by dividing sales in dollars by assets in dollars. Formula: Also known as the Asset Turnover Ratio. Asset turnover measures a firm's efficiency at using its assets in generating sales or revenue - the higher the number the better. It also indicates pricing strategy: companies with low profit margins tend to have high asset turnover, while those with high profit margins have low asset turnover.
英文名称:Coupon Bond 中文名称:有息票债券指按期支付利息的附有息票的债券。债券持有人在债券到期期限内,可以定期凭债券上所附息票,向发行机构支取债券利息。e.g. The 30-year strip even lags the 30-year coupon bond, since the latter has a duration of 15 years. A debt obligation with coupons attached that represent semiannual interest payments. Also known as a "bearer bond".No record of the purchaser is kept by the issuer, and the purchaser's name is not printed on the certificate.
英文名称:Acting in Concert 中文名称:一致行动/合谋/共同行动指投资者一起合作、一致行动以实现共同的投资目标。例如在股权分散的公司中,几个股权相对较大的投资者共同形成公司多数意见,以图影响公司经营管理决策。 A slang term for when parties undertake identical investment actions to achieve the same goal. Acting in concert requires the cooperation of people or corporations to make the same transactions based on a previous arrangement. The issue of acting in concert is often examined in the world of acquisitions. Investors are usually required to declare any takeover intentions or place a tender offer after acquiring a specific percentage of shares in a company. However, some may try to spread the ownership percentage among friendly parties in an attempt to avoid declaring or bidding. Regulators have determined that if people are acting in concert and the sum of ownership exceeds the specified percentage, the group must declare its intentions.
英文名称:Auction 中文名称:拍卖也称标售,指发行人邀请获得授权的交易商出价投标,直至拟出售的证券全部卖出,是公开出售证券的一种方式。e.g. Later this afternoon, the central bank will announce the size of its regular Tuesday auction of 1-year sterilization paper. A system where potential buyers place competitive bids on assets and services. The asset or service in question will sell to the party that places the highest bid. In most cases, sellers will pay a listing fee to the auctioneer, regardless of whether the item actually sells for the desired price. For example, Google used a modified form of auctioning called the dutch auction when it issued its IPO. In this form of auction, prospective buyers submitted bids that included the number of shares desired and what the bidder was willing to pay for them. After the auction ended, the underwriters sorted through bids in order to determine the minimum priced bid they would accept from buyers. The IPO was priced at $85. The internet has increased the amount of exposure that auctions now have, and bidders no longer have to be physically present to participate. online marketplaces such as eBay connect buyers and sellers worldwide by allowing individuals to submit their bids (or list their products) online and send payment electronically.
英文名称:Catastrophe Bond 中文名称:灾难债券一种收益较高的债务工具,发行此债务工具主要是为了应付出现自然灾害的资金需求。此种债务工具一般设有特殊条款,当发行人遭受既定的自然灾害时,其偿还责任可延期甚至豁免。eb1619e81e59668d2db8098284f6daa5e.g. Life reinsurance operations also have a financial services unit that specializes in more arcane financial transactions, including the launch of novel and higher risk instruments, such as catastrophe bonds. A high-yield debt instrument that is usually insurance linked and meant to raise money in case of a catastrophe such as a hurricane or earthquake. It has a special condition that states that if the issuer (insurance or reinsurance company) suffers a loss from a particular pre-defined catastrophe, then the issuer's obligation to pay interest and/or repay the principal is either deferred or completely forgiven. Advantages of CAT bonds are that they are not closely linked with the stock market or economic conditions and offer significant attractions to investors. For example, for the same level of risk, investors can usually obtain a higher yield with CAT bonds relative to alternative investments. Another benefit is that the insurance risk securitization of CATs shows no correlation with equities or corporate bonds, meaning they'd provide a good diversification of risks.
英文名称:Authorized Stock 中文名称:授权股份一个公司允许发行股票的最大数量。 The maximum number of shares that a corporation is legally permitted to issue, as specified in its articles of incorporation. This figure is usually listed in the capital accounts section of the balance sheet. Also known as "authorized shares" or "authorized capital stock". Taobiz explains Authorized Stock This number can be changed only by a vote of all the shareholders. Management will typically keep the number of authorized shares higher than those actually issued. This allows the company to sell more shares if it needs to raise additional funds.
英文名称:Anonymous 中文名称:竞价交易也称匿名交易,指证券买卖的一种交易方式,投资者的买卖指令进入交易系统后,交易系统终端会根据价格优先、时间优先的顺序,对买卖指令进行撮合成交。 Visible bids and offers on the market without the identity of the bidder and seller being revealed. Anonymous trades allow the high profile investors to execute transactions without the scrutiny and speculation of the market.