The combining of odd-lot or round-lot orders for the same security so that they may be executed at the same time. Brokers cannot bunch orders together unless all the affected investors have agreed. The advantage of bunching is that brokers can save clients who have issued small orders from additional fees by combining orders so that they form a round-lot.
A series of algorithms that attempt to identify underlying relationships in a set of data by using a process that mimics the way the human brain operates. Neural networks have the ability to adapt to changing input so that the network produces the best possible result without the need to redesign the output criteria. The concept of neural networks is rapidly increasing in popularity in the area of developing trading systems. At one point in time, it would have seemed impossible to make a system that would be able to adapt to changing markets, but recent developments in technology have now made having these types of systems a reality.
The first four to six digits of a credit card. The bank identification number identifies the institution issuing the card. It is critical to the correct matching of transactions to the issuer of the charge card. This prefix system also applies to debit cards, charge cards and electronic benefit cards. |||Although it is called a bank identification number, BINs are also used by other institutions, such as American Express. As increasing numbers of issuers are opting into the BIN network, the term issuer identification number (IIN) is increasingly used interchangeably with BIN. The prefix system is also used to help identify potential security breaches or identity theft, by comparing such things as the location of the issuing institution and the address of the cardholder.
An idea presented in response to the Kyoto Protocol that involves the trading of greenhouse gas (GHG) emission rights between nations. For example, if Country A exceeds its capacity of GHG and Country B has a surplus of capacity, a monetary agreement could be made that would see Country A pay Country B for the right to use its surplus capacity.The Kyoto Protocol presents nations with the challenge of reducing greenhouse gases and storing more carbon. A nation that finds it hard to meet its target of reducing GHG could pay another nation to reduce emissions by an appropriate quantity.
When investors give up any previous gains in stock price by selling equities in an effort to get out of the market and into less risky investments. True capitulation involves extremely high volume and sharp declines. It usually is indicated by panic selling. The term is a derived from a military term which refers to surrender. After capitulation selling, it is thought that there are great bargains to be had. The belief is that everyone who wants to get out of a stock, for any reason (including forced selling due to margin calls), has sold. The price should then, theoretically, reverse or bounce off the lows. In other words, some investors believe that true capitulation is the sign of a bottom.
The first stock exchange in America that was completely electronically automated. All members of the exchange are registered broker-dealers. This exchange created the National Securities Trading System (NSTS), which performs all auction market tasks on an automated basis. The National Stock Exchange was originally founded in Cincinnati in 1885. It was formerly known as the Cincinnati Stock Exchange, but moved to Chicago in 1995 and changed its name in 2003. The National Stock Exchange can also refer to stock in India or Australia.
In currencies, this is the abbreviation for the Moroccan Dirham. |||The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion.
A shipping and trade index created by the London-based Baltic Exchange that measures changes in the cost to transport raw materials such as metals, grains and fossil fuels by sea. The Baltic Exchange directly contacts shipping brokers to assess price levels for a given route, product to transport and time to delivery (speed). The Baltic Dry Index is a composite of three sub-indexes that measure different sizes of dry bulk carriers (merchant ships) - Capesize, Supramax and Panamax. Multiple geographic routes are evaluated for each index to give depth to the index's composite measurement.It is also known as the "Dry Bulk Index". |||Changes in the Baltic Dry Index can give investors insight into global supply and demand trends. This change is often considered a leading indicator of future economic growth (if the index is rising) or contraction (index is falling) because the goods shipped are raw, pre-production material, which is typically an area with very low levels of speculation. Because the supply of large carriers tends to remain very tight, with long lead times and high production costs, the index can experience high levels of volatility if global demand increases or drops off suddenly. The Baltic Exchange also operates as a maker of markets in freight derivatives, a type of forward contract known as FFAs (forward freight agreements) that are traded over-the-counter.
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