A controversial computerized trading practice offered by some stock exchanges. Flash trading uses highly sophisticated high-speed computer technology to allow traders to view orders from other market participants fractions of a second before others in the marketplace. This gives flash traders the advantage of being able to gauge supply and demand and recognize movements in market sentiment before other traders.Flash orders are also known as "step-up orders" or "pre-routing orders". Flash orders have been subject to scrutiny because of the advantage they give traders who are able to participate in the orders. Flash trading has been compared to front running, and opponents believe that the practice is harmful to market transparency. Proponents of flash trading state that it is necessary to provide liquidity for exchanges.
Financing arranged by a company while under the Chapter 11 bankruptcy process. DIP financing is unique from other financing methods in that it usually has priority over existing debt, equity and other claims. |||Chapter 11 gives the debtor a fresh start, which is, however, subject to the debtor's fulfillment of its obligations under its plan of reorganization.
An accounting buzzword that describe when companies still have inventory on hand that is not being sold due to inattention or obsolescence. While not an official type of accounting treatment, the term is named after the LIFO and FIFO accounting methods. Companies in a state of FISH accounting tend to have turnover rates that are lower than the industry average. Investors tend to avoid investing in companies that are in a "FISH-like" state, because having inventory lying about consumes expensive capital and storage space.
股票关联负债票据的概述 股票关联负债票据是具有典型的私募债券性质，它的利率一般是固定的，发行范围也相当广泛。在公共市场上，该种票据的市场份额也在不断增长。与传统的固定收益的证券不同，股票关联负债票据在本金和利息支付的计算上，都要与其项下股票指数的收益联系起来考虑。 目录 1 股票关联负债票据的特点 2 股票关联负债票据的一般特征 3 股票关联负债票据的分析 4 参考文献 股票关联负债票据的特点 股票关联负债票据相当灵活，不论是在股票指数上升的时候(看涨期权)还是在股票指数下降的时候(看跌期权)，它都有增值的机会。该种票据也有复合期权，以保障相对固定的收益。股票关联负债票据的利息通常是定期支付。近几年，一种零息票据也受到普遍欢迎。该票据的收益等于本金和一个按照股票指数确定的增加(或者减少)额之和。 股票关联负债票据的一般特征 股票关联负债票据的最大吸引力在于该票据的性质是由投资者决定，而不是由发行者决定。股票关联负债票据的一般特征是: 发行者：银行、一般公司、主权国家或政府部门。 期限：l～10年。 利率：固定、浮动、与股票指数相关联的利率或者零息，利息可以用任何货币支付。 项下股票指数：股票指数、一篮子指数、一篮子股票或某一种股票，可以用任何货币标价。 本金：不少于1000万美元，可以按任何货币计算。 货币种类：本金、利息和与股票指数相关联的支付可以用不同货币，币种不限。 股票风险额：与股票指数相关联的利息支付一般等于其项下股票指数的增值额，有时也可能高于股票指数的增值额。因此，如果利息支付低于股票指数增值额，则投资者可以获得高于市场利率的利息支付作为补偿。 到期赎回：面值加上股票指数增减额。 提前赎回：股票关联负债票据通常可以提前赎回，赎回价格可以按面值，或面值乘上一个事先确定的百分比，或面值加上股票指数增减额。 ">编辑] 股票关联负债票据的分析 通过有关银行信托公司，来自北美洲、欧洲、亚洲、大洋洲和拉丁美洲的投资者都可以购买到股票关联负债票据，以实现各种风险一收益的组合，例如： A、得到一种高收益、固定利率的证券，而不用承担较低信用的投资风险。 B、得到一种某国的固定收益证券，该证券的收益率与他国股票市场的回报率相同，并可免去不必要的风险，减少管理和交易费用，以及克服持有他国股票带来的不便。 C、得到一种由高信用级别机构发行的可转换债券，期限可自由选择，其收益可以与股票指数、股票篮子或某一种股票相挂钩。 参考文献 ↑ 赵炬辉,房梁.国际金融衍生工具.ISBN:7-5426-0970-X生活·读书·新知三联书店,1996.12.
A corporation or trust engaged in the business of investing the pooled capital of investors in financial securities. This is most often done either through a closed-end fund or an open-end fund (also referred to as a mutual fund). In the U.S., most investment companies are registered with and regulated by the Securities & Exchange Commission under the Investment Company Act of 1940. Also known as "fund company" or "fund sponsor". Investment companies are business entities, both privately and publicly owned, that manage, sell, and market funds to the public. They typically offer investors a variety of funds and investment services, which include portfolio management, recordkeeping, custodial, legal, accounting and tax management services.
A very bullish investment strategy that combines options to create a spread with limited loss potential and mixed profit potential. It is generally created by selling one call option and then using the collected premium to purchase a greater number of call options at a higher strike price. This strategy has potentially unlimited upside profit because the trader is holding more long call options than short ones. An investor using this strategy would sell fewer calls at a low strike price and buy more calls at a high strike price. The most common ratios used in this strategy are one short call combined with two long calls, or two short calls combined with three long calls. If this strategy is established at a credit, the trader stands to make a small gain if the price of the underlying decreases dramatically.
A company that continues to operate while under the Chapter 11 bankruptcy process. |||Chapter 11 gives the debtor a fresh start, subject to the debtor's fulfillment of its obligations under its plan of reorganization.
The process of converting a foreign currency into the currency of one's own country. The amount that the investor will receive depends on the exchange rate between the two currencies being traded at the settlement time. |||For example, if you are American, converting British pounds back to U.S. dollars is an example of repatriation. If the pound were held by a British financial institution, the dollars would be called eurodollars, therefore, when converting those eurodollars back to dollars, the investor would be exposed to foreign exchange risk.
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