The unethical practice of a broker trading an equity based on information from the analyst department before his or her clients have been given the information. For example, analysts and brokers who buy up shares in a company just before the brokerage is about to recommended the stock as a strong buy are practicing front running. Another example is a broker who buys himself 200 shares in a stock just before his or her brokerage plans to buy a large block of 400,000 shares.
An accounting metric often used to deduct the amortization of intangible assets to arrive at a value. Companies will use EBITAE not only as a measure of performance, but also to determine interest coverage capabilities. The eliminated items are often seen as factors that distort earnings that are derived from the underlying business operations of a firm. Calculated as:Where expenses* represents expenses that exclude interest, taxes, amortization of intangible assets and exceptional items. |||When evaluating EBITAE, investors will look at the figure as a percentage of revenue and they will also measure EBITAE margin. Both the percentage and margin will be compared to previous years' figures to evaluate performance. This ratio is very similar to the EBITDA, a very popular performance measure often used by investors.
什么是背对背交易 背对背交易是指分行间或集团内的交易，如A公司为B公司的董事担保类似贷款，而B公司亦为A公司的董事担保。 目录 1 背对背交易的组成 背对背交易的组成 背对背交易一般涉及两部分，一部分是借入长期借款（一个月以上期限），另一部分是放出短期贷款（一个月以内期限）。两部分的金额相同或接近，有关利率也相同或接近，而且在大多数情况下，会不断续期，更可能是并无发生实质的资金流动。如在香港，属外资银行在香港的分行（或认可附属公司），金融管理专员在该机构符合下列条件的情况下，可能会就计算流动资产比率的目的，批准把背对背交易项下的债权包括在内： 有关的外资银行是国际性银行，并在全球性的综合基础下管理和监管其流动资产状况； 有关交易是与外资银行的总行进行，与位于香港以外地区的姊妹分行进行的交易不得包括在内； 有关交易的入帐和结算方式，与其它在正常业务过程中进行的银行同业间交易的入帐和结算方式相同； 总行的流动资产状况没有问题； 总行已经以金融管理专员接受的方式确认，进行有关交易的目的是即使出现影响银行整体的资金问题，也会向该分行提供真正的流动资产； 如属重大交易，外资银行注册成立地的监管机构已向金融管理专员确认其知悉该项交易及有关目的，且并不反对该项交易。 如有需要，金融管理专员会要求有关的注册成立地的监管机构给予确认。在一般情况下，如果在计算机构的流动资产比率时并不包括背对背交易在内，流动资产比率便会降至低于30%，则背对背交易会被视为重大交易。 申报机构应将对有关银行在一个月内到期的债权和债务的应收和应付利息也包括在本项目内。
A tax credit for low-income workers. Even workers whose incomes are too small to have paid taxes can get EIC. |||This credit varies with family size, income and the number of children.
A nickname for investors in an IPO who will likely hold onto the security for a long time. In contrast to a flipper, a friendly hand generally tends to look for stable, long-term profits instead of the quick fix.
The currency abbreviation for the Romanian new leu (RON), the currency for Romania. The Romanian new leu is made up of 100 bani and is often presented with the symbol L. The new leu is expected to remain the currency of Romania until it adopts the euro in 2014. |||The old Romanian leu (currency symbol ROL) was replaced by the new leu in July of 2005 at a rate of 10,000:1. The new leu is the fourth leu in a series of currencies brought about through revaluations since 1867; it was used alongside the previous leu from March of 2005 until June of 2006, during the conversion period.
1. The period of time between the opening and closing of some future markets wherein the prices are established through an auction process.2. An option contract giving the owner the right (but not the obligation) to buy a specified amount of an underlying security at a specified price within a specified time. Watch: Call Options 1. In some exchanges, the call period is an important time in which to match and execute a large number of orders before opening and closing. 2. A call becomes more valuable as the price of the underlying asset (stock) appreciates.
A sales charge or commission charged to an investor when buying or redeeming shares in a mutual fund. The fee may be a one-time charge at the time the investor buys into the mutual fund (front-end load), when the investor redeems the mutual fund shares (back-end load), or on an annual basis as a 12b-1 fee. Watch: Mutual Funds A large number of mutual funds carry sales charges. These are paid directly by the investor in the case of the front-end and back-end variety, and indirectly through a deduction to the net assets of the investor's fund if of the 12b-1, or level-load, variety.Oftentimes, these sales charges will be waived if a load mutual fund is included as an investment option in an employer-sponsored retirement plan.Unlike 12b-1 fees, front-end and back-end loads are not included in the calculation of a fund's operating expenses.
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