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Trading basics

MSCI

MSCI Inc. (formerly Morgan Stanley Capital International) is an American finance company headquartered in New York City. MSCI is a global provider of equity, fixed income, real estate indices, multi-asset portfolio analysis tools, ESG and climate finance products. It operates the MSCI World, MSCI Emerging Markets, and MSCI All Country World (ACWI) indices, among others.

Finance

MSCI KLD 400 Social Index

The MSCI KLD 400 Social Index was launched in 1990 and is designed to help socially conscious investors weigh social and environmental factors in their investment choices.

Trading basics

Muddy Waters Research

Muddy Waters Research LLC is an American investment research firm known for activist short selling. It was founded in 2010 by investor Carson Block. The firm publishes due‑diligence reports on publicly traded companies and, through its affiliated investment adviser Muddy Waters Capital LLC, often takes positions consistent with its research.

Trading basics

Multi Commodity Exchange

Multi Commodity Exchange of India Limited, also known as the Multi Commodity Exchange of India (MCX), is an Indian commodity exchange. It was established in 2003 and is currently based in Mumbai. It is India's largest commodity derivatives exchange. The average daily turnover of commodity futures contracts increased by 26% to ₹32,424 crore during FY2019-20, as against ₹25,648 crore in FY

Finance

Multi-curve framework

In mathematical finance, the multi-curve framework refers to

Finance

Multi-manager investment

A multi-manager fund is an investment product that consists of multiple specialized funds. Each specialized fund may invest across different sectors and markets, or in the same asset class but have different investment styles. For example, large cap value fund versus large cap growth fund.

Trading basics

Multilateral Agreement on Investment

The Multilateral Agreement on Investment (MAI) was a draft agreement negotiated in secret between members of the Organisation for Economic Co-operation and Development (OECD) between 1995 and 1998. It sought to establish a new body of universal investment laws that would grant corporations unconditional rights to engage in financial operations around the world, without any regard to nati

Securities & exchanges

Multilateral trading facility

A multilateral trading facility (MTF) is a European Union regulatory term for a self-regulated financial trading venue. These are alternatives to the traditional stock exchanges where a market is made in securities, typically using electronic systems. The concept was introduced within the Markets in Financial Instruments Directive (MiFID), a European Directive designed to harmonise re

Trading basics

Multivía

Multivía was a contactless card designed for paying the travel fares in the mass transport system Transantiago, in Santiago, the capital of Chile. It was replaced by Tarjeta bip! since 2007 and was completely phased-out in 2011. It was a plastic card equipped with a chip that automatically discounts the cost of a travel when passing the card near a contactless card reader.

Banking

Murābaḥa

Murābaḥa (Arabic: مرابحة, derived from ribh Arabic: ربح, meaning profit) was originally a term of fiqh (Islamic jurisprudence) for a sales contract where the buyer and seller agree on the markup (profit) or "cost-plus" price for the item(s) being sold. In recent decades it has become a term for a very common form of Islamic (i.e., "shariah-compliant") financing, where the price is marked

Finance

Mutual fund separation theorem

In portfolio theory, a mutual fund separation theorem, mutual fund theorem, or separation theorem is a theorem stating that, under certain conditions, any investor's optimal portfolio can be constructed by holding each of certain mutual funds in appropriate ratios, where the number of mutual funds is smaller than the number of individual assets in the portfolio. Here a mutual fund refer

Trading basics

Mutual insurance

A mutual insurance company is an insurance company that is people centric, jointly owned and democratically controlled by its policyholders. It is a form of consumers' co-operative that as of 2013 accounted for 27.3% of the global insurance market helping protect 915 million policy holders globally. From a financial perspective, surpluses that are experienced by the mutual are either ret

Banking

Mutual savings bank

A mutual savings bank is a financial institution chartered by a central or regional government, without capital stock, owned by its members who subscribe to a common fund. From this fund, claims, loans, etc., are paid. Profits after deductions are shared among the members. The institution is intended to provide a safe place for individual members to save and to invest those savings in mo

Trading basics

MYOB (company)

MYOB (meaning mind your own business) is an Australian multinational corporation that provides tax, accounting and other business services software to small and medium businesses. It is owned by KKR.

Trading basics

MyWay (ticketing system)

MyWay+ is the electronic ticketing system used on public transport services within Canberra in the Australian Capital Territory. It is promoted by Transport Canberra and is valid on ACTION buses and Canberra Light Rail. The previous MyWay system was replaced with the MyWay+ system in 2024.

Finance

Naked short selling

Naked short selling, or naked shorting, is the practice of short-selling a tradable asset without first borrowing the asset from another party or ensuring that it can be borrowed. When the seller does not obtain the asset and deliver it to the buyer within the required settlement period, the result is known as a "failure to deliver" (FTD). The transaction generally remains open until the

Trading basics

Nasdaq

The Nasdaq Stock Market is an American stock exchange. It is the largest stock exchange by market capitalization and the first fully electronic stock market. Based in Manhattan, New York City, the exchange is among the most active stock trading venues by volume in the United States.

Trading basics

NASDAQ futures

NASDAQ futures are financial futures which launched on June 21, 1999. It is the financial contract futures that allow an investor to hedge with or speculate on the future value of various components of the NASDAQ market index.

Finance

Nathan Tankus

Nathan Cedric Tankus is an American expert on state and banking finances, with a focus on the Federal Reserve. He has been a visiting researcher at the Fields Institute and a research assistant at the University of Ottawa. He has written for the Financial Times, Business Insider, the Review of Keynesian Economics, Truthout, Jacobin, Naked Capitalism, and Rolling Stone.

Banking

National Bank of Panama

The National Bank of Panama (Spanish: Banco Nacional de Panamá, BNP) is one of two Panamanian government-owned banks. As of January 2009, it held deposits of about US$5 billion. The other government-owned bank is Caja de Ahorros de Panamá (Savings Bank of Panama), with about US$1 billion in total deposits.

Finance

National Development Fund of Iran

The National Development Fund of Iran (NDFI; Persian: صندوق توسعه ملی) is Iran's sovereign wealth fund. It was founded in 2011 to supplement the Oil Stabilization Fund. NDFI is independent of the government's budget. Based on Article 84 of the Fifth Five-year Socio-Economic Development Plan (2010–2015), the National Development Fund was established to transform oil and gas revenues to pr

Payments & settlement

National Payments Corporation of India

National Payments Corporation of India (NPCI) is an Indian public sector company that operates retail payments and settlement systems in India. The organization is an initiative of the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust payment and settlement infrastructure in Indi

Trading basics

National saving

In economics, a country's national saving is the sum of private and public saving. It equals a nation's income minus consumption and the government spending.

Securities & exchanges

National Securities Depository Limited

National Securities Depository Limited (NSDL) is an Indian central securities depository, based in Mumbai. It was established in August 1996 as the first electronic securities depository in India with national coverage. As of 2025, its demat accounts held assets worth ₹464 lakh crore ($4.64 trillion).

Finance

National Social Security Fund (Uganda)

The National Social Security Fund (NSSF; also NSSF Uganda), is a quasi-government agency responsible for the collection, safekeeping, responsible investment, and distribution of retirement funds from employees of the private sector in Uganda who are not covered by the Government Retirement Scheme. Participation for both employers and employees is compulsory. The Uganda National Social Se

Securities & exchanges

National Stock Exchange of India

National Stock Exchange of India Limited, also known as the National Stock Exchange (NSE), is an Indian stock exchange based in Mumbai. It is the 5th largest stock exchange in the world by total market capitalization, exceeding $5 trillion in May 2024.

Trading basics

National Wealth Fund (United Kingdom)

The National Wealth Fund is a public finance institution of the United Kingdom, created in October 2024 when the UK Infrastructure Bank was refocused and branded as the National Wealth Fund to mobilise private capital for clean energy and industrial transformation, and to support long-term regional growth. It is sponsored by HM Treasury and operates at arm’s length under a Statement of S

Trading basics

Natural Asset Company

Natural Asset Companies, abbreviated as NACs, are designed to mobilize private investment for ecological conservation, nature-based solutions, and regenerative land management. Developed by the Intrinsic Exchange Group (IEG), NACs integrate the economic value of nature, including ecosystem services, into a corporation with an equity capital structure.

Trading basics

Natural capital

Natural capital is the world's stock of natural resources, which includes geology, soils, air, water and all living organisms. Some natural capital assets provide people with free goods and services, often called ecosystem services. All of these underpin our economy and society, and thus make human life possible.

Trading basics

Natural Capital Committee

The Natural Capital Committee (NCC) was an independent body set up in 2012, initially for a three-year period, to report to the UK Government and advise on how to value nature and to ensure England's 'natural wealth' is managed efficiently and sustainably. During its first term it produced three reports to government on the 'State of Natural Capital'. It has called on the Office for Nati

Trading basics

NAV lending

NAV (Net Asset Value) lending is a form of fund-level financing where loans are secured by the value of a private equity fund’s investments rather than the uncalled capital commitments of limited partners (LPs). NAV-based credit facilities provide liquidity to private equity funds by allowing them to borrow against the underlying portfolio. These facilities differ from subscription line

Trading basics

NEC

NEC Corporation (日本電気株式会社, Nippon Denki Kabushiki gaisha; an acronym for Nippon Electric Company) is a Japanese multinational conglomerate corporation headquartered at the NEC Supertower in Minato, Tokyo, Japan. It sells IT and network services, including cloud computing, artificial intelligence (AI), Internet of Things (IoT) platform, and telecommunications equipment and software to bus

Trading basics

NEC Software Solutions

NEC Software Solutions UK is a United Kingdom–based software and technology services provider, founded in 1969.

Trading basics

Negative equity

Negative equity is a deficit of owner's equity, occurring when the value of an asset used to secure a loan is less than the outstanding balance on the loan. In the United States, assets (particularly real estate, whose loans are mortgages) with negative equity are often referred to as being "underwater", and loans and borrowers with negative equity are said to be "upside down".

Trading basics

Negative gearing

Negative gearing is a financial leverage strategy whereby an investor borrows money to acquire an income-producing investment, knowing that the gross income generated by the investment (at least in the short term) will be less than the cost of owning and managing the investment, including depreciation and interest charged on the loan (but excluding capital repayments).

Trading basics

Neil Mehta

Neil Mehta is an American venture capitalist and the founder and managing partner of Greenoaks Capital, a venture capital investment firm that makes long-term investments in technology companies. Mehta's investments have included Coupang, Wiz, Deliveroo, Robinhood, Scale AI, and Toast.

Trading basics

Neiman Marcus

Neiman Marcus is an American upmarket department store chain founded in 1907 in Dallas, by Herbert Marcus, his sister Carrie Marcus Neiman, and her husband Abraham Lincoln Neiman. The chain has been owned by the New York City–based Exemplar Luxury Group since 2024. Previously, it was part of the Neiman Marcus Group, and prior to that, Carter Hawley Hale Stores.

Trading basics

Neiman Marcus Group

Neiman Marcus Group was an American holding company of department stores. It was established after holding company Carter Hawley Hale spun-off several of the department store chains it owned in 1987. At the time of its two-fold acquisition by Toronto-based Hudson's Bay Company and spin-off into Saks Global in 2024, it owned the full-line luxury stores Bergdorf Goodman (based in New York

Trading basics

Nelson Peltz

Nelson Peltz (born June 24, 1942) is an American billionaire businessman and investor. He is a founding partner, together with Peter W. May and Edward P. Garden, of Trian Partners, an alternative investment management fund based in New York. He is a former director of Heinz, Mondelēz International, and Ingersoll Rand and a former CEO of Triangle Industries.

Banking

Neobank

A neobank is a type of direct bank that operates exclusively using online banking without traditional physical branches. In contrast to direct banks, in many cases, neobanks do not have their own banking licenses, and instead rely on partner banks. They typically have lower operational costs, which can sometimes result in lower fees and more competitive interest rates.

Trading basics

Neopatrimonialism

Neopatrimonialism is a system of social hierarchy where patrons use state resources to secure the loyalty of clients in the general population. It is an informal patron–client relationship that can reach from very high up in state structures down to individuals in small villages.

Trading basics

Nepalese rupee

The Nepalese rupee (Nepali: नेपाली रुपैयाँ; sign: रु; code: NPR) is the official currency and legal tender of Nepal. It is also sometimes informally abbreviated as N₨ or Re./Rs. Each rupee is subdivided into 100 paisa, although coins of lower denominations are rarely used today. It is issued and regulated by the Nepal Rastra Bank, the central bank of Nepal.

Trading basics

Net asset value

Net asset value (NAV) is the value of an entity's assets minus the value of its liabilities, often in relation to open-end, mutual funds, hedge funds, and venture capital funds. Shares of such funds registered with the U.S. Securities and Exchange Commission are usually bought and redeemed at their net asset value. It is also a key figure with regard to hedge funds and venture capital fu

Finance

Net capital outflow

Net capital outflow (NCO) is the net flow of funds being invested abroad by a country during a certain period of time (usually a year). A positive NCO means that the country invests outside more than the world invests in it. NCO is one of two major ways of characterizing the nature of a country's financial and economic interaction with the other parts of the world (the other being the ba

Securities & exchanges

Net capital rule

The uniform net capital rule is a rule created by the U.S. Securities and Exchange Commission ("SEC") in 1975 to regulate directly the ability of broker-dealers to meet their financial obligations to customers and other creditors. Broker-dealers are companies that trade securities for customers (i.e., brokers) and for their own accounts (i.e., dealers).

Finance

Net present value

Net present value (NPV), also known as net present worth (NPW) is a method for assessing whether future amounts of money are worth more or less than the cost of an investment made today. It is widely used in finance, economics, and project evaluation to judge whether a planned activity is expected to create value. NPV works by converting future cash flows into their “present value,” reco

Finance

New Development Bank

The New Development Bank (NDB), formerly referred to as the BRICS Development Bank, is a multilateral development bank established by the BRICS nations (Brazil, Russia, India, China, and South Africa). According to the agreement, "the bank shall support public or private projects through loans, guarantees, equity participation and other financial instruments" and "shall cooperate with in

Banking

New Kabul Bank

New Kabul Bank is a bank in Afghanistan that has its main branch in the capital city of Kabul. It was established in 2004 as the Kabul Bank, the first private bank in Afghanistan. After corruption and scandals it was re-established in 2011 as the New Kabul Bank.

Trading basics

New Silk Route

New Silk Route Partners LLC (NSR) is an Indian private equity firm that invests in private companies in India, Asia, and the Middle East.

Finance

New South Wales Treasury

NSW Treasury is a department of the New South Wales Government, is responsible for state financial management policy and reporting, and providing advice to the government on economic conditions and issues in New South Wales, Australia. NSW Treasury was established in April 1824 and is the oldest continuing government agency in Australia.

Finance

New York City Department of Finance

The New York City Department of Finance (DOF) is the revenue service, taxation agency and recorder of deeds of the government of New York City. Its Parking Violations Bureau is an administrative court that adjudicates parking violations, while its Sheriff's Office is the city's primary civil law enforcement agency. Thr current commissioner is Richard Lee, appointed by NYC Mayor Zohran Ma

Finance

Nicholas Magens

Esq. Nicholas Magens or Nicolaus Paul Magens (1697 or 1704 – 1764) was an attorney, a merchant specializing in Spain and its colonies in the Americas, and an expert on ship insurance, general average and bottomry who gained a great reputation in commercial matters.

Securities & exchanges

Nifty Fifty

In the United States, the term Nifty Fifty was an informal designation for a group of roughly fifty large-cap stocks on the New York Stock Exchange in the 1960s and 1970s that were widely regarded as solid buy and hold growth stocks, or "blue-chip" stocks. These fifty stocks are credited by historians with propelling the bull market of the early 1970s, while their subsequent crash and un

Fiat currencies

Nigerian naira

The naira (sign: ₦; code: NGN; Yoruba: náírà, Hausa: نَيْرَ, romanized: naira, Igbo: naịra, Tyap: nera) is the currency of Nigeria. One naira is divided into 100 kobo.

Trading basics

NNN lease

In commercial real estate leases in the United States, the tenant, rather than the landlord, is usually responsible for real estate taxes, maintenance, and insurance. In a "net lease", in addition to base rent, the tenant or lessee is responsible for paying some or all of the recoverable expenses related to real-estate ownership. As the rent collected under a net lease is "net" after exp

Finance

Non-bank financial institution

A non-banking financial institution (NBFI) or non-bank financial company (NBFC) is a financial institution that is not legally a bank; it does not have a full banking license or is not supervised by a national or international banking regulatory agency. NBFC facilitate bank-related financial services, such as investment, risk pooling, contractual savings, and market brokering. Examples

Trading basics

Non-performing loan

A non-performing loan (NPL) or non-performing asset (NPA) is a bank loan that is subject to late repayment or is unlikely to be repaid by the borrower in full. Non-performing loans represent a major challenge for the banking sector, as they reduce profitability. They are often claimed to prevent banks from lending more to businesses and consumers, which in turn slows economic growth, alt

Trading basics

Nonrecourse debt

Nonrecourse debt or a nonrecourse loan (sometimes hyphenated as non-recourse) is a secured loan (debt) that is secured by a pledge of collateral, typically real property, but for which the borrower is not personally liable. If the borrower defaults, the lender can seize and sell the collateral, but if the collateral sells for less than the debt, the lender cannot seek that deficiency ba

Finance

Northern Quarter, Brussels

The Northern Quarter (French: Quartier Nord [kaʁtje nɔʁ] or Espace Nord [ɛspas nɔʁ]; Dutch: Noordwijk [ˈnoːrtʋɛik] or Noordruimte [ˈnoːrtˌrœymtə]) is the central business district of Brussels, Belgium. Like La Défense in Paris, the Docklands in London or the Zuidas in Amsterdam, the Northern Quarter consists of a concentration of high-rise buildings where many Belgian and multinational

Securities & exchanges

NSE co-location scam

The NSE co-location scam relates to the market manipulation at the National Stock Exchange of India, India's leading stock exchange. Allegedly select players obtained market price information ahead of the rest of the market, enabling them to front run the rest of the market, possibly breaching the NSE's purpose of demutualisation exchange governance and its robust transparency-based mech

Payments & settlement

NTT Data Payment Services

NTT DATA Payment Services India (formerly known as Atom Technologies Limited) is a payment services provider company headquartered in Mumbai, India.

Finance

Numerix

Numerix is an American capital markets analytics and risk management technology company headquartered in New York City. It develops pricing, risk management, and portfolio analytics software for financial derivatives, structured products, fixed income securities, and convertible securities, serving sell-side institutions including banks and broker-dealers, and buy-side participants inclu

Banking

Nuvama Group

Nuvama Wealth Management Limited (doing business as Nuvama Group) is an Indian multinational wealth management company headquartered in Mumbai. Established in 1993, the company offers services in wealth management, asset management, asset servicing, and capital markets.

Trading basics

NXP Semiconductors

NXP Semiconductors N.V. is a Dutch semiconductor manufacturing and design company with headquarters in Eindhoven, Netherlands. It is the second-largest European semiconductor design and manufacturing company by market capitalization as of 2024. The company employs approximately 34,000 people in more than 30 countries and it reported revenues of $12.61 billion in 2024. The company's name

Banking

NYCE

The New York Cash Exchange (NYCE) is an interbank network connecting the ATMs of various financial institutions in the United States and Canada. NYCE also serves as an EFTPOS network for NYCE-linked ATM cards.

Trading basics

Occupy Homes

Occupy Homes or Occupy Our Homes is part of the Occupy movement which attempts to prevent the foreclosure of people's homes. Protesters delay foreclosures by camping out on the foreclosed property. They also stage protests at the banks responsible for the ongoing foreclosure crisis, sometimes blocking their entrances. It has been compared to the direct action taken by people to prevent h

Finance

Odd lotter

An odd lotter is an investor who purchases shares or other securities in small or unusual quantities. Stocks are typically traded in increments of 100 shares, a quantity known as a round lot or board lot. The cost of 100 shares of a security may be beyond the means of an individual investor, or may represent a larger investment than the investor wishes to make. Thus, the investor purcha

Trading basics

Odious debt

In international law, odious debt, also known as illegitimate debt, is a legal theory that says that the national debt incurred by a despotic regime should not be enforceable. Such debts are, thus, considered by this doctrine to be personal debts of the government that incurred them and not debts of the state. In some respects, the concept is analogous to the invalidity of contracts sign

Securities & exchanges

Oesterreichische Kontrollbank

The Oesterreichische Kontrollbank (OeKB, lit. 'Austrian Control Bank') is a special-purpose financial institution in Austria, headquartered in Vienna. It was founded in 1946 and is owned by Austria's main banks. While technically a private-sector organization, part of its activity is carried out on behalf of the Austrian government and accordingly backed by the state budget.

Trading basics

OfferUp

OfferUp is an online mobile-first C2C marketplace with an emphasis on in-person transactions. It was founded as a competitor to Craigslist, differentiating itself with mobile-friendly apps and user profiles with ratings.

Finance

Office of Financial Research

The Office of Financial Research (OFR) is an independent bureau reporting to the United States Department of the Treasury. Created in the aftermath of the 2008 financial crisis, the OFR monitors and collects data to identify risks across the financial system.

Trading basics

Office of Insurance Commission

The Office of Insurance Commission (OIC) (Thai: สำนักงานคณะกรรมการกำกับและส่งเสริมการประกอบธุรกิจประกันภัย) is the regulator of Thailand’s insurance industry operating under the supervision of the Thai Minister of Finance. The OIC is empowered to regulate insurance companies, brokers and agents and was established under the Thailand Government Insurance Commission Act B.E. 2550 which su

Finance

Office of the Superintendent of Financial Institutions

The Office of the Superintendent of Financial Institutions (OSFI; French: Bureau du surintendant des institutions financières, BSIF) is an independent agency of the Government of Canada reporting to the Minister of Finance created "to contribute to public confidence in the Canadian financial system". It is the sole regulator of banks, and the primary regulator of insurance companies, tru

Banking

Official cash rate

The official cash rate (OCR) is the term used in Australia and New Zealand for the bank rate and is the rate of interest which the central bank charges on overnight loans between commercial banks. This allows the Reserve Bank of Australia and the Reserve Bank of New Zealand to adjust the interest rates that apply in each country's economy. The OCR cannot be changed by transactions betwee

Banking

Offshore bank

An offshore bank is a bank that is operated and regulated under international banking license (often called offshore license), which usually prohibits the bank from establishing any business activities in the jurisdiction of establishment. Due to less regulation and transparency, accounts with offshore banks were often used to hide undeclared income. Since the 1980s, jurisdictions that p

Finance

Offshore company

The term "offshore company" or "offshore corporation" is used in at least two distinct and different ways. An offshore company may be a reference to:

Finance

Offshore fund

An offshore fund is generally a collective investment scheme domiciled in an offshore jurisdiction. Like the term "offshore company", the term is more descriptive than definitive, and both the words 'offshore' and 'fund' may be construed differently.

Finance

Offshore investment

Offshore investment is the keeping of money in a jurisdiction other than one's country of residence. Offshore jurisdictions are used to pay less tax in many countries by large and small-scale investors. Poorly regulated offshore domiciles have served historically as havens for tax evasion, money laundering, or to conceal or protect illegally acquired money from law enforcement in the inv

Finance

Offshore trust

An offshore trust is a conventional trust that is formed under the laws of an offshore jurisdiction.

Finance

Offshoring

Offshoring is the relocation of a business process from one country to another—typically an operational process, such as manufacturing, or supporting processes, such as accounting. Usually this refers to a company business, although state governments may also employ offshoring. More recently, technical and administrative services have been offshored.

Trading basics

OFX (company)

OFX Group Limited is an Australian financial technology company that provides international payments, foreign exchange and spend management services. It is headquartered in Sydney and listed on the Australian Securities Exchange.

Trading basics

Olive Garden

Darden Concepts, Inc., doing business as Olive Garden, is an American casual dining restaurant chain specializing in Italian-American cuisine. It is a unit of Darden Restaurants, Inc., which is headquartered in Orange County, Florida. As of 2022, Olive Garden restaurants accounted for $4.5 billion of the $9.63 billion revenue of Darden.

Securities & exchanges

OMX Stockholm 30

The OMX Stockholm 30 (OMXS30) is a stock market index for the 30 largest and most traded stocks on the Nasdaq Stockholm stock exchange. It is a price return and modified free float capitalization-weighted index.

Trading basics

One Equity Partners

One Equity Partners is a private equity firm with over $10 billion in assets under management which primarily deals with the industrial, healthcare and technology sectors in North America and Europe. One Equity Partners was the merchant banking arm of JPMorgan Chase, focused on leveraged buyout and growth capital investments in middle-market companies. Formed by Bank One in 2001, the gro

Trading basics

Ono (Spain)

ONO was a Spanish broadband communication and entertainment company, delivering integrated telephone, television and Internet services to its residential customers. In this segment, it has 3.7 million services contracted and over six million users.

Banking

Open market operation

In macroeconomics, an open market operation (OMO) is an activity by a central bank to exchange liquidity in its currency with a bank or a group of banks. The central bank can either transact government bonds and other financial assets in the open market or enter into a repurchase agreement or secured lending transaction with a commercial bank. The latter option, often preferred by centra

Finance

Open outcry

Open outcry is a method of communication between professionals on a stock exchange or futures exchange, typically on a trading floor. It involves shouting and the use of hand signals to transfer information primarily about buy and sell orders. The part of the trading floor where this takes place is called a pit.

Finance

Operating margin

In business, operating margin—also known as operating income margin, operating profit margin, EBIT margin and return on sales (ROS) - is the ratio of operating income ("operating profit" in the UK) to net sales, usually expressed in percent.

Finance

Operating partner

An operating partner is a title used by venture capital (VC) and private equity (PE) firms to describe a role dedicated to working with privately held companies to increase value. The role was created by large-capitalization private equity groups when the importance of driving corporate change to add value increased as sellers became more sophisticated and financial engineering less cent

Fiat currencies

Optimum currency area

In economics, an optimum currency area (OCA) or optimal currency region (OCR) is a geographical region in which it would maximize economic efficiency to have the entire region share a single currency.

Finance

Option style

In finance, the style or family of an option is the class into which the option falls, usually defined by the dates on which the option may be exercised. The vast majority of options are either European or American (style) options. These options—as well as others where the payoff is calculated similarly—are referred to as "vanilla options". Options where the payoff is calculated differe

Trading basics

Option-adjusted spread

Option-adjusted spread (OAS) is the yield spread which has to be added to a benchmark yield curve to discount a security's payments to match its market price, using a dynamic pricing model that accounts for embedded options. OAS is hence model-dependent. This concept can be applied to a mortgage-backed security (MBS), or another bond with embedded options, or any other interest rate deri

Trading basics

Opus card

Opus (stylized as OPUS) is a rechargeable, dual interface (contact/contactless) smart card automated fare collection system using the Calypso Standard and is used by major public transit operators in Greater Montreal and Quebec City in the province of Quebec, Canada. It complies with the ISO/IEC 14443 standard for smartcards and can be read by smartphones with an NFC antenna.

Finance

Order book

An order book is the list of orders (manual or electronic) that a trading venue (in particular stock exchanges) uses to record the interest of buyers and sellers in a particular financial instrument. A matching engine uses the book to determine which orders can be fully or partially executed.

Trading basics

Organic composition of capital

The organic composition of capital (OCC) is a concept developed by Karl Marx in his theory of capital, which was simultaneously his critique of political economy. It is derived from his more basic concepts of 'value composition of capital' and 'technical composition of capital'. Marx defines the organic composition of capital as "the value-composition of capital, in so far as it is deter

Finance

Original sin (economics)

Original sin is a term in economics literature, proposed by Barry Eichengreen, Ricardo Hausmann, and Ugo Panizza in a series of papers to refer to a situation in which "most countries are not able to borrow abroad in their domestic currency."

Finance

Ortigas Center

Ortigas Center (also known as the Ortigas Central Business District or Ortigas CBD) is a central business district located within the joint boundaries of Pasig, Mandaluyong, and Quezon City, within Metro Manila in the Philippines. With an area of more than 100 hectares (250 acres), it is Metro Manila's second most important business district after the Makati Central Business District. It

Trading basics

Oscar Health

Oscar Management Corporation, doing business as Oscar Health is an American for-profit health insurance company, founded in 2012 by Joshua Kushner, Kevin Nazemi and Mario Schlosser, and is headquartered in New York City. The company sells health insurance and additionally provides other services in the health insurance industry through telemedicine, healthcare focused technological inter

Finance

Out-of-pocket expense

An out-of-pocket expense, or out-of-pocket cost (OOP), is the direct payment of money that may or may not be later reimbursed from a third-party source. For example, when operating a vehicle, gasoline, parking fees and tolls are considered out-of-pocket expenses for a trip. Car insurance, oil changes, and interest are not, since the outlay of cash covers expenses accrued over a longer pe

Finance

Outline of corporate finance

The following outline is provided as an overview of and topical guide to corporate finance: