Industry WIKI

The Clifford family was a family of bankers, merchants, and regents of English descent who were active in Amsterdam during the sixteenth through eighteenth centuries. In the first half of the 18th century, the Clifford bank was second only to Pels, the greatest merchant bank in Europe at that time. The family originated in northern England, although the surname originated in the village

A closed-end fund (CEF), also known as a closed-end mutual fund, is an investment vehicle fund that raises capital by issuing a fixed number of shares at its inception, and then invests that capital in financial assets such as stocks and bonds. After inception it is closed to new capital, although fund managers sometimes employ leverage. Investors can buy and sell the existing shares in

In many cultures, coins are used as votive offerings, usually through the act of throwing coins at or in specific objects such as rivers, lakes, ponds, wells, fountains, statues, bells, vehicles, and other objects to pray for blessings, avert disasters, and make wishes.

Collective ownership is the ownership of property by all members of a group. The breadth or narrowness of the group can range from a whole society to a set of coworkers in a particular enterprise, such as one collective farm. Collective ownership takes many forms including but not limited to: cooperative ownership by the members of an organization, state ownership, social ownership, comm

The Committee of European Securities Regulators (CESR) was an independent committee of European Securities regulators, in place from 2001 to 2010. On 1 January 2011, it was replaced by the European Securities and Markets Authority (ESMA).

A commodity market is a market that trades in the primary economic sector rather than manufactured products. The primary sector includes agricultural products, energy products, and metals. Soft commodities may be perishable and harvested, while hard commodities are usually mined, such as gold and oil. Futures contracts are the oldest way of investing in commodities. Commodity markets ca

A commodity trading advisor (CTA) is US financial regulatory term for an individual or organization who is retained by a fund or individual client to provide advice and services related to trading in futures contracts, commodity options and/or swaps. They are responsible for the trading within managed futures accounts. The definition of CTA may also apply to investment advisors for hedge

Community capitalism is an approach to capitalism that places a priority on the well-being and sustainability of the community as a whole. The community could be a metropolitan area, region, or an entire country.

A company is a legal entity representing an association of legal persons with a shared objective, such as generating profit or benefiting society. Depending on the jurisdiction, companies can take on various forms, including voluntary associations, nonprofit organizations, business entities, financial entities, banks, and educational institutions. Companies have evolved to share common l

In economics, competition is a scenario where different economic firms are in contention to obtain goods that are limited by varying the elements of the marketing mix: price, product, promotion and place. In classical economic thought, competition causes commercial firms to develop new products, services and technologies, which would give consumers greater selection and better products.

Compound annual growth rate (CAGR) is a business, economics and investing term representing the mean annualized growth rate for compounding values over a given time period. CAGR smooths the effect of volatility of periodic values that can render arithmetic means less meaningful. It is particularly useful to compare growth rates of various data values, such as revenue growth of companies,

Concentration risk is a banking term describing the level of risk in a bank's portfolio arising from concentration to a single counterparty, sector or country.

A constant maturity swap (CMS) is a swap that allows the purchaser to fix the duration of received flows on a swap.

The following article is based on UK market; other countries may differ.

In economics, consumer debt is the amount owed by consumers (as opposed to amounts owed by businesses or governments). It includes debts incurred on purchase of goods that are consumable and/or do not appreciate. In macroeconomic terms, it is debt which is used to fund consumption rather than investment.

Consumerism is a socio-cultural and economic phenomenon in which the aspirations of many individuals include the acquisition of goods and services beyond those necessary for survival or traditional displays. In contemporary consumer society, the purchase and the consumption of products have evolved beyond the mere satisfaction of basic human needs, transforming into an activity that is n

Contango is a situation in which the futures price (or forward price) of a commodity is higher than the spot price. In a contango situation, arbitrageurs or speculators are "willing to pay more for a commodity [to be received] at some point in the future than to purchase the commodity immediately. This may be due to people's desire to pay a premium to have the commodity in the future rat

In finance, a contingent claim is a derivative whose future payoff depends on the value of another “underlying” asset, or more generally, that is dependent on the realization of some uncertain future event.

In corporate finance, Contingent Value Rights (CVR) are rights granted by an acquirer to a company’s shareholders, facilitating the transaction where some uncertainty is inherent. CVRs may be separately tradeable securities; they are occasionally acquired (or shorted) by specialized hedge funds.

The contractus trinus, contractus triplex, or simply triple contract, is a set of contracts used by European bankers and merchants in the Middle Ages, notably by the Fugger family, as a method of circumventing the canon law prohibition of usury.

Convergence trade is a trading strategy consisting of two positions: buying one asset forward—i.e., for delivery in future (going long the asset)—and selling a similar asset forward (going short the asset) for a higher price, in the expectation that by the time the assets must be delivered, the prices will have become closer to equal (will have converged), and thus one profits by the amo

Convertible arbitrage is a market-neutral investment strategy often employed by hedge funds. It involves the simultaneous purchase of convertible securities and the short sale of the same issuer's common stock.

A corporate action is an event initiated by a public company that brings or could bring an actual change to the debt securities—equity or debt—issued by the company. Corporate actions are typically agreed upon by a company's board of directors and authorized by the shareholders. For some events, shareholders or bondholders are permitted to vote on the event. Examples of corporate actions

Corporate finance is an area of finance that deals with the sources of funding, and the capital structure of businesses, the actions that managers take to increase the value of the firm to the shareholders, and the tools and analysis used to allocate financial resources. The primary goal of corporate finance is to maximize or increase shareholder value.

A corporate tax, also called corporation tax or company tax or corporate income tax, is a type of direct tax levied on the income or capital of corporations and other similar legal entities. The tax is usually imposed at the national level, but it may also be imposed at state or local levels in some countries. Corporate taxes may be referred to as income tax or capital tax, depending on

A corporation or body corporate is an individual or other entity such as a company that has been authorized by the state to act as a single entity (a legal entity recognized by private and public law as "born out of statute"; a legal person in a legal context) and recognized as such in law for certain purposes.

Corruption is a form of dishonesty or a crime that is undertaken by a person or an organization that is entrusted in a position of authority to acquire illicit benefits or abuse power for one's gain. Corruption may involve activities like bribery, influence peddling, embezzlement, and fraud as well as practices that are legal in many countries, such as lobbying. Political corruption occu

Corvinus International Investment Ltd. is a Hungarian state-owned asset management company. It is responsible for the execution of transactions related to company holdings in line with the strategic objectives of economic development and for the preservation and growth of the assets owned by the company.

Court auction is an auction which takes place at a public location designated by the court.

In finance, a default option, credit default swaption or credit default option is an option to buy protection (payer option) or sell protection (receiver option) as a credit default swap on a specific reference credit with a specific maturity. The option is usually European, exercisable only at one date in the future at a specific strike price defined as a coupon on the credit default s

Credit theories of money, also called debt theories of money, are monetary economic theories concerning the relationship between credit and money. Proponents of these theories, such as Alfred Mitchell-Innes, sometimes emphasize that money and credit/debt are the same thing, seen from different points of view. Proponents assert that the essential nature of money is credit (debt), at leas

Cross-listing (or multi-listing, or interlisting) of shares is when a firm lists its equity shares on one or more foreign stock exchange in addition to its domestic exchange. To be cross-listed, a company must thus comply with the requirements of all the stock exchanges in which it is listed, such as filing.

A crossing network is an alternative trading system (ATS) that matches buy and sell orders electronically for execution without first routing the order to an exchange or other public displayed market such as an electronic communication network (ECN). Such crossing networks are a type of dark pool that employ computerized systems to match buyers and sellers of large blocks of shares with

Cryptocurrency is a type of digital asset that uses distributed ledger, or blockchain, technology to enable a secure transaction.

A cryptocurrency ATM (automated teller machine) or Bitcoin ATM is a kiosk that allows a person to purchase Bitcoin and other cryptocurrencies by using cash or debit card. Some Bitcoin ATMs offer bidirectional functionality, enabling both the purchase of Bitcoin and the sale of Bitcoin for cash. In some cases, Bitcoin ATM providers require users to have an existing account to transact on

Cryptopia was an international cryptocurrency exchange based in Christchurch, New Zealand. Founded in 2014 by Rob Dawson and Adam Clark, it was among the earliest cryptocurrency services started in the country, and was responsible for launching the first stablecoin pegged to the New Zealand dollar. Cryptopia experienced substantial growth in 2017 from 30,000 users to over 1.4 million by

In monetary economics, the currency in circulation in a country is the value of

Currency strength index expresses the index value of currency. For economists, it is often calculated as purchasing power, while for financial traders, it can be described as an indicator, reflecting many factors related to the currency; for example, fundamental data, overall economic performance or interest rates. It can also be calculated from the currency in relation to other currenci

Finco Services, Inc., branded as Current, is an American financial services and software development company based in New York City. It provides mobile banking services through its partner banks, Choice Financial Group, and Cross River Bank.

In macroeconomics and international finance, a country's current account records the value of exports and imports of both goods and services and international transfers of capital. It is one of the two components of the balance of payments, the other being the capital account (also known as the financial account). Current account measures the nation's earnings and spendings abroad and it

The Customs, Excise and Service Tax Appellate Tribunal (CESTAT) is an India quasi-judicial body that hears appeals against orders and decisions passed under the Customs Act, 1962 and Central Excise Act, 1944 as amended from time to time. It was constituted as Customs, Excise and Gold (Control) Appellate Tribunal (CEGAT) under section 129 of Customs Act, 1962, as amended by section 50 and

The Danish Brotherhood in America Headquarters is a building located in the Midtown neighborhood of Omaha, Nebraska, and listed on the National Register of Historic Places. The Danish Brotherhood in America was an ethnic fraternal organization and insurance company.

David Lee Chaum (born 1955) is an American computer scientist, cryptographer, and inventor. He is known as a pioneer in cryptography and privacy-preserving technologies and widely recognized as the inventor of digital cash. His 1982 dissertation, "Computer Systems Established, Maintained, and Trusted by Mutually Suspicious Groups," is the first known proposal for a blockchain protocol. C

Debanking (sometimes spelled de-banking, and also known within the banking industry as de-risking) is the closure of people's or organizations' bank accounts by banks that perceive the account holders to pose a financial, legal, regulatory, or reputational risk to the bank.

Debt: The First 5,000 Years is a book by anthropologist David Graeber published in 2011. It explores the historical relationship of debt with social institutions such as barter, marriage, friendship, slavery, law, religion, war and government. It draws on the history and anthropology of a number of civilizations, large and small, from the first known records of debt from Sumer in 3500 BC

A debtors' prison is a prison for people who are unable to pay debt. Until the mid-19th century, debtors' prisons (usually similar in form to locked workhouses) were a common way to deal with unpaid debt in Western Europe. Destitute people who were unable to pay a court-ordered judgment would be incarcerated in these prisons until they had worked off their debt via labour or secured outs

A defined benefit (DB) pension plan is a type of pension plan in which an employer/sponsor promises a specified pension payment, lump-sum, or combination thereof on retirement that depends on an employee's earnings history, tenure of service and age, rather than depending directly on individual investment returns. Traditionally, many governmental and public entities, as well as a large n

A defined contribution (DC) plan is a type of retirement plan in which the employer, employee or both make contributions on a regular basis. Individual accounts are set up for participants and benefits are based on the amounts credited to these accounts (through employee contributions and, if applicable, employer contributions) plus any investment earnings on the money in the account. In

In economics, deflation is an increase in the real value of the monetary unit of account, as reflected in a decrease in the general price level of goods and services exchanged, measurable by broad price indices.

At the micro-economic level, deleveraging refers to the reduction of the leverage ratio, or the percentage of debt in the balance sheet of a single economic entity, such as a household or a firm. It is the opposite of leveraging, which is the practice of borrowing money to acquire assets and multiply gains and losses.

Della Moneta (On Money) is a 1751 book written by Ferdinando Galiani, and is one of the first specific European treatises on economics, especially monetary theory, preceding Adam Smith's The Wealth of Nations by twenty-five years.

In monetary economics, the demand for money is the desired holding of financial assets in the form of money: that is, cash or bank deposits rather than investments. It can refer to the demand for money narrowly defined as M1 (directly spendable holdings), or for money in the broader sense of M2 or M3.

In economics, a demand shock is a sudden event that increases or decreases demand for goods or services temporarily.

Demand-pull inflation occurs when aggregate demand in an economy is more than aggregate supply. It involves inflation rising as real gross domestic product rises and unemployment falls, as the economy moves along the Phillips curve. This is commonly described as "too much money chasing too few goods". More accurately, it should be described as involving "too much money spent chasing too

The Department of Finance (DoF, Irish: An Roinn Airgeadais, Ulster-Scots: Männystrie o Siller) is a devolved Northern Ireland government department in the Northern Ireland Executive. The minister with overall responsibility for the department is the Minister for Finance. The incumbent Minister is John O'Dowd.

The derivatives market is the financial market for derivatives – financial instruments like futures contracts or options – which are derived from other forms of assets.

Diamond Necklace is a 2012 Indian Malayalam-language romantic comedy-drama film directed and co-produced by Lal Jose. It stars Fahadh Faasil, Samvrutha Sunil, Anusree, and Gauthami Nair. The film tells the story of Dubai-based oncologist, Dr. Arun Kumar, and the end of his luxurious life after meeting three women from different lifestyles.

Diem (formerly known as Libra) was a permissioned blockchain-based stablecoin payment system proposed by the American social media company Facebook. The plan also included a private currency implemented as a cryptocurrency. The launch was originally planned to be in 2020, but only rudimentary experimental code was released.

Direct market access (DMA) in financial markets is the electronic trading infrastructure that gives investors wishing to trade in financial instruments a way to interact with the order book of an exchange. Normally, trading on the order book is restricted to broker-dealers and market making firms that are members of the exchange. Using DMA, investment companies (also known as buy side fi

Disinflation is a decrease in the rate of inflation – a slowdown in the relative rate of increase of the general price level of goods and services in a nation's gross domestic product over time. It is the opposite of reflation.

In financial economics, the dividend discount model (DDM) is a method of valuing the price of a company's capital stock or business value based on the assertion that intrinsic value is determined by the sum of future cash flows from dividend payments to shareholders, discounted back to their present value. The constant-growth form of the DDM is sometimes referred to as the Gordon growth

Dividend policy, in financial management and corporate finance, is concerned with

The dividend yield of a share is the ratio of annualised cash dividends to the share's current market price. It is usually expressed as a percentage and is commonly calculated by dividing the annual dividend per share by the current share price.

The Dogs of the Dow is an investment strategy popularized by Michael B. O'Higgins in a 1991 book and his Dogs of the Dow website. It is a form of dividend investing.

Dollar-cost averaging (DCA) is an investment strategy which aims to apply value investing principles to regular investment. The term was coined by Benjamin Graham in his 1949 book The Intelligent Investor. Graham writes that dollar-cost averaging "means simply that the practitioner invests in common stocks the same number of dollars each month or each quarter. (The same nomenclature app

The drawdown is the measure of the decline from a historical peak in some variable (typically the cumulative profit or total open equity of a financial trading strategy).

The Dubai Multi Commodities Centre (DMCC) is a commodities exchange and free-trade zone in the United Arab Emirates. It is located in the Jumeirah Lake Towers district of Dubai. The DMCC was created in 2002 and deals in four main sectors: precious commodities (e.g., gold, diamonds); energy; steel and metals and agricultural commodities (e.g., tea, cotton).

Dupont analysis is a tool used in financial analysis, where return on equity (ROE) is separated into its component parts.

In economics, Dutch disease is the apparent causal relationship between the increase in the economic development of a specific sector (for example, natural resources) and a decline in other sectors (like the manufacturing sector or agriculture). The term was coined in 1977 by The Economist to describe the decline of the manufacturing sector in the Netherlands after the discovery of the l

Early American currency went through several stages of development during the colonial and post-Revolutionary history of the United States. John Hull was authorized by the Massachusetts legislature to make the earliest coinage of the colony (the willow, the oak, and the pine tree shilling) in 1652.

Earning yield is the quotient of earnings per share (E), divided by the share price (P), giving E/P. It is the reciprocal of the P/E ratio.

The East Asian model (Japanese: 修正資本主義, romanized: shūsei shihonshugi, lit. 'modified capitalism'), pioneered by Japan, is a plan for economic growth whereby the government invests in certain sectors of the economy in order to stimulate the growth of specific industries in the private sector. It generally refers to the model of development pursued in East Asian economies such as Japan, S

Eco-investing or green investing is a form of socially responsible investing where investments are made in companies that support or provide environmentally friendly products and practices. These companies encourage (and often profit from) new technologies that support the transition from carbon dependence to more sustainable alternatives. Green finance is "any structured financial activ

An economic bubble (also called a speculative bubble, asset bubble, or simply financial bubble) is a period when current asset prices greatly exceed their intrinsic valuation, being the valuation that the underlying long-term fundamentals justify. Bubbles can be caused by overly optimistic projections about the scale and sustainability of growth (e.g. dot-com bubble), and/or by the belie

In economics, economic rent is any payment to the owner of a factor of production in excess of the costs needed to bring that factor into production. In classical economics, economic rent is any payment made (including imputed value) or benefit received for non-produced inputs such as location (land) and for assets formed by creating official privilege over natural opportunities (e.g., p

Economic returns are the gains in output, income, or value, which are generated from the employment of productive inputs or resources.

In accounting, as part of financial statements analysis, economic value added (EVA) is an estimate of a firm's economic profit, or the value created in excess of the required return of the company's shareholders. EVA is the net profit less the capital charge ($) for raising the firm's capital. The idea is that value is created when the return on the firm's economic capital employed excee

Bitcoin was designed by its pseudonymous inventor, Satoshi Nakamoto, to work as a currency, but its status as a currency is disputed. Economists define money as a store of value, a medium of exchange and a unit of account, and agree that bitcoin does not currently meet all these criteria.

EconTalk is a weekly economics podcast hosted by Russ Roberts. Roberts, formerly an economics professor at George Mason University, is a research fellow at Stanford University's Hoover Institution. Roberts typically interviews a single guest—often professional economists—on topics in economics. The podcast is hosted by the Library of Economics and Liberty, an online library sponsored by

Eden Gemeinnützige Obstbau-Siedlung is a fruit-growing cooperative in Oranienburg north of Berlin. The cooperative was founded in 1893 exclusively for vegetarians but since 1901 has accepted membership for anyone who "adopts a healthy lifestyle".

Edmund Casimir Szoka (September 14, 1927 – August 20, 2014) was an American Catholic prelate who served as president of the Pontifical Commission for Vatican City State and as president of the Governorate of Vatican City State from 1997 to 2006. He previously served as bishop of Gaylord in Michigan from 1971 to 1981 and archbishop of Detroit in Michigan from 1981 to 1990. Szoka was eleva

Edward Atkinson (February 10, 1827 – December 11, 1905) was an economist, inventor, and a founder of the American Anti-Imperialist League.

In modern portfolio theory, the efficient frontier (or portfolio frontier) is an investment portfolio which occupies the "efficient" parts of the risk–return spectrum.

The efficient-market hypothesis (EMH) is a hypothesis in financial economics that states that asset prices reflect all available information. A direct implication is that it is impossible to "beat the market" consistently on a risk-adjusted basis since market prices should only react to new information.

The Egyptian Exchange (EGX), Egypt's stock exchange, comprises two exchanges, Cairo and Alexandria, both governed by the same board of directors and sharing the same trading, clearing and settlement systems. Presently, the chairman of the Egyptian Exchange is Omar Radwan.

El Zonte is a town in La Libertad Department in El Salvador. A popular tourist destination, El Zonte has been described as a "world surfing mecca". Playa El Zonte (English: El Zonte Beach; nicknamed Bitcoin Beach) became one of the first locales in El Salvador to accept bitcoin as a payment method, and inspired the country's adoption of bitcoin as a legal tender from 2021 until 2025.

Elliptic is a British blockchain analytics firm headquartered in London, with offices in New York and Singapore. The company was co-founded by Adam Joyce, Tom Robinson and James Smith in 2013. It is the first company to develop cryptoasset anti-money laundering and sanctions compliance tools based on blockchain analytics. Its clients are primarily financial institutions and crypto busine

Employees' Provident Fund (EPF; Malay: Kumpulan Wang Simpanan Pekerja, KWSP) is a federal statutory body under the purview of the Ministry of Finance. It manages the compulsory savings plan and retirement planning for private sector workers in Malaysia. Membership of the EPF is mandatory for Malaysian citizens employed in the private sector, and voluntary for non-Malaysian citizens.

Endogenous money is an economy’s supply of money that is determined endogenously—that is, as a result of the interactions of other economic variables, rather than exogenously (autonomously) by an external authority such as a central bank.

The Enforcement Directorate (ED) is a law enforcement and economic intelligence agency of the Government of India. Established on 1 May 1956, it is responsible for enforcing economic laws and combating financial crimes. The ED operates under the Department of Revenue, Ministry of Finance, with its headquarters in New Delhi.

Enterprise value (EV), total enterprise value (TEV), or firm value (FV) is an economic measure reflecting the market value of a business (i.e. as distinct from market price). It is a sum of claims by all claimants: creditors (secured and unsecured) and shareholders (preferred and common). Enterprise value is one of the fundamental metrics used in business valuation, financial analysis, a

The environmental impact of bitcoin has been characterized in the literature as significant, particularly due to its energy use, greenhouse gas emissions, and electronic waste. Bitcoin mining, the process by which bitcoins are created and transactions are finalized, is energy-consuming due to it requiring a large amount of compute and results in carbon emissions. According to the 2025 Ca

Equity risk is "the financial risk involved in holding equity in a particular investment." Equity risk is a type of market risk that applies to investing in shares. The market price of stocks fluctuates all the time, depending on supply and demand. The risk of losing money due to a reduction in the market price of shares is known as equity risk.

The Estimates Committee (India) is a committee of selected members of parliament, constituted by the Parliament of India (the Lok Sabha), for the purpose of scrutinising the functioning of government ministries and departments in terms of expenditure and utilisation of funds. It also suggests alternative policies in order to bring about efficiency and economy in administration. It also e

An ethical bank, also known as a social, alternative, civic, or sustainable bank, is a bank concerned with the social and environmental impacts of its investments and loans. The ethical banking movement includes: ethical investment, impact investment, socially responsible investment, corporate social responsibility, and is also related to such movements as the fair trade movement, ethica

Euroclear, or the Euroclear Group, is a Belgium-based financial market infrastructure group that specialises in the central securities depository (CSD) segment. It traces its origins to the Euro-clear System developed in 1968 by Morgan Guaranty (a predecessor of JPMorgan Chase) in Brussels to settle trades on the then developing eurobond market. The service was rebranded Euroclear (witho

Euronext N.V. (short for European New Exchange Technology) is a European bourse that provides trading and post-trade services for a range of financial instruments. It is registered in Amsterdam but its operational headquarters are located in Paris. It operates major stock exchanges in eight countries: France (Euronext Paris), the Netherlands (Euronext Amsterdam), Belgium (Euronext Brusse

Euronext Paris, formerly known as the Paris Bourse (French: Bourse de Paris), is a regulated securities trading venue in France. It is Europe's second largest stock exchange by market capitalization, behind the London Stock Exchange, as of December 2023. As of 2022, the 795 companies listed had a combined market capitalization of over US$4.58 trillion.

The European banking crisis of 1931 was a major episode of financial instability that peaked with the collapse of several major banks in Austria and Germany, including Creditanstalt on 11 May 1931, Landesbank der Rheinprovinz on 11 July 1931, and Danat-Bank on 13 July 1931. It triggered Germany's exit from the gold standard on 15 July 1931, followed by the UK on 19 September 1931, and ex

The Committee on Economic and Monetary Affairs (ECON) is a standing committee of the European Parliament. It is responsible for economic and monetary policy, the functioning of Economic and Monetary Union, financial services and markets, the free movement of capital and payments, taxation, competition policy and the international monetary and financial system.