Industry WIKI

Lottery bonds are a type of government bond in which some randomly selected bonds within the issue are redeemed at a higher value than the face value of the bond. Lottery bonds have been issued by public authorities in Belgium, Ireland, Pakistan, Sweden, New Zealand, the UK and other nations.

A managed futures account (MFA) or managed futures fund (MFF) is a type of alternative investment in the US in which trading in the futures markets is managed by another person or entity, rather than the fund's owner. Managed futures accounts include, but are not limited to, commodity pools. These funds are operated by commodity trading advisors (CTAs) or commodity pool operators (CPOs),

Manchester City Football Club dates back to 1894, when Ardwick A.F.C. dissolved and was reformed as Manchester City Football Club Ltd. Over recent years, the state of ownership and finances of Manchester City Football Club has been tumultuous, featuring various owners of contrasting fortunes, in line with the club's inconsistent trend on the pitch. The club is currently owned by the City

A market anomaly in a financial market is predictability that seems to be inconsistent with (typically risk-based) theories of asset prices. Standard theories include the capital asset pricing model and the Fama-French Three Factor Model, but a lack of agreement among academics about the proper theory leads many to refer to anomalies without a reference to a benchmark theory (Daniel and

In finance, market data is price and other related data for a financial instrument reported by a trading venue such as a stock exchange. Market data allows traders and investors to know the latest price and see historical trends for instruments such as equities, fixed-income products, derivatives, and currencies.

In neoclassical economics, a market distortion is any event in which a market reaches a market clearing price for an item that is substantially different from the price that a market would achieve while operating under conditions of perfect competition and state enforcement of legal contracts and the ownership of private property. In other words, a distortion is "any departure from the i

A mense (from Latin mensa 'table') is the name of a form of ecclesiastical income in the Catholic Church. Historically, the mense was a land tax that was used as income for its holder (i.e. bishop, abbot, canons or monks, pastor, etc.). In an abbey this support was called the In commendam and was divided into three lots, one for the commendatory abbot, one for the religious community a

In development economics, the middle income trap is a situation where a country has developed until GDP per capita has reached a middle level of income, but the country does not develop further and does not attain high income country status. The term was introduced by the World Bank in 2007 who defined it as the "middle-income range" countries with gross national product per capita that

The Ministry of Finance (Dutch: Ministerie van Financiën; FIN) is the Dutch Ministry responsible for economic policy, monetary policy, fiscal policy, tax policy, incomes policy, financial regulation, the government budget and the financial market. The Ministry was created in 1798 as the Department of Finance of the Batavian Republic. It became the Ministry of Finance in 1876. The Ministe

The Ministry of Finance and Economy of the Dominican Republic (Spanish: Ministerio de Hacienda y Economía de la República Dominicana, MHE) also known as Treasury (Spanish: Hacienda), is the government institution in charge of preparing, executing and evaluating the country's fiscal policies, including national income, expenses and finance and securing its sustainability in relation to t

A monetary system is a system where a government manages money in a country's economy. Modern monetary systems usually consist of a national treasury, a mint, central banks and commercial banks.

A money market fund (also called a money market mutual fund) is an open-end mutual fund that invests in short-term debt securities such as US Treasury bills and commercial paper. Money market funds are managed with the goal of maintaining a highly stable asset value through liquid investments while paying income to investors in the form of dividends. Although they are not insured against

In the United States, a mortgage note (also known as a real estate lien note or borrower's note) is a promissory note secured by a specified mortgage loan.

In the mortgage industry of the United States, mortgage servicing rights (MSR) are the contractual rights to service a mortgage after the mortgage origination process is complete. Mortgage servicing is the management of the repayment of mortgage debt on behalf of the lender, including the collection and recording of mortgage payments. The legal entity that holds the mortgage servicing ri

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.

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

In corporate finance, net operating profit after tax (NOPAT) is a company's after-tax operating profit for all investors, including shareholders and debt holders. NOPAT is used by analysts and investors as a precise and accurate measurement of profitability to compare a company's financial results across its history and against competitors.

The New York Institute of Finance (NYIF) is an American for-profit provider of continuing professional education that was founded by the New York Stock Exchange (NYSE) in 1922.

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.

Paper wealth means financial assets or possessions as measured by their monetary value, as reflected in the price of assets – how much money one's assets could be sold for. Paper wealth is contrasted with real wealth, which refers to one's actual physical assets. For example, if one owns a house and its assessed value increases (relative to the general price level, i.e., assuming no infl

Performance attribution, or investment performance attribution is a set of techniques that performance analysts use to explain why a portfolio's performance differed from the benchmark. This difference between the portfolio return and the benchmark return is known as the active return. The active return is the component of a portfolio's performance that arises from the fact that the po

A perpetual bond, also known colloquially as a perpetual or perp, is a bond with no maturity date, therefore allowing it to be treated as equity, not as debt. Issuers pay coupons on perpetual bonds forever, and they do not have to redeem the principal. Perpetual bond cash flows are, therefore, those of a perpetuity.

The Pooled Income Fund (PIF) is a type of charitable mutual fund or charitable trust that pools the securities or cash separately donated by an individual, a family or a corporation to a charity, which is then invested to provide dividends for both the donor's beneficiary and charity. The donations are irrevocable and tax-deductible and must be from personal assets. Capital gains taxes d

The price–earnings ratio (P/E ratio, P/E, or PER) is the ratio of a company's share price to the company's earnings per share. The ratio is used for valuing companies and to find out whether they are overvalued or undervalued.

Private banking is a general description for banking, investment and other financial services provided by banks and financial institutions primarily serving high-net-worth individuals (HNWIs) – those with very high income or substantial assets. Private banking is presented by those who provide such services as an exclusive subset of wealth management services, provided to particularly af

Private credit is an aspect of the shadow banking system involving assets defined by non-bank lending where the debt is not issued or traded on the public markets. "Private credit" can also be referred to as "direct lending" or "private lending". It is a subset of "alternative credit". Estimations of the global private credit industry's size vary; as of April 2024, the International Mone

A private equity fund (PE fund) is a collective investment scheme used for making investments in various equity (and to a lesser extent debt) securities according to one of the investment strategies associated with private equity. Private equity funds are typically limited partnerships with a fixed term of 10 years (often with one- or two-year extensions). At inception, institutional inv

Private equity real estate is a term used in investment finance to refer to a specific subset of the real estate investment asset class. Private equity real estate refers to one of the four quadrants of the real estate capital markets, which include private equity, private debt, public equity and public debt.

Publicly traded private equity, also known as publicly quoted private equity or publicly listed private equity, is an investment firm or investment vehicle, which makes investments conforming to one of the various private equity strategies, and is listed on a public stock exchange.

Quality investing is an investment strategy based on a set of clearly defined fundamental criteria that seeks to identify companies with outstanding quality characteristics. The quality assessment is made based on soft (e.g. management credibility) and hard criteria (e.g. balance sheet stability). Quality investing supports best overall rather than best-in-class approach.

In finance, return is a profit on an investment. It comprises any change in value of the investment, and/or cash flows (or securities, or other investments) which the investor receives from that investment over a specified time period, such as interest payments, coupons, cash dividends and stock dividends. It may be measured either in absolute terms (e.g., dollars) or as a percentage of

Remgro Limited is a South African investment holding company, based in Stellenbosch.

A remortgage (known as refinancing in the United States) is the process of paying off one mortgage with the proceeds from a new mortgage using the same property as security. The term is mainly used commercially in the United Kingdom, though what it describes is not unique to any one country. Often the purpose of switching is to secure a more favorable interest rate from a different lende

Renting, also known as hiring or letting, is an agreement where a payment is made for the use of a good, service or property owned by another over a fixed period of time. Typically a written agreement is signed to establish the roles and expectations of both the tenant and landlord. There are many different types; a rental agreement tends to refer to short-term rental, whereas lease ref

Return on capital (ROC), or return on invested capital (ROIC), is a ratio used in finance, valuation and accounting, as a measure of the profitability and value-creating potential of companies relative to the amount of capital invested by shareholders and other debtholders. It indicates how effective a company is at turning capital into profits.

The return on equity (ROE) is a measure of the profitability of a business in relation to its equity;

Returns-based style analysis (RBSA) is a statistical technique used in finance to deconstruct the returns of investment strategies using a variety of explanatory variables. The model results in a strategy's exposures to asset classes or other factors, interpreted as a measure of a fund or portfolio manager's investment style. While the model is most frequently used to show an equity mutu

Reuters 3000 Xtra was an electronic trading platform which was released by Reuters in 1999 and supported until the end of 2013. It was typically used by professional traders and financial analysts in trading rooms. It was superseded by the Eikon platform, first released in 2010.

A reverse convertible security is a type of convertible security where a bond or short-term note can be converted to cash, debt or equity at a set date by the issuer based on an underlying stock. In effect it is a type of option on the maturity date where the bond can be converted to shares or cash. For the investor they get the advantage of a steady stream of income due to the payment o

Risk arbitrage, also known as merger arbitrage, is an investment strategy that speculates on the successful completion of mergers and acquisitions. An investor that employs this strategy is known as an arbitrageur. Risk arbitrage is a type of event-driven investing in that it attempts to exploit pricing inefficiencies caused by a corporate event.

A risk-free bond is a theoretical bond that repays interest and principal with absolute certainty. The rate of return would be the risk-free interest rate. It is primary security, which pays off 1 unit no matter state of economy is realized at time

Robo-advisors or robo-advisers are financial advisers that provide personalized financial advice and investment management online with moderate to minimal human intervention. A robo-advisor provides digital financial advice that is personalised based on mathematical rules or algorithms. These algorithms are designed by human financial advisors, investment managers and data scientists, an

A royalty fund (also known as royalty funding) is a category of private equity fund that specializes in purchasing consistent revenue streams deriving from the payment of royalties. Royalties are a usage-based payment from one individual or entity to another individual or entity, giving the right to use an asset, product, service or idea.

The National Payment Card System (Russian: Национальная система платёжных карт; known its acronym NSPK) is an operational and payment clearing house for processing bank card transactions within Russia and the operator of the Mir card payment system. It is the operational and payment clearing house of the Faster Payment System (FPS) and wholly owned by the Central Bank of Russia (CBR).

A scrip is any substitute for legal tender.

In finance, securities lending or stock lending refers to the lending of securities by one party to another.

Securities research is a discipline within the financial services industry about securities. Securities research professionals are known most generally as "analysts", "research analysts", or "securities analysts"; all the foregoing terms are synonymous. Research analysts produce research reports and typically issue a recommendation: buy ("overweight"), hold, or sell ("underweight"); see

A security token offering (STO) / tokenized IPO is a type of public offering in which tokenized digital securities, known as security tokens, are sold in security token exchanges. Tokens can be used to trade real financial assets such as equities and fixed income, and use a blockchain virtual ledger system to store and validate token transactions.

Shipbroking is a financial service, which forms part of the global shipping industry. Shipbrokers are specialist intermediaries/negotiators (i.e. brokers) between shipowners and charterers who use ships to transport cargo, or between buyers and sellers of vessels.

Short-term European paper (STEP) is a short-term financing instrument and investment tool, and also a tool for the European Union to align the market standards and practices to promote the integration of the European market. The EU has accepted the STEP market as a non-regulated market due to collateral purposes; meanwhile, this will not influence the existing national and European legis

Social credit is a distributive philosophy of political economy developed in the 1920s and 1930s by the British engineer and economist C. H. Douglas. Douglas attributed economic downturns to discrepancies between the cost of goods and the compensation of the workers who made them. To combat what he saw as a chronic deficiency of purchasing power in the economy, Douglas prescribed governm

The spot market or cash market is a public financial market in which financial instruments or commodities are traded for immediate delivery. It contrasts with a futures market, in which delivery is due at a later date. In a spot market, settlement normally happens in T+2 working days, i.e., delivery of cash and commodity must be done after two working days of the trade date. A spot mar

In finance, statistical arbitrage (Stat Arb or StatArb) is a class of short-term financial trading strategies that employ mean reversion models involving broadly diversified portfolios of securities (hundreds to thousands) held for short periods of time (generally seconds to days). These strategies are supported by substantial mathematical, computational, and trading platforms.

In corporate law, a stock certificate (also known as certificate of stock or share certificate) is a legal document that certifies the legal interest (a bundle of several legal rights) of ownership of a specific number of shares (or, under Article 8 of the Uniform Commercial Code in the United States, a securities entitlement or pro rata share of a fungible bulk) or stock in a corporatio

A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments. Stock exchanges may also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividends. Securities traded on a stock

In finance and economics, systematic risk (in economics often called aggregate risk or undiversifiable risk) is vulnerability to events which affect aggregate outcomes such as broad market returns, total economy-wide resource holdings, or aggregate income. In many contexts, events like earthquakes, epidemics and major weather catastrophes pose aggregate risks that affect not only the dis

Taxes in Cyprus are levied by both the central and local governments. Tax revenue stood at 39.2% of GDP in 2012. The most important revenue sources are the income tax, social security, value-added tax and corporate tax, and are all collected by the central government.

Private equity funds and hedge funds are private investment vehicles used to pool investment capital, usually for a small group of large institutional or wealthy individual investors. They are subject to favorable regulatory treatment in most jurisdictions from which they are managed, which allows them to engage in financial activities that are off-limits for more regulated companies.

The Taylor rule is a monetary policy targeting rule. The rule was proposed in 1992 by American economist John B. Taylor for central banks to use to stabilize economic activity by appropriately setting short-term interest rates. The rule considers the federal funds rate, the price level and changes in real income. The Taylor rule computes the optimal federal funds rate based on the gap be

Toast, Inc. is an American cloud-based restaurant management software company based in Boston, Massachusetts. The company provides an all-in-one point of sale (POS) system built on the Android operating system.

Tobin's q (or the q ratio, and Marris's v), is the ratio between a physical asset's market value and its replacement cost. It was first introduced by Robin Marris as a firm-level microeconomic variable in his 1964 book The Economic Theory of Managerial Capitalism, and was shortly afterwards further analysed by Richard Kahn in early drafts of his paper Notes on the Rate of Interest and th

The trade-weighted US dollar index, also known as the broad index, was a measure of the value of the United States dollar relative to other world currencies. It was a trade weighted index that improved on the older U.S. Dollar Index by incorporating more currencies and yearly rebalancing. The base index value was 100 in January 2006.

Treasury management (or treasury operations) entails management of an enterprise's financial holdings, focusing on the firm's liquidity, and mitigating its financial, operational and reputational risk.

The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States. It is one of 15 current U.S. government departments. The treasury executes currency circulation in the domestic fiscal system, collects all federal taxes through the Internal Revenue Service, manages U.S. government debt, licenses and supervises banks and

The United States dollar (symbol: $; currency code: USD) is the official currency of the United States (U.S.) and several other countries. The U.S. Coinage Act of 1792 established the dollar as the base unit, with each dollar divided into 100 cents (symbol: ¢). U.S. banknotes are issued in the form of Federal Reserve Notes, popularly called greenbacks due to their predominantly green col

An upfront is a gathering at the start of important advertising sales periods, held by network and streaming executives and attended by major advertisers and the media. Where once the Upfronts were all about the television industry, it has expanded to include streaming platforms. It is so named because of its main purpose, to allow marketers to buy television commercial airtime "up front

Vendor finance is a form of lending in which a vendor, instead of a bank or financial institution, lends money to be used by the borrower to buy the vendor's products or property. Vendor finance is usually in the form of deferred loans from, or shares subscribed by, the vendor. The vendor often takes shares in the borrowing company. This category of finance is generally used where the ve

A venture capital trust or VCT is a tax efficient UK closed-end collective investment scheme designed to provide venture capital for small expanding companies, and income (in the form of dividend distributions) and/or capital gains for investors. VCTs are a form of publicly traded private equity, comparable to investment trusts in the UK or business development companies in the United St

A vulture fund is a hedge fund or private-equity fund that invests in debt considered to be very weak or in default, known as distressed debt. Investors in the fund profit by buying debt at a discounted price on a secondary market and then using numerous methods to sell the debt for more than the purchasing price. Debtors include companies, countries, and individuals.

Web3 is an idea for a new iteration of the World Wide Web which incorporates concepts such as decentralization, blockchain technologies, tokenomics, and privacy-enhancing technologies. The term is sometimes confused with the Semantic Web, as both have sometimes been referred to as "Web 3.0". Some technologists and journalists have contrasted it with Web 2.0, in which they say user-genera

The Joint Committee on Finance or Joint Finance Committee (JFC) is a powerful joint committee of the Wisconsin Legislature, responsible for overseeing all legislation dealing with state income or spending in the U.S. state of Wisconsin. It also controls final approval of many state payments and assessments, even after legislation has become law. Because of its prominent role in state f

The President's Working Group on Financial Markets, known colloquially as the Plunge Protection Team, or "(PPT)" was created by Executive Order 12631, signed on March 18, 1988, by United States President Ronald Reagan.

World, also known as World Network, is a humanity verification project and financial network. It was developed and launched as the cryptocurrency project Worldcoin. Among other organizations, contributors to the project include Tools for Humanity, a company founded in 2019 by Sam Altman, Max Novendstern, and Alex Blania. World's stated mission is to provide a reliable and anonymous way t