Industry WIKI

Gold repatriation is the process by which governments and central banks relocate sovereign gold reserves from foreign vaults back to domestic storage. Historically driven by bilateral trade reallocations or immediate security concerns, modern gold repatriation has evolved into an accelerating global trend. According to annual surveys by the World Gold Council, the proportion of central b

A green bond is a fixed-income financial instrument (bond) which is used to fund projects that have positive environmental benefits. When referring to climate change mitigation projects they are also known as climate bonds. Green bonds follow the Green Bond Principles stated by the International Capital Market Association (ICMA), and the proceeds from the issuance of which are to be used

The Halle aux blés (Wheats Exchange or Grains Exchange) was a circular building in central Paris used by grain traders built in 1763–1767, with an open-air interior court that was capped by a wooden dome in 1783, then by an iron dome in 1811. In a major reconstruction in 1888–1889 much of the structure was replaced and the building became the Bourse de commerce.

In economics, herd behavior is commonly observed in stock market and marketing.

The study of the history of marketing, as a discipline, is important because it helps to define the baselines upon which change can be recognised and understand how the discipline evolves in response to those changes. The practice of marketing has been known for millennia, but the term "marketing" used to describe commercial activities assisting the buying and selling of products or serv

The history of nicotine marketing stretches back centuries. Nicotine marketing has continually developed new techniques in response to historical circumstances, societal and technological change, and regulation. Counter marketing has also changed, in both message and commonness, over the decades, often in response to pro-nicotine marketing.

In economics, hot money is the flow of funds (or capital) from one country to another in order to earn a short-term profit on interest rate differences and/or anticipated exchange rate shifts. These speculative capital flows are called "hot money" because they can move very quickly in and out of markets, potentially leading to market instability.

The term hype culture refers to a cultural trend within contemporary consumer culture, that corresponds to the constant search of the last "big thing". This phenomenon circulates around the concept of expectation, more precisely it is characterized by an attitude of excessive and positive expectations that consumers attach to products, services or technological advancements which have ye

In economics, implicit contracts refer to voluntary and self-enforcing long term agreements made between two parties regarding the future exchange of goods or services. Implicit contracts theory was first developed to explain why there are quantity adjustments (layoffs) instead of price adjustments (falling wages) in the labor market during recessions.

In international economics and international political economy, the impossible trinity (also known as the trilemma, the monetary trilemma or the Unholy Trinity) is the view that it is impossible to have all three of the following at the same time:

An indenture is a legal contract that reflects an agreement between two parties. Although the term is most familiarly used to refer to a labor contract between an employer and a laborer with an indentured servant status, historically indentures were used for a variety of contracts, including transfers and rents of land and even peace agreements between rulers.

The information ratio measures and compares the active return of an investment (e.g., a security or portfolio) compared to a benchmark index relative to the volatility of the active return (also known as active risk or benchmark tracking risk). It is defined as the active return (the difference between the returns of the investment and the returns of the benchmark) divided by the tracki

Intangible asset finance (IP finance) is the branch of finance that uses intangible assets such as intellectual property (legal intangible) and reputation (competitive intangible) to gain access to credit. Like other areas of finance, intangible asset finance is concerned with the interdependence of value, risk, and time.

The interbank market is the top-level foreign exchange market where banks exchange different currencies. The banks can either deal with one another directly, or through electronic brokering platforms. The Electronic Broking Services (EBS) and Thomson Reuters Dealing are the two competitors in the electronic brokering platform business and together connect over 1000 banks. The currencies

In finance, an interest rate cap is a type of interest rate derivative in which the buyer receives payments at the end of each period in which the interest rate exceeds the agreed strike price. An example of a cap would be an agreement to receive a payment for each month the LIBOR rate exceeds 2.5%.

Interest rate parity is a no-arbitrage condition representing an equilibrium state under which investors compare interest rates available on bank deposits in two countries. The fact that this condition does not always hold allows for potential opportunities to earn riskless profits from covered interest arbitrage. Two assumptions central to interest rate parity are capital mobility and p

An interest-free economy or interest free economy is an economy that does not have pure interest rates.

In the theory of capital structure, internal financing or self-financing is using its profits or assets of a company or organization as a source of capital to fund a new project or investment. Internal sources of finance contrast with external sources of finance. The main difference between the two is that internal financing refers to the business generating funds from activities and as

Investment performance is the return on an investment portfolio, which can contain a single asset or multiple assets.

Islamic finance products, services and contracts are financial products and services and related contracts that conform with Sharia (Islamic law). Islamic banking and finance has its own products and services that differ from conventional banking. These include Mudharabah (profit sharing), Wadiah (safekeeping), Musharakah (joint venture), Murabahah (cost plus finance), Ijar (leasing), Ha

Jon Paul Ruggles (born November 28, 1973) is an American executive known for founding Monroe Energy and creating an internal trading house for Delta Air Lines that earned $420 million in trading profits in its first year. According to CNBC, Delta hired Ruggles as vice-president of fuel in 2011 to help right a fuel-hedge book that had been losing the airline money. He managed to generate

The Kagi chart (Japanese: かぎ足, romanized: kagiashi) is a chart used for tracking price movements and to make decisions on purchasing stock. It differs from traditional stock charts such as the Candlestick chart by being mostly independent of time. This feature aids in producing a chart that reduces random noise.

The Kapitalanlagegesetzbuch, abbreviated as KAGB, is the German Investment Code for investment management.

The King's shilling, sometimes called the Queen's shilling when the sovereign is female, is a historical slang term referring to the earnest payment of one shilling given to recruits to the armed forces of the United Kingdom in the 18th, 19th and 20th centuries, although the practice dates back to the end of the English Civil War. To "take the King's shilling" was to agree to serve as a

L3COS (Level 3 Consensus Operating System) is an algorithm for digitising processes based on Blockchain, which has a three-level structure and is distributed as Platform as a Service for state bodies and businesses. The algorithm is based on the blockchain, in which any decision made at any of the levels will become part of the common chain. The technology involves a three-level framewor

A labour-sponsored venture capital corporation (LSVCC), known alternately as labour-sponsored investment fund (LSIF) or simply retail venture capital (RVC), is a fund managed by investment professionals that invests in small to mid-sized Canadian companies. The Canadian federal government and some provincial governments offer tax credits to LSVCC investors to promote the growth of such c

A line break chart, also known as a three-line break chart, is a Japanese trading indicator and chart used to analyze the financial markets. Invented in Japan, these charts had been used for over 150 years by traders there before being popularized by Steve Nison in the book Beyond Candlesticks. The chart is made up of vertical blocks or bars called "lines", which indicate the market's di

A linked exchange rate system is a type of exchange rate regime that pegs the exchange rate of one currency to another. It is the exchange rate system implemented in Hong Kong to stabilise the exchange rate between the Hong Kong dollar (HKD) and the United States dollar (USD). The Macao pataca (MOP) is similarly linked to the Hong Kong dollar.

LME Copper is a group of spot, forward, and futures contracts, trading on the London Metal Exchange (LME), for delivery of Copper (Grade A), which can be used for price Hedging, physical delivery of sales or purchases, investment, and speculation.

LME Nickel refers to the spot, forward, and futures contracts, trading on the London Metal Exchange (LME) for primary nickel. These contracts are used for price hedging, physical delivery, investment, and speculation. Nickel futures contracts are used to hedge price risks and as a reference for prices. As of late 2024, LME nickel contracts were linked to approximately 230,000 tonnes of p

In China, a local government financing vehicle (LGFV) (Chinese: 地方政府融资平台) is an investment company formed by local governments to raise funds, usually by borrowing money to finance real estate development and other local infrastructure projects. They allow local governments to finance infrastructure projects while complying with laws prohibiting them from issuing bonds or having deficits

The London Gold Pool was the pooling of gold reserves by a group of eight central banks in the United States and seven European countries that agreed on 1 November 1961 to cooperate in maintaining the Bretton Woods System of fixed-rate convertible currencies and defending a gold price of US$35 per troy ounce by interventions in the London gold market.

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.

In investing and finance, the low-volatility anomaly is the observation that low-volatility securities have higher returns than high-volatility securities in most markets studied. In other words, assets whose prices or returns change wildly pay worse than assets whose prices or returns are steady. This is an example of a stock market anomaly since it contradicts the central prediction of

Macromarketing is an interdisciplinary field that studies marketing as a provisioning technology of society. It focuses on marketing-society interactions including such topics as marketing systems, aggregate consumer behavior, market regulation, social responsibility, justice and ethics in markets, and sustainable marketing. By comparison, "micromarketing" deals with how firms decide wha

Magic formula investing is an investment technique outlined by Joel Greenblatt that uses the principles of value investing.

In economics, market clearing is the process by which, in an economic market, the supply of whatever is traded is equated to the demand so that there is no excess supply or demand, ensuring that there is neither a surplus nor a shortage. The new classical economics assumes that in any given market, assuming that all buyers and sellers have access to information and that there is no "fric

Market microstructure is a branch of finance concerned with the details of how exchange occurs in markets. While the theory of market microstructure applies to the exchange of real or financial assets, more evidence is available on the microstructure in the financial field due to the availability of transactions data from them. The major thrust of market microstructure research examines

A Mefo bill (sometimes written as MEFO bill; German: Mefo-Wechsel) was a six-month promissory note, drawn upon the dummy company Metallurgische Forschungsgesellschaft ('Metallurgical Research Corporation'), devised by the German Central Bank President, Hjalmar Schacht, in 1934. These bills could be discounted by any German bank at any time, and these banks, in turn, could rediscount the

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

Metallism is the economic principle that the value of money derives from the purchasing power of the commodity upon which it is based. The currency in a metallist monetary system may be made from the commodity itself (commodity money) or it may use tokens (such as national banknotes) redeemable in that commodity. Georg Friedrich Knapp (1842–1926) coined the term "metallism" to describe

MetaTrader 4, also known as MT4, is an electronic trading platform widely used by online retail foreign exchange speculative traders. It was developed by MetaQuotes Software and released in 2005. The software is licensed to foreign exchange brokers who provide the software to their clients. The software consists of both a client and server component. The server component is run by the br

Microcredit is the extension of very small loans (microloans) to borrowers with limited access to traditional credit who typically do not have access to traditional banking services due to a lack of collateral, steady employment, and a verifiable credit history. The primary aim of microcredit is to support entrepreneurship, facilitate self-employment, and alleviate poverty, particularly

In finance, MIDAS (an acronym for Market Interpretation/Data Analysis System) is an approach to technical analysis initiated in 1995 by the physicist and technical analyst Paul Levine, PhD, and subsequently developed by Andrew Coles, PhD, and David Hawkins in a series of articles and the book MIDAS Technical Analysis: A VWAP Approach to Trading and Investing in Today's Markets. Latterly,

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

Military payment certificates, or MPC, was a form of currency used to pay United States (US) military personnel in certain foreign countries in the mid and late twentieth century. They were used in one area or another from a few months after the end of World War II until a few months after the end of U.S. participation in the Vietnam War – from 1946 until 1973. The certificates were made

The Ministry of Economy and Finance (MEF; Khmer: ក្រសួងសេដ្ឋកិច្ចនិងហិរញ្ញវត្ថុ, ALA-LC: Krasuang Seṭṭhakicc ning Hiraññavatthu) accounts for the administration of financial and economic policy and affair in the Kingdom of Cambodia. In accordance to the official website, the ministry was commissioned by the Royal Government of Cambodia to perform missions of guidances and administrations

The Ministry of Economy and Finance of Guinea is a department of the Government of Guinea in charge of public finances of Guinea.

The Ministry of Finance of Denmark (Danish: Finansministeriet) is a ministry in the Government of Denmark. Among other things, it is in charge of the government budget (subject to approval by the Danish parliament, Folketinget), paying government employees and improving efficiency in government administration. The current Finance Minister of Denmark is Nicolai Wammen.

The Ministry of Finance (Spanish: Ministerio de Hacienda) of El Salvador is the government ministry of El Salvador in charge of directing the fiscal policy on public resources, so that it promotes stability and sustainability of public finances.

The Ministry of Finance (MoF; Arabic: وزارة المالية) is a central government ministry of Iraq tasked with formulating financial policies of the state, preparing the general budget bill, and overseeing as well as managing public expenditure. The banks of Rafidain and Rasheed, as well several other enterprises, are operated by the ministry. It publishes a monthly report called the Open Bud

The Ministry of Finance (Arabic: وزارة المالية) is a Jordan government ministry responsible for public finances of the Hashemite Kingdom of Jordan in co-operation with the Central Bank of Jordan.

Ministry of Finance is one of the governmental bodies of Kuwait and part of the cabinet. It is concerned with the executive general administration of public financial affairs in the State of Kuwait. As of August 2025 the Acting minister is Dr. Sabeeh Al-Mukhaizeem.

The Ministry of Finance of Libya (Arabic: وزارة المالية ليبيا) is the finance ministry responsible for public finances of Libya.

The Ministry of Finance ((in French) Ministère des Finances) is the government ministry responsible for governing and managing the economy, national budget, public finances, and the financial activity of Mauritania.

Sierra Leone Ministry of Finance is a ministerial department of the Government of Sierra Leone, and is in charge of managing the revenue and finances of the Sierra Leone government. The ministry implements the economic policies and is responsible for public financial management. The ministry advises the President of Sierra Leone on economic issues. The headquarters of the Sierra Leone Mi

The Ministry of Finance (Somali: Wasaaradda Maaliyadda), abbreviated MOF, is a ministry of the Government of Somalia that is charged with the responsibility for government expenditure and revenue raising. The ministry's role is to develop economic policy and prepare the federal budget. The Ministry of Finance also oversees financial legislation and regulation. Each year in October, th

The Ministry of Finance of the Union of Soviet Socialist Republics (USSR) (Russian: Министерство финансов СССР), formed on 15 March 1946, was one of the most important government offices in the Soviet Union. Until 1946 it was known as the People's Commissariat for Finance (Russian: Народный комиссариат финансов – Narodnyi komissariat finansov, or "Narkomfin"). Narkomfin, at the all-Union

The Ministry of Finance and Economic Planning (MINECOFIN) is the ministry of the Government of Rwanda in charge of public finance and economic planning. It was created in 1997 by merging the Ministry of Finance and the Ministry of Planning.

The Ministry of Finance (Tajik: Вазорати молияи Ҷумҳурии Тоҷикистон) is the Tajikistani government ministry which oversees the public finances of Tajikistan.

The Ministry of Finance, Planning and Economic Development (MoFPED) is a cabinet-level government ministry of Uganda. Its mandate is to formulate sound economic and fiscal policies, mobilize resources for the implementation of government programmes, disburse public resources as appropriated by Parliament, and account for their use in accordance with national laws and international best p

The Ministry or Board of Revenue was one of the Six Ministries under the Department of State Affairs in imperial China.

The Ministry of the Treasury (大蔵省, Ōkura-shō; lit. 'the department of the great treasury') was a division of the eighth-century Japanese government of the Imperial Court in Kyoto, instituted in the Asuka period and formalized during the Heian period. The Ministry was replaced in the Meiji period.

Mirror trading is a trading selection methodology that can be carried out in both the foreign exchange and the stock markets; however, this is much more common in trading in the foreign exchange market.

"Monetae cudendae ratio" (also spelled "Monetæ cudendæ ratio"; English: "On the Minting of Coin" or "On the Striking of Coin"; sometimes, "Treatise on Money") is a paper on coinage by Nicolaus Copernicus (Polish: Mikołaj Kopernik). It was written in 1526 at the request of Sigismund I the Old, King of Poland, and presented to the Prussian Diet.

Monetary hegemony is an economic and political concept in which a single state has decisive influence over the functions of the international monetary system. A monetary hegemon would need:

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.

Monetary disequilibrium theory is a product of the monetarist school and is mainly represented in the works of Leland Yeager and Austrian macroeconomics. The basic concepts of monetary equilibrium and disequilibrium were, however, defined in terms of an individual's demand for cash balance by Mises (1912) in his Theory of Money and Credit.

Money burning or burning money is the purposeful act of destroying money. In the prototypical example, banknotes are destroyed by setting them on fire. Burning money decreases the wealth of the owner without directly enriching any particular party. It also reduces the money supply and (very slightly) slows down the inflation rate.

Mordor, also known as Mordor on Domaniewska Street (Polish: Mordor na Domaniewskiej), is a colloquial name for a financial district in the Mokotów district of Warsaw, Poland, within north Służewiec and west Ksawerów. The area is mostly composed of office buildings, including the headquarters of numerous domestic companies, and branches of many multinational corporations. Emerging in the

Narrow banking is a banking system that restricts commercial banks to hold only safe and liquid assets, like government bonds, against customer deposits, while prohibiting traditional lending activities. Under this model, banks function as custodians and payment processors, separate from the lending function performed by other financial intermediaries. The concept emerged as a response t

A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time, whose payer is usually named on the document. More specifically, it is a document contemplated by or consisting of a contract, which promises the payment of money without condition, which may be paid either on demand or at a future date. The term has different

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.

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.

In finance, a non-deliverable forward (NDF) is an outright forward contract or futures contract in which counterparties settle the difference between the contracted NDF price or rate and the prevailing spot price or rate on an agreed notional amount. It is used in various markets such as foreign exchange and commodities. NDFs are also known as forward contracts for differences (FCD).

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

OneChicago was a US-based all-electronic futures exchange with headquarters in Chicago, Illinois. The exchange offered approximately 12,509 single-stock futures (SSF) products with names such as IBM, Apple and Google. All trading was cleared through Options Clearing Corporation (OCC). The OneChicago exchange closed in September 2020.

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.

An order is an instruction to buy or sell on a trading venue such as a stock market, bond market, commodity market, financial derivative market or cryptocurrency exchange. These instructions can be simple or complicated, and can be sent to either a broker or directly to a trading venue via direct market access. There are some standard instructions for such orders.

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."

Pay at the pump is a system used at many filling stations, where customers can pay for their fuel by inserting a credit card, debit card, or fuel card into a slot on the pump, bypassing the requirement to make the transaction with the station attendant or to walk away from one's vehicle. A few areas have gas stations that use electronic tolling transponders as a method of payment, such a

The Revised Payment Services Directive (PSD2, Directive (EU) 2015/2366, which replaced the Payment Services Directive (PSD), Directive 2007/64/EC) is an EU Directive, administered by the European Commission (Directorate General Internal Market) to regulate payment services and payment service providers throughout the European Union (EU) and European Economic Area (EEA). The PSD's purpose

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 persona (also user persona, user personality, customer persona, buyer persona) in user-centered design and marketing is a semi-fictional characterization or representation of a typical customer segment or end user. Personas help marketers and designers focus their efforts by humanizing data into relatable profiles. Personas are one of the outcomes of market segmentation, where markete

In financial markets, a pivot point is a price level that is used by traders as a possible indicator of market movement. A pivot point is calculated as an average of significant prices (high, low, close) from the performance of a market in the prior trading period. If the market in the following period trades above the pivot point it is usually evaluated as a bullish sentiment, whereas

Point and figure (P&F) is a charting technique used in technical analysis. Point and figure charting does not plot price against time as time-based charts do. Instead it plots price against changes in direction by plotting a column of Xs as the price rises and a column of Os as the price falls.

The Policy Analysis Market (PAM), part of the FutureMAP project, was a proposed futures exchange developed, beginning in May 2001, by the Information Awareness Office (IAO) of the United States Defense Advanced Research Projects Agency (DARPA), and based on an idea first proposed by Net Exchange, a San Diego, California, research firm specializing in the development of online prediction

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

In finance, a portfolio is a collection of investments.

A portfolio manager (PM) is a professional responsible for making investment decisions and carrying out investment activities on behalf of vested individuals or institutions. Clients invest their money for future growth, such as a retirement fund, endowment fund, or education fund. PMs work with a team of analysts and researchers and are responsible for establishing an investment strateg

Post-money valuation is a way of expressing the value of a company after an investment has been made. This value is equal to the sum of the pre-money valuation and the amount of new equity.

The post-PC era was a market trend observed during the 2010s involving a decline in the sales of personal computers (PCs) in favor of post-PC devices, which include mobile devices such as smartphones and tablet computers as well as other mobile computers such as wearable and ubiquitous ones. These devices emphasize portability and connectivity, including the use of cloud-based services,

A postal order or postal note is a type of money order usually intended for sending money through the mail. It is purchased at a post office and is payable to the named recipient at another post office. A fee for the service, known as poundage, is paid by the purchaser. In the United States, this is known as a postal money order. Postal orders are not legal tender, but a type of promiss

Price action trading is about reading what the market is doing, so you can deploy the right trading strategy to reap the maximum benefits. In simple words, price action is a trading technique in which a trader reads the market and makes subjective trading decisions based on the price movements, rather than relying on technical indicators or other factors.

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.

A private investment in public equity, commonly known as a PIPE deal, involves selling of publicly traded common shares or some form of preferred stock or convertible security to private investors. It is an allocation of shares in a public company not through a public offering in a stock exchange. PIPE deals are part of the primary market. In the U.S., a PIPE offering may be registered w

A private placement agent or placement agent is a firm assisting fund managers in the alternative asset class (e.g., private equity, infrastructure, real estate, hedge funds, and venture capital) and entrepreneurs/private companies (e.g., start-ups and growth capital companies) seeking to raise private financing through a so-called private placement.

Product Control is a control and support function, responsible for ensuring accurate financial reporting for trading, lending and treasury desks.

Proof of personhood (PoP) is a means of resisting malicious attacks on peer-to-peer networks, particularly attacks that use multiple fake identities, otherwise known as a Sybil attack. Decentralized online platforms are particularly vulnerable to such attacks by their very nature, as notionally democratic and responsive to large voting blocks. In PoP, each unique human participant obtain