Industry WIKI

Reference Re Securities Act [2011] 3 S.C.R. 837, 2011 SCC 66 is a landmark opinion of the Supreme Court of Canada to a reference question posed on the extent of the ability of the Parliament of Canada to use its trade and commerce power.

Remitly is an American online remittance service based in Seattle, United States that offers international money transfers to over 170 countries. It was founded in 2011 by Matthew Oppenheimer, Josh Hug, and Shivaas Gulati and became publicly traded on the Nasdaq exchange in September 2021.

Renminbi currency value is a debate affecting the Chinese currency unit, the renminbi (Chinese: 人民币 Code:CNY). The renminbi is classified as a managed floating exchange rate currency "with reference to a basket of currencies", which has drawn attention from nations which have freely floated currencies and has become a source of trade friction with Western nations.

In mathematical finance, a replicating portfolio for a given asset or series of cash flows is a portfolio of assets with the same properties (especially cash flows). This is meant in two distinct senses: static replication, where the portfolio has the same cash flows as the reference asset (and no changes need to be made to maintain this), and dynamic replication, where the portfolio doe

The Republika Srpska Securities Commission (Serbian: Комисија за хартије од вриједности Републике Српске or Komisija za hartije od vrijednosti Republike Srpske) is a financial services regulator in Republika Srpska, Bosnia and Herzegovina. It is based in the city of Banja Luka.

Residential mortgage-backed security (RMBS) are a type of mortgage-backed security backed by residential real estate mortgages.

Restricted stock, also known as restricted securities, is stock of a company that is not fully transferable (from the stock-issuing company to the person receiving the stock award) until certain conditions (restrictions) have been met. Upon satisfaction of those conditions, the stock is no longer restricted, and becomes transferable to the person holding the award. Restricted stock is of

Retail foreign exchange trading is a small segment of the larger foreign exchange market where individuals speculate on the exchange rate between different currencies. This segment has developed with the advent of dedicated electronic trading platforms and the internet, which allows individuals to access the global currency markets. As of 2016, it was reported that retail foreign exchang

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.

In finance, a reverse stock split or reverse split is a process by which shares of corporate stock are effectively merged to form a smaller number of proportionally more valuable shares.

Riba (Arabic: ربا ,الربا، الربٰوة, ribā or al-ribā, IPA: [ˈrɪbæː]) is an Arabic word used in Islamic law and roughly translated as "usury": unjust, exploitative gains made in trade or business (especially banking). Riba is mentioned and condemned in several different verses in the Qur'an (3:130, 4:161, 30:39, and the commonly referenced 2:275-2:280). It is also mentioned in many hadith (

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.

Risk of ruin is a concept in gambling, insurance, and finance relating to the likelihood of losing all one's investment capital or extinguishing one's bankroll below the minimum for further play. For instance, if someone bets all their money on a simple coin toss, the risk of ruin is 50%. In a multiple-bet scenario, risk of ruin accumulates with the number of bets: each play increases th

Risk parity (or risk premia parity) is an approach to investment management which focuses on allocation of risk, usually defined as volatility, rather than allocation of capital. The risk parity approach asserts that when asset allocations are adjusted (leveraged or deleveraged) to the same risk level, the risk parity portfolio can achieve a higher Sharpe ratio and can be more resistant

Risk-adjusted return on capital (RAROC) is a risk-based profitability measurement framework for analysing risk-adjusted financial performance and providing a consistent view of profitability across businesses. The concept was developed by Bankers Trust and principal designer Dan Borge in the late 1970s. Note, however, that increasingly return on risk-adjusted capital (RORAC) is used as a

The risk-free rate of return, usually shortened to the risk-free rate, is the rate of return of a hypothetical investment with scheduled payments over a fixed period of time that is assumed to meet all payment obligations.

Robert Morris Jr. (January 20, 1734 – May 8, 1806) was a British-born American merchant, investor, and politician, and one of the Founding Fathers of the United States. Morris served in the Pennsylvania legislature, the Second Continental Congress, and the United States Senate. He was one of only two individuals (along with Roger Sherman) to sign the Declaration of Independence, the Arti

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

The Rosario Board of Trade (Spanish: Bolsa de Comercio de Rosario, BCR) is a non-profit making association based in Rosario, in the Province of Santa Fe, Argentina. Founded on August 18, 1884, it serves as a forum for the conduct of trade negotiations in several markets including grain, oilseed, agricultural products and their by-products, as well as securities and other assets.

The Russo-Iranian Bank (RIB), Russian: Русско-иранский банк, Persian: بانک روس و ایران), also known a Rusiranbank (Русиранбанк), known before 1935 as Banque Russo-Persane (Русско-персидский банк) or Ruspersbank (Русперсбанк), was a Soviet-sponsored bank headquartered in Tehran.

S&P 500 futures are financial futures which allow an investor to hedge with or speculate on the future value of various components of the S&P 500 Index market index. S&P 500 futures contracts were first introduced by the Chicago Mercantile Exchange in 1982. The CME added the e-mini option in 1997. The bundle of stocks in the S&P 500 is, per the name, composed of stocks of 500 large compa

SafeMoon LLC was an American cryptocurrency and blockchain company created in March 2021. The company created the SafeMoon token (SFM) which traded on the BNB Chain blockchain. The token charged a 10% fee on transactions, with 5% redistributed (or reflected) to token holders and 5% directed to wallets in a different currency, Binance Coin (BNB), controlled by the coin's authors. The toke

The Sage Group plc, commonly known as Sage, is a British multinational enterprise software company headquartered in Newcastle upon Tyne, England. It develops accounting, financial management, payroll and human-resources software, mainly for small and medium-sized businesses. Its products include Sage 50, Sage Intacct and Sage X3.

Saxo Bank is a Danish investment bank specialising in online trading and investment. It provides access to financial instruments, including Forex, stocks, CFDs, futures, funds, bonds and futures spreads through its SaxoInvestor and SaxoTrader platforms.

A scam center, fraud factory, fraud park, scam factory, scam compound, scam hub, scam park, fraud center, fraud compound, or fraud hub is a collection of large fraudulent organizations usually involved in human trafficking operations, generally found in Southeast Asia and usually operated by a criminal gang. Scam center operators lure foreign nationals to scam hubs, where they are forced

A seasoned equity offering (SEO) or capital increase is a new equity issued by an already publicly traded company. Seasoned offerings may involve shares sold by existing shareholders (non-dilutive), new shares (dilutive), or both. If the seasoned equity offering is made by an issuer that meets certain regulatory criteria, it may be a shelf offering.

The secondary market, also called the aftermarket, is the financial market in which previously issued financial instruments such as shares, bonds, options, and futures are bought and sold. The initial sale of the security by the issuer to a purchaser, who pays proceeds to the issuer, is the primary market. All sales after the initial sale of the security are sales in the secondary market

Sector rotation is a theory of stock market trading patterns.

The Securities and Exchange Commission of Pakistan (SECP; Urdu: سیکیورٹیز اینڈ ایکسچینج کمیشن آف پاکستان), formerly known as Company Law Administration, Company Law Board, and Corporate Law Authority, is the corporate legislative and financial regulatory agency of Pakistan whose objective is to develop a modern and efficient corporate sector and a capital market based on sound authority

A securities class action (SCA), or securities fraud class action, is a lawsuit filed by investors who bought or sold a company's publicly traded securities within a specific period of time (known as a “class period”) and suffered economic injury as a result of violations of the securities laws.

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

Securities market participants in the United States include corporations and governments issuing securities, persons and corporations buying and selling a security, the broker-dealers and exchanges which facilitate such trading, banks which safe keep assets, and regulators who monitor the markets' activities. Investors buy and sell through broker-dealers and have their assets retained b

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.

Self-fulfilling crisis refers to a situation that a financial crisis is not directly caused by the unhealthy economic fundamental conditions or improper government policies, but a consequence of pessimistic expectations of investors. In other words, investors' fear of the crisis makes the crisis inevitable, which justified their initial expectations.

Sell in May and go away is an investment strategy for stocks based on a theory (sometimes known as the Halloween indicator) that the period from November to April inclusive has significantly stronger stock market growth on average than the other months. In such strategies, stock holdings are sold or minimized at about the start of May and the proceeds held in cash (e.g. a money market fu

Settlement risk, also known as delivery risk or counterparty risk, is the risk that a counterparty (or intermediary agent) fails to deliver a security or its value in cash as per agreement after the first party has delivered the security or cash value. The term covers factors incidental to the settlement process that may suspend or prevent a trade from completing, even should the partie

The Shanghai Futures Exchange (SHFE; Chinese: 上海期货交易所) is a futures exchange in Shanghai, China formed from the amalgamation of the national level futures exchanges of China, the Shanghai Metal Exchange, Shanghai Foodstuffs Commodity Exchange, and the Shanghai Commodity Exchange in December 1999. It is a non-profit-seeking incorporated body under the China Securities Regulatory Commissio

Shape risk in finance is a type of basis risk when hedging a load profile with standard hedging products having a lower granularity. In other words, a commodity supplier wants to pre-purchase supplies for expected demand, but can only buy in fixed amounts that are bigger or smaller than the demand forecasted. This means it has to either over order or under order and make up the differe

A share (sometimes referred to as stock or equity) is a unit of equity ownership in the capital stock of a corporation. It can refer to units of mutual funds, limited partnerships, and real estate investment trusts. Share capital refers to all of the shares of an enterprise. The owner of shares in a company is a shareholder (or stockholder) of the corporation. A share expresses the owner

In finance, a share class or share classification are different types of shares in company share capital that have different levels of voting rights. For example, a company might create two classes of shares class A share and a class B share where the class A shares have fewer rights than class B shareholders. This may be done to maintain control of a company by a group of shareholders o

Share repurchase, also known as share buyback or stock buyback, is the reacquisition by a company of its own shares. It is an alternative way of returning money to shareholders than dividends. After a repurchase event, the company's stock price is now proportionally higher because of the smaller number of shares outstanding. Repurchases allow stockholders to potentially reduce taxes, by

Shared Interest Society Limited is a fair trade financial co-operative based in the United Kingdom formed in 1990. Today it provides credit and financial services to fair trade producers, retailers, importers and exporters throughout the world. Shared Interest works with both Fairtrade International (formerly known as Fairtrade Labelling Organizations or FLO) and the World Fair Trade Org

A shareholder (in the United States often referred to as a stockholder) refers to an individual or legal entity (such as another corporation, a body politic, a trust or partnership) who is registered by a corporation as the legal owner of shares of the corporations share capital. Both public companies and private corporation have shareholders. Shareholders may also be referred to as mem

In finance, the Sharpe ratio (also known as the Sharpe index, the Sharpe measure, and the reward-to-variability ratio) measures the performance of an investment such as a security or portfolio compared to a risk-free asset, after adjusting for its risk. It is defined as the difference between the returns of the investment and the risk-free return, divided by the standard deviation of the

In economics, a shock is an unexpected or unpredictable event that affects an economy, either positively or negatively. Technically, it is an unpredictable change in exogenous factors—that is, factors unexplained by an economic model—which may influence endogenous economic variables.

Shopify Inc. is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario, that operates a cloud e-commerce management platform (CEMP) for retail point-of-sale systems. The company has over five million customers and processed US$292.3 billion in transactions in 2024, of which 57% was in the United States. Major customers include Tesla, LVMH, Nestlé, PepsiCo, AB InBev,

In finance, being short in an asset means investing in such a way that the investor will profit if the market value of the asset falls. This is the opposite of the more common long position, where the investor will profit if the market value of the asset rises. An investor that sells an asset short is, as to that asset, a short seller.

Silver Thursday refers to the sharp collapse in the United States silver and silver futures markets on Thursday, March 27, 1980. The crisis followed a rapid rise in silver prices and the accumulation of a large long position by members of the Hunt family, principally Nelson Bunker Hunt and William Herbert Hunt, with Lamar Hunt involved to a lesser extent. The term is used both for the tr

The Single Euro Payments Area (SEPA) is a payment-integration system of the European Union that makes cross-border bank transfers in euros as fast, cheap, and simple as domestic payments. It allows individuals and businesses to make cashless euro transfers to any account within the zone using a single bank account and an International Bank Account Number, under the same basic conditions

In finance, a single-stock future (SSF) is a type of futures contract between two parties to exchange a specified number of stocks in a company for a price agreed today (the futures price or the strike price) with delivery occurring at a specified future date, the delivery date. The contracts can be later traded on a futures exchange.

A single-tier banking system is a policy framework under which all credit institutions coexist without distinction about the quality of their liabilities, or in other words, there is no distinction between central bank money and broad money. This setting is generally associated with communist economic systems.

In finance and the stock market, slippage is the difference between the execution price expected by the trader (usually the one indicated by the trading software) and the one at which the transaction actually happens. Market impact, liquidity, and frictional costs may contribute to slippage.

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

Social media in the financial services sector refers to the use of social media by the financial services sector to promote and distribute financial services. Social media is used in various aspects of the financial industry including customer service, marketing, and product development. It has enabled financial institutions to extend their reach through direct and real-time communicatio

Social trading is a form of investing that allows investors to observe the trading behavior of their peers and expert traders. The primary objective is to follow their investment strategies using copy trading or mirror trading. Social trading requires little or no knowledge about financial markets.

The Sortino ratio measures the risk-adjusted return of an investment asset, portfolio, or strategy. It is a modification of the Sharpe ratio but penalizes only those returns falling below a user-specified target or required rate of return, while the Sharpe ratio penalizes both upside and downside variance equally. Though both ratios measure an investment's risk-adjusted return, they do s

A sovereign wealth fund (SWF), or sovereign investment fund, is a state-owned investment fund that invests in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such as private equity funds or hedge funds. Sovereign wealth funds invest globally. Most SWFs are funded by revenues from commodity exports or from foreign exchange reser

SpareBank 1 is a Norwegian alliance and brand name for a group of savings banks. The alliance is organised through the holding company SpareBank 1 Gruppen AS owned by the participating banks. In total the alliance is Norway's second largest bank with total assets of NOK 625 billion, 352 branches and 6300 employees. The alliance has its head office in Oslo, Norway. The banks in the SpareB

A special-purpose acquisition company (SPAC; ), also known as a blank check company or a blind-pool stock offering, is a shell corporation listed on a stock exchange with the purpose of acquiring (or merging with) a private company, thus taking the private company public through a procedure which requires fewer regulatory filings and has fewer safeguards for investors than the initial pu

In economics, a speculative attack is a precipitous selling of untrustworthy assets by previously inactive speculators and the corresponding acquisition of some valuable assets (currencies, gold). The first model of a speculative attack was contained in a 1975 discussion paper on the gold market by Stephen Salant and Dale Henderson at the Federal Reserve Board. Paul Krugman, who visited

Spoofing is a disruptive algorithmic trading activity employed by traders to outpace other market participants and to manipulate markets. Spoofers feign interest in trading futures, stocks, and other products in financial markets creating an illusion of the demand and supply of the traded asset. In an order driven market, spoofers post a relatively large number of limit orders on one sid

In finance, a spot contract, spot transaction, or simply spot, is a contract of buying or selling a commodity, security or currency for immediate settlement (payment and delivery) on the spot date, which is normally two business days after the trade date. The settlement price (or rate) is called spot price (or spot rate). A spot contract is in contrast with a forward contract or futures

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, a spread option is a type of option where the payoff is based on the difference in price between two underlying assets. For example, the two assets could be crude oil and heating oil; trading such an option might be of interest to oil refineries, whose profits are a function of the difference between these two prices. Spread options are generally traded over the counter, rath

In finance, a spread trade (also known as a relative value trade) is the simultaneous purchase of one security and sale of a related security, called legs, as a unit. Spread trades are usually executed with options or futures contracts as the legs, but other securities are sometimes used. They are executed to yield an overall net position whose value, called the spread, depends on the di

Squarepoint Capital ("Squarepoint") is a global investment management firm headquartered in New York City & London. The firm is known for its quantitative finance approach to investing. Squarepoint has additional offices in Bangalore, Boston, Dubai, Geneva, Hong Kong, Houston, Jersey, London, Madrid, Montreal, New York, Paris, Singapore, and Zug.

A squeeze-out or squeezeout, sometimes synonymous with freeze-out, is the compulsory sale of the shares of minority shareholders of a joint-stock company for which they receive a fair cash compensation.

The standardized approach for counterparty credit risk (SA-CCR) is the capital requirement framework under Basel III addressing counterparty risk for derivative trades.

In the context of operational risk, the standardized approach or standardised approach is a set of operational risk measurement techniques proposed under Basel II capital adequacy rules for banking institutions.

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 macroeconomics, sterilization is action taken by a country's central bank to counter the effects on the money supply caused by a balance of payments surplus or deficit.

The sterling area (or sterling bloc, legally scheduled territories) was a group of countries that either adopted or pegged their currencies to the pound sterling.

The Steyler Bank is a German ethical-ecological bank using Christian finance principles that following the Steyler Missionare. It was founded in 1964 in Sankt Augustin, where it still has its headquarters, and creates funds from an ethical point of view. The Steyler Bank also has a branch in Austria.

Stocks (also capital stock, or sometimes interchangeably, shares) consist of all the shares by which ownership of a corporation or company is divided. A single share of the stock means fractional ownership of the corporation in proportion to the total number of shares. This typically entitles the shareholder (stockholder) to that fraction of the company's earnings, proceeds from liquidat

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

Stock dilution, also known as equity dilution, is the decrease in existing shareholders' ownership percentage of a company as a result of the company issuing new equity. New equity increases the total shares outstanding which has a dilutive effect on the ownership percentage of existing shareholders. This increase in the number of shares outstanding can result from a primary market off

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

A stock fund, or equity fund, is a fund that invests in stocks, also called equity securities. Stock funds can be contrasted with bond funds and money funds. Fund assets are typically mainly in stock, with some amount of cash, which is generally quite small, as opposed to bonds, notes, or other securities. This may be a mutual fund or exchange-traded fund. The objective of an equity fun

A stock market, equity market, or share market is the aggregation of buyers and sellers of stocks (also called as shares), which represent ownership claims on businesses; these may include securities listed on a public stock exchange as well as stock that is only traded privately, such as shares of private companies that are sold to investors through equity crowdfunding platforms. Invest

A stock market bubble is a type of economic bubble taking place in stock markets when market participants drive stock prices above their value in relation to some system of stock valuation.

Stock market data systems communicate market data—information about securities and stock trades—from stock exchanges to stockbrokers and stock traders.

Stock market equivalence is granted by the European Union to those countries whose stock markets are deemed to be 'equivalent' to those of the EU countries. On 3 January 2018, the EU implemented the "Markets in Financial Instruments Directive II" (colloquially known as "MiFID II") which required all European investment firms & traders to trade the shares of a company listed in the EU on

In finance, a stock market index or stock index is an index that measures the performance of a stock market, or of a subset of a stock market. It helps investors compare current stock price levels with past prices to calculate market performance.

In finance, a stock market index future is a cash-settled futures contract on the value of a particular stock market index. The turnover for the global market in exchange-traded equity index futures is notionally valued, for 2008, by the Bank for International Settlements at US$130 trillion.

Stock market prediction is the act of trying to determine the future value of a company stock or other financial instrument traded on an exchange. The successful prediction of a stock's future price could yield significant profit. The efficient market hypothesis suggests that stock prices reflect all currently available information and any price changes that are not based on newly reveal

A stock split or stock divide increases the number of shares in a company. For example, after a 2-for-1 split, each investor will own double the number of shares, and each share will be worth half as much. A stock split causes a decrease of market price of individual shares, but does not change the total market capitalization of the company: stock dilution does not occur.

The phrase street name securities or "nominee name securities" is used in the United States to refer to securities of companies which are held electronically in the account of a stockbroker or bank or custodian, similar to a bank account. The entity whose name is recorded as the legal owner of the securities is known as the "nominee owner," and that entity has ownership rights in the sec

In finance, a stress test is an analysis or simulation designed to determine the ability of a given financial instrument or financial institution to deal with an economic crisis. Instead of doing financial projection on a "best estimate" basis, a company or its regulators may do stress testing where they look at how robust a financial instrument is in certain crashes, a form of scenario

Style investing is an investment approach in which securities are grouped into categories, and portfolio allocation is based on selection among "styles" rather than among individual securities.

The SUCRE ([ˈsukɾe]; Spanish: Sistema Unitario de Compensación Regional, "Unified System for Regional Compensation") was a regional currency proposed for commercial exchanges between members of the regional trade bloc Bolivarian Alliance for the Americas (ALBA), which was created as an alternative to the Free Trade Agreement of the Americas (FTAA). The SUCRE was intended to replace the

Sustainalytics is a company that rates the sustainability of listed companies based on their environmental, social and corporate governance (ESG) performance. The company was born of a merger between Toronto-based Jantzi Research, which was founded in 1992 by Sustainalytics' current CEO Michael Jantzi, and its European counterpart. Following its acquisition of GES International on Januar

A swap execution facility (SEF) (sometimes swaps execution facility) is a platform for financial swap trading that provides pre-trade information (i.e. bid and offer prices) and a mechanism for executing swap transactions among eligible participants.

A swaption (a portmanteau of "swap" and "option") is an option granting its owner the right but not the obligation to enter into an underlying swap on specified terms at a future date. In practice the term is most commonly used for options on interest rate swaps, where the holder has the right to enter into a fixed-for-floating interest rate swap.

Swing trading is a speculative trading strategy in financial markets where a tradable asset is held for one or more days in an effort to profit from price changes or swings. A swing trading position is typically held longer than a day trading position, but shorter than buy-and-hold investment strategies that can be held for months or years. Profits can be sought by either buying an asse

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

In finance, systemic risk is the risk of collapse of an entire financial system or entire market, as opposed to the risk associated with any one individual entity, group or component of a system, that can be contained therein without harming the entire system. It can be defined as "financial system instability, potentially catastrophic, caused or exacerbated by idiosyncratic events or co

Systemically important financial market utilities (SIFMUs) are entities whose failure or disruption could threaten the stability of the United States financial system. To date eight entities in the U.S. have been officially designated SIFMUs.

In economics and finance, a Taleb distribution is the statistical profile of an investment which normally provides a payoff of small positive returns, while carrying a small but significant risk of catastrophic losses. The term was coined by journalist Martin Wolf and economist John Kay to describe investments with a "high probability of a modest gain and a low probability of huge losses

Tax loss harvesting (TLH) refers to a category of tax-efficient investment strategies that seek to accelerate the realization of capital losses and defer the realization of capital gains.