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Digital assets and currencies

Understand assets, networks and trading mechanics with sources you can check.

Securities & exchanges

Volatility risk

Volatility risk

Securities & exchanges

Volatility swap

In finance, a volatility swap is a forward contract on the future realised volatility of a given underlying asset. Volatility swaps allow investors to trade the volatility of an asset directly, much as they would trade a price index. Its payoff at expiration is equal to

Trading basics

Volcker Rule

The Volcker Rule is section 619 of the Dodd–Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. § 1851). The rule was originally proposed by American economist and former United States Federal Reserve chair Paul Volcker in 2010 to restrict United States banks from making certain kinds of speculative investments that do not benefit their customers. It was not implemented until

Trading basics

Volume risk

Volume risk, also known as quantity risk, is the risk of production or sales volumes materially and adversely deviating from their expected quantities. The term has context-specific applications.

Payments & settlement

Voucher

A voucher is a bond which is worth a certain monetary value and which may be redeemed only for specific reasons or on specific goods.

Securities & exchanges

Warrant (finance)

In finance, a warrant is a security that entitles the holder to buy or sell stock, typically the stock of the issuing company, at a fixed price called the strike price.

Payments & settlement

Warrant of payment

In financial transactions, a warrant is a written order by one person that instructs or authorises another person to pay a specified recipient a specific amount of money or supply goods at a specific date. A warrant may or may not be negotiable and may be a bearer instrument that authorises payment to the warrant holder on demand or after a specific date. Governments and businesses may p

Trading basics

Wealth inequality in the United States

The inequality of wealth (i.e., inequality in the distribution of assets) has substantially increased in the United States since the late 1980s. Wealth commonly includes the values of any homes, automobiles, personal valuables, businesses, savings, and investments, less any associated debts.

Securities & exchanges

Weather derivative

Weather derivatives are financial instruments that can be used by organizations or individuals as part of a risk management strategy to reduce risk associated with adverse or unexpected weather conditions. Weather derivatives are index-based instruments that usually use observed weather data at a weather station to create an index on which a payout can be based. This index could be total

Fiat currencies

Wise (company)

Wise, formerly known as TransferWise, is a British financial technology company focused on global money transfers and Business Finance. Headquartered in London, it was founded by Kristo Käärmann and Taavet Hinrikus in January 2011. As of 2023, it offers three main products: Wise Account, Wise Business, and Wise Platform.

Trading basics

WorldRemit

WorldRemit is a digital cross border remittance business that provides international money transfer and remittance services in more than 130 countries and over 70 currencies. It was founded in 2010 by Ismail Ahmed, Catherine Wines, and Richard Igoe. It is owned by Zepz, which also owns Sendwave.

Securities & exchanges

XVA

In mathematical finance, X-Value Adjustment (XVA, xVA) is an umbrella term referring to a number of different "valuation adjustments" that banks must make when assessing the value of derivative contracts that they have entered into. The purpose of these is twofold: primarily to hedge for possible losses due to other parties' failures to pay amounts due on the derivative contracts; but al

Securities & exchanges

Year-on-year inflation-indexed swap

A year-on-year inflation-indexed swap (YYIIS) is a standard derivative product over inflation rate. The underlying is a single consumer price index (CPI). The first swap of this kind was traded through the inter-dealer broker network in November 1999.

Finance

Yield (finance)

In finance, the yield on a security is a measure of the ex-ante return to a holder of the security. It is one component of return on an investment, the other component being the change in the market price of the security. It is a measure applied to fixed income securities, common stocks, preferred stocks, convertible stocks and bonds, annuities and real estate investments.

Securities & exchanges

Zero coupon swap

In finance, a zero coupon swap (ZCS) is an interest rate derivative (IRD). In particular it is a linear IRD, that in its specification is very similar to the much more widely traded interest rate swap (IRS).

Trading basics

Zero lower bound

The zero lower bound (ZLB) or zero nominal lower bound (ZNLB) is a macroeconomic problem that occurs when the short-term nominal interest rate is at or near zero, causing a liquidity trap and limiting the central bank's capacity for inflation targeting.

Securities & exchanges

Zero-coupon inflation swap

A zero-coupon inflation swap (ZCIS), also called a zero-coupon inflation-indexed swap (ZCIIS), is a standard derivative product whose payoff depends on the inflation rate realized over a given period of time. The underlying asset is a single consumer price index (CPI).

Payments & settlement

Zilch (company)

Zilch Technology Limited (known as Zilch) is a British multi-national direct-to-consumer payments network. Since April 2020, Zilch has been regulated by the UK's Financial Conduct Authority (FCA), obtaining a consumer credit license through the Regulatory Sandbox Programme. Zilch has its headquarters in London, UK, an office in Miami, US, and a technology hub in Krakow, Poland.