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In January 2008, the bank Société Générale lost approximately €4.9 billion closing out positions over three days of trading beginning January 21, 2008, a period in which the market was experiencing a large drop in equity indices. The bank states these positions were fraudulent transactions created by Jérôme Kerviel, a trader with the company. The police stated they lacked evidence to cha

The flash crash of May 6, 2010, , also known as the crash of 2:45 or simply the flash crash, was a United States trillion-dollar flash crash (a type of stock market crash) which started at 2:32 p.m. EDT and lasted for approximately 36 minutes.

On 18 July, 2024, WazirX, an Indian cryptocurrency exchange, reported a cyberattack in which approximately US$234.9 million (around ₹2,000 crore) in digital assets were stolen from a multi-signature wallet used under a third-party custody arrangement with Liminal Custody. Global analysis later linked the attack to the Lazarus Group, a North Korea–associated threat actor targeting crypto

The 2025 Czech government Bitcoin scandal was a scandal in the Czech Republic that involved a donation of 468 Bitcoins to the country's Ministry of Justice. The Czech daily newspaper, Deník N, reported that the Minister of Justice, Pavel Blažek, accepted the donation from Tomáš Jiřikovský, which was worth one billion Czech koruna at the time (approximately $45,000,000 USD). Jiřikovský ha

Rangers is a professional football club in Scotland founded in 1872. The club entered financial difficulties during the late 2000s, and the club (trading as The Rangers Football Club plc) entered administration in February 2012. It owed substantial amounts to HM Revenue and Customs (HMRC), who subsequently refused to allow Rangers to exit administration via a company voluntary arrangemen

AMC Entertainment Holdings, Inc., doing business as AMC Theatres and commonly known as AMC (originally an abbreviation for American Multi-Cinema), is an American movie theater chain headquartered in Leawood, Kansas. AMC is the largest movie exhibition company in the United States, the largest in Europe and the largest throughout the world with approximately 860 theaters and 9,600 screens

Barnes & Noble Booksellers is an American bookseller with the largest number of retail outlets in the United States. The company operates approximately 600 retail stores across the United States.

Behavioral economics is the study of the psychological (e.g. cognitive, behavioral, affective, social) factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by traditional economic theory.

Bellevue Investments GmbH & Co. KGaA is a German holding company that controls numerous subsidiaries and investments domestically and abroad. The subsidiaries have different business models and are active in the fields of software, online services, entertainment and digital content, as well as real estate. The subsidiaries currently employ approximately 350 people.

The Berkshire Hathaway Annual Meeting is the annual shareholders meeting of Berkshire Hathaway Inc., held each May in Omaha, Nebraska. The event is also known as "Woodstock for Capitalists,". It has grown from a small gathering of approximately a dozen attendees in 1965 into one of the largest investor gatherings in the world, drawing up to 40,000 shareholders annually at its peak. It ho

In finance, the binomial options pricing model (BOPM) provides a generalizable numerical method for the valuation of options. Essentially, the model uses a "discrete-time" (lattice based) model of the varying price over time of the underlying financial instrument, addressing cases where the closed-form Black–Scholes formula is wanting, which in general does not exist for the BOPM.

The Black–Scholes or Black–Scholes–Merton model is a mathematical model for the dynamics of a financial market containing derivative investment instruments. From the parabolic partial differential equation in the model, known as the Black–Scholes equation, one can deduce the Black–Scholes formula, which gives a theoretical estimate of the price of European-style options and shows that t

Bruce Jay Wasserstein (December 25, 1947 – October 14, 2009) was an American investment banker, businessman, and writer. He was prominent in the mergers and acquisitions industry, credited with working on 1,000 transactions with a total value of approximately $250 billion.

California Pizza Kitchen, Inc. (CPK) is an American casual dining restaurant chain that specializes in California-style pizza. The restaurant was started in 1985 by attorneys Rick Rosenfield and Larry Flax in Beverly Hills, California, United States. California Pizza Kitchen introduced and popularized BBQ Chicken Pizza.

The Celtic currency of Britain were the various items and coins used as currency between approximately 200 BC and AD 60. The earliest currency consisted of various forms of iron bars. Coins were first imported in large numbers in around 150 BC and domestic minting began around 100BC. Coin production was largely ended by the Roman conquest of Britain, first by the Claudian invasion of AD

Centennial Communications and its subsidiaries (Centennial Wireless and Centennial de Puerto Rico) was a wireless and broadband telecommunications services provider in the United States, Puerto Rico, and the U.S. Virgin Islands. On March 13, 2007, Centennial Communications completed the sale of Centennial Dominicana to Trilogy International Partners for approximately $80 million in cash.

Century 21 Real Estate LLC is an American real estate agent franchise company founded in 1971. The system consists of approximately 14,000 independently owned and operated franchised broker offices in 86 countries and territories worldwide with over 147,000 sales professionals. Century 21 Real Estate is headquartered in Madison, New Jersey and is a division of Compass, Inc.

The China Construction Bank (CCB) is a Chinese partially state-owned multinational banking and financial services corporation headquartered in Beijing, China. It is one of the "big four" banks in China, and is the third largest bank in the world by total assets behind the Agricultural Bank of China and the Industrial and Commercial Bank of China. The bank has approximately 13,629 domesti

Coldwell Banker LLC is an American real estate franchise owned by Compass, Inc., with headquarters in Madison, New Jersey. It was founded in 1906 in San Francisco, and has approximately 3000 offices in 49 countries and territories. It publishes an annual house price guide, Home Listing Report. The company is not a bank; its name refers instead to a former managing partner.

In economics, a complete market (a.k.a. Arrow-Debreu market or complete system of markets) is a market with two conditions:

The Olympic Games are considered to be the world's foremost international sporting event with over 200 nations participating. It historically had the highest costs and expenses for the hosts, with the estimated cost of the 2016 Summer Games in Rio de Janeiro being at approximately US$11.1 billion.

Crack spread is a term used in the oil industry and futures trading for the differential between the price of crude oil and petroleum products extracted from it. The spread approximates the profit margin that an oil refinery can expect to make by "cracking" the long-chain hydrocarbons of crude oil into useful shorter-chain petroleum products.

A Credit valuation adjustment (CVA),

Del Monte Foods Inc. (trading as Del Monte Foods) is an American food production and distribution company and subsidiary of NutriAsia, headquartered in Walnut Creek, California. Del Monte Foods is one of the largest producers, distributors and marketers of branded processed food for the U.S. retail market, generating approximately $1.73 billion of annual sales. Its portfolio of brands in

Diners Club International Ltd. (DCI), founded as Diners Club, is a payment network owned by Capital One. Diners Club and its franchises are accepted in over 200 countries and territories. Card issuers operating in approximately 45 countries have exclusive individual licenses to issue cards on the Diners Club network in a given country.

The Edeka Group (German pronunciation: [ˈeːdeːka]) is the largest German supermarket corporation as of 2017, holding a market share of 25.3%. Founded in 1907, it currently consists of several co-operatives of independent supermarkets, all operating under the umbrella organisation Edeka Zentrale AG & Co KG, with headquarters in Hamburg. There are approximately 4,100 stores with the Edeka

Envy-free pricing is a kind of fair item allocation. There is a single seller that owns some items, and a set of buyers who are interested in these items. The buyers have different valuations to the items, and they have a quasilinear utility function; this means that the utility an agent gains from a bundle of items equals the agent's value for the bundle minus the total price of items i

FactSet Research Systems Inc., trading as FactSet, is an American financial data and software company headquartered in Norwalk, Connecticut, United States. The company provides integrated data and software. For fiscal year 2024, FactSet's total ASV and professional services revenues were $2.2 billion. FactSet's total market value is approximately $17 billion.

Fidelity National Information Services, Inc. (FIS) is an American financial technology company headquarterd in Jacksonville, Florida, which focuses on core banking, payments and capital markets. Annually, FIS facilitates the movement of roughly US$9 trillion through the processing of approximately 75 billion transactions in service to more than 20,000 clients around the globe.

The Four Freedoms is a series of four oil paintings made in 1943 by the American artist Norman Rockwell. The paintings—Freedom of Speech, Freedom of Worship, Freedom from Want, and Freedom from Fear—are each approximately 45.75 by 35.5 inches (116.2 by 90.2 cm), and are now in the Norman Rockwell Museum in Stockbridge, Massachusetts. The four freedoms refer to President Franklin D. Roose

Froneri International Limited is a British ice cream manufacturer with its headquarters in Leeming Bar, North Yorkshire, England. It is the second-largest producer of ice cream in the world by retail sales, after The Magnum Ice Cream Company, with the two companies together accounting for approximately 32% of total global retail sales.

The fundamental theorems of asset pricing (also: of arbitrage, of finance), in both financial economics and mathematical finance, provide necessary and sufficient conditions for a market to be arbitrage-free, and for a market to be complete. An arbitrage opportunity is a way of making money with no initial investment without any possibility of loss. Though arbitrage opportunities do exis

In January 2021, a short squeeze of the stock of the American video game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even fu

Gillig (formerly Gillig Brothers) is an American designer and manufacturer of buses. The company headquarters, along with its manufacturing operations, is located in Livermore, California (in the East Bay region of the San Francisco Bay Area). By volume, Gillig is the second-largest transit bus manufacturer in North America (behind New Flyer). As of 2013, Gillig had an approximate 31 per

Global Infrastructure Partners, LLC (GIP) is an American infrastructure investment fund making equity and selected debt investments across markets worldwide. GIP's main headquarters are located in New York City, U.S. and its equity investments are based on infrastructure assets in the energy, transport and water & waste sectors. GIP employs approximately 150 investment and operational pr

The global trade of secondhand clothing is a long-standing industry, which has been facilitated by the abundance of donated clothing in wealthy countries. This trade accounts for approximately 0.5% of the total value of clothing traded worldwide, while by weight it accounts for 5%. However, in some countries, imported used clothing constitutes the majority of clothing purchased and used.

Guggenheim Partners, Inc is an American global investment and advisory financial services firm headquartered in New York City that engages in investment banking, asset management, capital markets services, and insurance services. Guggenheim has approximately 2,000 employees. The firm has additional offices in Chicago, London, Los Angeles, and San Francisco. It facilitates deals in many f

Guy Hands (born 27 August 1959) is an English financier and investor. He is most notable as the founder and former chairman of Terra Firma Capital Partners, one of the largest private equity firms in Europe. Hands also was chairman of the UK music company EMI.

HyperVerse is a defunct cryptocurrency hedge fund (formerly HyperNation, then HyperFund, then HyperVerse in 2021). The collapse of the company resulted in approximately $1.3 billion in customer losses.

IASIS Healthcare, located in Franklin, Tennessee, was the for-profit owner and operator of medium-sized acute care hospitals in high-growth urban and suburban markets. IASIS owns or leases 17 acute care hospital facilities and one behavioral health hospital facility with a total of 3,581 licensed beds and has total annual net revenue of approximately $3.2 billion. These hospital facilit

In economics, incomplete markets are markets in which there does not exist an Arrow–Debreu security for every possible state of nature. In contrast with complete markets, this shortage of securities will likely restrict individuals from transferring the desired level of wealth among states.

Inflationism is a heterodox economic, fiscal, or monetary policy, that predicts that a substantial level of inflation is harmless, desirable or even advantageous. Similarly, inflationist economists advocate for an inflationist policy.

ISO/IEC 14443 Identification cards – Contactless integrated circuit cards – Proximity cards is an international standard that defines proximity cards used for identification, and the transmission protocols for communicating with it. The development of ISO/IEC 14443 began in the early 1990s, driven by the growing need for secure and efficient short-range wireless communication technologie

Jane Street Capital is an American electronic market making company headquartered in Manhattan, New York City. It is one of the largest market making firms in the United States along with Virtu and Citadel Securities. It employs approximately 3,000 people across its global offices, and trades across more than twenty countries.

John Law (pronounced [lɑs] in French in the traditional approximation of Laws, the colloquial Scottish form of the name; 21 April 1671 – 21 March 1729) was a Scottish-French economist and financier. He rose to power in France where he created a novel financial scheme for French public finances known as Law's System (French: le système de Law) with two institutions at its core, John Law's

JPay is a privately held information technology and financial services provider focused on serving the United States prison system. With headquarters in Miramar, Florida, the company contracts with state, county, and federal prisons and jails to provide technologies and services including money transfer, email, video visitation and parole and probation payments to approximately 1.5 mill

KGS, acronym for Kartlı Geçiş Sistemi (literally: Pass System with Card), was an electronic toll collection system of contactless smart card type available on toll roads and toll bridges in Turkey. It was abolished on 1 February 2013. The system was adopted to avoid traffic congestion at toll plazas. An alternative to KGS is the OGS system of radio-frequency identification (RFID) transpo

Knife money (Chinese: 刀币) is the name of large, cast, bronze, knife-shaped commodity money produced by various governments and kingdoms in what is now China, approximately 2,500 years ago. Knife money circulated in China between 600 and 200 BCE during the Zhou dynasty.

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

LPL Financial Holdings Inc. (commonly referred to as LPL Financial) was founded in 1989 and has been described as the largest independent broker-dealer in the United States. As of 2026, the company had more than 32,000 financial advisors, approximately US$2.3 trillion in client assets, including US$1.4 trillion in advisory assets. LPL Financial has main offices in Boston, Fort Mill, Aus

In Canada, the Maple Eight are the eight largest pension funds. The investment approach used by the Maple-8 is known globally as the 'Canadian model', in which they utilize a direct investment approach and internally manage their own assets and portfolios. Collectively, as of March 2026, the pension funds control approximately CA$2.7 trillion in assets under management (AUM), and they a

Mark E. Kingdon is a hedge fund manager and president of Kingdon Capital Management, a US investment management company with approximately $623 million in assets under management.

MarketAxess Holdings Inc., headquartered in New York City, operates electronic trading platforms used to trade bonds and other fixed income products. It has approximately 2,100 customers, all of which are either institutional investors (91.3% of 2025 volume) or broker-dealers (8.7% of 2025 volume).

Mathematical finance, also known as quantitative finance and financial mathematics, is a field of applied mathematics, concerned with mathematical modeling in the financial field.

Mifare (styled MIFARE by NXP or sometimes MiFare by other parties) is a series of integrated circuit (IC) chips used in contactless smart cards and proximity cards.

Mimeo.com, Inc. is a privately held Print on demand and digital distribution document company. It was the first to offer online printing and overnight delivery of complex documents and marketing materials. The company refers to itself as a technology company that prints. Customers utilize a proprietary online workflow connected to multiple print production, warehouse and distribution cen

The money flow index (MFI) is an oscillator that ranges from 0 to 100. It is used to show the money flow (an approximation of the dollar value of a day's trading) over several days.

NIQ (also known as NielsenIQ, formerly known as ACNielsen or AC Nielsen) is an American marketing research firm, with worldwide headquarters in Chicago, Illinois, United States. The company has approximately 30,000 employees and operates in more than 100 countries. NIQ acquired German market research firm GfK in 2023.

NXP Semiconductors N.V. is a Dutch semiconductor manufacturing and design company with headquarters in Eindhoven, Netherlands. It is the second-largest European semiconductor design and manufacturing company by market capitalization as of 2024. The company employs approximately 34,000 people in more than 30 countries and it reported revenues of $12.61 billion in 2024. The company's name

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 finance, the style or family of an option is the class into which the option falls, usually defined by the dates on which the option may be exercised. The vast majority of options are either European or American (style) options. These options—as well as others where the payoff is calculated similarly—are referred to as "vanilla options". Options where the payoff is calculated differe

Patron Capital Partners ("Patron") is a European private equity real estate fund with its main investment advisor, Patron Capital Advisers LLP based in London, United Kingdom. Patron Capital Partners represents approximately €4.0 billion of equity across several funds and related co-investments.

In corporate finance, the pecking order theory (or pecking order model) postulates that "firms prefer to finance their investments internally, using retained earnings, before turning to external sources of financing such as debt or equity" - i.e. there is a "pecking order" when it comes to financing decisions. The theory was first suggested by Gordon Donaldson in 1961 and was modified by

Investment in platinum is often compared in financial history to gold and silver, which were both known to be used as money in ancient civilizations. Experts posit that platinum is about 30 times scarcer than gold and approximately 100 times scarcer than silver, on the basis of annual mine production.

The general price level is a hypothetical measure of overall prices for some set of goods and services (the consumer basket), in an economy or monetary union during a given interval (generally one day), normalized relative to some base set. Typically, the general price level is approximated with a daily price index, normally the Daily CPI. The general price level can change more than on

A proximity card or prox card, also known as a key card or keycard, is a contactless card technology that can be read without being inserting into a reader device that was required by earlier developed contact type cards: magnetic stripe cards (credit cards, etc.). They are typically used as keycards for facilities access controls (doors, gates, etc.). In its simplest form, while being h

Proximity marketing is the localized Wireless distribution of advertising content associated with a particular place. Transmissions can be received by individuals in that location who wish to receive them and have the necessary equipment to do so.

In financial mathematics, the put–call parity defines a relationship between the price of a European call option and European put option, both with the identical strike price and expiry, namely that a portfolio of a long call option and a short put option is equivalent to (and hence has the same value as) a single forward contract at this strike price and expiry. This is because if the p

In financial economics, rational pricing is the assumption that asset pricing models must reflect the arbitrage-free price of the asset

The real interest rate is the rate of interest an investor, saver or lender receives (or expects to receive) after allowing for inflation. It can be described more formally by the Fisher equation, which states that the real interest rate is approximately the nominal interest rate minus the inflation rate.

The Rhode Island banking crisis took place in the early 1990s, when approximately a third of the U.S. state of Rhode Island's population lost access to funds in their bank accounts. The events were triggered by the failure of a Providence bank, Heritage Loan & Investment, due to long-term embezzlement by its president. News of its problems led to a bank run in which customers tried to wi

Richard Bruce Farleigh (born Richard Buckland Smith, 9 November 1960) is an Australian private investor and reality television personality. Farleigh featured in series 3 and 4 of the BBC's Dragons' Den. He currently resides in London, England.

In finance, the rule of 72, the rule of 70 and the rule of 69.3 are methods for estimating an investment's doubling time. The rule number (e.g., 72) is divided by the interest percentage per period (usually years) to obtain the approximate number of periods required for doubling. Although scientific calculators and spreadsheet programs have functions to find the accurate doubling time, t

SOFR Academy, Inc. is an American financial market infrastructure company focused on developing benchmark credit-spread infrastructure designed to complement risk-free reference rates in global capital markets. In connection with global reference rate reform and the transition away from the London Interbank Offered Rate (LIBOR), which underpinned approximately US$400 trillion in financia

Speedpass was a keychain radio-frequency identification (RFID) device introduced in 1997 by Mobil (which merged with Exxon to become ExxonMobil in 1999) for electronic payment. It was originally developed by Verifone. By 2004, more than seven million people possessed Speedpass tags, which could be used at approximately 10,000 Exxon, Mobil and Esso gas stations worldwide.

Sri Lanka has been involved with the World Bank since its initial entrance into the International Bank for Reconstruction and Development (IBRD) on August 29, 1950. Currently, Sri Lanka's quota in the IBERT is approximately 515.4 million dollars, thus allotting 5,846 votes or 0.25% of the total votes in the institution. Sri Lanka later became a member of the other institutions in the wor

State Street Corporation is an American multinational financial services and bank holding company headquartered at One Congress Street in Boston. It is the second-oldest continuously operating U.S. bank, tracing its roots to Union Bank, chartered in 1792. As of the third quarter of 2025, State Street is one of the world's largest asset managers and custodians, with approximately US$5.4 t

Stochastic calculus is a branch of mathematics that operates on stochastic processes. It allows a consistent theory of integration to be defined for integrals of stochastic processes with respect to stochastic processes. This field was created and started by the Japanese mathematician Kiyosi Itô during World War II.

The TFI Leap Card is a contactless smart card for automated fare collection overseen by the National Transport Authority (NTA) under the Transport for Ireland (TFI) brand.

The Vanguard Group, Inc. is an American registered investment adviser founded on May 1, 1975, and based in Malvern, Pennsylvania, with approximately $13.3 trillion in global assets under management as of 2025. It is the largest provider of mutual funds and the second-largest provider of exchange-traded funds (ETFs) in the world after BlackRock's iShares. In addition to mutual funds and E

TikTok Shop is an e-commerce feature of the video hosting service TikTok. Officially launched in September 2023, the feature enables users interested in starting a business and generating income to upload their curated products on TikTok for others to discover and purchase. Daily sales averaged approximately US$7 million in October 2023.As of October 2026, it has been estimated that 54 m

The Emirati dirham (symbol: ; currency code: AED; ;) Arabic: درهم إماراتي, abbreviation: د.إ in Arabic, Dh; is the official currency of the United Arab Emirates. Each dirham is subdivided into 100 fulus (singular is "fils"). It is pegged to the United States dollar at a constant exchange rate of approximately 3.67 AED to 1 USD. In March 2025, the UAE Central Bank announced the creation o

United Rentals, Inc. is an American equipment rental company, with about 16 percent of the North American market share as of 2022. It owns the largest rental fleet in the world with approximately 4,800 classes of equipment totaling about $20.59 billion in original equipment cost (OEC) as of 2025. The company has a combined total of 1,625 locations, including an integrated network of 1,50

Wealthfront Corporation is an American financial services company based in Palo Alto, California, founded by Andy Rachleff and Dan Carroll in 2008. As of September 2026, Wealthfront reported approximately $100 billion assets under management for more than 1.5 million clients.

World of Warcraft (WoW) is a 2004 massively multiplayer online role-playing (MMORPG) video game developed and published by Blizzard Entertainment for Windows and macOS. Set in the Warcraft universe, World of Warcraft takes place within the fictional planet Azeroth, approximately four years after the events of the previous game in the series, Warcraft III: The Frozen Throne. The game was

Yellow Pages Limited is a Canadian publication and internet services company that owns and operates Canadian properties and publications including Yellow Pages directories, YellowPages.ca, and Canada411.ca. Its online destinations reach approximately 9 million unique visitors monthly and its mobile applications for finding local citizens, downloaded more than 3 million times.