Information

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23Nov, 23

Closeout risk - Meaning

The risk that closeout proceedings pose to either party, in a set of bilateral transactions and in the event of a default in one of the parties. Close...

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23Nov, 23

Collateralized mortgage obligation (CMO) - Meaning

A security backed by a pool of pass-throughs , structured so that there are several classes of bondholders with varying maturities, called tranches. T...

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23Nov, 23

Cost, Insurance and Freight (CIF) - Meaning

A trade term requiring the seller to arrange for the carriage of goods by sea to a port of destination and provide the buyer with the documents necess...

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23Nov, 23

Custodian - Meaning

An agent, bank, trust company or other organisation which holds and safeguards an individual's, mutual fund's or investment company's assets for them....

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23Nov, 23

Depository transfer check (DTC) - Meaning

Check made out directly by a local bank to a particular firm or person....

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23Nov, 23

Depository Trust Company (DTC) - Meaning

DTC is a user-owned securities depository which accepts deposits of eligible securities for custody, executes book-entry deliveries and records book-e...

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23Nov, 23

Depository Trust and Clearing Corporation (DTCC) - Meaning

A holding company consisting of five clearing corporations and one depository, making it the world's largest financial services corporation dealing in...

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16Nov, 23

General cash offer - Meaning

A public offering made to investors at large....

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15Nov, 23

Accumulated Benefit Obligation (ABO) - Meaning

An approximate measure of the liability of a plan in the event of a termination at the date the calculation is performed. Related: projected benefit o...

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15Nov, 23

Affirmation - Meaning

The process by which two counterparties verify that they agree upon the primary economics of a trade. The affirmation process may be done by telephone...