nyuuzyou/wikis huggingface dataset:
Naked short sale

A naked short sale is a type of market transaction. In a typical short sale, a trader sells borrowed shares in hopes of buying them cheaper later and profiting on the difference. A "naked" short is when traders sell shares without borrowing them first.
Naked short selling is not necessarily a violation of the federal securities laws or the SEC's rules. In certain circumstances, naked short selling contributes to market liquidity. For example, broker-dealers that make a market in a security generally stand ready to buy and sell the security on a regular and continuous basis at a publicly quoted price, even when there are no other buyers or sellers. Thus, market makers must sell a security to a buyer even when there are temporary shortages of that security available in the market. This may occur, for example, if there is a sudden surge in buying interest in that security, or if few investors are selling the security at that time. Because it may take a market maker considerable time to buy or arrange to borrow the security, a market maker engaged in bona fide market making, particularly in a fast-moving market, may need to sell the security short without having arranged to borrow shares. This is especially true for market makers in thinly traded, illiquid stocks such as securities quoted on the OTC Bulletin Board, as there may be few shares available to purchase or borrow at a given time.
Although no federal or state law directly criminalizes naked short selling, the SEC's Regulation SHO says a broker-dealer must have “reasonable grounds” to believe that it could borrow and deliver the security within three days. If the broker-dealer fails to deliver for 13 days, the regulation imposes a “close out” duty to purchase and deliver securities “of like kind and quantity.” 
Abusive naked short sales are transactions in which the trader intentionally fails to deliver the shares for settlement.
== History ==
On May 18 of 2010, German's financial regulator announced it would ban naked short-selling of eurozone government bonds and shares in 10 key German financial institutions until March 31 of 2011. It was not clear how Germany could enforce it effectively in the debt and CDS markets, which stretch across national borders. Germany's financial regulator said the ban was due to the extraordinary volatility in government bonds in the euro zone. Massive short-selling could have endangered the stability of the financial system, it said.
Germany's unilateral ban on naked short sales of securities caught other European Union governments unaware, drawing an angry response from France even as financial markets fretted that other countries might follow suit.
== References ==
Category:Market Terms
Category:Definitions
Category:MarketsWiki Page of the Day
Naked swaps

A naked swap is one in which participants run no risk of loss. The holder of a naked swap does not own the underlying asset (such as a bond), making the transaction a form of speculation. It is akin to buying fire insurance on your neighbor's house. If their house burns down the owner of the insurance policy gets paid.
Due to the moral hazard associated with these instruments there have been calls for greater regulation. Financier George Soros opined, "CDS are toxic instruments whose use ought to be strictly regulated: Only those who own the underlying bonds ought to be allowed to buy them."
Conversely, others consider CDS an important tool for hedging by increasing liquidity in the marketplace.
== References ==
Category:Swaps
Category:Naked Positions
Nancy Bohanon

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Nancy C. Bohanon is vice president, human resources, at National Futures Association. She joined NFA in 1989 and has headed NFA's Human Resources Department since 1999. She is responsible for NFA's HR policy and strategy, recruitment and talent management, employee compensation and benefits, employee relations and culture. NFA's board of directors appointed her to the position of vice president, human resources in 2020.
==Education==
Bohanon holds a master's degree in human resources and industrial relations from Loyola University Chicago and a bachelor's in social work from St. Mary's University (MN).
==References==	
Category:Regulators
Category:National Futures Association (NFA)
Category:Auditors
Category:Bios - Executives
Category:MarketsWiki Education World of Opportunity Speaker
Category:Chicago Stock Exchange - Former Employees
Nancy Davis

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Nancy Davis is the managing partner and chief investment officer of Quadratic Capital. Before founding Quadratic, she served as the director of derivatives across asset classes at AllianceBernstein.
 
Davis speaks frequently at industry events including SALT Las Vegas, Opal, HedgeWorld, AlphaHedge, Goldman Sachs, Citi, CBOE and IMN. She is a board member of the International Partners Committee and was a keynote speaker in China at the Asset Management Association’s annual conference. She is also a member of the board of Women in Derivatives as well as co-chair of that group's scholarship committee.
== Background ==
Davis began her career at Goldman Sachs and spent ten years at the firm, the last seven in the proprietary trading group. In 2003, she became Head of Credit, Derivatives and OTC Trading for the proprietary group. During her tenure at Goldman, she managed one of the largest buy side option portfolios in the world. She resigned from Goldman in January 2008 to join Highbridge as a portfolio manager. 
== Education ==
Davis holds a B.A. magna cum laude in Economics from George Washington University, where she was a recipient of the Presidential Academic Scholarship. 
== References ==
Nancy Kaplan

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Nancy Kaplan is a derivatives industry executive who currently serves as an advisor to the Tenzer Family Office. She is also a co-founder of the Women's Money Lab.
Previously, she was a vice president of business development for NYSE Euronext. She was responsible for supporting and developing US-based business for NYSE Liffe's core European futures exchange as well as NYSE Liffe US.
== Background ==
Before joining LIFFE in 2001, Kaplan held a variety of finance, marketing, product development, planning and strategy positions with the Chicago Board of Trade, the Chicago Mercantile Exchange and LETCO, a stock option specialist firm. Kaplan also held a COM membership at CBOT where she traded and brokered options on financial and agricultural futures contracts for over five years. 
Before and during the time she was a PhD candidate in Finance, Kaplan taught a variety of seminars and college courses on futures and options markets and trading. She was also assistant professor of Economics at Lake Forrest College during the 1995-1996 academic year. 
 
Kaplan is on the board of directors for Women In Listed Derivatives and acts as treasurer on the executive committee. 
== Education ==
Kaplan holds a masters of business administration in finance and accounting from the University of Chicago, Booth School of Business. She also holds an MS in business administration and finance from the University of Illinois.
== References ==	
Category:NYSE Euronext - Former Employees
Category:Women in Listed Derivatives
Category:University of Chicago
Category:CBOT - Former Staff
Category:CME - Former Employees
Category:LETCO - Former Employees
Category:Chicago Board of Trade
Category:CME Group
Nancy King

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Nancy King is chairwoman of the board of Green Exchange Holdings LLC. 
== Background ==
King also serves as the managing director of the commodities division and chief risk officer of global commodities at Morgan Stanley. She joined the company in 1986.
She initiated the US emissions trading effort for the bank in 2002 and took park in the creation of the Intercontinental Exchange (ICE). She served on its board from 2001 to 2003. 
== Education ==
King received her undergraduate in political science from Duke University in 1986.
== References ==
Category: Bios - Executives
Nancy L. Ashburn

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Nancy Ashburn is director of finance and administration at John J. Lothian & Co., a Chicago-based media firm serving the financial sector. She was named to the position in August 2015 after working for the firm for two years as an independent consultant. 
 
== Background ==
Ashburn began her career in 1989 as a staff accountant with KPMG. In 1992, she left the accounting firm to become a supervising senior accountant in the payroll department of McDonald's Corp., and later served as a financial analyst in franchisee accounting. She left accounting in 1996 to start a family, and soon after joined the music profession, as an independent piano instructor and preschool music director.
In 2013, she returned to the accounting profession as a financial consultant, and in 2015 was named finance director at John J. Lothian & Company. 
== Education ==
Ashburn, a Certified Public Accountant since 1989, holds a B.A. in accountancy from the University of Illinois at Urbana-Champaign.
== References ==
Category:John J. Lothian & Company, Inc.
Nancy Laethem Stern

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Nancy Laethem Stern is a Chicago-based listed derivatives executive lawyer who currently serves as managing director, general counsel at Simplex Investments LLC.
She was previously the general counsel and chief of staff of ABN AMRO Clearing Chicago LLC.
Previously, she was the chief executive officer and a board member at Allston Holdings LLC, the parent of the proprietary electronic trading firm Allston Trading. She was appointed to that role in August 2020, having previously served as COO and general counsel, as well as executive vice president and corporate secretary, at the firm.
Stern also serves as a member of the board of directors of exp Global Inc., a leading engineering and consulting firm with approximately 3,000 employees in 88 offices in the United States, Canada, Algeria and Vietnam.
== Background ==
Stern joined Allston in 2013 after more than 17 years as an attorney and partner at the law firms Katten Muchin Rosenman LLP and (previously) Gardner Carton & Douglas, now part of Drinker Biddle & Reath. She began her law career as a clerk for the Honorable Robert H. Cleland, U.S. District Judge in the Eastern District of Michigan.
== Education ==
Stern earned a Bachelor of Arts degree in economics, with distinction, and a Juris Doctor degree, both from the University of Michigan.
== References ==	
Category:Bios - Legal
Category:Lawyers
Category:Katten Muchin Rosenman LLP
Category:Katten Muchin Rosenman LLP - Former Employees
Category:Allston Trading - Former Employees
Category:ABN AMRO Clearing Chicago - Former Employees
Nancy Seah

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Nancy Seah is a Singapore-based energy derivatives trading and risk management executive who currently serves as the chief executive officer of Abaxx Exchange. 
== Background ==
Seah began her career in the energy field in the mid-90s when she joined BP. During her almost decade-long tenure there, she served as head of the EnRisk Derivatives Trading Team. 
In 2003, Seah moved to Goldman Sachs where she spent the next 14 years in the roles of managing director and head of Asia Pacific Commodities Sales. In 2018, Seah moved to Pavilion Energy, where she became executive vice president and co-head of their Trading Division. Then in 2020, she was named managing director of the newly formed Abaxx Exchange.
== Education ==
Seah holds a degree in chemical engineering from the National University of Singapore.
Category: Exchange Executives
Category: Pavilion Energy - Former Employees
Category: Goldman Sachs - Former Employees
Category: BP - Former Employees
Nancy Sutley

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Nancy Sutley was named to head the White House Council on Environmental Quality by president-elect Barack Obama in December 2008. 
Prior to taking the post, she served as deputy mayor for energy and environment for Los Angeles. She is also Mayor Antonio Villaraigosa's appointment to the Metropolitan Water District of Southern California board of directors.
Born on April 20, 1962 in New York, she also was an EPA official during the Clinton administration and a special assistant to the EPA administrator in Washington.
== Background ==
== Education ==
Sutley received an undergraduate degree from Cornell University and her masters degree in public policy from the Kennedy School of Government at Harvard University.
== References ==
Category:Bios - Executives
Nandini Sukumar

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Nandini Sukumar is chief executive officer of the World Federation of Exchanges (WFE), the global trade organization for securities and futures exchanges and CCPs. The WFE represents more than 200 exchanges and clearing houses globally.
Sukumar has been CEO of the WFE since March 2015. She previously served as acting chief executive officer from November 2014, having been recruited by the WFE Board as chief administrative officer in May 2014. She came to the WFE after a 14-year career at Bloomberg where she created, grew and ran their coverage of market structure, exchanges and UK regulation.
She was a journalist before joining WFE, having spent 14 years with Bloomberg News. 
On October 27 2014, the WFE announced that Hüseyin Erkan, would step down as CEO at the end of the month and that Sukumar would run the organization on a day-to-day basis until a replacement was found.
== Background ==
At Bloomberg, Sukumar covered market structure and exchange news, including such issues as electronic trading, securities regulation and post-trade issues. Among her first assignments after joining the news organization in 2000 was covering the transition of exchanges from privately held entities to public corporations. She later followed the industry through a period of consolidation in 2004-07.
She established Bloomberg's coverage of the Financial Services Authority in the U.K. and has also covered stock and bond markets and the mutual fund industry.
== Education ==
== References ==	
Category:Journalists
Category:Bloomberg - Former Employees
Category:World Federation of Exchanges
Category:Bloomberg - Former Employees
Nanex, LLC

Nanex, LLC is a Winnetka, IL based technology firm that provides a streaming market datafeed and related research and analysis for financial market participants. 
== History ==
The firm was founded in 2000 by Eric Scott Hunsader, an industry software developer who previously worked for such firms as Quote.com and CQG. 
Nanex's prominence increased in 2013 via its research, which focuses on high-frequency trading activity in fractions of seconds. In September 2013, Nanex published a report that pointed to an early release of the minutes from a meeting of the Federal Reserve. Nanex's study concluded that traders in Chicago must have received the minutes at least two milliseconds early. While subsequent analysis by other firms such as Virtu Financial have suggested why Nanex's analysis may be flawed, the issue has led to calls from regulators to study the matter more thoroughly.
== Products and Services ==
Nanex's chief product is NxCore, a software system that allows for desktop streaming of market data from Telvent DTN. The NxCore application programming interface (API) accepts all the quotes and trades transmitted by the equity and options which can transmit over 6,500,000 quotes per second, and 6 billion quotes per trading day. 
==Nanex Order Routing Simulation, May 2, 2013==
Nanex showed the following video simulation at the Wired Business Conference in May 2013. This six minute video shows 1/2 second of trading activity in the stock of Johnson&Johnson. THe video is meant to illustrate high frequency trading activity at the millisecond level.
<videoflash>rB5jJuMP84E&feature</videoflash>
== Key People ==
Eric Scott Hunsader, Founder and CEO
== References ==
Nanhua Futures

Nanhua Futures is a Hangzhou, China (map) headquartered futures brokerage firm founded in 1996. It is a full member of the Shanghai Futures Exchange (SHFE), Zhengzhou Commodity Exchange (CZCE), and Dalian Commodity Exchange (DCE); and is one of the first companies to gain general clearing member status of China Financial Futures Exchange (CFFEX).
Nanhua Futures has over 20 local offices in China and opened an office in Hong Kong in 2006, with permission from the Chinese Securities Regulatory Committee (CSRC).
== History ==
Nanhua Futures is a futures brokerage firm serving institutional, corporate or individual accounts and was established in 1996. It has registered capital of 450 million RMB and net capital of over 702 million RMB, according to its website.
The firm is a full member of the following exchanges:
*Shanghai Futures Exchange
*Zhengzhou Commodity Exchange 
*Dalian Commodity Exchange 
*China Financial Futures Exchange
It was the one of the first firms to have general clearing member status at the China Financial Futures Exchange.
Nanhua Futures has over 20 local offices in China and in 2006 was given regulatory approval by the Chinese Securities Regulatory Committee to open an office in Hong Kong.
In 2002, as the first company within the industry, Nanhua Futures successfully obtained ISO9001:2000 quality management system standard certification.
In 2001, Nanhua futures created the Futures Research Institute of the domestic Chinese futures industry in Hangzhou, China. It also established research centers in Peking, Shanghai, Shenzhen and Harbin.
== Products and Services ==
Nanhua Futures offers brokerage services to institutional, corporate or individual clients. It offers 24/7 service via telephone.
The firm offers training classes for clients. It also offers research from the Nanhua Futures Research Institute.
== Key People ==
*Luo Xufeng, CEO
*Yan Shuping, Executive, Head of Administration & HR
*Zhang Zijian, Executive, Head of Marketing
*Yu Wanru, Executive, Head of International Business
*Shi Zhenxing, Executive, Head of Investment Management
*Xia Jun, Executive
*Tang Qijun, Executive
== References ==
Category:Exchanges
Category:Futures Exchanges
Category:Chinese Futures Exchanges
Category:China
Nano (NANO)

Nano (NANO) is a cryptocurrency that is based on block lattice, which was designed by Colin LeMaheiu, the founder of the Nano Foundation. The technology was first used in a currency called Raiblocks, of which Nano is more or less the successor. The block lattice creates an individual blockchain for each transaction, allowing for faster transactions and cheaper mining.
With a market capitalization of about $211 million, Nano was the 35th largest cryptocurrency on April 15, 2019, according to CoinMarketCap, an online industry data reporting service. By the end o June 2021, its market capitalization had risen to about $662 million although its rank among cryptocurrencies had fallen to 88th place. 
== References ==
Category:Cryptocurrency
Category:Blockchain
Category:CryptoMarketsWiki
Narayana Kocherlakota

__NOTOC__ 
Narayana Kocherlakota is a former president of the Federal Reserve Bank of Minneapolis. He took the position on Oct. 8, 2009 and stepped down from the role on December 30, 2015.
As president, Kocherlakota served on the Federal Open Market Committee (FOMC), the policy making arm of the Federal Reserve System, consisting of the presidents of the 12 Federal Reserve banks and the members of the Board of Governors.
Kocherlakota has published more than 30 articles in academic journals. His work includes theoretical and empirical contributions to macroeconomics, monetary economics, financial economics and public finance.
== Background ==
Before becoming president of the Federal Reserve Bank of Minneapolis, Kocherlakota was a professor of Economics at the University of Minnesota, where he previously chaired the Economics department, and a consultant to the Federal Reserve Bank of Minneapolis. He was also a research associate at the National Bureau of Economic Research. From 1996 to 1998, he was a research staff member at the Minneapolis Fed.
== Education ==
Kocherlakota earned a Ph.D. in Economics from the University of Chicago in 1987 and an A.B. in Mathematics from Princeton in 1983.
== References ==
Category:Federal Reserve System
Nasdaq-100 Index options

In the security option arena, the Nasdaq-100 index option (NDX) is listed on the CBOE, AMEX, Boston Options Exchange, and International Securities Exchange. The contract is a modified market capitalization-weighted index representing 100 of the largest non-financial domestic and international issues listed on the Nasdaq Stock Market. The index was created in 1985 with a base value set to 250 on February 1 of that year. The index level subsequently was halved on January 3, 1994, after reaching a level of nearly 800 on December 31, 1993. Each of these four options exchanges list smaller Mini-Nasdaq-100 Index option‎s contracts (MNX), as well, which are 1/10 the size of NDX. 
Because these contracts are fungible, contract specifications at these exchanges mirror one another. 
== Product Specifications ==
Symbol 	NDX
Index Multiplier 	100
Price Interval 	Strike price intervals are at least $2.50 for certain near-the-money series in near-term expiration months when the Full-size or Mini Nasdaq 100 Index is at a level below 200, and 5 point strike price intervals for other options series with expirations up to one year, and at least 10 point strike price intervals for longer-term options.
Minimum Trading Increments 	The minimum trading increment for an options contract trading at less than $3.00 is $0.05. The minimum trading increment for an options contract trading at $3.00 or higher is $0.10.
Expiration Date 	Saturday following the third Friday of the expiration month.
Expiration Months 	Up to three near-term months followed by three additional months from the March quarterly cycle (March, June, September and December).
Exercise Style 	European
Last Trading Day 	Ordinarily ceases on the business day (usually a Thursday) preceding the day on which the exercise-settlement value is calculated.
Settlement Type 	A.M., cash settlement
Settlement Value 	The exercise-settlement value, NDS, is calculated based on the Nasdaq Official Opening Price (NOOP) for each of the component securities on the last business day before the expiration date (usually a Friday). In the event a component security in the Nasdaq 100 Index does not have a Nasdaq Official Opening Price on Settlement Day, the closing price from the previous trading day will be used to calculate the Settlement Value. The exercise-settlement amount is equal to the difference between the exercise-settlement value, NDS, and the exercise price of the option, multiplied by $100. Exercise will result in delivery of cash on the business day following expiration.
Position and Exercise Limits	There are no position and exercise limits on the Full-Size (NDX). The Mini (MNX) position and exercise limits are 750,000 contracts on the same side of the market. Position and Exercise limits are subject to change.
Trading Hours 	9:30 A.M. - 4:15 P.M. Eastern Time (New York time).
 
== References == 
== See Also ==
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Category:Stock index Options
Category:Indexes
Category:Options Contracts Traded on CBOE
Category:Options Contracts