thegoodfellas/blogset-br huggingface dataset:
underlying stock's market price. Also put option with an exercise price substantially above the underlying stock's market price. Often substantially below is defined as more than one strike price below (for calls)/above (for puts) the current value of the underlying security. Deep out of the money A call option with an exercise price substantially above the market price. Also put option with an exercise price substantially below the underlying stock's market price. Often substantially below is defined as more than one strike price below (for calls)/above (for puts) the current value of the underlying security. Default The failure to make timely payment of interest or principal on a debt security or to otherwise comply with the provisions of a bond indenture. A breach of a covenant. In context of project financing, a technical default signals a project parameter is outside defined or agreed limits or a legal matter is not yet resolved. Default interest A higher interest rate payable after default. Default premium A differential in promised yield that compensates the investor for the risk inherent in purchasing a corporate bond that entails some risk of default. Often the premium is measured as the yield over and above a government bond yield of similar coupon and maturity. Default risk The risk that an issuer of a bond may be unable to make timely principal and interest payments. Also referred to as credit risk (as gauged by commercial rating companies). Defeasance The setting aside by a borrower of cash or bonds sufficient to service the borrower's debt. Both the borrower's debt and the offsetting cash or bonds are removed from the balance sheet. In securities trading, where a clearing house becomes counterparty to each side of a trade, after the trade has been agreed. This is necessary to facilitate netting, and reduce counterparty risk exposure. The term has become popular recently, because of the growth of central counterparty clearing services in European cash equities markets. Defensive securities Low-risk stocks or bonds that will provide a predictable and safe return on an investor'smoney. Deferred account A type of account that delays taxes on that account until some later date. An example is an IRA account. Deferred annuities Tax-advantaged life insurance products. Deferred annuitiesoffer deferral of taxes with the option of withdrawing one's funds in the form of a life annuity. Deferred call A provision that prohibits the company from calling the bond before a certain date. During this period the bond is said to be call protected. Deferred charge An expenditure treated as an asset that carries forward until it becomes pertinent to the business at hand, e.g., the underwriting fees on a corporate bond issue, which the corporation capitalizes as a deferred charge and then amortizes over the life of the bond issue. Deferred compensation An amount that has been earned but is not actually paid until a later date, typically through a payment plan, pension, or stock option plan. Deferred equity A common term for convertible bonds, which recognizes their equity component and the expectation that the bond will ultimately be converted
listing on an exchange because the firm has not abided by specific regulations. Deliver The sale of a futures or forward contract may require the seller to deliver the commodity during the delivery month, if the short position is not offset prior to that time. Deliverable bills The Treasury bills that fulfill a set of guidelines set forth by the exchange on which the bills are traded. Deliverable instrument The asset in a forward contract that will be delivered in the future at an agreed-upon price. Delivered at Frontier (DAF) Seller must supply the goods at his or her own risk and expense delivered to a named place (usually a border location) by a specified time. The buyer is responsible for the importation. This is normally is used with rail, truck, or multi-modal shipments. Delivered Duty Paid (DDP) Seller must supply the goods at his or her own risk and expense to a named place in the country of importation. The seller is responsible for importation, payment of duty, and on carriage to the location agreed upon with the buyer. Delivered Duty Unpaid (DDU) Seller fulfills the contractobligations when the goods have arrived at a named place in the importing country. The seller bears all the costs and risk except for import duties and other customs clearance costs. Delivered Ex Ship (DES) Seller fulfills the contractobligations when the goods have been made available to the buyer on board a ship at the named port of destination. The seller must bear all costs and risks associated in bringing the goods to the named port of destination. The buyer is responsible for all costs necessary to unload the goods and clear them through customs. Unloading costs are included the ocean freight charged by most ship lines. The DES is most often used for charter shipments. Delivered Ex Quay (DEQ) Seller fulfills the contractobligations to deliver when the goods are made available to the buyer at the wharf of the destination port. A DEQ can further specify "Duty Paid" or "Duty Unpaid." If "Duty Paid" is specified, the seller is responsible for all risks and costs, including duty, to the wharf of the destination port. If "Duty Unpaid" is specified, the buyer is to clear the goods and pay duty. Since unloading costs are included in the ocean freight charged by most ship lines. This is most often used for charter shipments. Delivery The tender and receipt of an actual commodity or financial instrument in settlement of a futures contract. Delivery date Date by which a seller must fulfill the obligations of a forward or futures contract. Delivery notice The written notice given by the seller of its intention to make delivery against an open, shortfutures position on a particular date. Related: Notice day. Delivery options The options available to the seller of an interest ratefutures contract, including the quality option, the timing option, and the wild card option. Delivery options mean that the buyer is uncertain of which Treasury bond will be delivered or when it will be delivered. Delivery points Locations designated by
futures exchanges at which the financial instrument or commodity covered by a futures contract may be delivered in fulfillment of such a contract. Delivery price The price fixed by the clearinghouse at which deliveries on futures are invoiced; also the price at which the futures contract is settled when deliveries are made. Delivery versus payment A in which the buyer's payment for securities is due at transaction the time of delivery (usually to a bank acting as agent for the buyer) upon receipt of the securities. The payment may be made by bank wire, check, or direct credit to an account. Delphi technique Collection of independent opinions without group discussion by the analysts providing the opinions; used for various sorts of evaluations (such as country risk assessment). Dependent variable Term used in regression analysis to represent the element or condition that is dependent on values of one or more other independent variables. Delta The ratio of the change in price of an option to the change in price of the underlying asset. Also called the hedge ratio. Applies to derivative products. For a call option on a stock, a delta of 0.50 means that for every $1.00 that the stock goes up, the option price rises by $0.50. As options near expiration, in-the-money call option contracts approach a delta of 1.0, while in-the-moneyput options approach a delta of -1. See: hedge ratio, neutral hedge. Call deltas range from 0.00 to +1.00; put deltas range from 0.00 to -1.00. If the call delta is 0.69, the put delta is -0.31 (call delta minus 1 equals put delta; 0.69 -1 =-0.31). Delta cross-hedge A futures hedge that has both maturity and currency mismatches with an underlying exposure. Delta hedge A dynamic hedgingstrategy using options that calls for constant adjustment of the number of options used, as a function of the delta of the option. Delta neutral Describes value of a portfolio not affected by changes in the value of the asset on which the options are written. Delta Spread A ratio spread that is established as a neutral position by utilizing the deltas of the options involved. The neutral ratio is determined by dividing the delta of the purchased option by the delta of the written option. See also Ratio Spread and Delta. Demand deposits Checking accounts that pay no interest and from which funds can be withdrawn upon demand. Demand line of credit A bank line of credit that enables a customer to borrow on a daily or on-demand basis. Demand loan A loan which can be called by the lender at any time and carries no set maturity date. Demand master notes Short-termsecurities that are repayable immediately upon the holder's demand. Demand-pull inflation A theory of inflation or price increases resulting from so-called excess demand. Related: Cost-push inflation. Demand shock An event that affects the demand for goods and services in an economy. Denomination Corresponds to the face value of currencyunits, coins, and securities. An international transaction may be denominated in US dollars, for example, or in British pounds. Dependent Acceptance of
than its principal value. If a discount bond pays no coupon, it is called a zero coupon bond. Discount broker A brokerage house featuring relatively low commission rates in comparison to a full-service broker. Discount factor Present value of $1 received at a stated future date. Discount payment The difference between the face value and the price paid for a security. Discount period The period during which a customer can deduct the discount from the net amount of the bill when making payment. Discount rate The interest rate that the Federal Reserve charges a bank to borrow funds when a bank is temporarily short of funds. Collateral is necessary to borrow, and such borrowing is quite limited because the Fed views it as a privilege to be used to meet short-term liquidity needs, and not a device to increase earnings. In context of NPV or PV calculations, the discount rate is the annual percentage applied. In the context of project financing, the discount rate is often the all-in interest rate or the interest rate plus margin. Discount securities Non-interest-bearing money marketinstruments that are issued at a discount and redeemed at maturity for full face value, e.g., US Treasury bills. Discount window Facility provided by the Fed enabling member banks to borrow reserves against collateral in the form of government securities or other acceptable paper. Discount yield The yield or annual interest rate on a security sold to an investor at a discount. A bond that is sold at $4875 that matures to $5000 has a discount of $125. To calculate the discount yield: (discount divided by the face value of the security) multiplied by the (number of days in the year divided by the number of days to maturity). Discounted basis To sell a debt instrument below maturity value, so that the difference makes up all or part of the interest. Discounted cash flow (DCF) Future cash flows multiplied by discount factors to obtain present values. Discounted dividend model (DDM) A formula to estimate the intrinsic value of a firm by figuring the present value of all expected future dividends. Discounted payback The length of time needed to recoup the present value of an investment. Discounted payback period rule An investment decision rule in which cash flows are discounted at an interest rate and then one determines how long it takes for the sum of the discounted cash flows to equal the initial investment. Discounted in/by market Unannounced information that is widely accepted or anticipated, and hence is already taken into account in the pricing of the security/market (e.g., poor earnings). Discounting Calculating the present value of a future amount. Discounting is opposite to compounding. Discounting the news An adjustment of a stock's price as speculatorsbid the price up or down in anticipation of news about the company, whether good or bad. Discrepancy Any deviation from the conditions stipulated in a letters of credit. Discrepancies void letter of credit protection. Discrete compounding Compounding the time value of money for separate time intervals. Discrete random variable A random variable that can take only
a certain specified set of individual possible values-for example, the positive integers 1, 2, 3, . . . For example, stock prices are discrete random variables, because they can only take on certain values, such as $10.00, $10.01 and $10.02 and not $10.005, since stocks have a minimum tick size of $0.01. By way of contrast, stock returns are continuous not discrete random variables, since a stock's return could be any number. Discrete variable Variable like 1, 2, 3. Bond ratings are examples of discrete classifications. Discretion Freedom given to the floor broker by an investor to use his judgment regarding the execution of an order. Discretion can be limited, as in the case of a limit order that gives the floor broker some distance from the stated limit price to use his judgment in executing the order. Discretion can also be unlimited, as in the case of a market-not-held order. See also: Market Not Held Order. Discretionary account Account over which an individual or organization, other than the person in whose name the account is carried, exercisestrading authority or control. Discretionary cash flow Cash flow that is available after the funding of all positive net present value (NPV)capital investment projects; it is available for paying cash dividends, repurchasing common stock, retiringdebt, and so on. Discretionary income The amount of income a consumer has available after purchasing essentials such as food and shelter. Discretionary order A type of buy order or sell order that gives the broker the freedom and power to make the execution at any time and price that is seen fit and reasonable, given the investor's goals. Discretionary Proposition A proposal on a proxy card that brokers can cast in favor of management if they have not yet heard from the beneficial holder ten days before the annual meeting. See: Ten-Day Rule Discretionary reserves Balance sheet accounts representing temporary accumulations of earnings from the current year or the recent past. Discretionary trust In the context of mutual funds, refers to a mutual fund or unit trust whose management decides on the best way to use the assets without restriction to a specific type of security. In the context of trusts, refers to a personal trust in which a trustee has the power of decision as to how much income or principal each beneficiary receives. Discriminate analysis A statistical process that links the probability of default to a specified set of financial ratios. Dishonor A refusal to pay. Disinflation A decrease in the rate of inflation. Disintermediation Withdrawal of funds from a financial_institution in order to invest them directly. Disinvestment A reduction in capital investment reflected by a decrease in capital goods and a company's decision not to replace depleted capital goods. Disorderly Market A characterization of market conditions whereby there is excessive volatility at a time when there is no news. The volatility is often caused by order imbalances. In some markets, shorts trying to cover can cause disorderly conditions. If disorderly conditions arise, sometimes trading is halted. Disposable income The amount of personal income an individual has after
ex-dividend date in order to collect the dividends paid out by the stock and capture a tradeprofit. Dividend trade roll/play Used for listed equity securities. Method of buying and selling stocks around their ex-dividend dates so as to collect the dividend (which is 80% tax-exempt) offset by a fully-taxable capital loss. Predicated on the 80% current exemption that some corporations receive on dividend income. Dividend yield (Funds) Indicated yield represents return on a share of a mutual fund held over the past 12 months. Assumes fund was purchased a year ago. Reflects effect of sales charges (at current rates), but not redemption charges. Dividend yield (Stocks) Indicated yield represents annual dividends divided by current stockprice. Dividends payable The declareddividend dollar amount that a company is obligated to pay. Dividends per share Dividend paid for the past 12 months divided by the number of common sharesoutstanding, as reported by a company. The number of shares often is determined by a weighted average of shares outstanding over the reporting term. Dividends-received deduction A corporate tax deduction on income allowed by company A that is in ownership of shares of company B and receives dividends on the shares of company B. Divisor Used in construction of stock indices. Suppose there 10 stocks in an index, each worth $10 and the index is at 100. Now suppose that one of the stocks must be replaced with another stock that is worth $20. If no adjustment is made to the divisor, the total value of the index would be110 after the swapping. yet there should be no increase in value because nothing has happened other than switching the two constituents. The solution is to change the divisor; in this case from 1.00 to 1.10. Note that the value of the index, 110/1.1, is now exactly 100 - which is where it was prior to the swap. Direct foreign investment (DFI) Investment in real assets (such as land, buildings, or plants) outside one's own country. Direct Loan Program Fixed-rate loans offered by the Ex-Im Bank directly to the foreign buyer to purchase US capital equipment and services. DM Deutsche marks, the former currency of Germany. Do Not Increase (DNI) A restriction that an investor places on a good til' canceled order to prevent an order increase in the case of a stock dividend or stock split. Do Not Reduce Order (DNR Order) Limit order to buy or to sell, or a stop limit order to sell that is not to be reduced by the amount of an ordinary cash dividend on the ex-dividend date. A "do not reduce order" applies only to ordinary cash dividends, and not stock dividends or rights. Doctrine of sovereign immunity Principle that a nation may not be tried in another country without its consent. Documentary Collection A service provided by banks to sellers in obtaining payments. This service is usually transacted by the seller's bank through the buyer's bank, with the latter presenting the shipping documents to the buyer in exchange for payment or for signing a promissory note like instrument called a
who gives property or assets to someone else through the vehicle of a trust. Don't fight the tape Phrase advising not to trade against the markettrend. If stock prices are rising, do not sell. Don't know (DK, DKed) "Don't know the trade." A Street expression used whenever one party lacks knowledge of a trade or receives conflicting instructions from the other party. Also, an unscrupulous claim made by one party denying that the trade had been agreed to and made after the trade goes adversely against that party. Double auction market Systems by which listed securities are bought and sold through brokers on the securities exchanges, as distinguished from the OTC market, where trades are negotiated. Unlike the conventional auction with one auctioneer and many buyers, double auction markets consist of many sellers and many buyers. Double auction system A market consisting of many sellers and many buyers, as opposed to a conventional auction with one market maker and many buyers. Double-barreled Describes backing of the principal and interest of a smaller municipal revenue bond by a larger municipal entity. Double bottom A term used in technical analysis to refer to the drop of a stock's price, a rebound, and then a drop back to the same level as the original drop. Double-declining-balance depreciation method (DDB) An accounting methodology in which the depreciation rate used is double the rate used under the straight-line method. In addition, the rate is applied to the full purchase cost of the asset, whereas under the straight-line method the rate is applied to the cost net of salvage value. Double-declining-balance depreciation Method of accelerated depreciation. Double dip Used for listed equity securities. Dividend roll in which the "dividend capturer" already owns the stockcum dividend. Also used when tax depreciation is accessed in two countries concurrently. Double-dip lease A cross-border lease in which the different rules of the lessor's and lessee's countries let both parties be treated as the owner of the leased equipment for tax purposes. Double-entry bookkeeping Accounting method that records each transaction as both a credit and a debit in different accounts. Double-tax agreement Agreement between two countries that taxes paid abroad can be offset against domestic taxes levied on foreign dividends. Double taxation Government taxation of the same money twice; specifically, earnings taxed first at the corporate level and then again as dividends at the stockholder level. Double top A term used in technical analysis to refer to the rise of a stock's price, a drop, and then a rise back to the same level as the original rise. Double up A stockbuyingstrategy that doubles the risk when the price moves in the opposite direction from the direction the investor hoped for. For example, an investor with confidence in ABC buys 1000 shares at $100 and another 1000 shares when the price declines to $90. Double witching day The last trading day before expiry of options and futures on the same underlying asset, resulting in a variety of arbitragestrategies to close out positions. Doubling option A sinking fund provision that may allow repurchase of