A generic term for a security backed by real estate mortgages. CMO payment obligations are covered by interest and /or principal payments from a pool of mortgages. In...
A tender offer that exerts pressure on target shareholders to tender early. This pressure may come in the form of preferential compensation for early tendering shareholders. Changes in...
A type of investment company that has a fixed number of shares which are publicly traded. The price of a closed end share fluctuates based on investor supply...
An arrangement to settle all contracted but not yet due obligations to and claims on a counterparty by one single payment, immediately upon the occurrence of one of...
Where a party to a contract does not make delivery against sale or payment against delivery of documents, the other party can close out the transaction against the...
A member of a clearing corporation or clearing house of the derivatives exchange or derivatives segment of an exchange, who may clear and settle transactions in securities.
A department of an exchange or a separate legal entity that provides a range of services related to the clearance and settlement of trades and the management of...
A system to curb excessive speculation in the stock market, applied by the Stock Exchange authorities, when the index spurts or plunges by more than a specified per...
An unethical practice employed by some brokers to increase their commissions by excessively trading in a client’s account. In the context of the stock market, churning refers to...
