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Financial Glossary
| a b c d e f g h i j k l m n o p q r s t u v w x y z
Compiled by Campbell R. Harvey, J. Paul Sticht Professor of International Business, Fuqua School of Business, Duke University. |
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A
Fifth letter of a Nasdaq stock symbol specifying Class A shares. AAII See: American Association of Individual Investors ABO See: Accumulated Benefit Obligation ABS See: Automated Bond System ACAT See: Automated Customer Account Transfer ACES See: Advance Computerized Execution System ACH See: Automated Clearing House ACRS See: Accelerated cost recovery system ACU See: Asian currency units AD The two-character ISO 3166 country code for ANDORRA. ADB See: Adjusted Debit Balance ADB See: Asian Development Bank ADR See: American Depositary Receipt ADS See: American Depositary Share AE The two-character ISO 3166 country code for UNITED ARAB EMIRATES. AED The ISO 4217 currency code for United Arab Emirates Dirham. AEX See: Amsterdam Exchange AFA The ISO 4217 currency code for Afghan Afghani. AF The two-character ISO 3166 country code for AFGHANISTAN. AFM See: Amman Financial Market AG The two-character ISO 3166 country code for ANTIGUA AND BARBUDAAG. AI The two-character ISO 3166 country code for ANGUILLAAI. AIBD Association of International Bond Dealers AL The two-character ISO 3166 country code for ALBANIA. ALL The ISO 4217 currency code for Albanian Lek. ALT Alternative Trading System. This term is defined under section 301 of the U.S. Securities Act. AM The two-character ISO 3166 country code for ARMENIA. Average life Also referred to as the weighted-average life (WAL). The average number of years that each dollar of unpaid principal due on the mortgage remains outstanding. Average life is computed as the weighted-average time to the receipt of all future cash flows, using as the weights the dollar amounts of the principal paydowns. Average maturity The average time to maturity of securities held by a mutual fund. Changes in interest rates have greater impact on funds with longer average maturity. Average rate of return (ARR) The ratio of the average cash inflow to the amount invested. Average tax rate Taxes as a fraction of income; total taxes divided by total taxable income. Average up A strategy used by investors to lower the overall cost of shares by buying as many shares with a given amount of capital in an increasing market. Buying $1000 worth of shares at $30, $35, $40, and $45, for instance, will make the average cost of the sharesx $36.65, lower than the average price of $37.50. Averaging See: Constant dollar plan. Avoided cost In context of project financing, the capital and expense that would have to be spent if the project did not proceed. Away A trade, quote, or market that does not originate with the dealer in question, e.g., "the bid is 98-10 away from me." Away from the market In context of general equities, out of line with the inside market at this time, such as when a bid on a limit order is lower or the offer price is higher than the current market price for the security; held by the specialist for later execution unless FOK. Antithesis of in-line. Away from us Used in context of general equities, to characterize role of a competing broker/dealer. Trading away from us signifies that stock is bought and/or sold with institutions using other tradingfirms. Away from you Used for listed equity securities. See: Outside of you. Axe to grind Used in context of general equities. Involvement in a security, whether through a position, order, or inquiry. |