derivatives - Bombay Chartered Accountants` Society
... against loss through future price fluctuations in respect of his contracts for actual delivery of goods manufactured by him or merchandise sold by him ; or (b) A contract in respect of stock and shares entered into by a dealer or investor therein to guard against loss in his holdings of stocks and s ...
... against loss through future price fluctuations in respect of his contracts for actual delivery of goods manufactured by him or merchandise sold by him ; or (b) A contract in respect of stock and shares entered into by a dealer or investor therein to guard against loss in his holdings of stocks and s ...
XPP-PDF Support Utility
... change from the Proposal, the Liquidity Rule generally permits a fund to, as a starting point, classify the liquidity of its portfolio investments according to their asset class (rather than on an investment-by-investment basis). This approach recognizes that many investments within an asset class m ...
... change from the Proposal, the Liquidity Rule generally permits a fund to, as a starting point, classify the liquidity of its portfolio investments according to their asset class (rather than on an investment-by-investment basis). This approach recognizes that many investments within an asset class m ...
Do Retail Trades Move Markets? - Faculty Directory | Berkeley-Haas
... Investor sentiment is generally attributed to individual, retail investors (e.g., Lee, Shleifer, and Thaler, 1991). Since individual investors tend to place small trades, their purchases and sales must be correlated if they are to appreciably affect prices. Barber, Odean, and Zhu (forthcoming) show ...
... Investor sentiment is generally attributed to individual, retail investors (e.g., Lee, Shleifer, and Thaler, 1991). Since individual investors tend to place small trades, their purchases and sales must be correlated if they are to appreciably affect prices. Barber, Odean, and Zhu (forthcoming) show ...
Methodology And Assumptions: Liquidity
... • Sufficient covenant headroom for forecasted EBITDA to decline by 15% without the company breaching coverage tests, and debt is at least 15% below covenant limits (or, if not, the related facilities are not material). • The likely ability to absorb high-impact, low-probability events, with limited ...
... • Sufficient covenant headroom for forecasted EBITDA to decline by 15% without the company breaching coverage tests, and debt is at least 15% below covenant limits (or, if not, the related facilities are not material). • The likely ability to absorb high-impact, low-probability events, with limited ...
John Hancock High Yield Municipal Bond Fund
... produce disproportionate losses, potentially more than the fund’s principal investment. Risks of these transactions are different from and possibly greater than risks of investing directly in securities and other traditional instruments. Under certain market conditions, derivatives could become hard ...
... produce disproportionate losses, potentially more than the fund’s principal investment. Risks of these transactions are different from and possibly greater than risks of investing directly in securities and other traditional instruments. Under certain market conditions, derivatives could become hard ...
performance analysis for the two-minute portfolio in both canadian
... In 1999, Rob Carrick, the Globe and Mail’s Personal Finance Columnist, dredged up an idea called the “Two-Minute Portfolio”. Carrick (1999) constructed two portfolios from December 31, 1998 by investing equal amount in the largest one or two blue-chip stocks in each of the S&P/TSX’s sub sectors. Bas ...
... In 1999, Rob Carrick, the Globe and Mail’s Personal Finance Columnist, dredged up an idea called the “Two-Minute Portfolio”. Carrick (1999) constructed two portfolios from December 31, 1998 by investing equal amount in the largest one or two blue-chip stocks in each of the S&P/TSX’s sub sectors. Bas ...
3. Foreign stock exchanges and listing procedures
... The increasing number of corporations whose securities are traded on foreign stock exchanges is rapidly erasing the borders between domestic and international capital markets. Internationalisation of securities markets has accelerated with the easing of foreign exchange controls, floating exchange r ...
... The increasing number of corporations whose securities are traded on foreign stock exchanges is rapidly erasing the borders between domestic and international capital markets. Internationalisation of securities markets has accelerated with the easing of foreign exchange controls, floating exchange r ...
Mitigating Systemic Risk - A Role for Securities Regulators
... response in relation to its mandate and domestic regulatory structure as well as the relative size and characteristics of its securities market. Individual regulators will consequently need to evaluate the scale of their response and the extent to which they can leverage, rather than duplicate, the ...
... response in relation to its mandate and domestic regulatory structure as well as the relative size and characteristics of its securities market. Individual regulators will consequently need to evaluate the scale of their response and the extent to which they can leverage, rather than duplicate, the ...
Stock Market Liquidity and the Cost of Issuing Equity
... to find investment banks for the selling and underwriting syndicates more efficiently than a single book-runner. We use a dummy variable that is equal to one if there are multiple bookrunners, and zero otherwise, to measure the level of coordination. Finally, the level of the stock’s price may be a ...
... to find investment banks for the selling and underwriting syndicates more efficiently than a single book-runner. We use a dummy variable that is equal to one if there are multiple bookrunners, and zero otherwise, to measure the level of coordination. Finally, the level of the stock’s price may be a ...
Saudi Capital Market Overview
... also the official source of all market information. Tadawul affiliate members of International Organization of Securities Commissions (IOSCO), and a member of the World Federation of Exchanges, Arab Federation of Exchanges (AFE) and Africa and Middle East Depositories Association (AMEDA). ...
... also the official source of all market information. Tadawul affiliate members of International Organization of Securities Commissions (IOSCO), and a member of the World Federation of Exchanges, Arab Federation of Exchanges (AFE) and Africa and Middle East Depositories Association (AMEDA). ...
View the presentation.
... Whether a legal entity (other than a fund) has its "principal place of business" in the U.S. is a question of whether the non-U.S. entity has its "center of direction, control, and coordination of [its] business activities in the United States" "In practice, it should normally be the place where ...
... Whether a legal entity (other than a fund) has its "principal place of business" in the U.S. is a question of whether the non-U.S. entity has its "center of direction, control, and coordination of [its] business activities in the United States" "In practice, it should normally be the place where ...
Frequently Asked Questions about Exchange
... more of these reference assets. Who issues ETNs? ETNs are issued by companies registered with the Securities and Exchange Commission (the “SEC”) that are bank holding companies or banks. What is the difference between a listed debt security ...
... more of these reference assets. Who issues ETNs? ETNs are issued by companies registered with the Securities and Exchange Commission (the “SEC”) that are bank holding companies or banks. What is the difference between a listed debt security ...
Global Financial Systems Chapter 4 Liquidity
... • Illiquidity means that banks cannot raise cash by selling assets, because they cannot get acceptable prices in the short run • In practice, it can be difficult to distinguish between illiquidity and insolvency ...
... • Illiquidity means that banks cannot raise cash by selling assets, because they cannot get acceptable prices in the short run • In practice, it can be difficult to distinguish between illiquidity and insolvency ...
No Arbitrage Conditions For Simple Trading Strategies
... simple trading strategies S(F). A typical example of a strict local martingale is the inverse process of three dimensional Bessel process, see [3]. Strict local martingales appear in a number of ways in applications and some of their financial applications were discussed in [3, 4]. Also see [5, 8, 1 ...
... simple trading strategies S(F). A typical example of a strict local martingale is the inverse process of three dimensional Bessel process, see [3]. Strict local martingales appear in a number of ways in applications and some of their financial applications were discussed in [3, 4]. Also see [5, 8, 1 ...
Playing the Field: Geomagnetic Storms and the Stock
... bubbles travel away from the sun at about 2 million miles per hour. If “bubbles” leave the right place on the sun to reach earth, they travel the 93-million-mile distance in about 40 hours. Coronal mass ejections occur more often when the sun is more active, and sunspots are more numerous during suc ...
... bubbles travel away from the sun at about 2 million miles per hour. If “bubbles” leave the right place on the sun to reach earth, they travel the 93-million-mile distance in about 40 hours. Coronal mass ejections occur more often when the sun is more active, and sunspots are more numerous during suc ...
Institutional Investment Constraints and Stock Prices
... Lewellen (2011)). Such “benchmark investing” behavior contradicts predictions of neoclassic models: institutional investors are usually viewed as being better informed than individual investors. Thus, they should overweight stocks that have positive news and underweight stocks with negative news. Ho ...
... Lewellen (2011)). Such “benchmark investing” behavior contradicts predictions of neoclassic models: institutional investors are usually viewed as being better informed than individual investors. Thus, they should overweight stocks that have positive news and underweight stocks with negative news. Ho ...
Competition in the Cryptocurrency Market
... same-side effects). There are no such negative effects for currency adoption—it is always positive when more users adopt it. In the case of exchanges, the negative same-side effects may counter the “winner-take-all” dynamics (cf. Ellison and Fudenberg 2003; Halaburda and Piskorski 2011). Therefore, ...
... same-side effects). There are no such negative effects for currency adoption—it is always positive when more users adopt it. In the case of exchanges, the negative same-side effects may counter the “winner-take-all” dynamics (cf. Ellison and Fudenberg 2003; Halaburda and Piskorski 2011). Therefore, ...
Effect of Investor Sentiment on Market Response to Stock Splits
... believed to convey favorable private information for future firm’s value. As such, this paper can mainly focus on whether the positive market response is mainly due to the true signal of the future value or the sentiment combined with investor’s other behavioral bias. Second, earlier studies about s ...
... believed to convey favorable private information for future firm’s value. As such, this paper can mainly focus on whether the positive market response is mainly due to the true signal of the future value or the sentiment combined with investor’s other behavioral bias. Second, earlier studies about s ...
securities regulations
... Investor confidence and market efficiency are mutually reinforcing: Foster capital markets that are efficient and that warrant investor confidence Protect and inform investors, so capital markets are fair and efficient… …Efficiency: optimal allocation of financial resources—investors provide m ...
... Investor confidence and market efficiency are mutually reinforcing: Foster capital markets that are efficient and that warrant investor confidence Protect and inform investors, so capital markets are fair and efficient… …Efficiency: optimal allocation of financial resources—investors provide m ...
MSCI Announces the Results of the 2012 Annual Market
... The MSCI Taiwan Index meets many Developed Markets criteria, including economic development and market size and liquidity, but market accessibility issues still prevent the reclassification of the MSCI Taiwan Index to Developed Markets. With respect to currency, there is only a local foreign exch ...
... The MSCI Taiwan Index meets many Developed Markets criteria, including economic development and market size and liquidity, but market accessibility issues still prevent the reclassification of the MSCI Taiwan Index to Developed Markets. With respect to currency, there is only a local foreign exch ...
When Marketing Strategy First Meets Wall Street
... marketing spendings when “marketing strategy first meets Wall Street”—that is, at the time firm stocks first become traded publicly in the context of initial public offerings (IPOs). This study examines the IPO market because of its economic importance. The IPO event empowers a company to offer its ...
... marketing spendings when “marketing strategy first meets Wall Street”—that is, at the time firm stocks first become traded publicly in the context of initial public offerings (IPOs). This study examines the IPO market because of its economic importance. The IPO event empowers a company to offer its ...
Celebrating 12th Glorious Years of Servicing Good Morning!!! Have
... are not responsible for any losses made by traders. It is only the outlook of the market with reference to its previous performance. You are advised to take your position with your sense and judgment and do not follow us blindly. The methods, systems, technique, graphs, article, photos, videos or an ...
... are not responsible for any losses made by traders. It is only the outlook of the market with reference to its previous performance. You are advised to take your position with your sense and judgment and do not follow us blindly. The methods, systems, technique, graphs, article, photos, videos or an ...
Philippine Bond Market Guide
... (ADB consultant), and Matthias Schmidt (ADB consultant), The ADB Team would also like to express our sincere gratitude to the Philippine Working Group (PWG). The PWG was composed of public and private sector representatives. The public sector was represented by the Department of Finance, Bangko Sent ...
... (ADB consultant), and Matthias Schmidt (ADB consultant), The ADB Team would also like to express our sincere gratitude to the Philippine Working Group (PWG). The PWG was composed of public and private sector representatives. The public sector was represented by the Department of Finance, Bangko Sent ...
Evidence from when-issued transactions
... While the ability to price discriminate should increase revenue, Milton Friedman, among others, has suggested that the Treasury could increase revenue by selling its securities using uniform price auctions. The thrust of Friedman's argument, taken from his correspondence to Henry Goldstein and repor ...
... While the ability to price discriminate should increase revenue, Milton Friedman, among others, has suggested that the Treasury could increase revenue by selling its securities using uniform price auctions. The thrust of Friedman's argument, taken from his correspondence to Henry Goldstein and repor ...
Financial Expertise as an Arms Race
... Given the obvious value of precommitting not to acquire information, why do we see financial firms, whose major business is to intermediate and facilitate trading, investing vast resources in expertise that speeds and improves their ability to acquire and process information about the assets they tr ...
... Given the obvious value of precommitting not to acquire information, why do we see financial firms, whose major business is to intermediate and facilitate trading, investing vast resources in expertise that speeds and improves their ability to acquire and process information about the assets they tr ...
Trading room
A trading room gathers traders operating on financial markets. The trading room is also often called the front office. The terms ""dealing room"" and ""trading floor"" are also used, the latter being inspired from that of an open outcry stock exchange. As open outcry is gradually replaced by electronic trading, the trading room gets the only living place that is emblematic of the financial market. It is also the likeliest place within the financial institution where the most recent technologies are implemented before being disseminated in its other businesses.