Author: todorm

A mutual fund‘s return minus the change in the Standard & Poor’s 500 index for the same exact period

An options strategy that uses a long and short position in calls or puts with different strike prices and expiration dates.

An electronic system that improves efficiency by routing orders for listed securities directly to a specialist on the trading floor instead of a broker.

A financial instrument whose value depends upon the value of another asset.

A securitized contract the value of which depends upon one or more underlying assets.

The decline in an asset’s value.

A New York corporation that performs the functions of a Central Securities Depository as part of the US National Market System.

A facility where something is deposited for storage or safeguarding.

An order issued by the clearing corporation to any firm that has delivery or sale positions remaining after the day’s trades are netted.

A liability on a balance sheet resulting from income.