A series of rules, interpretations and explanations designed to make uniform, where practicable, custom, practice, usage, and trading technique in the investment banking and securities business, particularly with regards to operational and settlement issues.
Uniform Practice Code
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Uncovered Call
When a call option is sold by itself without any offsetting positions.
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A put option contract where the option writer does not hold the underlying position to cover the contract in case of assignment.
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Underwriter (Investment Banker)
The process where a bank raises capital for a client from investors in the form of equity or debt securities.
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