Glossaire de trading expliqué
Le trading est un processus complexe, qui comprend de nombreuses actions qu’une personne peu familière avec le monde financier trouvera déroutante. Une fois que vous aurez lancé votre carrière de trader, vous serez submergé de termes commerciaux dont vous ne connaîtrez pas la signification. Vous ne comprendrez pas immédiatement en quoi la valeur marchande d’une entreprise diffère de sa valeur comptable. Vous ne comprendrez pas non plus ce que signifie CPI et en quoi il est différent de l’introduction en bourse, à moins que nous ne vous fournissions un glossaire de tous les termes déroutants que vous rencontrez dans une entreprise de trading.
Pour vous aider à éviter toute confusion, nous avons compilé un glossaire complet des termes financiers utilisés sur les marchés. Tous les glossaires de trading sont présentés dans notre glossaire par ordre alphabétique et expliqués avec une précision linguistique. Tout terme financier qui vous semble déroutant deviendra clair une fois que vous aurez lu sa définition dans notre glossaire ci-dessous.
Il y a actuellement 175 noms dans ce répertoire
Accrual
It is an accounting term. It describes the method for recording
revenues and expenses when they are incurred. It is not of no importance for this method
of recording when cash is exchanged.
Acquisition
This term refers to a company’s takeover of another company. The
acquiring company will take over another company by buying its ownership stake, whether
the majority of it or its entirety.
Alert
InteracInvestor alerts, also called trading alerts, allow traders to
set specified criteria and be immediately notified once these criteria have been met.
There are three types of alerts in trading: economic announcements, price alerts, and
indicator alerts.
Amortization
It is the process of spreading the repayment of a loan or the coast
of an intangible asset over a specified time frame. Banks or copyright agencies set the
condition of the spreading the repayment, allowing for amortization for a number of
months or years. Amortization usually incurs interest payments, set at the discretion of
the lender.
Analyst
It is a financial professional who is qualified to evaluate
investments and makes recommendations to sell, buy, or hold an asset.
Annual General Meeting (AGM)
It is a yearly gathering between a company’s shareholders and its
board directors. It is the only time when shareholders and directors meet. At AGM,
directors present the company’s annual report.
Arbitrage
It is a term related to trading. It is the practice of buying and
selling an asset simultaneously to take advantage of a difference in price. The asset is
usually sold in a different market, in a different form, or with a different financial
product.
Asset
It is an economic resource that is owned or controlled to return a
profit or a future benefit. In financial trading, the term relates to what is being
exchanged on markets; that is, to stocks, bonds, currencies, and commodities.
Bar
Chart
It is a type of the chart which consists of four significant points:
the high and the low prices, which form the vertical bar; the opening price, which is
marked with a horizontal line to the left of the bar; and the closing price, which is
marked with a horizontal line to the right of the bar.
Base Currency
It is a term related to trading. it is the first currency quoted in a
forex pair. It is also the accounting currency used by banks and other businesses.
Basing
A chart pattern used in technical analysis that shows when demand and
supply of a product are almost equal. It results in a narrow trading range and the
merging of support and resistance levels.
Bear
Market
A market is referred to as Bear Market when it follows a prolonged
downward trajectory. Traders then have no hope for a rally.
Bearish
This word refers to investors’ attitude to a market. When traders or
investors say that the market or an asset is bearish, they believe that it is going to
experience a downward trajectory.
Bid
This term refers to trading and investing. It is an amount a buyer is
willing to pay to buy a financial instrument.
Bid
Price
This is the price at which the market is prepared to buy a product.
Prices are quoted two-way as Bid/Ask. In FX trading, the Bid represents the price at
which a trader can sell the base currency, shown to the left in a currency pair. For
example, in the quote USD/CHF 1.4527/32, the base currency is USD, and the Bid price is
1.4527, meaning you can sell one US Dollar for 1.4527 Swiss francs. In CFD trading, the
Bid also represents the price at which a trader can sell the product. For example, in
the quote for UK OIL 111.13/111.16, the Bid price is £111.13 for one unit of the
underlying market.
Blue-Chip Stocks
These are shares of companies that are financially stable, reputable,
and long-established within their sector.
Bonds
It is a form of financial investment involving lending money to an
institution for a predetermined period of time. Bonds can be of two types: corporate
bonds and government bonds, depending to what institution the lending is made.
Book
Value
This type of value refers to what a business is worth according to
its financial records. It is contrasted to market value, a company’s worth according to
financial markets. The company’s market price is the current market price per share
multiplied by the total number of outstanding shares.
Brent
Crude
This type of value refers to what a business is worth according to
its financial records. It is contrasted to market value, a company’s worth according to
financial markets. The company’s market price is the current market price per share
multiplied by the total number of outstanding shares.
Broker
It is an independent person or a company organizing or executing
financial transactions on behalf of another party. Brokers do this across different
asset classes such as stocks, forex, real estate, and insurance. They usually charge a
commission to execute an order.
Bull
Market
This term refers to a market or an asset that is consistently
following an upward trajectory.
Bullish
This term refers to investors’ attitude to markets or assets. Bullish
investors and traders believe that the market is going to experience an upward price
movement. They also buy an underlying market in order to profit by selling the market in
the future, when the price has climbed.
Call
Option
It is a contract that gives a buyer the right to buy a specific asset
at a specific price on a specific date of expiry. The buyer is never obliged to do this,
however. The value of a call option appreciates, if the asset’s market price goes up.
Candlestick Chart
A chart that indicates the trading range for the day as well as the
opening and closing price. If the open price is higher than the close price, the
rectangle between the open and close price is shaded. If the close price is higher than
the open price, this area of the chart is not shaded.
Cash
Flow
This is the amount of money coming into and going out of company’s
accounts. It is reported in the company’s earnings announcements.
Closing Price
This is the last level at which an asset was traded before the market
closed on any given day. Closing prices are used as a marker, when the assets’ movements
over a longer period of time are evaluated.
Commission
It is the charge which an instrument broker levies for making traders
on a trader’s behalf.
Commodity
It is a basic physical asset, used as a raw material in the
production of goods or services. In trading, commodities are of four types: metals,
energy, agricultural, and livestock. The most common examples of commodities traded
these days at financial markets are oil, natural gas, gold, silver, platinum, grains,
and beef.
Contracts
for Difference (CFDs)
This is a type of financial derivative used in CFD trading. they are
used to trade a variety of financial markets like shares, foreign exchange, commodities,
indices, and bonds.
CPI
This is a Consumer Price Index, an average of several consumer goods
and services used to give an indication of inflation.
Currency
This is any form of money issued by a government or central bank and
used as legal tender and a basis for trade.
Currency Option
It is a type of option contract that gives the holder the right to
buy or sell a currency pair at a given price before a set time of expiry. The buyer is
not obliged to do so, however. The holder of the option pays a premium to the seller.
Currency Pair
These are the two currencies that make up a foreign exchange rate.
For example, EUR/USD (Euro/U.S. Dollar).
Current Account
This is the sum of the balance of trade (exports minus imports of
goods and services), net factor income (interest and dividends), and net transfer
payments (foreign aid). The balance of trade is typically the key component to the
current account.
Current Ratio
It is a measure used to establish a company’s ability to sell its
tangible assets to pay off its short-term debt. The current ratio is useful in
establishing the liquidity position of a business.
Daily Funded Bet (DBF)
This term is used in spread betting to describe a position that
remains open until a trader decides to close it. For each day that a bet remains open,
an interest adjustment is made to a trader’s account to reflect the cost of funding his
or her position.
Day
Order
This is a type of order or an instruction from a trader to a broker
to buy or sell a certain asset.
Day
Trading
It is a strategy of short-term investment that involves closing out
all trades before the market closes.
Derivatives
These are financial products deriving their value from the price of
an underlying asset. Traders often use derivatives as a device to speculate on the
future price movements of an asset, without buying the asset itself.
Digital Options
This option, also known as a digital 100, enables a trader to predict
whether a statement about a market is true or false. If traders are correct in their
predictions, they earn a profit. If they make a mistake, they lose money.
Dividend
This is the portion that a company chooses to return to its
shareholders, usually expressed as a percentage.
Double Bottom
This is a technical analysis reversal price pattern. After an
established downtrend, the last bottom fails to move lower than the previous bottom and
prices rise above the last top.
Earnings Per Share (EPS)
This is a metric is a company’s earnings figures. EPS are calculated
by dividing the total amount of profit generated in a certain period by the number of
the company’s shares listed on the stock market.
EDSP
This is an abbreviation for Exchange Delivery Settlement Price. It
refers to the price at which exchange-traded derivative contracts are settled. Stock
markets use EDSP to calculate the amount that each party to an options or futures
contract owes at the time of that contract’s expiry.
Exchange
It is an open, organized marketplace for commodities, stocks,
securities, derivatives, and other financial instruments. The terms exchange and market
are used interchangeably.
Expert Advisor
It’s an automated set of detailed programming instructions on how to
open, modify and close trading positions without human intervention.
Federal Reserve
This term refers to the Federal Reserve Banks or Feds. It is the
central bank which is in charge of financial stability in the US.
Fiat Currency
This is a national currency that is not pegged to the price of gold
or silver. The value of fiat currency is based on the people’s faith in the country’s
government or central bank that issue this currency.
Financial Instrument
It is a monetary contract between two parties – the buyer and the
seller, which can be traded and settled. The contract represents an asset to the buyer
and a financial liability to the seller.
Financial Market
It is a medium through which assets are traded, with their value
determined by supply and demand.
Floating Exchange Rate
This term refers to a currency whose price is determined by supply
and demand factors relative to other currencies. A Floating Exchange Rate is different
from a Fixed Exchange Rate, determined by the government of the given currency.
Force
Open
This is a function on the trading platform that allows traders to
enter a new bet in the opposite direction to an existing bet on the same market.
Forward Contract
This is a contract which has a defined date of expiry. This contract
may vary between different instances. This makes it a non-standardized entity which can
be customized according to a traded asset, expiry date, and a particular trading
account.
Funding Charges
These fees are also called Interest Charges. They are levied on
leveraged positions held open overnight.
Futures Contract
This is an agreement between two parties to trade an asset at a
predefined price on a specified date in the future.
GDP
This an abbreviation of Gross Domestic Product, which is the total
value of goods and services produced in a country over a specified period of time. It is
used as an indicator of the health and size of a country’s economy.
Gearing Ratio
It is a measure used by investors to establish a company’s financial
leverage, which is the amount of funds acquired through creditor’s loans, compared to
the funds acquired through equity capital.
Gross Profit Margin
It is a way to measure the amount of profit a company has left after
subtracting the direct costs associated with selling its goods and services. Gross
Margin demonstrates whether a company is generating revenue despite its outgoings.
Guaranteed Stop
It is a form of stop loss offering a guarantee of executing your
trade at the level a trader specifies.
Hawks and Doves
These are terms used by analysts to categorize members of the Central
Bank committee ahead of their votes on monetary policy. Hawks are those members who
advocate keeping inflation low as the top priority in monetary policy. Doves are more in
favor of expansionary monetary policy, including low interest rates. Hawks tend to favor
“tight” monetary policy.
Hedge
It is an investment or trade meant to reduce a trader’s exposure to
risk. The process of reducing risk via investments is called hedging.
Index (pl. Indices)
It is a grouping of financial assets that are used to give a
performance indicator of a particular sector. Examples of the largest global indices are
MSCI ACWI Index, MSCI World, S&P Global 100, S&P Global 1200, The Global Dow –
Global version of the Dow Jones Industrial Average, Dow Jones Global Titans 50, FTSE
All-World index series, and OTCM QX ADR 30 Index.
Inflation
This is the increase in the cost of goods and services in an economy.
It is also a devaluing of currency, because in the time of inflation, each unit of the
currency’s economy is worth less of any good or service.
Interest
This term refers to several things in finance. It refers to the
charge levied against a party for borrowing money, which can be a cost or a means of
making profit for a trader. Interest can also refer to the portion of a company’s stocks
held by a particular shareholder.
Interest Rate
This is an amount charged by a lender to a borrower for the loan of
an asset, usually expressed as a percentage of the borrowed amount. This percentage
usually refers to the amount paid each year (Annual Percentage Rate). But it can refer
to payments on a more or less regular basis.
Intrinsic Value
This is the true or perceived value of an asset.
Intrinsic value is not always identical to an asset’s market price, because assets can
be either undervalued or overvalued. Investors use Intrinsic Value in option pricing or
assess stocks.
IPO
This is an abbreviation for Initial Public Offering. This term means
that a company goes public on a stock exchange.
J-Curve
This term refers to a trendline showing an initial loss immediately
followed by a large gain. In a chart, this pattern of activity follows the shape of a
capital letter “J”.
January Effect
This term refers to a seasonal increase in stock prices during
January. This increase in prices is attributable to an increase in buying, which follows
the decrease in prices typically happening in December, when investors prompt a
sell-off.
Job
Market
This is the market where employers look for employees and employees
search for jobs. Also known as the labor market, this is not a physical place but a
concept demonstrating the interplay between different labor forces.
Joint-Stock Company
This is a business owned by its investors, with each of them owning a
share based on the amount of acquired stocks. Usually, joint-stocks companies are too
expensive for an individual to fund. The owners of such businesses share in their
profits.
Jurisdiction Risk
This is the risk that arises when operating in a foreign
jurisdiction. Usually, people face such risk when they do business or lend money in
another country.
Key
Performance Indicators (KPIs)
This term refers to a set of qualifiable measurements used to
estimate a company’s overall long-term performance. In particular, KPIs help determine a
company’s strategic, financial, and operational achievements, compared to similar
companies in the same industry.
Key Rate Duration
This is the measurement used to estimate the value of a debt security
or a debit instrument portfolio – bonds – changes at a specific maturity point along the
entirety of the yield curve.
Knock-In Option
It is a latent option contract that begins to function as a normal
option only when a specific price level is reached before expiration.
Knock-Out Option
It is an option with an inherent mechanism to expire worthless if a
predetermined price level in the underlying asset is reached. This option sets a cap on
the level an option can reach in the holder’s favor.
Know Your Customer (KYC)
This is a standard in the investment industry which ensures companies
and advisors know detailed information about their clients’ risk tolerance, investment
knowledge, and financial position. KYC protects investment advisors and clients alike.
Leverage
This is the concept enabling traders to multiply their exposure to a
financial market without committing more money.
Leveraged Products
These are financial instruments enabling traders to gain greater
exposure to the market without increasing their capital investment. They do so by using
leverage.
Liabilities
These are debts and obligations that detract from a company’s total
value. They have to be paid over a certain period of time.
Limit
Order
This is an instruction given by a trader to a broker to execute a
trade at a particular level which is more favorable than the current market price.
Liquidity
This is a term that describes how easily an asset can be sold or
bought in the market without affecting its price. When there is a demand for an asset,
there is a high liquidity, because in this period, it is easy to find a buyer or a
seller for this asset.
Margin
In trading, this term refers to the funds which are required to open
and maintain a leveraged position.
Market Capitalization
Often shortened as market cap, this term refers to the total market
value of a company’s shares on the market. It is an easy way to determine a company’s
size, which, in turn, helps assess the risk of investing in its shares.
Market
Data
It is the live streaming of all information related to trade. It
includes information about price, bid/ask quotes, and market volume. Market data also
encompasses reports on assets and financial instruments. Market data is available across
all global markets – stocks, forex, and commodities, and is distributed to companies and
individual traders.
Market Order
It is an instruction from a trader to a broker to execute a trade
immediately at the best available price.
Moving Average (MA)
It is a common indicator in technical analysis, used to analyze price
movements of assets while lessening the impact of random price spikes.
Multiplier Effect
This term describes the impact that changes in monetary supply have
on economic activity. When a government, business, or individual spends money, it can
have an unforeseen effect on businesses and people.
Negative
Balance Protection
This protection ensures that traders do not lose more than the
balance on their account.
Net
Change
This term refers to the difference between the closing price of the
current trading session, compared to the closing price of the previous trading session.
Net change can be positive or negative, because it shows whether the markets were up or
down a day before.
Net Operating Income (NOI)
It is a calculation used to analyze the profitability of
income-generating real estate investments. NOI equals revenue from the property,
excluding all necessary operating expenses.
Non-Current Asset
It is a company’s long-term investment, for which the full value is
not realized during the accounting year. Non-current asset can also be an item without
an inherent value, such as intangible assets, or assets with no fixed expiry, such as
land or property.
Offer
This term refers to a trader’s expressed intention to buy an asset or
financial instrument from another trader or institution.
On Balance Volume (OBV)
It is a form of technical analysis enabling traders to make
predictions about future price movements based on the asset’s previous trading volume.
Open Position
This term refers to a trade still able to generate a profit or incur
a loss. when a position is closed, all profits and losses have been realized, and the
trade is no longer active. Open positions are either long or short; that is, they allow
traders to profit when markets are on the rise and when they are sliding.
Option
It is a financial instrument that offers traders the right to buy or
sell an asset when its price moves beyond a certain price within a specified time
period.
Order
It is a request sent by a broker or a trading platform to make a
trade on a financial instrument.
Out of Money (OTM)
This term refers to a contract that has not yet reached the value of
its strike price. In other words, it has no intrinsic value and will expire worthless.
P/E
Ratio
This is an abbreviation for Price-to-Earnings Ratio. It is a method
of measuring a company’s value and is calculated by dividing the company’s market value
per share by the earnings per share.
Position
This term refers to a trade that can currently incur a loss or make a
profit, known as an open position, or to a trade that has recently been cancelled, known
as a closed position. Profit or loss on a position is realized only after it has been
closed.
Profit and
Loss Statement (P&L)
It is a financial report providing a summary of a company’s revenue,
expenses, and profit. It shows to investors how the company is operating and how much
profit it is generating.
Pullback
It is a temporary pause or dip in an asset’s overall trend. It should
not be confused with a reversal, a more permanent move against the asset’s prevailing
trend.
Put
Option
It is a contract that gives the buyer the right to sell an asset at a
specified price and at a specific date of expiry. The buy is not obliged to sell,
however. The value of a put option increases if the asset’s market price decreases.
Qualified Dividend
It is a dividend that falls under capital gains tax rates which are
lower than the income tax rates on unqualified, or ordinary, dividends. Qualified
dividends are taxed as capital gains at rates of 20%, 15%, or 0%, depending on a
specific tax bracket.
Quantitative Easing (QE)
It is a form of monetary policy in which a central bank buys
longer-term securities from the open market in order to boost the money supply and
encourage investment and lending.
Quarter
This is a three-month period on a company’s financial calendar acting
as a basis for periodic financial reports and the paying of dividends. A quarter refers
to one-forth of a year and is expressed as “Q1” for the first quarter, “Q2” for the
second quarter, “Q3” for the third quarter, and “Q4” for the fourth one.
Quote Currency
It is the second currency listed in a forex pair. It is
also called the counter currency.
Quote
Price
It is the price at which an asset was last traded. It is defined as
the point where supply meets demand, since it is the price on which the buyer and seller
agree.
Rally
It is a period in which a price of an asset experiences sustained
upward movement. A rally usually happens after a period in which prices have been flat,
traded in a narrow band, or experienced a drop.
Range
It is the difference between a market’s highest and lowest price in a
given period. Range is an indicator of volatility. If the range at the market is wide,
this means that it is volatile.
Reserves
These are the liquid assets set aside for future use by an
individual, business, or central bank. Reserves are usually currencies or gold. For
traders, reserves are kept in cash that is quickly accessed.
Resistance Level
It is the point on a price chart at which an upward price trajectory
is checked by an overwhelming inclination to sell the asset. If a market price is close
to a resistance level, a trader can close his or her position taking the profit instead
of waiting for the price to fall back.
Return on
Capital Employed (ROCE)
It is a long-term profitability ratio measuring how effectively a
company uses its capital. The metric tells you the profit generated by each dollar or
any other currency used.
Reversal
It is a turnaround in the price movement of an asset; that is, when
an upward trend becomes a downward trend or vice versa.
Risk Management
It is the process of identifying potential risks in a trader’s
investment portfolio and taking steps to minimize them.
Scalp
It is the act of opening and then closing a position very quickly, in
the hope of profiting from small price movements.
Share Buyback
This term refers to a company’s repurchasing of its own shares from
investors. This is a tax-efficient way to return money to shareholders. When shares have
been repurchased, they are considered cancelled. However, they can be kept for
redistribution in the future.
Share
Price
It is the price of one share in a company. The prices of a share
fluctuate according to market conditions. They usually increase if a company is
estimated to be doing well; they fall, when a company is not meeting expectations.
Shares
These are the units of the ownership of a company, usually traded on
the stock market. They are also called stocks and equities.
Shares Trading
It is the process of buying or selling of a company’s stock or
derivative products based on stock to make a profit.
Short Selling
It is an act of selling an asset that traders do not currently own,
because they hope that its value will drop and they will close a trade at a profit.
Slippage
This term refers to a situation where an order executed does not
match the price at which it was made.
Spot
This term refers to the price of an asset for immediate delivery or
to the value of an asset at any exact given time. It differs from an asset’s futures
price, defined as the price for delivery at some date in the future.
Spot
Price
This term refers to the current value of an underlying asset, for
which it can be bought or sold with the expectation of immediate delivery. This term is
often used in the forex and commodities market.
Spread
This is the difference in price between the buy (bid) and sell
(offer) prices quoted for an asset.
Stock Exchange
It is a centralized location where the shares of publicly traded
companies are bought and sold. Stock exchanges differ from other exchanges in that the
tradable assets are limited there to stocks, binds, and exchange traded products (ETPs).
Stock
Index
It is a group of shares used to give an indication of a sector,
exchange, or economy. A stock index is made up of a set number of the top shares from a
given exchange.
Stop
Order
This is a type of order that instructs a broker to execute a trade
when it reaches a particular level, usually one which is less favorable than the current
market price. They are also called stop-loss orders.
Strike Price
This is the price at which an option can be executed. It is a fixed
price under which an underlying asset can be bought or sold.
Tangible Assets
These are assets on a company’s balance sheet that have a physical
form, including equipment property, machinery, and materials used in production.
Time
Value
This term refers to the portion of an option’s premium that is
attributable to the amount of time left until the option expires. An investor is ready
to pay more for an option with a longer time until expiry, because the option has more
time to expire in the money.
Trading Floor
This is where financial instruments such as stocks, bonds,
commodities are bought and sold. They are usually electronic.
Treasury Stock
This is the portion of a company’s shares that it keeps in reserve.
These shares are not available to the public and do not count towards the total amount
of listed outstanding shares.
Trend
This term refers to the time when a market is making sustained moves
upwards or downwards. Identifying the beginning and ending of trends is crucial for
market analysis. Trends apply to individual assets, sectors, interest rates, and bond
yields.
Unborrowable Stocks
These are stocks that are not lendable to short sellers. When shares
in a company become unborrowable, it is impossible to short sell them in a traditional
way.
Underlying Asset
This term refers to the financial assets upon which a derivative’s
price is based. A derivative is a financial instrument with a price based on a different
asset.
Unemployment Rate
This term refers to the percent of the labor force that does not have
a job. This indicator rises and falls in the wake of changing economic indicators but
does not anticipate them.
Unlimited Liability
This term refers to the full legal responsibility that business
owners and partners assume for all business debts. This liability is not capped.
Business owners can pay their obligations through the seizure and sale of owners’
personal assets.
Upside
This term refers to the potential increase in value of an investment.
It is measured in monetary or percentage terms. A higher upside means that the stock has
more value than is currently reflected in the stock price.
Valuable Cost
This is a busines’ expense which is subject to change when sales
volumes change. This means that valuable costs either increase or decrease depending on
the company’s present output.
Value
Chain
It is a business model that describes the full range of activities
needed to create a product or service.
Variable Cost
This is a corporate expense that changes in proportion to production
output. Variable costs decrease or increase depending on a company’s production volume.
Volatility
This term refers to the situation at the market when there is a high
likelihood of making major, unforeseen short-price movements at any given time.
Volume
It is the amount of a certain asset that is being traded over a
certain period of time. It is often given together with price information, since this
information offers another dimension with which traders examine an asset’s price
history.
West Texas
Intermediate (WTI)
It is an oil benchmark central to commodities trading. It is one of
the three major oil benchmarks used in trading, alongside with Brent and Dubai/Oman.
White
Paper
It is an informational document usually issued by a company to
promote or highlight the features of a solution, product, or service that it offers.
Wholesale Price Index (WPI)
It is an index that measures the changes in the price of goods in the
stages before the retail level. It refers to goods sold in bulk and traded between
entities or businesses, not between customers.
Wire Transfer
It is an electronic transfer of funds via a network that is
administered by hundreds of banks and transfer service agencies around the world. This
transfer can also be made cash at a cash office.
Working Order
This term refers to the opening of a stop order or a limit order. It
is used to advise a broker to execute a trade when an asset reaches a specific price.
X-efficiency
This term refers to the degree of efficiency maintained
by firms under conditions of imperfect competition. Efficiency in this context means a
company getting the maximum outputs from its inputs, which includes employee
productivity and manufacturing efficiency.
XD
It is symbol used to signify that a security is trading ex-dividend.
It tells investors key information about a specific security in a stock quote.
XTR
It is an extension printed after the ticker symbol for a stock. It
indicates that the stock is trading on an ex-rights basis, which means that the buyer of
the stock does not have the rights to purchase more shares at a lower price anymore
because those rights have expired.
Zero Balance Account (ZBA)
It is a checking account where a balance of zero is maintained. When
funds are required in this account, the exact amount of money needed is automatically
transferred from a central or master account.
Zero-Based Budgeting (ZBB)
It is a method of budgeting according to which all expenses must be
justified for each new period. The process of zero-based budgeting starts from a “zero
base.” Every function within a company is then analyzed for its needs and costs.
Zero-Coupon Bond
It is a debt security that does not pay interest. Instead, it trades
at a deep discount and renders a profit at maturity, when the bond is redeemed for its
full-face value.