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sohomghosh
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FinRAD_Financial_Readability_Assessment_Dataset

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1
terms
stringlengths
1
156
definitions
stringlengths
3
4.2k
source
stringclasses
15 values
assigned_readability
int64
0
1
flesch_reading_ease
float64
-301.79
121
flesch_kincaid_grade
float64
-3.5
55.6
smog_index
float64
0
26.5
coleman_liau_index
float64
-33.81
51.4
automated_readability_index
float64
-6.9
65
dale_chall_readability_score
float64
0.1
35.3
linsear_write_formula
float64
-0.5
73
gunning_fog
float64
0.4
56
TERMINAL MARKET
A TRADING center for a particular good or COMMODITY, rather than its original production center.CASE RISK EXPOSURE, TERMINAL EXPECTED RISK EXPOSURE.
palgrave
0
16.32
16.2
0
16.94
17.8
11.45
19.5
21.73
TERMINATION FEE
A fee paid by an acquiring company to a BANK pro- viding financing for an ACQUISITION, payable only if the financing is not utilized. See also BREAKUP FEE.
palgrave
0
65.73
7.6
0
7.82
7.1
9.41
8.5
9.89
TERMINATION OPTION
An OPTION embedded in an OVER-THE-COUNTER SWAP that permits one or both parties to terminate the transaction based on the passage of time or the occurrence of a triggering CREDIT event (often a CREDIT RATING downgrade). A firm might employ a termination option to help miti- gate the effects of counterparty CREDIT RISK on very long-term transactions.
palgrave
0
42.55
14.4
0
12.25
17.2
11.42
18.75
17.01
TERP
See THEORETICAL EX-RIGHTS PRICE.
palgrave
0
33.58
9.6
0
15.95
14.7
15.68
2
11.6
TEXAS HEDGE
A financial transaction that increases RISK or produces losses under all market scenarios, i.e., it does the opposite of what a properly functioning HEDGE is meant to do.
palgrave
0
43.06
14.2
0
11.61
16.6
11.79
21
21.2
THEORETICAL EX-RIGHTS PRICE (TERP)
The theoretical price a com- pany’s STOCK will have upon the completion of a RIGHTS ISSUE, reflect- ing the degree of DILUTION and the amount of rights taken up by existingSHAREHOLDERS.
palgrave
0
40.01
15.4
0
11.56
17.6
10.78
19.5
17.56
THEORETICAL FUTURES PRICE
The ARBITRAGE-free price of a FUTURES contract, equal to the SPOT PRICE plus the COST OF CARRY.
palgrave
0
71.14
7.6
0
8.35
9
8.19
8.5
9.15
THETA
A change in the value of an OPTION for a change in the passage of time, with all other variables held constant. The thetas of the CALL OPTION and PUT OPTION under the BLACK-SCHOLES MODEL are given by:)2 tu p = − dP = − Ss N9(d1 ) + rf Xe−rf t N( −d2 )where2+−2and S is the STOCK price, X is the STRIKE PRICE, t is the time to MATURITY,rf is the RISK-FREE RATE, σ2 is the VARIANCE, and where the N values of N(d1) and N(d2) can be obtained from standard tables of PROBABILITY functions.The thetas of long and short puts and calls are shown as:Also known as OMEGA. See also DELTA, GAMMA, GREEKS, RHO, TIME DECAY, TIME VALUE, VEGA.
palgrave
0
56.97
15.1
8.8
6.63
18.5
11.61
26.5
16.4
THETA NEUTRAL
A PORTFOLIO of OPTIONS that is neutral with respect to its THETA, meaning that it is HEDGED with regard to daily TIME DECAY. See also DELTA NEUTRAL, GAMMA NEUTRAL, VEGA NEUTRAL.
palgrave
0
64.2
8.2
0
8.99
8.6
10.52
7.25
7.49
THIN MARKET
An ILLIQUID market that features low volume, wide BID-OFFER SPREADS, and high price VOLATILITY; a thin market may also fea- ture periods of strictly one-way activity and periodic ORDER IMBALANCES. See also DEEP MARKET, TIGHT MARKET.
palgrave
0
44.75
11.5
0
12.7
13.3
9.79
12
12.76
THIRD MARKET
(1) The general marketplace for TRADING of OVER- THE-COUNTER instruments. (2) EXCHANGE trading between nonmember firms, or between a member and nonmember firm.
palgrave
0
39.67
13.4
0
15.32
18.1
10.27
16.5
14.42
THIRD PARTY ENHANCEMENT
Any form of support obtained from a third party CREDIT support provider, such as a GUARANTEE, SURETY BOND, or LETTER OF CREDIT. Such enhancements are used to increase the CREDITWORTHINESS of a transaction, often in lieu of posting physical or financial ASSETS as COLLATERAL.
palgrave
0
40.69
13.1
0
12.36
14.3
10.83
14.5
15.16
THRIFT
See SAVINGS AND LOAN ASSOCIATION.
palgrave
0
32.56
10
0
10.76
8.4
7.04
2.5
10
THROUGHPUT CONTRACT
A form of take-or-pay CONTRACT often used in PROJECT FINANCE deals in the energy industry that obliges producers to pass a certain minimum amount of product through a processing facility or pipeline for a fixed period of time. The existence of such a contract serves as a form of GUARANTEE in support of a project financing. See also TOLLING CONTRACT.
palgrave
0
51.18
11.1
14.1
10.44
11.5
10.16
13.666667
14.67
TIBOR
See TOKYO INTERBANK OFFERED RATE.
palgrave
0
66.4
5.2
0
10.76
8.4
13.36
2.5
10
TICK VALUE
The value of a single price increment of an EXCHANGE-TRADED DERIVATIVE CONTRACT.
palgrave
0
33.92
11.5
0
14.2
11.7
9.5
8
11.47
TIDE PROVISION
A “3-year independent director evaluation” provision included in certain POISON PILL defenses to make them more acceptable to SHAREHOLDERS. The provisions require DIRECTORS to evaluate the nature and status of poison pill defenses every three years to ensure that they remain equitable and appropriate, and do not harm or prejudice shareholder interests.
palgrave
0
19.71
17
0
16.37
19
11.61
21.5
22.71
TIED LOAN
A LOAN granted by one country to another country, with the express condition that the proceeds be used to buy goods and services from the lending country.
palgrave
0
60.99
11.5
0
10.1
14.4
8.48
15.5
12.28
TIER 1 CAPITAL
Core REGULATORY CAPITAL for BANKS, defined by the BANK FOR INTERNATIONAL SETTLEMENTS as COMMON STOCK, RETAINED EARNINGS, PERPETUAL PREFERRED STOCK, and disclosed RESERVES. See also ECONOMIC CAPITAL, TIER 2 CAPITAL.ECONOMIC CAPITAL, TIER 1 CAPITAL.
palgrave
0
11.92
15.8
0
17.4
16.7
12.37
13.5
12.68
TIGHT MARKET
A LIQUID market that features large volume and strong two-way flows, and narrow BID-OFFER SPREADS. ORDER IMBALANCES and one-way quotations are rare in a tight market. See also DEEP MARKET, THIN MARKET.
palgrave
0
69.07
6.3
8.8
10.88
8.9
8.11
5.333333
6.78
TIGR
See TREASURY INVESTORS GROWTH RECEIPT.
palgrave
0
66.4
5.2
0
16.56
13.1
16.52
1.5
2
TIME DECAY
Daily gain or loss impacting the TIME VALUE component of OPTION PREMIUM due to the passage of time; time decay is often used as a practical expression of THETA.
palgrave
0
42.04
14.6
0
9.3
14.5
9.98
19.5
18.5
TIME DRAFT
See BANKER’S ACCEPTANCE.
palgrave
0
59.97
5.6
0
15.03
14.6
14.31
1.5
14.53
TIME ORDER
An ORDER to purchase or sell SECURITIES with a specific time constraint, such as at the close or open of a market, or at some future date. See also LIMIT ORDER, MARKET ORDER, STOP ORDER.
palgrave
0
62.17
8.9
0
6.61
7.8
7.21
8.75
9.29
TIME-TO-DECAY RISK
See FRACTIONAL EXPOSURE.
palgrave
0
9.21
12.7
0
15.03
14.6
14.31
2.5
27.87
TIME TRANCHING
An internal CREDIT enhancement mechanism used in a SECURITIZATION transaction that directs the repayment of PRINCIPAL to the most SENIOR TRANCHES first; once the senior tranche has been repaid, CASH FLOWS are redirected to increasingly SUBORDINATED tranches. See also WATERFALL.
palgrave
0
25.8
14.6
0
16.82
16.7
11.73
15.5
19
TIME VALUE OF MONEY
A central financial concept indicating that the FUTURE VALUE of a sum of money invested today, in an INTEREST-bearing ASSET, is worth more than its current value. By extension, the future value of a sum can be DISCOUNTED at a DISCOUNT RATE to obtain today’s PRESENT VALUE.VOLUME during a defined TRADING period in order to achieve a better aver- age fill price. See also VOLUME WEIGHTED AVERAGE PRICE.
palgrave
0
48.43
12.1
13
10.74
13
10.1
14.333333
13.79
TIMES INTEREST EARNED
A measure of a firm’s ability to cover its DEBT, generally measured as:where EBIT is EARNINGS BEFORE INTEREST AND TAXES and Int is interestEXPENSE.The greater the ratio, the stronger the firm’s INTEREST COVERAGE.
palgrave
0
21.06
18.5
0
14.05
20.7
12.45
22.5
19.26
TIMING OPTION
See DEFERRAL OPTION.
palgrave
0
34.59
9.2
0
7.32
8.3
14.31
1.5
14.53
TIPS
See TREASURY INFLATION-PROTECTED SECURITY.
palgrave
0
-76.41
24.9
0
30.45
26.5
19.62
3
31.6
TOBIN’S Q RATIO
A corporate valuation measure developed by economist Tobin, computed as:where MV is the MARKET VALUE of the firm and BV is the BOOK VALUE of the firm (measured on a REPLACEMENT COST basis).A Q ratio below 1.0 means the firm is earning less than its required rate of RETURN; each marginal dollar invested in ASSETS fails to produce future CASH FLOWS whose PRESENT VALUE is equal to the marginal dollar invested. A ratio above 1.0 means the firm is exceeding the required rate of RETURN.
palgrave
0
36.8
18.7
0
10.29
22.1
10.57
26.75
21.24
TOKKIN
[JPN] An INVESTMENT FUND held by a corporate client and man- aged by a BANK, the ASSETS of which are generally invested in STOCKS.
palgrave
0
64.04
10.3
0
7.67
11.6
10.75
16
16.27
TOKYO STOCK EXCHANGE (TSE)
The primary STOCK EXCHANGE of Japan, originally established in 1878, consolidated in 1943, and reformed in 1949. The exchange features three sections (LARGE CAP STOCKS, MID- CAP STOCKS, and start-up company stocks) and has operated on an elec- tronic basis since the closure of its FLOOR in 1999. See also OSAKA STOCK EXCHANGE.
palgrave
0
61.97
9
11.9
11.08
11.8
10.47
11.166667
11.61
TOLLING CONTRACT
A form of take-or-pay CONTRACT often used for pro- cessing and transportation/distribution in the energy industry that does not require the processor or transporter to purchase input/feedstock or sell the output. See also THROUGHPUT CONTRACT.
palgrave
0
45.25
11.3
0
15.72
15.3
11.27
11.75
12.71
TOM NEXT
Abbreviated form of “tomorrow-next,” referring to FOREIGN EXCHANGE and MONEY MARKET transactions that are executed tomorrow (t + 1) for delivery the day after that (t + 2). Also known as DEALING OVER TOMORROW, ROLLOVER.
palgrave
0
29.35
13.3
0
12.99
13.2
9.72
12.75
12.66
TON
Common reference for one hundred million. See also BUCK, YARD.
palgrave
0
66.4
5.2
0
7.28
6
8.62
2
6
TOP TICK
The EXECUTION of a TRADE at, or near, the peak of the market.
palgrave
0
83.66
4.8
0
2.36
2.8
5.5
6.5
8.28
TOPIX
See TOKYO STOCK PRICE INDEX.
palgrave
0
100.24
0.5
0
4.96
3.7
10.2
1.5
2
TOPPY
See FROTHY.
palgrave
0
120.21
-3.1
0
-4.51
3.1
11.63
0
0.8
TORPEDO STOCK
A COMMON STOCK that has fallen dramatically and is expected to continue declining, generally as a result of poor financial performance and uncertain prospects.
palgrave
0
21.74
16.2
0
15.38
17.3
12.72
20
22.93
TORT
An intentional or unintentional act of negligence by an individual or company, excluding breach of CONTRACT. A party damaged by a tort may seek remedy in court through a damage lawsuit.
palgrave
0
38.82
11.7
0
10.84
9.9
10.01
11.25
13.94
TOTAL COST
The sum of a company’s VARIABLE COSTS and FIXED COSTS.
palgrave
0
86.71
3.7
0
6.76
4.8
10.45
5
8
TOXIC POOL
A DARK POOL that plays host to aggressive traders or those with rapid execution strategies who may be able to take advantage of INVESTORS with a more passive approach.
palgrave
0
58.96
12.2
0
10.92
15.6
10.52
17.5
15.74
TRACKER FUND
See INDEX FUND.
palgrave
0
93.81
0.9
0
-2.38
0.5
14.31
0.5
1.2
TRACKING RISK
A mechanism for estimating the ACTIVE RISK contained in a PORTFOLIO with ACTIVE BETS. It can be computed as the forecast of the annualized STANDARD DEVIATION of the difference between the PORTFOLIO’s RETURN and the BENCHMARK’s RETURN; since the forecast is model-driven, it must only be regarded as an estimate. See also TRACKING ERROR.
palgrave
0
44.75
11.5
14.1
12.18
12.3
10.09
12.666667
13.87
TRACKING STOCK
A COMMON STOCK based on a portion of a company’s operations (i.e., a separate SUBSIDIARY or business unit). Tracking stocks are priced and traded independently of the company’s primary stock and are per- mitted to pay a DIVIDEND; however, they carry no VOTING RIGHTS and have no legal CLAIM on the main company’s ASSETS.
palgrave
0
44.07
13.8
0
10.62
15.3
11.7
18
14.5
TRADE
(1) A transaction involving the purchase or sale of SECURITIES, COMMODITIES, FOREIGN EXCHANGE or DERIVATIVES, on an EXCHANGE or OVER-THE-COUNTER. (2) The purchase or sale of goods or services across borders.
palgrave
0
31.55
16.6
0
14.34
21
10.78
21.5
18.85
TRADE BARRIER
Any restrictions created by a country in order to impede or limit free TRADE with other countries. Barriers may come in different guises, including QUOTAS, TARIFFS, DUTIES, and restrictive REGULATIONS.
palgrave
0
39.33
11.5
0
14.2
13.1
11.22
11
14
TRADE BILL
A BILL OF EXCHANGE that is used to purchase goods.
palgrave
0
95.17
2.5
0
4.44
2.9
5.71
4
4
TRADE CREDITORS
See ACCOUNTS PAYABLE.
palgrave
0
93.81
0.9
0
9.23
9.9
14.31
0.5
1.2
TRADE DEBTORS
See ACCOUNTS RECEIVABLE.
palgrave
0
34.59
9.2
0
15.03
14.6
14.31
1.5
14.53
TRADE GAP
The difference between a country’s IMPORTS and EXPORTS, which may be either positive (trade surplus) or negative (trade deficit).
palgrave
0
52.19
10.7
0
14.79
15.6
10.4
12.5
11.81
TRADED AWAY
A prospective financial transaction or deal with a cli- ent that one BANK loses to another bank.
palgrave
0
62.68
8.7
0
9.05
9.3
10.05
11.5
11.51
TRADE-THROUGH
The purchase or sale of a STOCK during regular TRAD- ING hours, either as PRINCIPAL or AGENT, at a price that is lower than a PROTECTED BID or higher than a PROTECTED OFFER.
palgrave
0
54.9
13.8
0
7.38
15.2
10.06
20.5
16.84
TRADING
The process of buying and selling ASSETS in order to generate PROFITS from market movements and BID and OFFER SPREADS. Trading is a common line of business for BANKS, INVESTMENT BANKS, SECURITIES FIRMS, BROKER/DEALERS, HEDGE FUNDS, and certain MUTUAL FUNDS.
palgrave
0
51.18
11.1
0
13.17
14.2
12.13
12.5
12
TRADING BOOK
An ACCOUNT used by a DEALER, MARKET MAKER or pro- prietary TRADER that contains all OPEN POSITIONS, including SECURITIES, DERIVATIVES, and other CONTRACTS, along with any relevant HEDGES.
palgrave
0
26.14
16.6
0
14.68
19.5
12.36
19
18.34
TRADING CURB
See CIRCUIT BREAKER.
palgrave
0
59.97
5.6
0
7.32
8.3
14.31
0.5
1.2
TRADING HALT
The temporary stop of all TRADING activities on an EXCHANGE, which may be the result of breaching a CIRCUIT BREAKER or the onset of an operational or technical difficulty, or a stop in the activities of one SECURITY as a result of breaking news which is expected to have a market impact.
palgrave
0
18.7
23.6
0
9.59
26
10.77
34
26.18
TRADING INDEX (TRIN)
A measure of STOCK market strength that com- pares the number of companies advancing and declining to volume. The gen- eral TRIN formula is given as:where Advnum is the number of advancing issues, Decnum is the number of declining issues, Advvol is the volume of advancing issues, and Decvol is the vol- ume of declining issues.A TRIN below 1.0 is considered a BULLISH signal, while a result above 1.0 is a BEARISH signal. Also known as ARMS INDEX.
palgrave
0
53.55
12.3
13.6
9.58
14
10.39
16.333333
12.96
TRADING PIT
A section of an EXCHANGE that is used for TRADING of a specific ASSET. Trading pits still exist on certain exchanges, but are grad- ually disappearing as OPEN OUTCRY trading shifts to electronic trading. Also known as PIT.
palgrave
0
67.04
7.1
8.8
9.32
7.8
9.67
6.333333
8.24
TRADING PROFIT
In the United Kingdom, OPERATING INCOME.
palgrave
0
31.55
10.4
0
11.07
9
6.57
3
9.07
TRADING SPECIAL
A condition where a SECURITY used as COLLATERAL in the REPURCHASE AGREEMENT market has becomeSPECIAL.
palgrave
0
22.41
13.9
0
15.36
13.4
10.7
12.5
19.33
TRADING UPFRONT
A market situation where the REFERENCE CREDIT in a CREDIT DEFAULT SWAP (CDS) is perceived to be of such weak credit quality that the seller of the swap demands, in addition to the periodic premium payments that accompany a standard CDS, an upfront PREMIUM payment to compensate for the increased likelihood of DEFAULT.
palgrave
0
9.22
25.1
0
12.14
28.7
12.22
36.5
27.99
TRAILING PRICE/EARNINGS RATIO
A PRICE/EARNINGS RATIO that is computed on a rolling basis based on the most recent 12 months’ financial results, with the latest quarterly or semiannual results replacing the oldest data points. See also FORWARD PRICE/EARNINGS RATIO.
palgrave
0
44.75
11.5
0
13.69
13.6
12.42
11.5
12.76
TRANCHE
[FR] A slice or portion of a SECURITIES issue or financing that is characterized by unique features related to CURRENCY, COUPON, MATURITY, CREDIT RATING, and seniority. Tranching is commonly used in SECURITIZATION, multicurrency LOANS, and CERTIFICATES OF DEPOSIT in order to create a range of INVESTMENT selections.
palgrave
0
13.78
17.2
0
15.09
17.4
13.2
18.25
20.46
TRANCHETTE
A small issue of GILTS issued by the BANK OF ENGLAND, intended primarily for RETAIL INVESTORS.
palgrave
0
55.24
9.5
0
10.32
9.8
12.33
9
11.4
TRANSACTION COST
The costs associated with entering into a financial or INVESTMENT transaction, including COMMISSIONS, fees, STAMP DUTIES and/or TAXES, as well as certain indirect costs that support research and oper- ational support. The greater the friction costs, the higher the breakeven point on the initial investment. Also known as FRICTION COST.
palgrave
0
46.06
11
13
14.56
13.9
11.1
11.333333
13.08
TRANSACTION RISK
The RISK of loss arising from adverse CURRENCY movements on corporate operations; PROFITS or LOSSES from such risks are typically reflected directly through the corporate INCOME STATEMENT. Dealings that give rise to transaction risk may be hedged through CURRENCY DERIVATIVES in order to decrease the possibility of loss. Also known as CURRENCY . See also TRANSLATION RISK.
palgrave
0
40.35
11.1
13.4
14.43
12.2
10.25
10.375
12.74
TRANSACTIONAL BANKING
A model of BANKING where a FINANCIAL INSTITUTION focuses primarily on providing clients with specific transac- tional services and support, often attempting to be the low-cost provider on avolume basis of CHECKING, DEPOSITS, TRADE EXECUTION, and LENDING. See also RELATIONSHIP BANKING.
palgrave
0
25.29
14.8
0
16.24
17
13.13
14.75
16.98
TRANSFER
The act of moving an ASSET from one person, ACCOUNT, or company to another. The asset involved may include MONEY, SECURITIES, COMMODITIES, or other property, and it may be accomplished physically or electronically.
palgrave
0
29.35
13.3
0
12.99
12.8
8.76
12.25
13.87
TRANSFER PAYMENT
Noncompensatory MONIES given by a government to the public, such as SOCIAL SECURITY benefits or other PENSION or welfare benefits.
palgrave
0
17.34
15.8
0
14.33
14.7
10.16
15
14
TRANSFER PRICING
Prices charged internally for goods or services within a company, which are ultimately factored into the cost of production.REVOLVING UNDERWRITING FACILITY giving the original UNDERWRITER the RIGHT to transfer its commitment to another BANK.
palgrave
0
3.13
21.3
0
18.29
24.4
12.29
27
24.19
TRANSFEREE
A person or company to whom the TRANSFER of an ASSET is made. See also TRANSFEROR.
palgrave
0
71.82
5.2
0
3.9
2.3
6.99
4
5.7
TRANSFEROR
A person or company that TRANSFERS an ASSET. See alsoTRANSFEREE.
palgrave
0
35.95
10.7
0
11.98
9.5
8.87
6
8
TRANSITION
See RATING MIGRATION.
palgrave
0
34.59
9.2
0
9.23
9.9
14.31
1.5
14.53
TRANSITION PROBABILITY
The likelihood that a company’s CREDIT RATING will migrate from one rating class to another; such PROBABILITIES are essential components of CREDIT MARK-TO-MARKET MODELS. See alsoRATING MIGRATION
palgrave
0
23.93
13.3
0
17.33
14.6
10.74
11.25
15.77
TRANSLATION RISK
The RISK arising from converting ASSETS and LIABILITIES from one CURRENCY to another, with any gains or losses reflected directly in the EQUITY account on the corporate BALANCE SHEET. Translation risk may arise when a company operates SUBSIDIARIES in differ- ent countries, and can be protected through a balance sheet HEDGE. See alsoTRANSACTION RISK.
palgrave
0
44.75
11.5
15
13.8
13.6
10.96
13.333333
15.35
TRAVELER’S CHECK
A prepaid CHECK issued by a BANK that can be exchanged for local CURRENCY or used to pay for goods and services in for- eign countries. The check must be signed and countersigned and accompanied by proof of identity in order to be valid.
palgrave
0
66.07
9.5
0
7.89
10.3
9.75
13
12.44
TREASURER
A professional within a company that is responsible for man- aging all items related to financing, HEDGING, and INVESTMENT, forming part of the TREASURY function.
palgrave
0
29.18
15.4
0
13.87
17.1
12.46
18.5
18
TREASURY
A function within a company that deals with financing, HEDGING, and INVESTMENT.
palgrave
0
42.38
10.3
0
13.27
11.3
12.13
8
11.47
TREASURY BILL RATE
The INTEREST RATE applicable to an issue of TREASURY BILLS. Since Treasury bills are generally issued as DISCOUNT instruments, the interest rate is implicit rather than explicit.
palgrave
0
40.85
10.9
0
14.14
11.8
10.74
10.25
14.29
TREASURY NOTE
In the United States and certain other countries, a DEBT instrument issued by the government as a funding mechanism. Treasury notes are often issued on an AUCTION basis through PRIMARY DEALERS as FIXED RATE, COUPON-bearing, instruments with MATURITIES extending from 1 to 10 years. See also TREASURY BILL, TREASURY BOND, TREASURY INFLATION-PROTECTED SECURITY.
palgrave
0
36.59
12.6
13.6
14.9
14.7
11.96
12.166667
13.87
TREATY FACILITY
A mechanism allowing a CAPTIVE to access the REINSURANCE markets for large exposures. The facility generally reinsures a small percentage of the captive’s exposures and then RETROCEDES the bal- ance through TREATY REINSURANCE.
palgrave
0
37.81
12.1
0
16.01
14.5
12.11
12.75
15.08
TREATY OF ROME
A treaty executed in 1957 that led to the formation of the EUROPEAN ECONOMIC COMMUNITY (as predecessor of the EUROPEAN UNION).
palgrave
0
33.24
13.8
0
11.14
12.9
11.45
17.5
19.83
TREATY REINSURANCE
A REINSURANCE agreement where the primary INSURER agrees to CEDE to a REINSURER a portion of all RISKS conform- ing to preagreed guidelines. Since conforming risks must be assumed by the reinsurer, the insurer is assured of necessary coverage; it also means, however, that the insurer cannot retain in its own PORTFOLIO a full share of conforming risks that may be especially profitable. See also FACULTATIVE REINSURANCE, QUOTA SHARE, SURPLUS SHARE, TREATY FACILITY.
palgrave
0
38.35
13.9
16.7
13.47
16.2
10.68
17.833333
15.75
TRENDLINE
A TECHNICAL ANALYSIS charting technique created by con- necting the highest or lowest prices of a SECURITY or market over time; the resulting line is indicative of an overall directional trend.
palgrave
0
31.55
16.6
0
13.24
18.8
13.32
22.5
21.43
TREYNOR INDEX
A measure of RISK-adjusted PORTFOLIO performance that compares the RISK PREMIUM (or RETURN) earned by the PORTFOLIO with the risk of the portfolio (as reflected through the portfolio BETA). The Treynor index, which uses the SECURITY MARKET LINE as a BENCHMARK, can be computed via:where E(rp) is the expected return of the portfolio, rf is the RISK-FREE RATE, and βp is the beta of the portfolio. See also JENSEN INDEX, SHARPE INDEX. Additional reference: Treynor (1965).
palgrave
0
52.19
10.7
14.2
11.31
12.6
9.98
13.25
12.86
TRIAL BALANCE
A tool used in the DOUBLE ENTRY ACCOUNTING system that adds all ledger account DEBIT columns and CREDIT columns in order to ensure they are in balance. If the two are not in balance, an error has occurred (e.g., error in posting JOURNAL ENTRIES, omission of an account, and so forth).
palgrave
0
62.51
10.9
0
8.48
12.9
10.47
13.25
10.98
TRIAL FINANCIAL STATEMENTS
The preliminary, un-AUDITED FINANCIAL STATEMENTS of a company. Trial financial statements are intended for internal use rather than public disclosure.
palgrave
0
19.03
13.1
0
18.07
14.4
11.24
8
16
TRIANGLE
A TECHNICAL ANALYSIS charting technique that depicts the price of a SECURITY or market in a formation with two base points and a top that gives the appearance of a triangle; a triangle features multiple rallies and retreats, with each subsequent peak occurring at a lower level than the previ- ous one. A BREAKOUT from a triangle may portend a much larger move to the upside or downside.
palgrave
0
36.97
16.6
0
10.17
17.8
10.9
22.5
18.89
TRIN
See TRADING INDEX.
palgrave
0
59.97
5.6
0
3.43
5.2
14.31
0.5
1.2
TRIPLE WITCHING DAY
A single business day when INDEX FUTURES, index OPTIONS, and individual EQUITY options all settle, which occurs once each quarter (i.e., the third Friday in March, June, September, and December). There is evidence to indicate that volume and VOLATILITY increase during triple witching days as INVESTORS, HEDGERS, and SPECULATORS rebalance their positions. See also QUADRUPLE WITCHING DAY.
palgrave
0
43.73
11.9
13.6
14.85
15.5
10.4
12.833333
13.21
TRUE AND FAIR VIEW
In the United Kingdom, FAIR PRESENTATION.
palgrave
0
48.47
8
0
12.05
9.8
6.57
3
9.07
TRUST
(1) A legal vehicle that permits ownership of property by one party for the express benefit of another party. The EE receives TITLE to, but cannot benefit from, the property, and is legally obliged to manage the property in a prudent manner on behalf of the ultimate BENEFICIARY. (2) A monopolistic business entity formed through consolidation or amalgamationof various existing CORPORATIONS, prevalent primarily during the early twentieth century.
palgrave
0
3.13
21.3
0
14.86
21.9
12.52
27
23.01
TRUST DEED
See INDENTURE.
palgrave
0
35.61
8.8
0
4.2
10.2
11.63
1
20.8
TRUST FUND
An INVESTMENT FUND that holds the ASSETS of a TRUST, and which is directed by the TRUSTEE.
palgrave
0
79.6
6.4
0
7.02
7.6
10.05
10.5
11.51
TSE
See TOKYO STOCK EXCHANGE.
palgrave
0
92.8
1.3
0
7.25
6.5
7.78
1
1.6
TUNNEL
See ZERO COST COLLAR.
palgrave
0
75.88
3.7
0
1.45
1.8
7.78
1
1.6
TURBO OPTION
See POWER OPTION.
palgrave
0
59.97
5.6
0
1.52
3.6
9.05
0.5
1.2
TURKEY
A bad INVESTMENT, or a promising deal that has soured.
palgrave
0
86.71
3.7
0
6.18
4.8
8.87
5
8