投资银行的专业术语及解释.docx
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投资银行的专业术语及解释
投资银行的专业术语及解释2012年03月02日20:
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Theglossarybelowgivesdefinitionsforanumberofwordsandphrasesthatyouwillbelikelytocomeacrossinyourapplication.
A
AllOrdinaries:
Atypeofbondindex.
Analyst:
Apersonwhocontributesstrategicdatafromthestudyingoffinancialmarketsandcomponentsofthem.
AssetManagement:
Theprofessionalmanagementoftheassetsofprivateindividuals,orinstitutions,aimedattherealisationofanoptimalinvestmentresult.
Assets:
Theresourcesavailabletoanindividualororganisation.
B
BlockTrade:
Atradeinvolvingalargequantityofstockormonetaryamountofbonds.
Bond:
Initssimplestform,abondisaloanunderatermofcontractfortheborrowertorepayataspecificdateinthefuture,andatanagreeduponinterestratetheamounttothelender.
Brokerage:
Acommissionorchargebyanintermediary,suchasastockbroker,fortheexecutionofatransaction.
C
CapitalAdequacy:
Measureofacompany'sfinancialstrength,oftenexpressedinequityasapercentageofbalancesheettotal.
ClearingandSettlement:
Aprocessofcompletingatransaction.
CommercialPaper:
Debtinstrumentissuedbylargecompanieswithatermof1to12monthsasanalternativetobankborrowings.
Commission:
Paymentsmadebytheproviderofaproducttoitssellerforitssale/maintenance.
ConvertibleBond:
Acreditinstrumentwhichisconvertibleintoequity.
CorporateBond:
Obligationsissuedbycorporations.
CorporateFinance:
Activitiesinfieldsofmergers,acquisitions,privatisations,advisoryservicesandorigination.
CreditRating:
Theassessmentofthefinancialsituationofacountry,companyorinstitutiontoestablishcreditworthiness.
Currency:
Moneyincirculationasameansoffinancialexchange.
CurrencyRisk:
Priceriskrelatingtoexchangeratesfluctuations.
D
Derivatives:
Financialinstrumentswhosevalueisderivedfromthepriceofoneorseveralunderlying.
Disclosure:
Thereleaseofinformationrelevanttoatransaction.
E
EconomicProfit:
Netprofitaftertaxlessrisk-adjustedcostofcapital.
Economics:
Thescienceoftheproductionandconsumptionofgoodsandservices.
Equity:
Thevalueoftheownershipofaninvestment.
F
FinancialModels:
Toolsusedtodeterminethevalueofaninvestmentinacompany,commodity,currency,governmentinitiative,etc.Ananalystmayconsiderpastperformance,markettrends,politicalclimateandoverallvalueoftheissuer,
forexample.
FixedIncome:
Interest-bearingnotes,bondsandbillsthatpayaspecifiedpercentageofinterestoverthelifeoftheloan.
FundamentalAnalysis:
Theresearchapproachthatconsiderseconomicandmonetaryfactors.
Future:
Acontractobligatingtheholdertobuyorsellacommodityorsecurityataspecificpriceonaspecificdate.
G
GAAP:
GenerallyAcceptedAccountingPrinciples.
H
Hedge:
Istheactofprotectingapositionbybalancingrisks.Hedgescanbeeitherlongorshort.Hedgesareoftendonewithderivativeproducts.
HedgeFund:
Afundinvestedinawaytoprovidebalanceagainstriskstakenasaresultofotherinvestments.
I
InterestRateRisk:
Degreetowhichfluctuationsinlongandshort-terminterestrateshaveanegativeinfluenceonthebank'sresult.
InvestmentBank:
Traditionally,acompanythatpreparesfinancialofferingsforpublicsale.
IPO(InitialPublicOffering):
Thefirstissueofstockorothersecuritiesbyacompanyforsaletothepublic.
Issue:
Aseriesorquantityoffinancialsecuritiesmadeavailableforsale.
J
JointVenture:
Cooperativeventurebetweentwoormoreseparatelegalentities.
M
MarketRisk:
Riskrelatingtofluctuationsinstockexchangepricesand/orinterestrates.
MTN(Medium-termnotes):
Bondswithamaturityof2to10years.
MutualFund:
Afundoperatedbyaninvestmentfirmthatraisescapitalfromshareholderstoinvestinstocks,bonds,options,commoditiesormoneymarketsecurities.
O
Open-endFund:
Amutualfundthatoffersandredeemsitssharesonadailybasis.
Options:
Therighttobuyorsellacommodityorsecurityonaspecificdateforapredeterminedprice.Theinvestorforfeitstheinvestmentmoneyiftherightisnotexercisedbytheoptionexpirationdate.
P
PreferenceShare:
Sharethatreceivesafixedrateofdividendpriortoordinaryshares.
PrivateBanking:
Dedicatedtothedevelopmentandexecutionofthepolicyinrelationtohighnet-worthclientsandsmallandmedium-sizedinstitutionalinvestors.
PrivateEquity:
Investmentcapitalprovidedbyindividualsorclosely-heldcompanies.
PublicOfferings:
Processanddocumentsrelatedtomakingsecuritiesavailableforsaletothepublic.
Q
QualitativeResearch:
Researchintohowaninvestment'sresultswereachievedincludingthequalityofthepeople,strategies,systemsandinfrastructurethatachievedthem.
QuantitativeResearch:
Numbers-relatedresearchusingstatisticalanalysisofpastperformanceofcompanies,products,segments,etc.
S
ScenarioAnalysis:
Methodusedtomeasureandmanagetheinterestraterisk,forinstance.Usingvariousassumptionsaboutfutureinterestratemovements,netinterestrevenueisestimated.
Securities:
Stocksandbonds.
Stock:
Ownershipofapieceofacorporationrepresentedinshares.
Syndicate:
Agroupofinvestorsthatagreestopurchasesecuritiesfromanissuerforresale.
T
Traders:
Peoplewhobuyandsellsecuritiesforbrokers,dealers,andfortheirownaccounts.
TRS(TotalReturntoShareholders):
Sharepriceappreciationplusdividendyield.
V
VentureCapital:
Investmentinriskcapitalofbusinessfortheaccountandattheriskofthebank.
Volatility:
Statisticalmeasureforthedegreetowhichmarketratesfluctuateovertime.