- Branche: Financial services
- Number of terms: 25840
- Number of blossaries: 0
- Company Profile:
UBS AG, a financial services firm, provides wealth management, asset management, and investment banking services to private, corporate, and institutional clients worldwide.
Swinging single pricing (SSP) is an innovative method used to calculate the net asset values of investment funds. SSP allows an investment fund to settle the daily transaction costs arising from subscriptions made by incoming investors and redemptions made by outgoing investors. Existing investors will no longer have to indirectly bear these transaction costs because with SSP the charge of the transaction costs is directly integrated into the calculation of the net asset value, with these costs borne by incoming and outgoing investors. Under SSP, the net asset value (NAV) is adjusted daily to take account of net transaction costs; the direction of the swing is determined by the daily net capital flows. Where there are net capital inflows, the swing factor is added to the NAV to take account of subscriptions of fund units; where there are net outflows, the swing factor is deducted from the net asset value to take account of unit redemptions. In both cases, the same NAV applies to all incoming and outgoing investors on a particular date. The swing factors by which the NAV is adjusted are based on external brokerage fees, taxes and duties as well as estimated bid/offer spreads of the transactions which a fund carries out in accordance with the subscriptions or redemptions made on a particular day. Performance figures and portfolio statistics are calculated based on the adjusted NAV
Industry:Banking
Synonym for underwriter listed in prospectus. Term derived from the French «en nom» (meaning «in the name of»).
Industry:Banking
The belief that an adequate supply of goods is important in fighting inflation and that a higher rate of business investment is needed to produce those goods efficiently. A cut in the marginal rates of income taxes is advocated in order to encourage people to work harder as well as to save and invest more.
Industry:Banking
The impairment test is a compulsory lower of cost or market test for valuating fixed assets. The US-GAAP and IFRS accounting principles require a periodic assessment of possible indicators of a lasting impairment loss. The goal is that assets are not carried at more than their recoverable amount.
Industry:Banking
The letter of creidt is an arrangement for the safe negotiation of a payment and credit transaction, esp. in connection with international deliveries of merchandise. The letter of credit covering merchandise consists of a written undertaking on the part of a bank to pay, on instructions from the buyer, a certain amount to the seller within a prescribed period and against surrender of stipulated documents covering the shipment of goods contracted for between seller and buyer, to accept said payment or to negotiate it, or to authorize another bank to make such payments or draft negotiations if the conditions are met. All instructions to open, confirm or advise of a documentary credit must list precisely the documents to be presented. Permissible documents include: bill of lading, insurance documents, trading invoice, consular invoice, certificate of origin, weight and quality certificates. A letter of credit can be revocable or irrevocable.
Industry:Banking
The MiFID requirement for investment firms that conclude transactions in shares (either on their own behalf or on behalf of clients) outside of a regulated market or MTF to make public information relating to those transactions (price, volume time, etc).
Industry:Banking
The MiFID requirement for regulated markets and MTFs to publish current bid and offer prices for shares and the depth of trading interest at those prices. MiFID also introduces a new requirement for systematic internalisers to publish firm quotes in liquid shares which they systematically internalize.
Industry:Banking
The most common form of the commercial letter of credit, the documentary credit is an arrangement for the safe negotiation of a payment and credit transaction, esp. in connection with international deliveries of merchandise. The documentary credit covering merchandise consists of a written undertaking on the part of a bank to pay, on instructions from the buyer, a certain amount to the seller within a prescribed period and against surrender of stipulated documents covering the shipment of goods contracted for between seller and buyer, to accept said payment or to negotiate it, or to authorize another bank to make such payments or draft negotiations if the conditions are met. All instructions to open, confirm or advise of a documentary credit must list precisely the documents to be presented. Permissible documents include: bill of lading, insurance documents, trading invoice, consular invoice, certificate of origin, weight and quality certificates. A documentary credit can be revocable or irrevocable.
Unless expressly stated to the contrary it is regarded as irrevocable. The basis for the execution of documentary credit is provided by the «Uniform Customs and Practice for Documentary Letters of Credit» (UCP) drafted by the International Chamber of Commerce in Paris.
Industry:Banking
The peak to trough decline during a specific record period of an investment or fund. It is usually expressed as the percentage between the peak and the trough.
Industry:Banking
The Relative Strength Index (RSI) is one of the most frequently used indicators in technical security analysis. Shares with an RSI of more than 70% are considered "overbought," while those with an RSI under 30% are "oversold." Some analysts adjust these values according to the market environment.
Industry:Banking
