Datasets:
sohomghosh
/
FinRAD_Financial_Readability_Assessment_Dataset

Dataset card Data Studio Files Community
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
SHARK
An individual or institution that is able to detect any single strategy being used within the DARK POOL sector and use that knowledge to FRONT RUN or position itself to profit. This is typically done through ALGORITHMS that are specifically designed to identify revealing trading pat- terns. See also GAMING, PINGING.
palgrave
0
45.76
11.1
13
12.24
11.8
10.36
11.5
13.86
SHARK REPELLENT
See ANTITAKEOVER DEFENSE.
palgrave
0
34.59
9.2
0
16.95
16.2
9.05
1.5
14.53
SHARPE INDEX
A measure of RISK-adjusted PORTFOLIO performance that compares the RISK PREMIUM (or RETURN) of the portfolio with its risk (as measured through STANDARD DEVIATION). The Sharpe index, which uses the CAPITAL 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 σ(rp) is the standard deviation of the portfolio. In general, the higher the ratio, the better the investment strategy on a risk-return basis. Also known as SHARPE RATIO. See also TREYNOR INDEX, JENSEN INDEX.Additional reference: Sharpe (1966).
palgrave
0
44.54
11.6
13.7
12.24
13.1
9.74
12.5
12.12
SHARPE RATIO
See SHARPE INDEX.
palgrave
0
93.81
0.9
0
1.52
3.6
14.31
0.5
1.2
SHELL
A form of corporate organization that holds no significant operations of its own, apart from certain ownership stakes in ASSETS or other INVESTMENTS, and which is often created for TAX-purposes in tax-friendly jurisdictions.
palgrave
0
12.6
19.7
0
16.2
22.5
11.02
25.5
24.11
SHELL COMPANY
A company that is registered, and in some cases listed on a STOCK EXCHANGE, but which has no specific operations. A shell company may be used in a REVERSE TAKEOVER by a PRIVATE COMPANY.
palgrave
0
62.68
8.7
0
7.65
8.1
8.19
11.5
10.33
SHIBOSAI
A PRIVATE PLACEMENT denominated in Japanese yen, issued by a foreign company in Japan. See also DAIMYO, GEISHA, SAMURAI, SHOGUN.
palgrave
0
52.87
8.4
0
11.11
9.2
13.61
5.5
8
SHIKKO YAKUIN
The corporate executive officer under the Japanese SINGLE BOARD SYSTEM, responsible for separating the supervisory and execu- tive duties embedded in the BOARD OF DIRECTORS.
palgrave
0
-4.67
20.1
0
16.89
19.1
12.46
22.5
24.4
SHOCK LOSS
A catastrophic loss that is so severe that an INSURER providing INSURANCE coverage related to the loss may suffer FINANCIAL DISTRESS. In practice insurers protect against shock loss by using REINSURANCE mecha- nisms and DIVERSIFICATION techniques, and establishing internal limits related to maximum UNDERWRITING exposures. See also CLASH LOSS.
palgrave
0
21.09
14.4
16.3
16.88
15.2
12.18
13.5
18.76
SHOE
See GREEN.
palgrave
0
120.21
-3.1
0
-7.41
0.8
0.1
0
0.8
SHOGUN
A BOND, NOTE, or CERTIFICATE OF DEPOSIT issued in a foreign CURRENCY in the Japanese markets by a foreign company. See also DAIMYO, GEISHA, SAMURAI, SHIBOSAI.
palgrave
0
49.82
9.5
0
9.96
9.2
10.96
8
11.35
SHOKEN
A Japanese SECURITIES FIRM.
palgrave
0
8.2
13.1
0
10.15
8.8
15.68
3
21.6
SHORT
See POSITION.
palgrave
0
-6.7
14.7
0
1.3
7.8
11.63
1
20.8
SHORT AGAINST THE BOX
A practice of BORROWING SECURITIES from a SECURITIES FIRM or BROKER/DEALER and selling them SHORT in order to protect gains embedded in an offsetting LONG POSITION. From a TAX perspective, shorting against the box is generally considered a “construct- ive sale” that generates a CAPITAL GAINS LIABILITY.
palgrave
0
30.7
14.8
0
14.1
16.1
11.19
18.25
17.91
SHORT ARBITRAGE
An ARBITRAGE strategy employed in the FUTURES market when the FORWARD RATE is higher than the futures rate, indicat- ing that the cash market is underpriced to the futures market; the strategy calls for buying the UNDERLYING ASSET and selling futures. See also LONG ARBITRAGE.
palgrave
0
48.64
12.1
0
12.25
14.1
9.31
14.75
13.44
SHORT BILL
A BILL OF EXCHANGE that is payable on demand or on very short notice.
palgrave
0
91.11
4
0
4.92
4.4
6.59
6
5.6
SHORT CARRY
The CARRY generated by a SHORT position, defined for FIXED INCOME positions as daily financing income less daily COUPON cost. See also LONG CARRY.
palgrave
0
50.84
9.2
0
10.83
8.7
8.84
7
11.47
SHORT COUPON
A COUPON falling between a normal current coupon period, often associated with the first INTEREST payment on a BOND or NOTE; subsequent coupons generally revert to a normal monthly, semiannual, or annual cycle.
palgrave
0
21.06
18.5
0
13.7
20.5
12.93
23.5
21.68
SHORT COVERING
The process where BEAR INVESTORS or SPECULATORS with SHORT positions repurchase the STOCK or ASSET in order to reduce or flatten their shorts. Short covering occurs when a BEAR SQUEEZE is antici- pated or underway.
palgrave
0
53.71
10.1
0
11.77
11.5
10.82
11.75
13.86
SHORT END
The short MATURITIES of the YIELD CURVE, generally considered to include those less than 3 years. See also BELLY OF THE CURVE, LONG END.
palgrave
0
67.76
6.8
0
8.16
6.8
9.5
6.5
9.8
SHORT HEDGE
A SHORT POSITION in a DERIVATIVE or financial instru- ment that is used to protect a natural LONG POSITION. As falling prices create a loss on the natural long position, the short hedge produces an offsetting gain; the reverse occurs with rising prices. See also LONG HEDGE.
palgrave
0
55.54
9.4
12.5
9.8
9.2
9.12
10.5
10.54
SHORT INTEREST
The amount of SECURITIES or ASSETS sold SHORT that have not been repurchased or closed out. In general, the greater the level of short interest, the greater the likelihood that INVESTORS are expecting a decline in a security or market; however, a large short interest balance lasting for an extended period of time may also lead to buying pressure as short inves- tors and SPECULATORS seek to cover their positions.
palgrave
0
35.95
16.9
0
11.38
19.3
10.11
24
19.71
SHORT INTEREST RATIO
The ratio of shares of STOCK sold SHORT versus average daily TRADING volume, often used as a technical indicator to deter- mine whether the market is OVERBOUGHT or OVERSOLD. See also SHORT INTEREST.
palgrave
0
54.73
9.7
0
10.9
10.5
10.68
10.25
11.45
SHORT RATE MODEL
A form of mathematical model used in the pricing of INTEREST RATE DERIVATIVES which relies on the use of a short (e.g., one period) rate as the center of modeling process, generally a RISK-FREE RATE. Short rate models may be constructed as SINGLE FACTOR MODELS or MULTIFACTOR MODELS. See also FORWARD RATE MODEL.
palgrave
0
53.51
10.2
12.5
9.8
10.5
9.58
11.5
13.12
SHORT SALE
The sale of a borrowed position that establishes a SHORT POSITION. The party selling short expects that the market price of the ASSET, SECURITY, or INDEX sold short will decline. See also NAKED SHORTING.
palgrave
0
60.01
7.7
9.7
9.67
7.8
9.31
6
8.05
SHORT SELLER
An INVESTOR, HEDGER, or SPECULATOR that engages in SHORT SALES in order to capitalize on expectations that the price of an ASSET, SECURITY, or INDEX will decline.
palgrave
0
35.61
15
0
11.15
15.8
11.41
17.5
16.73
SHORT SELLING
The act of creating a SHORT SALE.
palgrave
0
89.75
2.5
0
1.57
0.3
6.24
3.5
8.51
SHORT TENDER
The process of using borrowed COMMON STOCK to fulfill the terms of a TENDER OFFER.
palgrave
0
73.17
6.8
0
8.05
7.4
11.75
6.5
6
SHORT-TERM DEBT
Any form of DEBT with a MATURITY of less than 1 year. See also CURRENT LIABILITIES, LONG-TERM DEBT, MEDIUM-TERM DEBT.
palgrave
0
69.79
6
0
7.92
6.6
8.87
5
8
SHORT-TERM MONETARY SUPPORT
Funds made available by the EUROPEAN CENTRAL BANK to member nations that have not yet adopted the EURO for assistance in managing BUDGET DEFICITS. The funds are typically due and repayable within 3 months.
palgrave
0
62.68
8.7
0
11.42
10.9
11.91
10.5
11.51
SHORT THE BASIS
An ARBITRAGE or TRADING strategy where a SHORT POSITION in a cash instrument is HEDGED by a LONG POSITION in FUTURES or FORWARDS.
palgrave
0
48.13
12.3
0
9.75
12
10.27
16.5
16.16
SHOUT OPTION
An OVER-THE-COUNTER COMPLEX OPTION that allows the buyer to lock in any gains when a “shout” is declared (i.e., the buyer formally declares its intention to lock in); gains are not lost if the marketsubsequently retraces. See also CLIQUET OPTION, FIXED STRIKE SHOUT OPTION, FLOATING STRIKE SHOUT OPTION, LADDER OPTION.
palgrave
0
54.56
11.9
0
12.71
16.4
9.93
14.5
12.4
SIFMA
See SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATION.
palgrave
0
-28.7
19
0
22.34
17.1
15.26
6.5
25.66
SIGHT DEPOSIT
Any form of DEPOSIT placed by a DEPOSITOR with a BANK that can be withdrawn on demand.
palgrave
0
71.14
7.6
0
5.97
6.5
8.19
8.5
9.15
SIGHT DRAFT
A BILL OF EXCHANGE, DRAFT, or NEGOTIABLE INSTRUMENT that is payable to the holder upon presentation.
palgrave
0
55.24
9.5
0
12.18
11.6
9.36
11
13.9
SILENT PARTNERSHIP
A form of PARTNERSHIP where one of the PARTNERS provides CAPITAL but does not participate in the management of the operation. Also known as SLEEPING PARTNERSHIP. See also ACTIVE PARTNERSHIP, GENERAL PARTNERSHIP, LIMITED PARTNERSHIP.
palgrave
0
34.63
11.2
14.1
14.65
11.8
8.38
8.333333
10.4
SIMPLE BREAKEVEN
A measure of the number of years it takes for the YIELD ADVANTAGE of a CONVERTIBLE BOND to cover the initial CONVERSION PREMIUM paid by the INVESTOR in acquiring the bond, typ- ically computed as:where Convprem is the conversion premium and YA is the yield advantage. See also ADJUSTED BREAKEVEN, EQUIVALENT BREAKEVEN.
palgrave
0
45.09
13.4
0
12.13
15.7
10.7
18.5
16.55
SIMPLE YIELD
A method of computing the annual YIELD on a BOND, com- monly used in the JAPANESE GOVERNMENT BOND market. The standard form of the calculation is:where C is the annual COUPON, Par is the PAR VALUE of the bond, P is the price of the bond, and t is the number of years until MATURITY. See alsoBOND EQUIVALENT YIELD, CURRENT YIELD, DISCOUNT YIELD, TAXABLE EQUIVALENT YIELD, YIELD TO CALL, YIELD TO MATURITY.See also SIMULATION METHOD.
palgrave
0
54.56
11.9
14.1
9.46
13.5
9.72
16.166667
13.73
SIMULTANEOUS PAY BOND
See PLANNED AMORTIZATION CLASS (PAC) BOND.
palgrave
0
73.85
4.5
0
12.05
10.6
14.46
3
9.07
SIN STOCK
The STOCKS of companies involved in “sin” industries, generally taken to mean tobacco, spirits, and gaming.
palgrave
0
29.86
13.1
0
14.32
13.7
11.34
12
13.9
SINGLE FACTOR MODEL
A form of mathematical model used in the pricing of INTEREST RATE DERIVATIVES in which all of the uncertainty related to the future movement of interest rates is captured in a single factor, generally a short-term rate. The entire TERM STRUCTURE is evolved from the singlerate. Also known as ONE FACTOR MODEL. See also FORWARD RATE MODEL, MULTIFACTOR MODEL, SHORT RATE MODEL.
palgrave
0
47.28
10.5
11.7
11.08
10.2
8.99
9
11.36
SINGLE LIFE ANNUITY
An ANNUITY that is paid only to the BENEFICIARY during his/her lifetime, with no subsequent transfer to a survivor.
palgrave
0
43.73
11.9
0
11.43
12.1
9.57
12.5
13.92
SINGLE MARKET
The framework established in 1986 under the Single European Act requiring EUROPEAN COMMUNITY nations to create the frame- work for removal of barriers to TRADE, capital movement, and personal move- ment by 1992. Also known as EUROPE 1992.
palgrave
0
43.73
11.9
0
12.47
13
10.81
13.5
13.92
SINGLE PEG
A MANAGED FOREIGN EXCHANGE RATE technique manage- ment where a country’s CENTRAL BANK or monetary authority pegs the value of its currency to another CURRENCY. See also COMPOSITE PEG.
palgrave
0
39.84
11.3
0
12.52
11
10.89
10.25
11.32
SINGLE PREMIUM INSURANCE
A form of life INSURANCE where the INSURED pays in one sum of money to secure the policy, rather than a series of regular PREMIUMS.
palgrave
0
54.56
11.9
0
7.38
11.2
9.93
16.5
16.4
SINGLE STOCK FUTURE
A FUTURES CONTRACT where the UNDERLYING reference ASSET is a STOCK, generally a LIQUID, large capitalization issue. Single stock futures are traded on selective EXCHANGES.
palgrave
0
33.41
11.7
0
15.01
12.5
11.84
7.75
13
SINGLE TEXT METHOD
A process where existing, and disparate, INSURANCE CONTRACTS are redrafted into a new master policy so that all covered PERILS are included under a single agreement. See also ATTACHMENT METHOD.
palgrave
0
47.79
10.3
0
13.04
11.8
11.22
10.5
14
SINKER
A BOND that contains a SINKING FUND provision in theINDENTURE.
palgrave
0
61.33
7.2
0
11.4
8.5
13.61
6
12
SINKING FUND
(1) Funds that are accumulated in a segregated account in order to retire DEBT on a specific schedule. The sinking fund can be satisfied by direct contributions to the account or by redeeming or repurchasing the debt. (2) A SELF-INSURANCE fund that a company establishes to cover RISKS that it chooses to retain. (1) See also DOUBLING OPTION, SINKER.
palgrave
0
33.07
16
0
10.86
16.6
11.26
19.75
17.9
SIPC
See SECURITIES INVESTOR PROTECTION CORPORATION.
palgrave
0
-35.13
19.4
0
27
21.6
16.52
4.5
26
SISTER CAPTIVE
A CAPTIVE formed as a licensed INSURER or REINSURER that acts as an extension of the PURE CAPTIVE, writing INSURANCE cover primarily for other companies forming part of the same “economic family,”
palgrave
0
22.08
18.1
0
12.83
18.9
10.65
24
21.55
SIV
See STRUCTURED INVESTMENT VEHICLE.
palgrave
0
8.2
13.1
0
20.3
17.1
15.68
3
21.6
SIV LITE
A form of a STRUCTURED INVESTMENT VEHICLE that fea- tures a finite life and generally a higher degree of LEVERAGE.
palgrave
0
51.18
11.1
0
9.69
10.9
12.52
13
14
SIZE
A large offering of, or position in, SECURITIES or other financialASSETS.1where N is the number of observations, xi is an observation, μ is the mean, σ is the STANDARD DEVIATION.See also KURTOSIS, NORMAL DISTRIBUTION.
palgrave
0
11.59
20.1
0
13.18
21.1
12.75
26
24.19
SKIP DAY SETTLEMENT
A market practice where the SETTLEMENT of SECURITIES takes place one day after the normal settlement day.
palgrave
0
54.22
9.9
0
12.47
11.8
8.19
11.5
9.15
SLEEPING BEAUTY
A company that is a possible TAKEOVER candi- date as a result of large cash holdings, undervalued ASSETS, and/or underper- forming operations.
palgrave
0
23.77
15.4
0
13.05
15.5
11.19
16
14.25
SLEEPING PARTNERSHIP
See SILENT PARTNERSHIP.
palgrave
0
59.97
5.6
0
13.12
13
9.05
1.5
14.53
SLIP
A document prepared by a BROKER for an UNDERWRITER at LLOYD’S OF LONDON which contains all relevant information on the RISK being underwritten and the specific terms and conditions. The underwriter agreeing to accept the risk signs the slip, which is then circulated by the broker to other underwriters, until the coverage is completed.
palgrave
0
27.15
16.2
0
13
16.8
10.82
19.5
18.95
SLOW LOAN
A LOAN where the BORROWER has become delinquent on INTEREST and/or PRINCIPAL payments; a slow loan must generally be reclas- sified as a NONACCRUAL LOAN and LOAN LOSS RESERVES must be allocated in anticipation of a possible write-off.
palgrave
0
24.45
19.3
0
12.6
22
10.51
27
22.57
SMALL CAP STOCK
The COMMON STOCK of a company with a small MARKET CAPITALIZATION, typically under $1 billion. See also ANKLE BITER, LARGE CAP STOCK, MICROSTOCK, MID-CAP STOCK.
palgrave
0
41.87
10.5
0
11.3
10.3
9.94
7.25
9.8
SMALL COMPANY
In the United Kingdom, a PRIVATE COMPANY with NET WORTH, REVENUES, and staffing that do not exceed specified levels, and which are therefore permitted to prepare FINANCIAL STATEMENTS according to a different set of rules than those applied to PUBLIC COMPANIES.
palgrave
0
29.86
19.3
0
14
24.4
11.06
27.5
21.28
SMALL GROUP
In the United Kingdom, a group with NET WORTH, REVENUES, and staffing that do not exceed specified levels, and which are therefore permitted to prepare FINANCIAL STATEMENTS according to a dif- ferent set of rules than those applied to PUBLIC COMPANIES.
palgrave
0
38.32
18.1
0
12.72
23.4
11.45
25.5
21.28
SMALL PRINT
See FINE PRINT.
palgrave
0
119.19
-2.7
0
-2.38
0.5
0.15
0.5
1.2
SMART CARD
A plastic card with an embedded microchip that contains details of the holder’s financial and other records, and which can be used for a variety of purposes, including withdrawal or transfer of MONEY.
palgrave
0
37.98
16.2
0
12.31
19
11.49
22.5
20.47
SMART MONEY
Sophisticated and successful INSTITUTIONAL INVESTORS that have a strong record of performance in INVESTMENT and which are often the first to identify and exploit market opportunities.
palgrave
0
19.71
17
0
18.05
20.2
10.39
20
21.17
SME LOAN
See SMALL AND MEDIUM ENTERPRISE LOAN.
palgrave
0
73.85
4.5
0
9.15
6.7
9.2
3
9.07
SMOOTHING
The process of manipulating FINANCIAL STATEMENTS in order to create a more appealing, less volatile, picture of earnings. Though such smoothing is contrary to ACCOUNTING principles that mandate a true and fair evaluation of the financial position, it can be difficult to detect and prevent in all cases.
palgrave
0
38.66
13.8
0
13.35
15.7
11.08
16.5
16.27
SMURFING
A process in MONEY LAUNDERING where a large sum of MONEY is divided into many small transactions in order to integrate it into the financial system without detection by the authorities.
palgrave
0
31.55
16.6
0
12.14
17.6
9.76
22.5
21.43
SNAKE
A FOREIGN EXCHANGE regime developed in 1972 to keep cer- tain European CURRENCIES TRADING within a BAND. The snake was ultim- ately replaced by the more robust and formalized EUROPEAN MONETARY SYSTEM.
palgrave
0
46.78
10.7
0
12.35
11.4
12.82
11
12.65
SNIF
See STANDBY NOTE ISSUANCE FACILITY.
palgrave
0
32.56
10
0
13.08
10.3
13.36
2.5
10
SNIFFER
An ALGORITHM that is used for PINGING and, ultimately, GAMING of a DARK POOL. Also known as SWEEPER.
palgrave
0
70.8
5.6
0
6.41
4.8
8.47
4.5
8.04
SNOWBALLING
A market phase where the activation of STOP ORDERS leads to additional upward or downward market movements, which trigger more stop orders, and so forth, until a significant sequence of stops and market moves have occurred. See also GATHER IN THE STOPS.
palgrave
0
58.62
10.3
0
11.31
12.9
9.57
12
11.26
SOCIAL SECURITY
In the United States, United Kingdom, and certain other countries, a government-run entitlement program providing retirees with retirement INCOME, unemployment income, and/or disability/health benefits.
palgrave
0
-12.11
20.9
0
24.08
25.7
10.75
19
19.6
SOCIEDAD ANONIMA (SA)
In Mexico, Portugal, and certain other countries a CORPORATION that is publicly traded. In all countries minimum CAPITAL requirements must be met in order to qualify.LIABILITY COMPANY.
palgrave
0
23.93
13.3
0
15.01
12.9
10.15
10.75
15.77
SOCIETA PER AZIONI (SpA)
In Italy, a limited share company.
palgrave
0
56.93
6.8
0
5.27
4.3
9.2
4
9.07
SOCIETE ANONYME (SA)
In France, Belgium, Luxembourg, and certain other countries, a CORPORATION that is publicly traded. In all countries min- imum CAPITAL requirements must be met in order to qualify.
palgrave
0
48.81
9.9
0
12.35
11.3
10.53
8.5
11.31
SOES
See SMALL ORDER EXECUTION SYSTEM.
palgrave
0
32.56
10
0
10.76
8.4
10.2
2.5
10
SOFT LOAN
A LOAN with favorable terms for the BORROWER, including below-market INTEREST RATES, long repayment periods, and a continual deferral or ROLLOVER of PRINCIPAL. A BANK may grant a soft loan in order to win future business, build a client relationship, or achieve some other rela- tionship-driven goal.
palgrave
0
39.16
13.6
0
13.12
15.8
11.19
17.75
17.91
SOFT MARKET
An INSURANCE market cycle where excess SUPPLY of RISK CAPACITY from the insurance sector leads to lower pricing of PREMIUMS. A soft market arises when loss experience of INSURERS has been favorable for a period of time and insurers are willing to write new cover and expand busi- ness; the excess CAPITAL used to cover risks leads to an extremely competitive environment. See also HARD MARKET.
palgrave
0
40.69
13.1
15
11.08
13
10.23
15.333333
14.86
SOFTS
A range of perishable COMMODITIES and related DERIVATIVES, originally applied to tropical commodities such as coffee, sugar, and cocoa, but now generally taken to also include GRAINS, cotton, and orange juice.
palgrave
0
14.63
18.9
0
15.5
21.2
10.78
23.5
21.43
SOLVENCY
A normal state of financial operations for a company functioning as a going concern, where the value of ASSETS exceeds the value of LIABILITIES (i.e., positive EQUITY) and all DEBTS and OBLIGATIONS falling due in the normal course of business are paid on a timely basis. See also IN.
palgrave
0
38.15
14
0
9.87
13.4
10.01
16.25
15.51
SONIA
See STERLING OVERNIGHT INDEX AVERAGE.
palgrave
0
49.48
7.6
0
15.4
12.2
13.36
2.5
10
SOR
See SMART ORDER ROUTER.
palgrave
0
92.8
1.3
0
4.35
4.1
7.78
1
1.6
SORT CODE
A numeric code contained on a CHECK that is used to identify the drawing BANK and the DRAWER’S ACCOUNT.
palgrave
0
69.11
8.3
0
8.36
9.1
8.73
11.5
11.81
SOURCE OF CASH
A transaction that results in a cash inflow to a com- pany; any source of cash is reflected in the CASH FLOW STATEMENT. Typical sources include NET INCOME, DEPRECIATION, medium- and long-term DEBT issuance, COMMON STOCK and PREFERRED STOCK issuance, decreases in ASSET balances (e.g., ACCOUNTS RECEIVABLE, INVESTMENTS), increases in LIABILITIES (e.g., ACCOUNTS PAYABLE, deferrals). See also USE OF CASH.
palgrave
0
42.72
12.3
13.6
13.63
15.6
12.26
13.333333
14.67
SOVEREIGN LOAN
A LOAN made by a BANK, MULTILATERAL DEVELOPMENT BANK, or government authority to another government.
palgrave
0
13.95
15
0
14.2
13.1
7.54
13.5
14
SOVEREIGN RISK
The RISK of loss arising from an action by a sovereign nation, including DEFAULT, MORATORIUM, EXCHANGE CONTROLS, or cur- rency DEVALUATION. A subcategory of CREDIT RISK. See also CONTINGENT CREDIT RISK, CORRELATED CREDIT RISK, COUNTRY RISK, DIRECT CREDIT RISK, SETTLEMENT RISK, TRADING CREDIT RISK.
palgrave
0
31.17
12.6
12.5
14.03
13.2
10.47
9
12.24
SOVEREIGN WEALTH FUND
A government-owned INVESTMENT FUND, operated through the CENTRAL BANK or monetary authority, that invests in a range of real and financial ASSETS in a variety of other countries and market- places. Sovereign wealth funds typically apply a medium- to long-term horizon to their investment strategies.
palgrave
0
31.72
14.4
0
14.86
16.5
12.12
16.25
16.11
SpA
See SOCIETA PER AZIONI.
palgrave
0
75.88
3.7
0
4.35
4.1
15.68
2
11.6
SPARK SPREAD
A SPREAD in the energy market reflecting the price differential between natural gas and electricity; the spread can be traded through a single FUTURE or OPTION contract on certain EXCHANGES. A HEDGER or SPECULATOR can buy the spark spread (e.g., purchase gas and sell electricity) to take advantage of positive MARGINS in generation, and sell thespread (e.g., sell gas and purchase electricity) to profit from negative margins. See also CRACK SPREAD.
palgrave
0
47.42
12.5
14.6
12.83
15.6
9.7
15.833333
14.55
SPE
See CIAL-PURPOSE ENTITY.
palgrave
0
34.59
9.2
0
13.12
14.6
19.58
1.5
14.53
SPECIAL
COLLATERAL in the REPURCHASE AGREEMENT mar- ket that is in tight SUPPLY, and which therefore allows a repurchase agree- ment BORROWER to obtain a lower BORROWING rate. See also GENERAL COLLATERAL.
palgrave
0
47.28
10.5
0
12.53
11.5
11.03
11.25
11.36
SPECIAL CROSSING
In the United Kingdom, a restriction placed on a CHECK that permits the check to be deposited only in the named BANK.
palgrave
0
66.07
9.5
0
7.49
10.1
8.32
13
12.44
SPECIALIST
An individual or firm on an EXCHANGE that acts as a MARKET MAKER in a particular COMMON STOCK. The specialist manages an auction book of BIDS and OFFERS and attempts to maintain a balanced and orderly market at all times. Under certain exchange rules a specialist can deal forits own account as a proprietary DEALER but must adhere to AFFIRMATIVE OBLIGATION (i.e., taking one side of a TRADE if no offsetting ORDER is avail- able in the market) and NEGATIVE OBLIGATION (i.e., not participating in a trade if an order can be matched).
palgrave
0
48.47
14.2
14.6
9.93
16.4
9.93
19.5
16.7
SPECIE
Coinage issued by a country.
palgrave
0
83.32
2.9
0
4.96
3.7
10.2
1.5
2
SPECIFIC INSURANCE
See SPECIAL RISK INSURANCE.
palgrave
0
50.5
7.2
0
10.15
8.8
15.68
2
11.6
SPECIFIC RISK
See DIVERSIFIABLE RISK.
palgrave
0
9.21
12.7
0
13.12
13
14.31
1.5
14.53
SPECIFIC STOP LOSS INSURANCE
An INSURANCE POLICY that becomes effective when a CLAIM breaches an INSURED’s predefined SELF-INSURANCE threshold.
palgrave
0
22.41
13.9
0
20
17.5
13.85
12.5
16.67
SPECULATION
A strategy that involves taking a position in an ASSET or market through financial instruments (e.g., STOCK, BONDS) or DERIVATIVES in an attempt to generate PROFITS; resulting gains and losses are not off- set by underlying exposures/positions, as in a HEDGE transaction. See alsoARBITRAGE, SPECULATOR.
palgrave
0
23.26
15.6
0
14.57
16.8
12.82
17.25
20.56
SPECULATIVE RISK
A RISK exposure that yields the possibility of either a PROFIT or a LOSS. See also PURE RISK.
palgrave
0
70.8
5.6
0
4.78
2.9
8.47
4.5
8.04