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London International Financial Futures and Options Exchange:(LIFFE) Major European derivatives exchange, originally founded in London in 1982. 2001 acquired by Euronext (now NYSE Euronext Group). www.liffe.com |
Long:short cut for Long |
Long Market Value:(LMV) Current market value of a stock or bond portfolio, calculated on a daily basis. |
long term growth investments:They are bonds with the long term potential of increase in value (time horizon: one year and more). Typically they are more stable and their value is not increasing fast. |
Loss given Default (LGD):The LGD is the percentage measure for the average expected loss per debt claim given a loan default. It is the loss of a receivable in a ratio to the receivable. |
Low:Designation for the lowest price of a security Contrary: High |
LRMV:Austrian liquididity risk management act (Liquiditätsrisikomanagementverordnung); regulation of the Austrian Financial Markets Authority (FMA) to operationalise the EBA recommendations on liquidity management in Austria. |
M1:sum of cash and sight deposits v. money supply |
M2:M1 plus deposits with a maturity up to two years as well as deposits with an agreed period of notice up to three monthsv. money supply |
M3:M2 plus repos, money market funds and debentures up to two years maturity, deposits with a maturity up to two years as well as deposits with an agreed period of notice up to three monthsv. money supply |
Macauley duration:cp. duration |
Macro-hedge-funds:They are benchmark and index orientated funds which are using the top-down principle. Real bonds, ressources, currencys and futures form the basis of the investment techniques. The objective of the funds is to surpass the market/the benchmark index. |
magic triangle:The magic triangle of asset investment illustrates the conflict between safety, liquidity and yield. Investors try to achieve an optimum amount of coordination of these three factors. |
main refinancing operation:Regular open market transaction of the ESCB for providing short-term bank liquidity. They are issued as weekly standard tenders with an agreed period of 14 days. They are the most important monetary instrument of the ESCB which controls interest rates and liquidity at the monetary market. |
Maintenance Margin:Lower limit of the margin account, which must not be exceeded, otherwise an additional payment will be required. |
mandatory convertible bond:in german nother designation for mandatory convertible bond |
manufactured dividend:In US-style repos interim coupon payments have to be transmitted to the seller of the security by the buyer. This is called manufactured dividend. |
maple leaf:Canadian coin |
margin:deposit which has to be made at the conclusion of certain deals, margins are applicable mainly at exchange-traded futures and options and in repo marketstypes: initial margin and variation margin |
margin call:call for settlement of a variation margincommon at: futures and repos |