Cyber*School

Centers or departments of a bank, which serve to settle the affairs of any profit center. These include, for example, Domestic and foreign payment transactions, securities and treasury settlement or electronic banking departments.

Delivery and payment of transactions

Settlement date for all of securities transactions on a regulated exchange. On that day delivery and payment for the securities takes place.

A figure determined by the closing range that is used to calculate gains and losses in futures market accounts. Settlement prices are used to determine gains, losses, margin calls, and invoice prices for deliveries.

Singapore Exchange Entstand established in 1999 as a result of the merger between SIMEX (Singapore International Monetary Exchange) and SES (Stock Exchange of Singapore)

Share capital of a corporation. It corresponds numerically to the nominal value of all shares issued and must be at least EUR 70,000.

Owner of the stocks to which property rights and rights to vote are entitled.

The asset (value), the owner of a share-holder of a public company owns consists of the (market) value of the stock multiplied by the sum of the shares held. A corporate policy focused on shareholder value will seek to maximize the market value of the shares and therefore the market value of the entire company.

Increase the company's value is at the heart of corporate strategy.

The Sharpe Ratio is the a measure for calculating risk-adjusted return and this ratio has become the industry standard for such calculations. The Sharpe ratio is the average return earned in excess of the risk-free rate per unit of volatility or total risk. Subtracting the risk-free rate from the mean return, the performance associated with risk-taking activities can be isolated. Generally, the greater the value of the Sharpe ratio, the more attractive the risk adjusted return. The Sharpe ratio is often used to compare the change in a portfolio's overall risk-return characteristics when a new asset or asset class is added to it.

bonds issued by foreign entities in Japan which are not denominated in JPY, the issuer needs a permission by the Japanese ministry of finance

shortcut for short position

Sold or written put.

Sell an underlying asset without corresponding physical coverage. It creates a short position.

abbr. (Domestic) Systemically Important Banks. Describes banks which would be dangerous for the national financial system if they collapse. (see also SIFI)

abbr. (Global) Systemically Important Financial Institutions. Describes financial institutions whose insolvency / bankruptcy would have a serious effect on the financial markets and would lead to a collapse of the financial system.

Singapore International Monetary Exchange merged 1999 with SES (Stock Exchange of Singapore) to SGX (Singapore Exchange)

cp. duration

the general formula is: I = N * R * D/B whereI = interest amountN = nominal amountR = interest rateD = number of days of the interest periodB = assumed number of days of a year (360, 365 or actual calendar days)

(international) securities idenfitication number