投资银行的专业术语及解释.docx

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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21

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.