AccrualIt is an accounting term. It describes the method for recording revenues and expenses when they are incurred. It is not of no importance for this method of recording when cash is exchanged.
AcquisitionThis term refers to a company’s takeover of another company. The acquiring company will take over another company by buying its ownership stake, whether the majority of it or its entirety.
AlertInteracInvestor alerts, also called trading alerts, allow traders to set specified criteria and be immediately notified once these criteria have been met. There are three types of alerts in trading: economic announcements, price alerts, and indicator alerts.
AmortizationIt is the process of spreading the repayment of a loan or the coast of an intangible asset over a specified time frame. Banks or copyright agencies set the condition of the spreading the repayment, allowing for amortization for a number of months or years. Amortization usually incurs interest payments, set at the discretion of the lender.
AnalystIt is a financial professional who is qualified to evaluate investments and makes recommendations to sell, buy, or hold an asset.
Annual General Meeting (AGM)It is a yearly gathering between a company’s shareholders and its board directors. It is the only time when shareholders and directors meet. At AGM, directors present the company’s annual report.
AppreciationA product appreciates when its price goes up in response to market demand.
ArbitrageIt is a term related to trading. It is the practice of buying and selling an asset simultaneously to take advantage of a difference in price. The asset is usually sold in a different market, in a different form, or with a different financial product.
AssetIt is an economic resource that is owned or controlled to return a profit or a future benefit. In financial trading, the term relates to what is being exchanged on markets; that is, to stocks, bonds, currencies, and commodities.
Bar ChartIt is a type of the chart which consists of four significant points: the high and the low prices, which form the vertical bar; the opening price, which is marked with a horizontal line to the left of the bar; and the closing price, which is marked with a horizontal line to the right of the bar.
Base CurrencyIt is a term related to trading. it is the first currency quoted in a forex pair. It is also the accounting currency used by banks and other businesses.
BasingA chart pattern used in technical analysis that shows when demand and supply of a product are almost equal. It results in a narrow trading range and the merging of support and resistance levels.
Bear MarketA market is referred to as Bear Market when it follows a prolonged downward trajectory. Traders then have no hope for a rally.
BearishThis word refers to investors’ attitude to a market. When traders or investors say that the market or an asset is bearish, they believe that it is going to experience a downward trajectory.
BidThis term refers to trading and investing. It is an amount a buyer is willing to pay to buy a financial instrument.
Bid PriceThis is the price at which the market is prepared to buy a product. Prices are quoted two-way as Bid/Ask. In FX trading, the Bid represents the price at which a trader can sell the base currency, shown to the left in a currency pair. For example, in the quote USD/CHF 1.4527/32, the base currency is USD, and the Bid price is 1.4527, meaning you can sell one US Dollar for 1.4527 Swiss francs. In CFD trading, the Bid also represents the price at which a trader can sell the product. For example, in the quote for UK OIL 111.13/111.16, the Bid price is £111.13 for one unit of the underlying market.
Blue-Chip StocksThese are shares of companies that are financially stable, reputable, and long-established within their sector.
BondsIt is a form of financial investment involving lending money to an institution for a predetermined period of time. Bonds can be of two types: corporate bonds and government bonds, depending to what institution the lending is made.
Book ValueThis type of value refers to what a business is worth according to its financial records. It is contrasted to market value, a company’s worth according to financial markets. The company’s market price is the current market price per share multiplied by the total number of outstanding shares.
Brent CrudeThis type of value refers to what a business is worth according to its financial records. It is contrasted to market value, a company’s worth according to financial markets. The company’s market price is the current market price per share multiplied by the total number of outstanding shares.
BrokerIt is an independent person or a company organizing or executing financial transactions on behalf of another party. Brokers do this across different asset classes such as stocks, forex, real estate, and insurance. They usually charge a commission to execute an order.
Bull MarketThis term refers to a market or an asset that is consistently following an upward trajectory.
BullishThis term refers to investors’ attitude to markets or assets. Bullish investors and traders believe that the market is going to experience an upward price movement. They also buy an underlying market in order to profit by selling the market in the future, when the price has climbed.
BuyThis term refers to taking ownership of a financial instrument from someone else.
Call OptionIt is a contract that gives a buyer the right to buy a specific asset at a specific price on a specific date of expiry. The buyer is never obliged to do this, however. The value of a call option appreciates, if the asset’s market price goes up.
Candlestick ChartA chart that indicates the trading range for the day as well as the opening and closing price. If the open price is higher than the close price, the rectangle between the open and close price is shaded. If the close price is higher than the open price, this area of the chart is not shaded.
Cash FlowThis is the amount of money coming into and going out of company’s accounts. It is reported in the company’s earnings announcements.
Closing PriceThis is the last level at which an asset was traded before the market closed on any given day. Closing prices are used as a marker, when the assets’ movements over a longer period of time are evaluated.
CollateralThis is an asset given to secure a loan or as a guarantee of performance.
CommissionIt is the charge which an instrument broker levies for making traders on a trader’s behalf.
CommodityIt is a basic physical asset, used as a raw material in the production of goods or services. In trading, commodities are of four types: metals, energy, agricultural, and livestock. The most common examples of commodities traded these days at financial markets are oil, natural gas, gold, silver, platinum, grains, and beef.
Contracts for Difference (CFDs)This is a type of financial derivative used in CFD trading. they are used to trade a variety of financial markets like shares, foreign exchange, commodities, indices, and bonds.
Counter CurrencyThis is the second currency listed in a currency pair.
CPIThis is a Consumer Price Index, an average of several consumer goods and services used to give an indication of inflation.
CurrencyThis is any form of money issued by a government or central bank and used as legal tender and a basis for trade.
Currency OptionIt is a type of option contract that gives the holder the right to buy or sell a currency pair at a given price before a set time of expiry. The buyer is not obliged to do so, however. The holder of the option pays a premium to the seller.
Currency PairThese are the two currencies that make up a foreign exchange rate. For example, EUR/USD (Euro/U.S. Dollar).
Current AccountThis is the sum of the balance of trade (exports minus imports of goods and services), net factor income (interest and dividends), and net transfer payments (foreign aid). The balance of trade is typically the key component to the current account.
Current RatioIt is a measure used to establish a company’s ability to sell its tangible assets to pay off its short-term debt. The current ratio is useful in establishing the liquidity position of a business.
Daily Funded Bet (DBF)This term is used in spread betting to describe a position that remains open until a trader decides to close it. For each day that a bet remains open, an interest adjustment is made to a trader’s account to reflect the cost of funding his or her position.
Day OrderThis is a type of order or an instruction from a trader to a broker to buy or sell a certain asset.
Day TradingIt is a strategy of short-term investment that involves closing out all trades before the market closes.
DerivativesThese are financial products deriving their value from the price of an underlying asset. Traders often use derivatives as a device to speculate on the future price movements of an asset, without buying the asset itself.
Digital OptionsThis option, also known as a digital 100, enables a trader to predict whether a statement about a market is true or false. If traders are correct in their predictions, they earn a profit. If they make a mistake, they lose money.
DividendThis is the portion that a company chooses to return to its shareholders, usually expressed as a percentage.
Double BottomThis is a technical analysis reversal price pattern. After an established downtrend, the last bottom fails to move lower than the previous bottom and prices rise above the last top.
Earnings Per Share (EPS)This is a metric is a company’s earnings figures. EPS are calculated by dividing the total amount of profit generated in a certain period by the number of the company’s shares listed on the stock market.
EDSPThis is an abbreviation for Exchange Delivery Settlement Price. It refers to the price at which exchange-traded derivative contracts are settled. Stock markets use EDSP to calculate the amount that each party to an options or futures contract owes at the time of that contract’s expiry.
ExchangeIt is an open, organized marketplace for commodities, stocks, securities, derivatives, and other financial instruments. The terms exchange and market are used interchangeably.
Expert AdvisorIt’s an automated set of detailed programming instructions on how to open, modify and close trading positions without human intervention.
Expiry DateThis is the point at which a trading position automatically closes.
Federal ReserveThis term refers to the Federal Reserve Banks or Feds. It is the central bank which is in charge of financial stability in the US.
Fiat CurrencyThis is a national currency that is not pegged to the price of gold or silver. The value of fiat currency is based on the people’s faith in the country’s government or central bank that issue this currency.
Financial InstrumentIt is a monetary contract between two parties – the buyer and the seller, which can be traded and settled. The contract represents an asset to the buyer and a financial liability to the seller.
Financial MarketIt is a medium through which assets are traded, with their value determined by supply and demand.
Floating Exchange RateThis term refers to a currency whose price is determined by supply and demand factors relative to other currencies. A Floating Exchange Rate is different from a Fixed Exchange Rate, determined by the government of the given currency.
Force OpenThis is a function on the trading platform that allows traders to enter a new bet in the opposite direction to an existing bet on the same market.
ForexThis is the foreign exchange market where participants convert one currency to another.
Forward ContractThis is a contract which has a defined date of expiry. This contract may vary between different instances. This makes it a non-standardized entity which can be customized according to a traded asset, expiry date, and a particular trading account.
Funding ChargesThese fees are also called Interest Charges. They are levied on leveraged positions held open overnight.
Futures ContractThis is an agreement between two parties to trade an asset at a predefined price on a specified date in the future.
GDPThis an abbreviation of Gross Domestic Product, which is the total value of goods and services produced in a country over a specified period of time. It is used as an indicator of the health and size of a country’s economy.
Gearing RatioIt is a measure used by investors to establish a company’s financial leverage, which is the amount of funds acquired through creditor’s loans, compared to the funds acquired through equity capital.
Gross Profit MarginIt is a way to measure the amount of profit a company has left after subtracting the direct costs associated with selling its goods and services. Gross Margin demonstrates whether a company is generating revenue despite its outgoings.
Guaranteed StopIt is a form of stop loss offering a guarantee of executing your trade at the level a trader specifies.
Hawks and DovesThese are terms used by analysts to categorize members of the Central Bank committee ahead of their votes on monetary policy. Hawks are those members who advocate keeping inflation low as the top priority in monetary policy. Doves are more in favor of expansionary monetary policy, including low interest rates. Hawks tend to favor “tight” monetary policy.
HedgeIt is an investment or trade meant to reduce a trader’s exposure to risk. The process of reducing risk via investments is called hedging.
Index (pl. Indices)It is a grouping of financial assets that are used to give a performance indicator of a particular sector. Examples of the largest global indices are MSCI ACWI Index, MSCI World, S&P Global 100, S&P Global 1200, The Global Dow – Global version of the Dow Jones Industrial Average, Dow Jones Global Titans 50, FTSE All-World index series, and OTCM QX ADR 30 Index.
InflationThis is the increase in the cost of goods and services in an economy. It is also a devaluing of currency, because in the time of inflation, each unit of the currency’s economy is worth less of any good or service.
InterestThis term refers to several things in finance. It refers to the charge levied against a party for borrowing money, which can be a cost or a means of making profit for a trader. Interest can also refer to the portion of a company’s stocks held by a particular shareholder.
Interest Rate This is an amount charged by a lender to a borrower for the loan of an asset, usually expressed as a percentage of the borrowed amount. This percentage usually refers to the amount paid each year (Annual Percentage Rate). But it can refer to payments on a more or less regular basis.
Intrinsic Value This is the true or perceived value of an asset. Intrinsic value is not always identical to an asset’s market price, because assets can be either undervalued or overvalued. Investors use Intrinsic Value in option pricing or assess stocks.
IPOThis is an abbreviation for Initial Public Offering. This term means that a company goes public on a stock exchange.
J-Curve This term refers to a trendline showing an initial loss immediately followed by a large gain. In a chart, this pattern of activity follows the shape of a capital letter “J”.
January Effect This term refers to a seasonal increase in stock prices during January. This increase in prices is attributable to an increase in buying, which follows the decrease in prices typically happening in December, when investors prompt a sell-off.
Job Market This is the market where employers look for employees and employees search for jobs. Also known as the labor market, this is not a physical place but a concept demonstrating the interplay between different labor forces.
Joint-Stock CompanyThis is a business owned by its investors, with each of them owning a share based on the amount of acquired stocks. Usually, joint-stocks companies are too expensive for an individual to fund. The owners of such businesses share in their profits.
Jurisdiction RiskThis is the risk that arises when operating in a foreign jurisdiction. Usually, people face such risk when they do business or lend money in another country.
Key Performance Indicators (KPIs) This term refers to a set of qualifiable measurements used to estimate a company’s overall long-term performance. In particular, KPIs help determine a company’s strategic, financial, and operational achievements, compared to similar companies in the same industry.
Key Rate DurationThis is the measurement used to estimate the value of a debt security or a debit instrument portfolio – bonds – changes at a specific maturity point along the entirety of the yield curve.
Knock-In Option It is a latent option contract that begins to function as a normal option only when a specific price level is reached before expiration.
Knock-Out OptionIt is an option with an inherent mechanism to expire worthless if a predetermined price level in the underlying asset is reached. This option sets a cap on the level an option can reach in the holder’s favor.
Know Your Customer (KYC)This is a standard in the investment industry which ensures companies and advisors know detailed information about their clients’ risk tolerance, investment knowledge, and financial position. KYC protects investment advisors and clients alike.
Leverage This is the concept enabling traders to multiply their exposure to a financial market without committing more money.
Leveraged ProductsThese are financial instruments enabling traders to gain greater exposure to the market without increasing their capital investment. They do so by using leverage.
Liabilities These are debts and obligations that detract from a company’s total value. They have to be paid over a certain period of time.
Limit Order This is an instruction given by a trader to a broker to execute a trade at a particular level which is more favorable than the current market price.
Liquidity This is a term that describes how easily an asset can be sold or bought in the market without affecting its price. When there is a demand for an asset, there is a high liquidity, because in this period, it is easy to find a buyer or a seller for this asset.
Long PositionThis is a position that makes a profit if an asset’s market price increases.
Margin In trading, this term refers to the funds which are required to open and maintain a leveraged position.
Market CapitalizationOften shortened as market cap, this term refers to the total market value of a company’s shares on the market. It is an easy way to determine a company’s size, which, in turn, helps assess the risk of investing in its shares.
Market DataIt is the live streaming of all information related to trade. It includes information about price, bid/ask quotes, and market volume. Market data also encompasses reports on assets and financial instruments. Market data is available across all global markets – stocks, forex, and commodities, and is distributed to companies and individual traders.
Market OrderIt is an instruction from a trader to a broker to execute a trade immediately at the best available price.
Market ValueThis value reflects what a business is worth according to market participants.
Merger This term is used to describe two companies’ decision to combine and become one entity.
MetaTrader It is an electronic trading platform popular among traders around the world.
Moving Average (MA) It is a common indicator in technical analysis, used to analyze price movements of assets while lessening the impact of random price spikes.
Multiplier EffectThis term describes the impact that changes in monetary supply have on economic activity. When a government, business, or individual spends money, it can have an unforeseen effect on businesses and people.
Negative Balance ProtectionThis protection ensures that traders do not lose more than the balance on their account.
Net Change This term refers to the difference between the closing price of the current trading session, compared to the closing price of the previous trading session. Net change can be positive or negative, because it shows whether the markets were up or down a day before.
Net Income It is the total amount of profit made by a company and listed in its earnings report.
Net Operating Income (NOI) It is a calculation used to analyze the profitability of income-generating real estate investments. NOI equals revenue from the property, excluding all necessary operating expenses.
Non-Current AssetIt is a company’s long-term investment, for which the full value is not realized during the accounting year. Non-current asset can also be an item without an inherent value, such as intangible assets, or assets with no fixed expiry, such as land or property.
Offer This term refers to a trader’s expressed intention to buy an asset or financial instrument from another trader or institution.
On Balance Volume (OBV) It is a form of technical analysis enabling traders to make predictions about future price movements based on the asset’s previous trading volume.
Open Position This term refers to a trade still able to generate a profit or incur a loss. when a position is closed, all profits and losses have been realized, and the trade is no longer active. Open positions are either long or short; that is, they allow traders to profit when markets are on the rise and when they are sliding.
Option It is a financial instrument that offers traders the right to buy or sell an asset when its price moves beyond a certain price within a specified time period.
Order It is a request sent by a broker or a trading platform to make a trade on a financial instrument.
Out of Money (OTM)This term refers to a contract that has not yet reached the value of its strike price. In other words, it has no intrinsic value and will expire worthless.
Over-the-Counter Trading (OTC) This term refers to a trade not made on a formal exchange.
P/E Ratio This is an abbreviation for Price-to-Earnings Ratio. It is a method of measuring a company’s value and is calculated by dividing the company’s market value per share by the earnings per share.
Pip It is a measurement in forex trading, defined as the smallest move that a currency can make.
Position This term refers to a trade that can currently incur a loss or make a profit, known as an open position, or to a trade that has recently been cancelled, known as a closed position. Profit or loss on a position is realized only after it has been closed.
Profit and Loss Statement (P&L) It is a financial report providing a summary of a company’s revenue, expenses, and profit. It shows to investors how the company is operating and how much profit it is generating.
Pullback It is a temporary pause or dip in an asset’s overall trend. It should not be confused with a reversal, a more permanent move against the asset’s prevailing trend.
Put OptionIt is a contract that gives the buyer the right to sell an asset at a specified price and at a specific date of expiry. The buy is not obliged to sell, however. The value of a put option increases if the asset’s market price decreases.
Qualified Dividend It is a dividend that falls under capital gains tax rates which are lower than the income tax rates on unqualified, or ordinary, dividends. Qualified dividends are taxed as capital gains at rates of 20%, 15%, or 0%, depending on a specific tax bracket.
Quantitative Easing (QE) It is a form of monetary policy in which a central bank buys longer-term securities from the open market in order to boost the money supply and encourage investment and lending.
Quarter This is a three-month period on a company’s financial calendar acting as a basis for periodic financial reports and the paying of dividends. A quarter refers to one-forth of a year and is expressed as “Q1” for the first quarter, “Q2” for the second quarter, “Q3” for the third quarter, and “Q4” for the fourth one.
Quote Currency It is the second currency listed in a forex pair. It is also called the counter currency.
Quote PriceIt is the price at which an asset was last traded. It is defined as the point where supply meets demand, since it is the price on which the buyer and seller agree.
Rally It is a period in which a price of an asset experiences sustained upward movement. A rally usually happens after a period in which prices have been flat, traded in a narrow band, or experienced a drop.
Range It is the difference between a market’s highest and lowest price in a given period. Range is an indicator of volatility. If the range at the market is wide, this means that it is volatile.
Reserves These are the liquid assets set aside for future use by an individual, business, or central bank. Reserves are usually currencies or gold. For traders, reserves are kept in cash that is quickly accessed.
Resistance Level It is the point on a price chart at which an upward price trajectory is checked by an overwhelming inclination to sell the asset. If a market price is close to a resistance level, a trader can close his or her position taking the profit instead of waiting for the price to fall back.
Return on Capital Employed (ROCE) It is a long-term profitability ratio measuring how effectively a company uses its capital. The metric tells you the profit generated by each dollar or any other currency used.
Reversal It is a turnaround in the price movement of an asset; that is, when an upward trend becomes a downward trend or vice versa.
Risk Management It is the process of identifying potential risks in a trader’s investment portfolio and taking steps to minimize them.
Risks These are the ways in which an investment can bring losses to a trader.
RolloverIt is the process of keeping a position open beyond its expiry.
Scalp It is the act of opening and then closing a position very quickly, in the hope of profiting from small price movements.
Share BuybackThis term refers to a company’s repurchasing of its own shares from investors. This is a tax-efficient way to return money to shareholders. When shares have been repurchased, they are considered cancelled. However, they can be kept for redistribution in the future.
Share Price It is the price of one share in a company. The prices of a share fluctuate according to market conditions. They usually increase if a company is estimated to be doing well; they fall, when a company is not meeting expectations.
Shares These are the units of the ownership of a company, usually traded on the stock market. They are also called stocks and equities.
Shares Trading It is the process of buying or selling of a company’s stock or derivative products based on stock to make a profit.
Short This term refers to a trade that will incur a profit if the traded asset falls in price.
Short Selling It is an act of selling an asset that traders do not currently own, because they hope that its value will drop and they will close a trade at a profit.
Slippage This term refers to a situation where an order executed does not match the price at which it was made.
Spot This term refers to the price of an asset for immediate delivery or to the value of an asset at any exact given time. It differs from an asset’s futures price, defined as the price for delivery at some date in the future.
Spot Price This term refers to the current value of an underlying asset, for which it can be bought or sold with the expectation of immediate delivery. This term is often used in the forex and commodities market.
Spread This is the difference in price between the buy (bid) and sell (offer) prices quoted for an asset.
Stock Exchange It is a centralized location where the shares of publicly traded companies are bought and sold. Stock exchanges differ from other exchanges in that the tradable assets are limited there to stocks, binds, and exchange traded products (ETPs).
Stock Index It is a group of shares used to give an indication of a sector, exchange, or economy. A stock index is made up of a set number of the top shares from a given exchange.
Stop Order This is a type of order that instructs a broker to execute a trade when it reaches a particular level, usually one which is less favorable than the current market price. They are also called stop-loss orders.
Strike PriceThis is the price at which an option can be executed. It is a fixed price under which an underlying asset can be bought or sold.
Tangible Assets These are assets on a company’s balance sheet that have a physical form, including equipment property, machinery, and materials used in production.
Time Value This term refers to the portion of an option’s premium that is attributable to the amount of time left until the option expires. An investor is ready to pay more for an option with a longer time until expiry, because the option has more time to expire in the money.
Trading Floor This is where financial instruments such as stocks, bonds, commodities are bought and sold. They are usually electronic.
Treasury Stock This is the portion of a company’s shares that it keeps in reserve. These shares are not available to the public and do not count towards the total amount of listed outstanding shares.
TrendThis term refers to the time when a market is making sustained moves upwards or downwards. Identifying the beginning and ending of trends is crucial for market analysis. Trends apply to individual assets, sectors, interest rates, and bond yields.
Unborrowable Stocks These are stocks that are not lendable to short sellers. When shares in a company become unborrowable, it is impossible to short sell them in a traditional way.
Underlying Asset This term refers to the financial assets upon which a derivative’s price is based. A derivative is a financial instrument with a price based on a different asset.
Unemployment Rate This term refers to the percent of the labor force that does not have a job. This indicator rises and falls in the wake of changing economic indicators but does not anticipate them.
Unlimited Liability This term refers to the full legal responsibility that business owners and partners assume for all business debts. This liability is not capped. Business owners can pay their obligations through the seizure and sale of owners’ personal assets.
UpsideThis term refers to the potential increase in value of an investment. It is measured in monetary or percentage terms. A higher upside means that the stock has more value than is currently reflected in the stock price.
Valuable Cost This is a busines’ expense which is subject to change when sales volumes change. This means that valuable costs either increase or decrease depending on the company’s present output.
Value Chain It is a business model that describes the full range of activities needed to create a product or service.
Variable Cost This is a corporate expense that changes in proportion to production output. Variable costs decrease or increase depending on a company’s production volume.
Volatility This term refers to the situation at the market when there is a high likelihood of making major, unforeseen short-price movements at any given time.
VolumeIt is the amount of a certain asset that is being traded over a certain period of time. It is often given together with price information, since this information offers another dimension with which traders examine an asset’s price history.
West Texas Intermediate (WTI) It is an oil benchmark central to commodities trading. It is one of the three major oil benchmarks used in trading, alongside with Brent and Dubai/Oman.
White Paper It is an informational document usually issued by a company to promote or highlight the features of a solution, product, or service that it offers.
Wholesale Price Index (WPI) It is an index that measures the changes in the price of goods in the stages before the retail level. It refers to goods sold in bulk and traded between entities or businesses, not between customers.
Wire Transfer It is an electronic transfer of funds via a network that is administered by hundreds of banks and transfer service agencies around the world. This transfer can also be made cash at a cash office.
Working OrderThis term refers to the opening of a stop order or a limit order. It is used to advise a broker to execute a trade when an asset reaches a specific price.
X-efficiency This term refers to the degree of efficiency maintained by firms under conditions of imperfect competition. Efficiency in this context means a company getting the maximum outputs from its inputs, which includes employee productivity and manufacturing efficiency.
XD It is symbol used to signify that a security is trading ex-dividend. It tells investors key information about a specific security in a stock quote.
Xenocurrency This term refers to any currency traded in markets outside of domestic borders.
XTRIt is an extension printed after the ticker symbol for a stock. It indicates that the stock is trading on an ex-rights basis, which means that the buyer of the stock does not have the rights to purchase more shares at a lower price anymore because those rights have expired.
Zero Balance Account (ZBA) It is a checking account where a balance of zero is maintained. When funds are required in this account, the exact amount of money needed is automatically transferred from a central or master account.
Zero-Based Budgeting (ZBB) It is a method of budgeting according to which all expenses must be justified for each new period. The process of zero-based budgeting starts from a “zero base.” Every function within a company is then analyzed for its needs and costs.
Zero-Coupon Bond It is a debt security that does not pay interest. Instead, it trades at a deep discount and renders a profit at maturity, when the bond is redeemed for its full-face value.
Zero-Rated Goods These are products which are exempt from value-added tax (VAT) in countries that use this value taxation.
Zoning OrdinanceIt is a rule defining how property in specific geographic zones can be used. It details whether specified geographic zones are acceptable for residential and commercial purposes.
