A

1. Absolute change
2. Absolute prepayment speed
3. Absolute terms
4. Access-equals-delivery, implementation
5. Accounting practices
6. Accrued coupon interest
7. Active investment
8. Active investment ETFs
9. Additive approach
10. Adjustable-rate mortgages (ARMs)
11. Adjustable-rate preferreds
12. Advanced measurement approach (AMA)
13. African Development Bank (AfDB)
14. Agency benchmark programs
15. Agency bonds
16. Agency debenture FNMA, usage
17. Agency debt, types
18. Agency market, debt types
19. Agency mortgage-backed security collateral
20. Agency pass-throughs
21. Agency program
22. Aggregate bond ETFs
23. Agricultural commodities
24. Agricultural Credit Act of 1987
25. Alt-A mortgages
26. Alternative ETFs
27. Alternative minimum tax (AMT)
28. Alternative trading systems (ATSs)
29. Alternative trading venues
30. American call option
31. American Depositary Receipt (ADR)
32. American depository receipts (ADRs)
33. American Securitization Forum (ASF), Project Restart
34. Amortization
35. Annuity, present value
36. A-note
37. Anticipation failure, persistence
38. Arab Street, rise
39. Arbitrage, absence
40. Arbitrage CLOs
41. Archipelago (ARCA) exchange
42. Asia Infrastructure Investment Bank (AIIB)
43. Asian Financial Crisis (1997– 1998)
44. Asset allocation model, municipal bonds (relationship)
45. Asset-Backed Alert
46. Asset-backed commercial paper (ABCP)
47. Asset-backed securities (ABSs)
48. Asset-backed speed
49. Asset-liability management (ALM)
50. Asset-liability risk
51. Asset managers
52. Assets
    1. true sale
53. Assets under management (AUM)
54. Asset swap spread
55. At-the-market (ATM) deliverables
56. At-the-market (ATM) documentation
57. At-the-market (ATM) equity financing
58. At-the-market (ATM) financing, follow-on offering (contrast)
59. At-the-market (ATM) market
60. At-the-market (ATM) model
61. At-the-market (ATM) programs
62. At-the-market (ATM) sale
63. At-the-market (ATM) selling strategies
64. At-the-market (ATM) strategy, disadvantage
65. At-the-market (ATM) transaction participants/responsibilities
66. At-the-money forward (ATMF)
67. At-the-money option
68. Auction rate securities (ARSs)
69. Auto ABS issuance
70. Auto ABS outstanding
71. Auto ABS structure
72. Auto loans
73. Automated trading
74. Automatic shelf registration
75. Automobile securitization
76. Average daily trading volume (ADTV)

B

1. Backwardation
2. Balance sheet CLOs
3. Balance sheet constraints
4. Bank Financial Strength Ratings
5. Bank holding companies (BHCs), CCAR requirements
6. Banking services
7. Bank lending, capital market substitute
8. Bank loan ETFs
9. Bank of International Settlements (BIS), clearing definition
10. Bankruptcy-remote entity, creation
11. Bankruptcy-remote SPV
12. Banks
13. Barclays Aggregate Bond ETF
14. Barclays Index Data
15. Basel 1
16. Basel 2
17. Basel 2.5
18. Basel 3 (Basel III)
19. Basel Committee (BCBS 239)
20. Basis
21. BATS
22. Bear-flattening
23. Benchmark issues
24. Bermudan call option
25. Best bid and offer (BBO)
26. Best-efforts basis
27. Best-efforts structure, usage
28. Best execution duties
29. Bid-ask spread
30. Bid-offer spreads, impact
31. Big data
32. Bilateral repo
33. Bilateral transactions, implications
34. Binomial lattice
35. Black log-normal formulae
36. Black normal formulae
37. Blackout dates
38. Black's Call Formula
39. Black-Scholes-Merton Formula
40. Blockchain
41. B-note
42. Bond anticipation notes (BANs)
43. Bond Market Association (BMA)
44. Bonds
    1. computations
    2. creditworthiness
    3. crossing
    4. forward price (FP)
    5. futures basis
    6. last delivery date, parallel shift (contrast)
    7. markets, IDB (historic/current role)
    8. mathematics
    9. option-adjusted spread
    10. option pricing -period setting (example)
    11. weighted average life (WAL), shortening
45. Book-entry transfer, occurrence
46. Bookrunner
47. Book value, triggers (problem)
48. Bootstrap method
49. Bootstrapped discount factor curve, example
50. Bottom-up approach
51. Bowie, David (Bowie Bonds)
52. B-pieces
53. “Breaking the buck”
54. Bretton Woods
55. Bring-downs
56. Broad-based ETFs
57. Broker-dealers
58. Brokered CDs
59. Bullets
60. Bullish-tightener
61. Bull-steepening
62. Business
63. Butterfly trade
64. Buttonwood Agreement
65. Buyers (corporate bonds)
66. Buy order, execution
67. Buy-side
68. Buy-side institutions
69. Buy-side trader

C

1. Calculated loan age (CAGE)
2. Calculation layer
3. Callable bonds
4. Callable CDs, call feature
5. Callable notes
6. Callables
7. Call options
8. Call risk
9. Canadian Overnight Repo Rate Average (CORRA)
10. Capital
    1. notes
    2. reference
    3. structure
11. Capital adequacy ratio
12. Capital, assets, management, earnings, and liquidity (CAMEL)
13. Capitalization ratios, standards (improvement)
14. Capitalization weighted indices
15. Capital markets
    1. development
    2. environment
    3. firms, risk buffers
    4. functioning, impacts
    5. growth industry
    6. IT architecture, viewpoints
    7. mission/questions
    8. reinvention, requirement
    9. risk
    10. risk-IT layers
    11. risk management
16. Capital Markets Union (CMU)
17. Capital One Credit Card Portfolio
18. Capital project development
19. Caplets
20. Cap rates
21. Caps
22. Carry
23. Cash
24. Cash and carry
25. Cash bonds
26. Cash equities
27. Cash-flow CDOs, tranches (purchase)
28. Cash flow CLOs
29. Cash flows
30. Cash-flow triggers
31. Cash flow waterfall
32. Cash injection
33. Cash settled
34. Cash settlement
35. Cash settlement off the curve
36. Catastrophe bonds
37. Central Bank of Russia, ruble defense
38. Central banks, capital market investors
39. Central clearing solutions
40. Central counterparties (CCPs)
41. Centralized limit order
42. Central securities depositories (CSDs)
43. Certificate of Deposit Account Registry Service (CDARS)
44. Certificates of deposit (CDs)
45. Chapter 7 bankruptcy
46. Chapter 11 bankruptcy
47. Character, reference
48. Charge-offs
49. Cheapest to deliver (CTD)
50. Cheapest-To-Deliver (CTD) issue
51. Cheat sheet
52. Chicago Board of Trade (CBOT)
53. Chicago Mercantile Exchange (CME)
54. China
55. Circuit breakers
56. Clean/Dirty price evolution, example
57. Clearing
58. Clearinghouses
59. Client porting
60. Closed-ended funds
61. Closing date
62. Closing date cash flows
63. CMBS 2.0
64. Collateral
    1. assets
    2. availability
    3. certificate
    4. debt
    5. events
    6. first perfected security interest
    7. haircuts
    8. management/lending
    9. manager due diligence
    10. margin holding
    11. pricing
    12. quality tests
    13. reference
    14. squeeze
    15. types
    16. underlying collateral
65. Collateralization practices, problems
66. Collateralized debt obligations (CDOs)
67. Collateralized loan obligations (CLOs)
68. Collateralized mortgage obligations (CMOs)
69. Collateral management agreement (CMA)
70. Collateral manager (CM)
71. Co-location
72. Commercially reasonable basis
73. Commercial mortgage-backed securities (CMBSs)
74. Commercial paper (CP)
75. Commissions
76. Committee on Uniform Securities Identification Procedures (CUSIP)
77. Commodities
78. Commodities Futures Trading Commission (CFTC)
79. Commodity ETFs
80. Commodity pool operator (CPO)
81. Commodity Research Bureau (CRB) Index
82. Commodity trading advisors (CTAs)
83. Common securitization platform (CSP)
84. Common shareholders
85. Common stock
86. Companies, equity issuance (reasons)
87. Company stockholders
88. Competitive advantage, sources
89. Competitive landscape, change
90. Competitive market
91. Comprehensive Capital Analysis and Review (CCAR)
92. Comprehensive liquidity analysis and review (CLAR)
93. Concentration limitations
94. Conditional default rate (CDR)
95. Conditional (effective) prepayment rate
96. Conditional prepayment rate (CPR)
97. Conditional steepener
98. Conditional swap-spread trades
99. Conditions, reference
100. Conduct risk
101. Conforming loans
102. Consolidated tape
103. Consolidated Tape Association Plan/Consolidated Quotation Plan (CTA/CQ Plans)
104. Constant-Daily-Forwards (CDF) method
105. Constant elasticity of variance (CEV) model
106. Constant Maturity Swap (CMS), CMS-based payoffs
107. Constant (par) net asset value
108. Consumer price index (CPI)
109. Consumer prices, seasonality
110. Contango
111. Content, connectivity, and capital (3Cs)
112. Contingent-claim pricing
113. Contingent convertible capital bonds (CoCo bonds)
114. Contingent curve trades
115. Contracts for difference (CFDs)
116. Contract sheets
117. Contract standardization
118. Conventional loans
119. Conversion premium
120. Conversion price
121. Conversion ratio
122. Convertible bonds
123. Convertible capital instruments (CoCos)
124. Convertible preferred stock
125. Convexity
126. Core equity capital
127. Corporate access
128. Corporate board/management oversight
129. Corporate bonds
130. Corporate finance, structured finance (relationship)
131. Corporate governance protocol
132. Corporations
133. Cost of Funds Index (COFI)
134. Counterparties
135. Counterparty credit risk
136. Counterparty risk
137. Coupon, extension
138. Covenant-lite (cov-lite)
139. Coverage ratio
140. Cox-Ross-Rubenstein (CRR)
141. Crash of 1929, impact
142. Crash of 1987
143. Credit
     1. risk
144. Credit analysis
145. Credit card ABS
146. Credit card de-linked structure
147. Credit card owner trust structural features
148. Credit card securitization
149. Credit default swaps (CDSs)
150. Credit Rating Agency Reform Act of 2006
151. Credit ratings
152. Credit-sensitive trading exposures
153. Credit Support Annex (CSA)
154. Credit support, impact
155. Credit Valuation Adjustment (CVA)
156. Credit Value Adjustment (CVA)
157. Cross-border settlements, securities safekeeping chains
158. Crude oil futures contract, standardized terms
159. Cubes
160. Cumulative default rates
161. Cumulative Distribution Function (CDF)
162. Cumulative preferred stock
163. Currency
164. Current Exposure
165. Current report, usage
166. Curvature trades
167. Curve build method
168. Curve interpolation methods
169. Curve trades
170. Custodians
171. Custody

D

1. Daily accrued coupon interest
2. Daily financing interest expense
3. Dark pools
4. Data architecture, impact
5. Data capability, support
6. Data governance principles
7. Data management capabilities
8. Data operations, impact
9. Data processing technologies, usage
10. Data profiling
11. Data providers
12. Data sourcing
13. Data strategy, impact
14. Data transmission, example
15. Data verification representation
16. Day, term (usage)
17. DBRS (credit ratings)
18. Deal analysis
19. Dealer market
20. Dealers, functions
21. Debenture
22. Debit Value Adjustment (DVA)
23. Debt capital markets (DCMs)
24. Debt-downsizing adjustment
25. Debt, equity (relationship)
26. Debt-friendly CLO
27. Debt obligations
28. Debt securities, repurchase
29. Debt service coverage ratio (DSCR)
30. Debt valuation adjustment (DVA)
31. Debt yield (DY)
32. Decimalization
33. Decision making, enablers
34. Decoupled discount curves
35. Deep-in-the-money option
36. Defaulted loan, effects
37. Default events
38. Default fund
39. Default management, coordination (absence)
40. Default risk charge (DRC), addition
41. Defeasance mode
42. Defined benefit
43. Defined contribution structure
44. Delay
45. Delayed-delivery market
46. De-linked trusts
47. Delinquencies
48. De-listing
49. Deliverability
50. Deliverable bonds, basket (forward prices)
51. Delivery conventions
52. Delivery versus payment (DVP)
53. Delivery-versus-payment (DVP)
54. Delta
55. Delta-normal parametric framework
56. Deposit
57. Depositor, role
58. Depository receipts
59. Depository Trust and Clearing Corporation (DTCC)
60. Derivatives
61. Derivatives market infrastructure
62. Descriptive curve
63. Deutsche Boerse
64. Developed-country broad-based ETFs
65. Digi-calls
66. Digitals
67. DirectEdge (Direct Edge)
68. Directional spreads
69. Direct market access (DMA)
70. Direct-pay letter of credit, usage
71. Disclosed reserves/retained earnings
72. Discount bond
73. Discount brokerage firms
74. Discounted receivables, impact
75. Discount factors
76. Discounting, tools
77. Discount margin (DM)
78. Discount notes (DNs)
79. Distress, components
80. Distressed debt
81. Distressed debt securities
82. Diversification properties
83. Diversity score
84. Dividend-received deduction (DRD)
85. Dividends
86. Dodd-Frank Wall Street Reform and Consumer Protection Act
87. Dollar-carry
88. Dollar pricing/pricing conventions
89. Domestic equity
90. Domestic U.S. equity
91. Dow Jones AIG Commodities Index (DJ/AIGCI)
92. Dow Jones Industrial Index, decline
93. Dual-bootstrap process
94. Dual curve construction
95. Due diligence regimen
96. Duration gap
97. Dynamic hedging

E

1. Early payout
2. Earnings before interest, taxes, depreciation, and amortization (EBITDA)
3. Economic capital
4. Economies, funding structure
5. EDGAR System (SEC)
6. Effective date
7. Effective expected exposure (EE), metrics/equations
8. Effective taxable yield
9. Election trading, penetration (asset class basis)
10. Electronic communications networks (ECNs)
11. Electronic order book (EOB)
12. Electronic trading
13. Eligibility criteria
14. Eligible accounts, bank-issued credit card ABS definition
15. Eligible receivables, bank-issued credit card ABS definition
16. Embedded options
17. Emerging bond markets
18. Emerging broad-based ETFs
19. Emerging market (EM)
20. EMIR
21. Endowments, funds usage
22. Energy commodities
23. Energy funds
24. Energy/MLP ATM filings
25. Enhanced equipment trust certificate (EETC)
26. Equal weighted indices
27. Equities
    1. offerings
    2. research
    3. trading technology, evolution
    4. U.S. equities trading/issuance volumes
28. Equity capital markets (ECMs)
29. Equity REIT filings
30. Equity REIT market, focus
31. Equity tranche
32. Escrowed-to-maturity (ETM) bonds
33. Essential purpose
34. Euroclear Bank
35. Eurodollar (ED) contract, expiration (example)
36. Eurodollar (ED) deposits
37. Euro-dollar (ED) futures
38. Eurodollar (ED) options
39. Euro Overnight Index Average (EONIA)
40. European Bank for Reconstruction and Development (EBRD)
41. European Banking Authority (EBA)
42. European call
43. European Central Bank (ECB)
44. European CLOs
45. European Contagion
46. European Economic Community, currency free float
47. European put, value derivation
48. European Securities and Markets Authority (ESMA)
49. European style exercise option
50. European-style options
51. European-style payoffs
52. European-style swaptions
53. European trade repository open OTC derivative positions
54. Europe, multilateral trading facilities (MTFs)
55. Evaluation reserves
56. Excess servicing spread
57. Excess spread
58. Exchange Act
59. Exchange-based trade, example
60. Exchange markets
61. Exchanges
62. Exchange-traded contracts
63. Exchange-traded derivatives (ETDs)
64. Exchange-traded funds (ETFs)
    1. arbitrage
65. Exchange-traded grantor trusts (ETGTs)
66. Exchange-traded notes
67. Exchange-traded securities
68. Execution
69. Expected exposure (EE), metrics/equations
70. Expected loss severity
71. Expected risk/gain
72. Expected shortfall (ES)
73. Export-Import Bank of the United States (Eximbank)
74. Exposure definitions/measurement
75. Extension risk
76. Extract, transform, load (ETL)

F

1. Factor
2. Factor-based ETFs
3. Fail
4. Fallen angels
5. Farm Credit Administration (FCA)
6. Farm Credit Debt Securities
7. Farm Credit System
8. Farm Credit System Associations
9. “Fed Effective” rate (Fed publication)
10. Federal agencies
11. Federal Agricultural Mortgage Corporation (FAMC) (Farmer Mac)
12. Federal Deposit Insurance Corporation (FDIC)
13. Federal Farm Credit Bank (FFCB)
14. Federal funds (fed funds)
15. Federal funds effective rate (FFER)
16. Federal Home Loan Bank (FHLB)
17. Federal Home Loan Mortgage Corporation (FHLMC) (Freddie Mac)
18. Federal Housing Administration (FHA)
19. Federal Housing Board (FHB)
20. Federal Housing Finance Agency (FHFA)
21. Federal National Mortgage Association (FNMA) (Fannie Mae)
    1. conservatorship
    2. reduction
    3. reference note programs
    4. retained portfolio, reduction
    5. securitization, future
22. Federal Open Markets Committee (FOMC)
23. Federal Reserve Board, weekly data
24. Federal Reserve System (Fed)
    1. zero-interest-rate policy
25. Federal Savings and Loan Insurance Corporation (FSLIC)
26. Financial corporations
27. Financial crisis (2008)
28. Financial crisis (2007/2008), impact
29. Financial crisis, stress events (impact)
30. Financial era definition, accuracy (impact)
31. Financial Industry Regulatory Authority (FINRA)
32. Financial institutions
33. Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA)
34. Financial intermediaries
35. Financial Services Authority (FSA)
36. Financial Stability Board (FSB)
37. Financial system, safety
38. Financing Corporation (FICO)
39. FinTech
40. Firm commitment
41. Firm-commitment underwriting
42. First loss piece
43. First perfected security interest
44. Fitch (rating agency)
45. Fixed/adjustable hybrids (hybrid ARMs)
46. Fixed income
47. Fixed Income Clearing Corporation (FICC)
48. Fixed-income ETFs
49. Fixed-income securities
50. Fixed-income trading
51. Fixed leg
52. Fixed-rate loans
53. Flat CDR
54. Flat yield
55. Flat Yield assumption
56. Float for fixed
57. Float for float
58. Floating net asset value
59. Floating-rate ETFs
60. Floating-rate notes (FRNs)
    1. total issuance percentage
    2. Treasury issuance
61. Floating-rate preferreds
62. Floorlets
63. Floor price
64. Floor reports
65. Floors
66. Foreign exchange (FX)
67. Foreign exchange (FX) market
68. Forward-3m rates
69. Forward-ATM initial sale
70. Forward cap/floor
71. Forward curves
72. Forward price (FP)
73. Forward purchase agreement
74. Forward rate agreements (FRAs)
75. Forward rates
76. Forwards
77. Forward sale, cash settlement
78. Forward sale, physical settlement
79. Forward swap
80. Forward transaction
81. Forward yield
82. Fractional Brownian motion models
83. Fraud risk
84. Free-floating exchange rates, rejection
85. Free markets, virtues
86. Full-service broker-dealer
87. Fundamental Review of the Trading Book (FRTB)
88. Funding Benefit Adjustment (FBA)
89. Funding Cost Adjustment (FCA)
90. Funding structure
91. Funding valuation adjustment (FVA)
92. Funding Value Adjustment (FVA)
93. Fund structures, types
94. Future exposure
95. Future/forward convexity adjustment
96. Futures
97. Futures ETFs
98. FX risk limit test

G

1. G4 10-year interest rates
2. G20, impact
3. Galbraith, John Kenneth
4. Gamma
5. Gang, Yi
6. General collateral (GC)
7. General collateral finance (GCF)
8. General loan-loss reserves
9. General obligation bonds (GOs)
10. Ginnie Mae I/II
11. Global capital markets
12. Global custodians
13. Global depository receipts (GDRs)
14. Global equity
15. Global financial asset choice set
16. Global financial crisis
17. Global Financial Crisis (2007/2008)
18. Global financial system
19. Gold exchange standard
20. Gold Participation Certificate (PC) program
21. Government agency securities
22. Government final consumption expenditure
23. Government gross capital formation
24. Government loans
25. Government National Mortgage Association (GNMA) (Ginnie Mae)
26. Governments
27. Government-sponsored enterprises (GSEs)
    1. debt, issuance
    2. overview
    3. securities
28. Government wire
29. Grand Convergence
30. Grantor trust
31. Great Depression
32. Great Moderation, impact
33. Great Recession
34. Great Society program
35. Great Transition
36. Great Transition Age
37. Greece
38. Greeks
39. Gross Basis
40. Gross settlement
41. Gross simultaneous settlement
42. Guaranteed investment contracts (GICs)
43. Guarantees

H

1. Haircuts
2. Headline spreads
3. Hedge funds
4. High-frequency trading (HFT)
5. High-quality liquid assets (HQLA)
6. High-yield bonds (junk bonds)
7. High-yield corporate bond ETFs
8. High-yield market, issuance growth
9. Historical data, drawback
10. Historical leveraged loan default
11. Historical loan repayment rate
12. Historical rate spread
13. Historical simulation framework
14. Holding period, selection
15. Homebuyer PTI ratio levels
16. Homerun investment
17. Home sales turnover
18. Hong Kong Monetary Authority (HKMA)
19. Household financial assets, investment company share
20. Housing and Economic Recovery Act of 2008
21. Housing GSEs
22. How-and-when-to-trade decisions
23. Hybrid ARMs

I

1. I bonds, Treasury Department sale
2. Immediate or cancel (IOC)
3. Impaired mortgages, presence
4. Implied Black normal Vols
5. Implied Repo Rate (IRR)
6. Income collection
7. Incurrence covenants
8. Indenture
9. Index arbitrage
10. Indexation
11. Index funds
12. Index methodologies
13. Index ratio (IR)
14. Individuals, returns generation
15. Industry structure scenarios
16. Inflation breakevens
17. Inflation-linked bonds
18. Information providers, support
19. Information technology (IT) architecture
20. Information technology (IT) infrastructure, impact
21. Infrastructure framework, strengthening
22. Infrastructure project development
23. Infrastructure providers, support
24. Initial deposit
25. Initial margin
26. Initial public offering (IPO)
27. Insolvency event
28. Institutional CDs
29. Institutional client
30. Institutional investor, internal interactions
31. Institutional loan outstanding amount
32. Insurers, premiums collection
33. Interactive Data Corporation (IDC)
34. Inter-American Development Bank
35. Intercontinental Exchange (ICE)
36. Inter-dealer brokers (IDBs)
37. Interest cash flow
38. Interest coverage test
39. Interest diversion test
40. Interest-only (IO) classes
41. Interest only (IO) loans
42. Interest only (IO) payments
43. Interest payments
44. Interest rate hedged ETFs
45. Interest rate options
46. Interest rates
    1. ceilings
    2. deterministic characteristic
    3. diversification
    4. limit test
    5. tools
47. Interest rate strategy ETFs
48. Interest rate swaps (IRSs)
49. Interest waterfall
50. Intergovernmental Panel on Climate Change (IPCC)
51. Intermediaries, role
52. Intermediate holding companies (IHCs), CCAR requirements
53. Internal metrics
54. Internal rate of return (IRR)
55. International Bank for Reconstruction and Development (IBRD)
56. International central securities depositories (ICSDs)
57. International equity
58. International fixed-income ETFs
59. International Monetary Fund (IMF)
60. International Money Market (IMM)
61. International multilateral organizations (MLOs)
62. International Swaps and Derivatives Association (ISDA)
63. Intex
64. In-the-money option
65. Inverse ETFs
66. Inverse leveraged ETFs
67. Investment banks, capital market functions
68. Investment companies
69. Investment Company Act of 1940
70. Investment fund ownership
71. Investment-grade bonds, impact
72. Investment-grade corporate bond ETFs
73. Investment grade liabilities
74. Investment guidelines
75. Investment leverage
76. Investment opportunities, breadth/depth
77. Investment vehicles
78. Investors
79. ISIS/ISIL, rise
80. Islamic Finance
81. Issuance notice
82. Issuance trust, usage
83. Issuance volumes
84. Issue date
85. Issuers
86. Issuing agencies

J

1. Japan, currency policies
2. Jumbo mortgages
3. Jump diffusion models
4. Junior AAA tranches

K

1. Kerviel, Jerome
2. Key risk indicators (KRIs)
3. Kroll Bond Rating Agency, CMBS metrics

L

1. Last delivery date, parallel shift (contrast)
2. Legal events
3. Legal final maturity date
4. Legs
5. Lehman Brothers, failure
6. Letter of credit, guarantee
7. Leveraged buyout (LBO)
8. Leveraged ETFs
9. Leveraged loans
10. Leverage, ratio
11. Li, David
12. Limited resources, strategy/management (linkage)
13. Limit frameworks
14. Liquidity
15. Liquidity coverage ratio (LCR)
16. Liquidity risk
17. Listing
18. Loan securitizations
19. Loan-to-collateral value ratio, maintenance
20. Loan-to-deposit ratio
21. Loan-to-value (LTV)
22. Local custodians
23. Local settlements, securities safekeeping chains
24. Lockup provision
25. Log-linear constant forwards
26. Log-normal distribution
27. Log-normal dynamics
28. Lognormal method
29. London Inter-Bank Offer Rate (LIBOR)
    1. curve
    2. Fix scandal
    3. spread
30. London Stock Exchange (LSE)
31. Long exposure, creation
32. Long-term capital
33. Long Term Capital Management, failure/bailout
34. Loss absorption mechanism
35. Loss allocation
36. Loss exposure, existence
37. Loss Given Default (LGD)
38. Loss-given-default (LGD)
39. Loss severity rate
40. Lottery tickets

M

1. Maintenance guarantee
2. Maker-taker fee model
3. Make-whole call (MWC)
4. Managed futures funds, types
5. Margin
6. Marginal tax rate (MTR)
7. Margin valuation adjustment (MVA)
8. Market infrastructure (MI)
9. Marketing period
10. Market maker
11. Market making
12. Market-neutral environment, SIV operation
13. Market risk
14. Market Risk Amendment
15. Markets
    1. capitalization
    2. data/analytics
    3. discipline, facilitation
    4. environment scenarios
    5. rates, quoting (example)
    6. share, sacrifice (impact)
    7. transparency, insufficiency
    8. types
    9. valuations, manipulation
16. Markets in Financial Instruments Directive (MiFID)
17. Market structure
18. Market Wizards (Schwager)
19. Markit CMBX Indices
20. Mark-to-market (MTM)
21. Master agreements
22. Master limited partnerships (MLPs)
23. Master owner trust (MOT) structure
24. Master purchase agreements
25. Master repurchase agreements (MRAs)
26. Master servicer
27. Master trust/owner trust/de-linked structure
28. Master trusts
29. Matched-maturity spread
30. Matched-maturity swap spread
31. Matching
32. Material and adverse clause
33. Material and adverse qualifier
34. Materiality
35. Matros, Rick
36. Maturity date
37. Maturity profile, measures
38. Maximum annual debt service (MADS)
39. Maximum PFE/peak PFE, metrics/equations
40. May Day
41. Medium-term notes (MTNs)
42. Member fees
43. Mergers and acquisitions (M&As)
44. Metals, commodities
45. Metrics, equations
46. Mezzanine AAA tranches
47. Mezzanine classes
48. Mezzanine notes
49. Mezzanine triple-A Class
50. Middle-market CLOs
51. Mid-prime credit quality
52. MiFID II
53. Mini-maxi structure, usage
54. Mining funds
55. Mixture models
56. Model risk
57. Modified duration, example
58. Modular financial services
59. Money
60. Money market funds (MMFs)
61. Money markets
62. Montage
63. Monte Carlo simulation
64. Moody's
65. Mortgage Backed Securities Clearing Corporation (MBSCC) process
66. Mortgage-backed securities ETFs
67. Mortgage-backed security (MBS)
    1. collateral
    2. OAS analysis, relationship
    3. pools, analysis
68. Mortgage bonds
69. Mortgagee
70. Mortgage loan purchase agreements (MLPAs)
71. Mortgage loan schedule (MLS)
72. Mortgage quality types
73. Mortgages
74. Mortgagor
75. Multi-agented programs, problems
76. Multi-dealer platforms (MDPs)
77. Multilateral netting, impact
78. Multilateral organizations (MLOs)
79. Multilateral trading facilities (MTFs)
80. Multi-seller ABCP conduits
81. Multi-seller ABCP programs
82. Municipal bonds
83. Municipal notes
84. Municipal Securities Rulemaking Board (MSRB)
85. Mutual funds

N

1. NAREIT
2. NASDAQ
3. National Association of Securities Dealers (NASD)
4. National best bid and offer (NBBO)
5. National Futures Association (NFA)
6. National global financial asset returns
7. Nationally recognized statistical rating organizations (NRSROs)
8. National Market System (NMS)
9. National Security Clearing Corporation (NSCC)
10. Natural order flow
11. Negative carry
12. Negative convexity
13. Negative duration-based ETFs
14. Negotiated sale
15. Net asset value (NAV)
    1. floating NAV vehicles
16. Net obligations, calculation
17. Net operating income (NOI)
18. Net outstanding portfolio collateral balance
19. Net revenue (NR)
20. Net settlement
21. Net simultaneous settlement
22. Net stable funding ratio (NSFR)
23. Netting provisions, right
24. Neutral duration-based ETFs
25. “New Conservative Financial Consensus,” application
26. New issue securities, window programs
27. New York Stock Exchange (NYSE)
28. Next-Generation Global Financial System
29. 1933 Act ETFs
30. Nixon, Richard M.
31. Non-agency RMBSs
32. Non-bank market makers, proliferation
33. Non-callable bonds
34. Non-callable T-bills
35. Non-call period
36. Non-call provisions
37. Non-capital expenditure (government final consumption expenditure)
38. Nonconforming loans
39. Non-consolidation opinion
40. Noncumulative preferred stock
41. Non-financial corporate borrowers
42. Non-financial institutions
43. Non-housing GSEs, overview
44. Non-mortgage asset-backed securities
45. Non-seasonally adjusted consumer price index (NSA CPI).
46. Normal distribution
47. Normative curve
48. Notary services
49. Notes, issuance
50. Notification period
51. Notional
52. Novation
53. Nuclear option

O

1. Obligations
2. Obligors
3. Odd lots
4. Offering circulars (OCs)
5. Offering memoranda (OMs)
6. Office of Federal Housing Enterprise Oversight (OFHEO)
7. Office of the Comptroller of the Currency (OCC)
8. Offset provisions, right
9. Off-the-run issues
10. OMX
11. One-step binomial model
12. On-the-run (OTR) bonds
13. Open-ended funds
14. Open-end ETFs, shares outstanding
15. Opening auction, on open/on close
16. Open interest
17. Open-market operations
18. Open Markets Trading Desk (Federal Reserve Bank of New York)
19. Operational data stores
20. Operational processes
21. Operational risk
22. Operations, cost (increase)
23. Option-adjusted spread (OAS)
24. Options
25. Order book
26. Order-driven markets, mechanics
27. Order handling rules, impact
28. Order processing system providers
29. Order types
30. Ordinary shares
31. Organized trading facilities (OTFs)
32. Originator MLPAs
33. Out-of-the-money option
34. Out-right trades
35. Overcollateralization (O/C)
    1. ratio
    2. statement
    3. test
36. Overnight bought deals
37. Overnight indexed swaps (OISs)
38. Overnight repos
39. Overnight reverse repurchase agreement (ON RRP) facility, usage
40. Overseas Private Investment Corporation (OPIC)
41. Over-the-counter (OTC)
    1. markets
42. Over-the-counter derivatives (OTCD)
43. Owner trust

P

1. Panic of 1907, The (Bruner/Carr)
2. Parallel PV01
3. Par compression risk
4. Par coverage test
5. Par credit
6. Par-par asset swap
7. Par swap
8. Partial call bonds
9. Partial Libor PV01
10. Partial PV01
11. Passive funds, usage
12. Passive investment ETFs
13. Pass-through MBSs, metrics
14. Pass-throughs, combined pools
15. Pass-through security
16. Pass-through vintages
17. Payer swaption
18. Paying in a swap
19. Paying in spreads
20. Pay-in-kind (PIK)
21. Payment in kind (PIK)
22. Payment-to-income (PTI) ratio levels
23. Penny options
24. Pension funds, retirement savings aggregation
25. People's Bank of China (PBoC)
26. Percentage/proportional terms
27. Percentile threshold, expected shortfall (contrast)
28. Performance metrics
29. Perpetual preferred stock
30. Personal consumption expenditure (PCE)
31. Phantom income, taxation
32. Physically backed ETFs
33. Piece-wise constant forwards
34. Placement agent
35. Plain-vanilla fixed-for-floating swaps
36. Pool factor
37. Pooling and servicing agreement (PSA)
38. Portfolio
    1. manager
    2. strategy (charting), financial era definition accuracy (impact)
39. Portfolio composition file (PCF)
40. Portugal, Italy, Ireland, Greece, and Spain (PIGS)
41. Position trader
42. Position trading
43. Positive carry
44. Post-crisis rules/approaches
45. Post-Great Recession, global capital markets chart
46. Potential future exposure (PFE)
47. Preferred shares
48. Preferred stock
49. Preferred stockholders
50. Prepayments
51. Preprocessing layer
52. Pre-refunded/escrowed bonds
53. Presentation layer
54. Present value (PV), equations
55. Present value of a basis point (PVBP)
56. Pre-settlement risk management
57. Pre-tax earnings
58. Price carry
59. Price differential
60. Price transparency
61. Price volatility
62. Price weighted indices
63. Price-yield formula
64. Price-yield graph, example
65. Pricing date
66. Pricing supplement
67. Primary dealers
68. Primary first-lien loan issuance, percentage
69. Primary markets
70. Prime credit quality
71. Prime mortgages
72. Principal
73. Principal cash flows
74. Principal intermediary, role
75. Principal-to-principal contracts
76. Principal waterfall
77. Private equity (PE)
78. Private Export Funding Corporation (PEFCO)
79. Private foundations, funds usage
80. Private-label RMBS, secondary trading
81. Private placements
82. Probability
83. Probability of Default (PD)
84. Process architecture
85. Program trading
86. Project Restart (ASF)
87. Property
88. Proportional change
89. Proprietary trading
90. Prospectus supplement, filing
91. Prudential Regulation Authority (PRA)
92. Publicly held shares, market value
93. Public Securities Association (PSA) model/convention
94. Puerto Rico
95. Pull-to-par dynamic
96. Purchase price
97. Putable bonds
98. Put-call parity
99. Put feature
100. PV01

Q

1. Qualified institutional buyers (QIBs)
2. Qualified investor
3. Quality option
4. Quasi-sovereign multilateral organizations
5. Quote-driven markets

R

1. Ramp-up period
2. Rates, trading
3. Rating agencies
4. Rating Agency Act
5. Rating-based triggers
6. Ratings agencies
7. Real estate investment trusts (REITs)
8. Real estate mortgage investment conduit (REMIC)
9. Real global financial asset returns
10. Realized Vol, Implied Vol (contrast)
11. Real-time gross settlement (RTGS)
12. Real yields
13. Receivables allocation
14. Receiving in a spread
15. Receiving in a swap
16. Recovery lag assumptions
17. Recovery rates
18. REDI
19. Refinancing
20. Regional custodians
21. Regression-weighted butterfly
22. Regulated investment companies (RICs)
23. Regulation M
24. Regulation NMS
25. Regulations
26. Regulatory framework, strengthening
27. Regulatory landscape, overview
28. Regulatory reforms, cumulative weight
29. Rehypothecation
30. Reinvestment rates
31. Reinvestment risk
32. Remarketing agent, impact
33. Reminiscences of a Stock Operator
34. Replicating portfolio
35. Reporting layer
36. Representations
37. Repurchase agreements (repo)
    1. additive approach
    2. bond carry
    3. Federal Reserve, relationship
    4. financing
    5. rates
    6. subtractive approach
    7. transactions, risks
    8. tri-party repos
38. Repurchase date
39. Request for quote (RFQ) functionality
40. Resale cash flow
41. Research analyst
42. Research sales
43. Research salesperson
44. Reserve Accounts
45. Reserve accounts
46. Reserve Primary Fund
47. Reserves
48. Residential mortgage-backed securities (RMBSs)
    1. fraud risk
    2. market
49. Residual cash flow
50. Residual interest
51. Resolution Funding Corporation (REFCO)
52. Resolution Trust Corporation (RTC)
53. Restricted funding mode
54. Retail CDs
55. Revenue
56. Revenue anticipation notes (RANs)
57. Revenue bonds
58. Revenue-earning capacity, reduction
59. Reverse repo
60. Reverse repurchase agreement (RRP) facility
61. Reverse-sequential order
62. Right-to-pay (RTP) swaption
63. Right-way risk
64. Rising stars
65. Risk
    1. allocation
    2. appetite
    3. aversion
    4. factors
    5. information technology (IT) architecture
    6. measurement
    7. risk-adjusted yields (returns)
    8. shift
    9. takers
66. Risk-adjusted framework, shift
67. Risk aggregation layer
68. Risk-based capital
69. Risk capital ratios
70. Risk data
71. Risk-free sovereign
72. Riskless principal
73. Risk management
74. Risk-neutrality
75. Risk-neutral probabilities
76. Risk-neutral valuation
77. Risk retention requirements
78. Risk-reversals
79. Risk-weighted asset (RWA)
80. RNIVs
81. Roadshow
82. Roll-down effect
83. Roosevelt, Franklin D.
84. Rule 2a-7
85. Rule 17g-1(i)
86. Rule 144A
87. Rule 415
88. Rural Housing Administration (RHA)

S

1. SABR
2. Safekeeping
3. Sales Agency Agreement
4. Sales trader
5. Sales trading
6. Schwager, Jack
7. Scratch-and-dent mortgages
8. Secondary markets
9. Secondary offering
10. Section 15E(a)(3)
11. Sector-based ETFs
12. Secured (collateralized) bondholders
13. Secured bonds
14. Securities
    1. broker-dealers
    2. financing
    3. gross settlement
    4. opacity/complexity
    5. post-trade process
    6. safekeeping
    7. trustee
15. Securities Act of 1933
16. Securities and Exchange Commission (SEC)
    1. Rule 2a-7
    2. Rule 144A
    3. Rule 415
    4. underwriter requirements
17. Securities Industry and Financial Markets Association (SIFMA), Master Repurchase Agreement
18. Securities Information Processor (SIP)
19. Securities market infrastructure
    1. providers, activity overview
20. Securities Offering Reform of 2005
21. Securities trade
22. Securitization
23. Self-financing
24. Self-regulatory organization (SRO)
25. Seller/servicer events
26. Selling agent
27. Selling and servicing agreement (SSA)
28. Selling concession
29. Selling period
30. Sell order, execution
31. Sell-side
32. Sell-side broker-dealer
33. Sell-side industry ROE, outlook
34. Semi-annual coupon bond
35. Senior AAA tranches
36. Senior Preferred Stock Purchase Agreement (SPSPA)
37. Senior-secured first-lien loans
38. Senior tranches, WAL reduction
39. Sensitivity measures
40. Servicer
41. Settlement
42. Settlement banks, impact
43. Shadow banking sector
44. Shares
45. Short exposure, creation
46. Short History of Financial Euphoria, A (Galbraith)
47. Short-term capital
48. Short-term repo transactions, maturation
49. SIFMA data
50. Single-curve world
51. Single-dealer platforms (SDPs)
52. Single-factor scenarios
53. Single monthly mortality (SMM), measurement method
54. Sinking funds
55. SIX SIX
56. Skews
57. SLM Corporation
58. Small- and medium enterprise (SME) CLO
59. Small-to-medium enterprises, struggle
60. Smart-beta ETFs
61. Smart order router (SOR)
62. Smart order routing
63. Smiles
64. Sovereign Credit Crisis
65. Sovereign debt crisis
66. Sovereigns, capital market usage
67. Sovereign wealth funds (SWFs)
68. Soybean futures contract, contract terms
69. SPDR 500 (SPY)
70. Special-purpose corporations (SPCs), ABCP program creation
71. Special-purpose entity (SPE)
72. Special-purpose vehicle (SPV)
    1. bankruptcy-remote SPV
73. Special servicer
74. Specific wrong-way risk
75. Specified pools (collateral)
76. Sponsor
77. Spot rate
78. Spot trade
79. Spot transaction
80. Spread
81. Spread of spreads
82. Spread-PV01
83. Standalone trust structure
84. Standard & Poor's 500 (S&P500) stock index
85. Standard & Poor's Goldman Sachs Commodity Index (S&P GSCI)
86. Standard & Poor's, short-term rating system
87. State Administration for Foreign Exchange (SAFE)
88. Stated maturity date
89. Static CDO
90. Static deals
91. Statistical arbitrage
92. Step-up bonds
93. Sterling Overnight Index Average (SONIA)
94. Stochastic volatility models
95. Stockholders, equity
96. Stockholders, equity interest
97. Stock index futures
98. Stocks
99. Storage layer
100. Stressed Value at Risk (SVar), calculation (model methodology development)
101. Stress events, impact
102. Stress testing, process (example)
103. STRIPS
104. Structured finance
105. Structured investment vehicles (SIVs)
106. Structured Trading Activity Report, summary displays
107. Structuring agent
108. Student Loan Marketing Association (Sallie Mae)
109. Sub-custodians
110. Subordinated classes
111. Subordinated debt holders
112. Subordinate notes
113. Subordination
114. Subprime credit quality
115. Subprime mortgages
116. Subprime RMBSs, liquidity crisis (impact)
117. Subtractive approach
118. Super-senior Aaa/AAA classes
119. Super senior AAA tranches
120. Super-senior Class A-1 tranche
121. Supervision, strength
122. Supplementary leverage ratio (SLR)
123. Supply/demand
124. Surveillance agent (SA)
125. Swap data repositories (SSDRs)
126. Swap execution facilities (SEFs)
127. Swap/Libor curve, construction
128. Swaps
129. Swaptions
130. Swiss finish
131. Synthetic call option
132. Synthetic leverage
133. Systematically important financials institutions (SIFIs)
134. Systems Compliance and Integrity Rule (Regulation SCI)

T

1. Tail risk
2. TAPS programs
3. Targeted multifactor scenarios
4. Target price
5. Taxable equivalent yield (TEY)
6. Taxable MMF portfolio composition
7. Tax and revenue anticipation notes (TRANs)
8. Tax anticipation notes (TANs)
9. Tax-exempt bonds, taxables (contrast)
10. Tax-free yield (TFY)
11. Tax liens
12. Tax treatment
13. Technology capabilities, support
14. Teeny
15. Tennessee Valley Authority (TVA)
16. Term Asset-Backed Securities Loan Facility (TALF)
17. Term repos
18. Thematic-based ETFs
19. Theta, gamma (contrast)
20. Third Plenum, policy shift
21. Three-lines-of-defense model
22. Tickertape
23. Tier 1 capital
24. Tier 1 programs
25. Tier 2 capital
26. To be announced (TBA)
27. Tokyo Overnight Average Rate (TONAR)
28. Top-down approach
29. Total assets
30. Total Bond ETF
31. Total rate of return (TRR), maximization
32. Total real return indexers
33. Tradeability
34. Trade date plus zero (T+0)
35. Traded volumes
36. Trade flow (example), CCP (impact)
37. Trade processing system providers
38. Trader
39. Trade Reporting and Compliance Engine (TRACE)
40. Trade repositories
41. Trades
42. Trading activity
43. Trading fees
44. Trading floors, maintenance
45. Trading venue consolidation
46. Tranches
47. Transaction-specific factors
48. Transfer statements
49. Transitions
50. Transparency
51. Treasury auctions
52. Treasury Automated Auction Processing System (TAAPS), usage
53. Treasury Borrowing Advisory Committee (TBAC)
54. Treasury-ED (TED) spread
55. Treasury Inflation Protected Securities (TIPS)
56. Treasury securities. See U.S. Treasury securities
57. Treasury STRIPS
58. Tri-party flows
59. Tri-party markets
60. Tri-party repos
61. Triple-A credit enhancement
62. True sale
63. Trustee
64. 2a-7 funds

U

1. UCITS regulation (Europe)
2. Uncollateralized obligations
3. Unconstrained bond ETFs
4. Underlying collateral
5. Underlying loans, types
6. Underwriter
7. Underwriting
8. Uniform Standards of Professional Appraisal Practice (USPAP)
9. Unique product identifiers (UPIs)
10. Unique transaction identifiers (UTIs)
11. United States
    1. alternative trading systems
    2. fixed-income trading/issuance volumes
    3. Savings and Loan (S&L) crisis
    4. swap execution facilities (SEFs)
12. Unit investment trusts (UITs)
13. Unsecured bondholders
14. Unsecured bonds
15. Urban Development Act (1965)
16. U.S. ABS issuance
17. U.S. ABS outstanding
18. U.S. Bankruptcy Code
19. U.S. broadly syndicated loan CLOs, annual issuance
20. U.S. CMBS issuance
21. U.S. Dollar (USD) EM debt, growth
22. U.S. Dollar (USD) SEF/broker screen
23. U.S. Dollar (USD) swap, simplified cash-flows
24. U.S. Dollar (USD) swaptions
25. U.S. government bond ETFs
26. U.S. Housing and Urban Development (HUD)
27. U.S. Treasury (UST)
    1. bills (T-bills)
    2. bonds
    3. CT2, example
    4. futures
    5. yield curve

V

1. Validation
2. Value at Risk (VaR) (Value-at-Risk)
3. Variable net asset value
4. Variable-rate bonds
5. Variable rate demand notes (VRDNs)
6. Variation margin
7. Vega
8. Venture capital (VC) funds
9. Veterans Administration (VA)
10. Volatility cubes
11. Volatility surface, maintaining/populating
12. Volcker Rule
13. Volume-weighted average price (VWAP)
14. Vulture investors

W

1. Warehouse agreements
2. Warehouse provider
3. Warranties
4. Waterfalls
5. Weighted average coupon (WAC)
6. Weighted average life (WAL)
7. Weighted average maturity (WAM)
8. Weighted average rating factor (WARF)
9. Weighted average spread (WAS)
10. Well-known, seasoned issuer (WKSI)
11. When-Issued (WI) note
12. Window programs
13. Withdrawal
14. World Bank, borrowing requirements
15. World economic growth (promotion), global financial system (impact)
16. World Federal of Exchanges (WFE), stock exchanges
17. World investment structure
18. World Market/Reuters (WM/R)
19. Wrong-way risk

X

1. XTX Markets, ranking
2. XVA

Y

1. Yield
2. Yield carry
3. Yield curve
4. Yield Supplement Account
5. Yield to maturity (YTM)
6. Yield-yield swap spread

Z

1. Zero-cost call/receiver
2. Zero-coupon swap spreads
3. Zero rate