|over-the-counter(otc) weather derivatives and catastrophe derivatives |
Borsada ticareti yapılmayan ve yatırımcı tarafından, çıkarıldığında, değer olarak hisse başına menku
kıymet ihraç değeri eksi menkul kıymet nominal değeri menkul kıymet ödenen ve blirlenmiş, örneğin; deprem gibi olay zararı gibi olayda, faiz ve/veya ana para ödemesinin geciktirilmesi veya kaybedilmesi sonucunu doğuran yüksek verimli, sigortalı finansal araç
Over-the-Counter => Borsada ticareti yapılmayan menkul kıymet.
weather derivative => yatırımcı tarafından, çıkarıldığında hisse başına ödenen, menkul kıymet ihraç değeri eksi menkul kıymet nominal değeri.
par value => menkul kıymet nominal değeri.
catastrophe derivatives => Belirlenmiş, örneğin; deprem gibi olay zararı gibi olayda, faiz ve/veya ana para ödemesinin geciktirilmesi veya kaybedilmesi sonucunu doğuran yüksek verimli, sigortalı finansal araç.
derivative => finansal enstrüman.
underlier => menkul kıymet veya ticari mal
OTC. A security which is not traded on an exchange, usually due to an inability to meet listing requirements. For such securities, broker/dealers negotiate directly with one another over computer networks and by phone, and their activities are monitored by the NASD. OTC stocks are usually very risky since they are the stocks that are not considered large or stable enough to trade on a major exchange. They also tend to trade infrequently, making the bid-ask spread larger. Also, research about these stocks is more difficult to obtain. also called unlisted.
Definition B: The computer and phone system through which over the counter (as well as listed) securities are traded.
2) weather derivative:
The price paid by investors per share at issue minus the par value per share, times the number of shares issued. Paid-in surplus is recorded in the balance sheet under the shareholders' equity section. also called additional paid-in capital.
3) catastrophe bond:
A high-yield, insurance-backed bond containing a provision causing interest and/or principal payments to be delayed or lost in the event of loss due to a specified catastrophe, such as an earthquake.
A financial instrument whose characteristics and value depend upon the characteristics and value of an underlier, typically a commodity, bond, equity or currency. Examples of derivatives include futures and options. Advanced investors sometimes purchase or sell derivatives to manage the risk associated with the underlying security, to protect against fluctuations in value, or to profit from periods of inactivity or decline. These techniques can be quite complicated and quite risky.
5) par value:
The nominal dollar amount assigned to a security by the issuer. For an equity security, par value is usually a very small amount that bears no relationship to its market price, except for preferred stock, in which case par value is used to calculate dividend payments. For a debt security, par value is the amount repaid to the investor when the bond matures (usually, corporate bonds have a par value of $1000, municipal bonds $5000, and federal bonds $10,000). In the secondary market, a bond's price fluctuates with interest rates. If interest rates are higher than the coupon rate on a bond, the bond will be sold below par value (at a "discount"). If interest rates have fallen, the price will be sold above par value. also called face value or par.
A security or commodity which is subject to delivery upon exercise of an option contract or convertible security. Exceptions include index options and futures, which cannot be delivered and are therefore settled in cash.
The right, but not the obligation, to buy (for a call option) or sell (for a put option) a specific amount of a given stock, commodity, currency, index, or debt, at a specified price (the strike price) during a specified period of time. For stock options, the amount is usually 100 shares. Each option has a buyer, called the holder, and a seller, known as the writer. If the option contract is exercised, the writer is responsible for fulfilling the terms of the contract by delivering the shares to the appropriate party. In the case of a security that cannot be delivered such as an index, the contract is settled in cash. For the holder, the potential loss is limited to the price paid to acquire the option. When an option is not exercised, it expires. No shares change hands and the money spent to purchase the option is lost. For the buyer, the upside is unlimited. Options, like stocks, are therefore said to have an asymmetrical payoff pattern. For the writer, the potential loss is unlimited unless the contract is covered, meaning that the writer already owns the security underlying the option. Options are most frequently as either leverage or protection. As leverage, options allow the holder to control equity in a limited capacity for a fraction of what the shares would cost. The difference can be invested elsewhere until the option is exercised. As protection, options can guard against price fluctuations in the near term because they provide the right acquire the underlying stock at a fixed price for a limited time. risk is limited to the option premium (except when writing options for a security that is not already owned). However, the costs of trading options (including both commissions and the bid/ask spread) is higher on a percentage basis than trading the underlying stock. In addition, options are very complex and require a great deal of observation and maintenance. also called option contract.
8) convertible security:
Bond, preferred stock, or debenture that is exchangeable at the option of the holder for common stock of the issuing corporation.
A statistical indicator providing a representation of the value of the securities which constitute it. Indices often serve as barometers for a given market or industry and benchmarks against which financial or economic performance is measured.
A standardized, transferable, exchange-traded contract that requires delivery of a commodity, bond, currency, or stock index, at a specified price, on a specified future date. Unlike options, futures convey an obligation to buy. The risk to the holder is unlimited, and because the payoff pattern is symmetrical, the risk to the seller is unlimited as well. Dollars lost and gained by each party on a futures contract are equal and opposite. In other words, futures trading is a zero-sum game. Futures contracts are forward contracts, meaning they represent a pledge to make a certain transaction at a future date. The exchange of assets occurs on the date specified in the contract. Futures are distinguished from generic forward contracts in that they contain standardized terms, trade on a formal exchange, are regulated by overseeing agencies, and are guaranteed by clearinghouses. Also, in order to insure that payment will occur, futures have a margin requirement that must be settled daily. Finally, by making an offsetting trade, taking delivery of goods, or arranging for an exchange of goods, futures contracts can be closed. Hedgers often trade futures for the purpose of keeping price risk in check. also called futures contract.
Kaynak: Investor Word
9) Catastrophe derivates:
A high-yield, insurance-backed financial instrument containing a provision causing interest and/or principal payments to be delayed or lost in the event of loss due to a specified catastrophe, such as an earthquake.
Kaynak: Investor Word'DAN YORUMLA TÜRETİLMİŞTİR.