Expand all Yield The annual income provided by an investment, usually expressed as a percentage of its cost or of its current value.

An international economic body, founded together with the International Monetary Fund (IMF), whose function is to extend loans on a global scale, but most particularly to developing countries.

A bond with an attached warrant giving the holder the right to buy shares in the company or a subsidiary for a set price at a set time in the future.

A security that gives the holder the right, but not the obligation, to buy an underlying security (often the shares or bonds of the issuing company) at a certain price within a certain time. Warrants are often included in new issues of shares and bonds as means of attracting investors.

Expand all Under par, below par Below the face value. A security that is trading under par can be bought for less than its face value.

In economic theory, the worth of a good in terms of its ability to satisfy wants.

Measure of the worth of a good that meets human needs, as distinct from “use value” and “exchange value”.

A bill of exchange used to defer payments between buyers and sellers, or between businesses and their suppliers and customers.

The office in which a bank’s traders operate on financial markets.

Own shares held by companies in order to ward off hostile buyers (“sharks”) or influence the price of their shares on the stock exchange.