Business / Finance Glossary

Joint Clearing Members: Firms that clear on more than one exchange.

Joint Stock Company: A form of business organization that falls between a corporation and a partnership. The company sells stock, and its shareholders are free to sell their stock, but shareholders are liable fo . . . View Full Definition

Joint Tax Return: Tax return filed by two people, usually spouses.

Joint Tenants With Right Of Survivorship: In the case of a joint account, on the death of one account holder, ownership of the account assets is transferred to the remaining account holder or holders.

Joint Venture: An agreement between two or more firms to undertake the same business strategy and plan of action.

Jointly And Severally: Municipal bond underwriting in which the account is undivided and syndicate members are responsible for unsold bonds in proportion to their participation, regardless of how many bonds they m . . . View Full Definition

Jonestown Defense: An extreme defensive tactic employed by the management of a target corporation to prevent a hostile takeover. The defensive tactics are so extreme that they typically lead to the destruction . . . View Full Definition

Jumbo Certificate Of Deposit: A certificate of deposit in increments of $100,000.

Jumbo Loan: Loans of $1 billion or more. Or, loans that exceed the statutory size limit eligible for purchase or securitization by the federal agencies.

Jump Ball: Used in the context of general equities. (1) Deal in which no trading house has exclusivity (each firm is in direct competition for a piece of business); (2) no preference in picking a parti . . . View Full Definition

Junior Debt (Subordinate Debt): Debt whose holders have a claim on the firm's assets only after senior debtholder's claims have been satisfied. Subordinated debt.

Junior Issue: A debt or equity issue from one corporation over which the issue of another firm takes precedence with respect to dividends, interest, principal, or security in the event of liquidation.

Junior Mortgage: A mortgage that will be satisfied only after more senior mortgages have been satisfied. e.g., a first mortgage will be satisfied prior to a second or a third mortgage.

Junior Refunding: Issuing of new securities to refinance government debt that matures in one to five years.

Junior Security: A security that has a lower-priority claim on a company's assets and income than a senior security. For example common stock is junior to preferred stock.

Junk Bond: A bond with a speculative credit rating of BB (S&P) or Ba (Moody's) or lower. Junk or high-yield bonds offer investors higher yields than bonds of financially sound companies. Two agencies, . . . View Full Definition

Jury Of Executive Opinion: A method of forecasting using a composite forecast prepared by a number of individual experts. The experts form their own opinions initially from the data given, and revise their opinions ac . . . View Full Definition

Just Me Asking: Used in the context of general equities. 'Not a customer request for information.'

Just-In-Time Inventory Systems: Systems that schedule materials to arrive exactly when they are needed in the production process.

Justified Price: The fair market price of an asset.

K: Fifth letter of a Nasdaq stock symbol specifying the issue has no voting rights.

Kaffirs: South African gold mining shares that trade on the London Stock Exchange.

Kangaroos: Australian stocks.

Kansas City Board Of Trade (KCBT): The U.S.-based futures and options exchange for no. 2 red wheat futures and, options, Value Line Index futures and Mini Value Line futures and options.

Kappa: The ratio of the dollar price change in the price of an option to a 1% change in the expected volatility.

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226