Business / Finance Glossary

Bogey: The return an investment manager is compared to for performance evaluation.

Boiler Room: Used to describe place or operation in which unscrupulous salespeople call and try to sell people speculative, even fraudulent, securities.

Boilerplate: Standard terms and conditions.

Bolsa: Spanish for stock exchange.

Bolsa De Commercio De Santiago (SSE): Chile's preeminent stock exchange.

Bolsa De Valores De Rio De Janeiro (BVRJ): Brazil's second-largest stock exchange.

Bolsa De Valores De Sao Paulo (BOVESPA): The largest stock exchange in Brazil.

Bolt: Used for listed equity securities. Block trading version of COLT.

Bond: Bonds are debt and are issued for a period of more than one year. The U.S. government, local governments, water districts, companies and many other types of institutions sell bonds. When an . . . View Full Definition

Bond Agreement: A contract for privately placed debt.

Bond Anticipation Note (BAN): A short-term debt instrument issued by a state or municipality to borrow against the proceeds of an upcoming bond issue.

Bond Broker: A broker on the floor of an exchange who trades bonds.

Bond Buyer: A daily publication featuring many essential statistics and index figures relevant to the fixed income markets.

Bond Buyers Municipal Bond Index: A municipal bond price tracking index published daily by the Bond Buyer.

Bond Counsel: An attorney who prepares the legal opinion concerning a municipal bond issue.

Bond Covenant: A contractual provision in a bond indenture. A positive covenant requires certain actions, and a negative covenant limits certain actions.

Bond Crowd: Members of the stock exchange who transact bond orders on the floor of the exchange.

Bond Discount: The difference by which a bond's market price is lower than its face value. The antithesis of a bond premium, which prevails when the market price of a bond is higher than its face value. Se . . . View Full Definition

Bond Equivalent Yield: Bond yield calculated on an annual percentage rate method. Differs from annual effective yield.

Bond Indenture: Contract that sets forth the promises of a corporate bond issuer and the rights of investors.

Bond Indexing: Designing a bond portfolio so that its performance will match the performance of some bond index.

Bond Market Association: An international trade association of broker/dealers and banks in U.S. government and federal agency securities, municipal securities, mortgage-backed securities, and money market securities.

Bond Mutual Fund: A mutual fund holding bonds.

Bond Points: A conventional unit of measure for bond prices set at $1 and equivalent to 1% of the $100 face value of the bond. A price of 80 means that the bond is selling at 80% of its face or par value.

Bond Power: A form used in the transfer of registered bonds from one owner to a different owner.

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