Business / Finance Glossary

Borrower Fallout: In the mortgage pipeline, the risk that prospective borrowers of loans committed to be closed will elect to withdraw from the contract.

Boston Exchange Automated Communication Order-Routing Network (BEACON): This system permits the automatic execution of trades based on the current stock prices on the consolidated markets at any of the U.S. securities exchanges.

Bot: Shorthand for bought. Antithesis of SL, meaning sold.

Bottom: Refers to the base support level for market prices of any type. Also used in the context of securities to refer to the lowest market price of a security during a specific time-frame.

Bottom Fisher: An investor seeking stocks that have fallen to prices at or near their bottom, which he or she believes will trend up in the future.

Bottom-Up Equity Management Style: A management style that de-emphasizes the significance of economic and market cycles, focusing instead on the analysis of individual stocks.

Bought Deal: Security issue in which one or two underwriters buy the entire issue.

Bounce: A check returned by a bank because it is not payable, usually because of insufficient funds. Also used in the context of securities to refer to the rejection and ensuing reclamation of a sec . . . View Full Definition

Bourse: French for a stock market.

Boutique: A small, specialized brokerage firm that offers limited services and products to a limited number of clients. Antithesis of financial supermarket.

Box: The actual physical location at a brokerage house or bank where securities or other documents are stored for safekeeping. Alternatively, a quotation machine or battery march.

Bracket: A term signifying the extent of an underwriter's commitment in a new issue, e.g., major bracket or minor bracket.

Bracket Creep: The gradual movement into higher tax brackets when incomes increase as a result of inflation.

Brady Bonds: Bonds issued by emerging countries under a debt reduction plan.

Branch: An operation in a foreign country incorporated in the home country.

Breadth Of The Market: In the context of general equities, percentage of stocks participating in a particular market move. Technical analysts say there was significant breadth if two-thirds of the stocks listed on . . . View Full Definition

Break: A rapid and sharp price decline. Related: Crash.

Break Price: Used in the context of general equities. Change one's offering or bid prices to move to a more realistic, tight level where execution is more feasible. Often done to trim one's position, thu . . . View Full Definition

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