Business / Finance Glossary

Combined Financial Statement: A strategy in which a put and call with the same strike price and expiration are either both bought or both sold. Related: Straddle

Come In: A financial statement that merges the assets, liabilities, net worth, and operating figures of two or more affiliated companies. A combined statement is distinguished from a consolidated fin . . . View Full Definition

Come Out Of The Trade: In the context of general equities, a fall in price.

Comeout: In the context of general equities, trader's position in a security that results from executing a trade (or the expectations thereof). Antithesis of going into the trade.

COMEX: In the context of general equities, the opening. Antithesis of the close.

Comfort Letter: A division of the New York Mercantile Exchange (NYMEX). Formerly known as the Commodity Exchange, COMEX is the leading U.S. market for metals futures and options trading.

Commercial Draft: A letter from an independent auditor in securities underwriting agreements to assure that information in the registration statement and prospectus is correctly prepared to the best of the au . . . View Full Definition

Commercial Hedgers: Demand for payment.

Commercial Loan: Companies that take futures positions in commodities so that they can guarantee prices at which they will buy raw materials or sell their products.

Commercial Mortgage Backed Securities: A short-term loan, typically 90 days, used by a company to finance seasonal working capital needs.

Commercial Paper: Similar to MBS but backed by loans secured with commercial rather than residential property. Commercial property includes multi-family, retail, office, etc., They are not standardized so the . . . View Full Definition

Commercial Property: Short-term unsecured promissory notes issued by a corporation. The maturity of commercial paper is typically less than 270 days; the most common maturity range is 30 to 50 days or less.

Commercial Risk: Real estate that produces some sort of income-producing property.

Commingling: The risk that a foreign debtor will be unable to pay its debts because of business events, such as bankruptcy.

Commission: In the context of securities, this involves mixing customer-owned securities with brokerage firm-owned securities. This process is referred to as rehypothecation, which is the use of custome . . . View Full Definition

Commission Broker: The fee paid to a broker to execute a trade, based on number of shares, bonds, options, and/or their dollar value. In 1975, deregulation led to the establishment of discount brokers, who cha . . . View Full Definition

Commission House: A broker on the floor of an exchange who acts as agent for a particular brokerage house and buys and sells stocks for the brokerage house on a commission basis.

Commitment: A firm that buys and sells futures contracts for customer accounts. Related: futures commission merchant, omnibus account.

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