The price at which an option holder can buy or sell the underlying instrument (for example,.

The price at which a market maker will buy shares or, in the case of unit trusts, the price at.

An investor who believes that the prices of shares are going to rise. He is therefore a buyer in.

A measure of the rate of change in an option's delta for a one-unit change in the price of the.

When a company decides to list its shares on a stock market it has to go through an elaborate.

See: 'split capital investment.

Insurance which covers the policyholder against certain building losses or damages which may occur. .

A life insurance policy which remains in force where the insured has paid premiums over part of the.

A reversal pattern in technical analysis. Technically, it is an decline to one price level,.

A company (or person) making an unwanted counter bid for another company, whose intentions are.

A Transferable Letter of Credit allows the beneficiary to pass on the benfit of a Letter of Credit to one or more third parties. Normally used by companies that source rather than produce goods.

(ECU)A weighted average of European Community currencies with weighting tending to be proportional to a.

An option which can only be exercised by the holder at expiry (unlike American style options which.

In the UK the four large clearing banks: Lloyds TSB, Barclays, HSBC and Royal Bank of.

A US term which describes the situation in which a takeover target buys back its own shares from a.

A region in which businesses get special tax advantages (including exemption from business rates) as.

The generic name for a tradable loan security issued by governments and companies as a means of .

See: 'National Insurance (NI) Basic.

In the case of call writing, covered means having a holding of shares at least equal to that implied.

A strategy in options trading in which an option is purchased at an exercise price below that of the.