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.

When an option holder takes up his option to buy or sell the underlying instrument (for example.

The Financial Services Act 1986 defines investment business to include dealing, arranging deals in,.

Crest is an electronic system of settlement for the equities market in the UK and Ireland which.

A bond sold without the right to the next interest.

UK shareholders receive dividends with a tax credit of 10%. This means that a notional 10% tax.

See: 'bond.

A combined mortgage and current account. Any savings each month earn the mortgage rate, which is a.

The Financial Times 100 Share Index (FTSE 100.

A plan which enables investors to accumulate shares in a mutual fund by purchasing them on a regular.

An options strategy which has the same risk-reward profile as another strategy. For example, a long.

Index-linked savings certificates. They were originally introduced for people who were over.

A mutual fund which invests in bonds which may be government, municipal or.

A tax imposed on certain types of products including alcohol and tobacco which are produced in the.

Purchase of a security without entitlement to current dividends, rights issues or scrip issues. .

Yield calculations on bonds aim to show the return on a gilt or bond as a percentage of either.

Benefits to employees additional to salary. Typical examples would be company cars, expense.

The standard promulgated by the Accounting Standards Board which requires that all sources of.

In the US, a closed end fund with a limited life and two main classes of shares. Holders of.

(IFP)The UK professional body committed to the development of financial planning. The Institute was set.