Dr. Harvey's Financial Glossary

Saturday, May 19, 2012

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Cheapest to deliver issue: The acceptable treasury_securities with the highest implied repo rate ; the rate that a seller of a futures contract can earn by buying an issue and then delivering it at the settlement date.
Check: A bill of exchange representing a draft on a bank from deposited funds that pays a certain sum of money to a certain person or party.
Check clearing: The movement of a check from the depository institution at which it was deposited back to the institution on which it was written; the movement of funds in the opposite direction and the corresponding credit and debit to the involved accounts. The Federal Reserve operates a nationwide check-clearing system.
Checking the market: Searching for bid and offer prices from market makers to find the best deal.
Checkwriting: Free check writing privileges offered with noe retirement accounts for select mutual funds.
CHESS: See: Clearing House Electronic Subregister System
CHF: The ISO 4217 currency code for Swiss Franc.
Chicago Board of Trade (CBOT): The second largest futures exchange in the US, and a pioneer in the development of financial futures and options.
Chicago Board Options Exchange (CBOE): A securities exchange created in the early 1970s for the public trading of standardized option contracts. Primary place for the trading of stock options, foreign_currency_option, and index_option (S&P 100, s_and_p_500_composite_index, and OTC 250 index)
Chicago Mercantile Exchange (CME): Chicago Mercantile Exchange (CME) is the largest futures exchange in the United States and the second largest exchange in the world for the trading of futures and options on futures. Founded in 1898 as a not-for-profit corporation, in November 2000 CME became the first U.S. financial exchange to demutualize and become a shareholder-owned corporation. Its futures and options on futures trade on CME's trading floors, on its GLOBEX electronic trading platform and through privately negotiated transactions. CME has four major product areas based on interest_rate (including Eurodollar futures, the world's most actively traded futures contract), stock indexes (such as the (S&P 500 and Nasdaq-100 futures), foreign exchange and commodities.
Chicago Stock Exchange (CHX): A major exchange trading only stocks, with 90% of trades taking place on an automated execution system, called MAX.
Chief Executive Officer (CEO): A title held often by the Chairperson of the Board, or the president. The person principally responsible for the activities of a company.
Chief Financial Officer (CFO): The officer of a firm responsible for handling the financial affairs of a company.
Chief Operating Officer (COO): The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president.
Chinese hedge: Applies mainly to convertible securities. Trading hedge in which one is short the convertible and long the underlying common, in the hope that the convertible's premium will fall. Antithesis of set-up.
Chinese wall: Communication barrier between financiers at a firm (investment_bank) and traders. This barrier is erected to prevent the sharing of inside information that bankers are likely to have.
CHIPS: See: Clearing House Interbank Payments System
Choice market: Applies mainly to international equities. Locked market in London terminology.
Churning: Excessive trading of a client's account in order to increase the broker's commissions.
CI: The ISO 3166 country code for COTE D'IVOIRE.
CIF: See: Cost Insurance and Freight
CIL: See Also: Cash In Lieu
Cincinnati Stock Exchange (CSE): stock_exchanges based in Cincinnati that is the only fully automated stock_exchanges in the US. It has no trading floor, but handles all members' transactions using computers.
CIP: See Also: Carriage and Insurance Paid To
Circle: Underwriters, actual or potential, often seek out and "circle" investor interest in a new issue before final pricing. The customer circled has basically made a commitment to purchase the issue if it is available at an agreed-upon price. If the actual price is other than that stipulated, the customer supposedly has first offer at the actual price.

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