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- Workout period
- Realignment of a temporarily misaligned yield relationship that sometimes occurs in fixed income markets.
- World Bank
- A multilateral development finance agency created by the 1944 Bretton Woods, (New Hampshire) negotiations. It makes loans to developing countries for social overhead capital projects that are guaranteed by the recipient country. See: International Bank for Reconstruction and Development.
- World Equity Benchmark Series
- The World Equity Benchmark Series are similar to SPDRs. WEBS trade on the AMEX, and track the Morgan Stanley Capital International (MSCI) country indexes. WEBS are available for: Australia, Austria, Belgium, Canada, France, Germany, Hong Kong, Italy, Japan, Malaysia Free, Mexico, the Netherlands, Singapore, Spain, Sweden, Switzerland, and the United Kingdom.
- World investible wealth
- The part of world wealth that is traded and is therefore accessible to investors.
- World Trade Organization
- A multilateral agency that administers world trade agreements, fosters trade relations among nations, and solves trade disputes among member countries.
- WPA
- See Also: With Particular Average
- Wrap account
- An investment consulting relationship for management of a client's funds by one or more money managers, that bills all fees and commissions in one comprehensive fee charged quarterly.
- Wraparound
- A financing device that permits an existing loan to be refinanced and new money to be advanced at an interest rate between the rate charged on the old loan and the current market interest rate. The creditor combines or "wraps" the remainder of the old loan with the new loan at the intermediate rate.
- Wraparound annuity
- An investment that allows the annuitant the choice of underlying investments tax-deferred.
- Wraparound mortgage
- A second mortgage that leaves the original mortgage in force. The wraparound mortgage is held by the lending institution as security for the total mortgage debt. The borrower makes payments on both loans to the wraparound lender, which in turn makes payments on the original senior mortgage.
- Wrinkle
- A feature of a new product or security intended to entice a buyer.
- Write
- Sell an option. Applies to derivative products.
- Write out
- The procedure used when a specialist makes a trade involving his own inventory, on one hand, and a floor broker's order, on the other. The broker must first complete the trade with the specialist, who then transacts a separate trade with the customer.
- Write-down
- Reducing the book value of an asset if its is overstated compared to current market values.
- Write-off
- Charging an asset amount to expense or loss, such as through the use of depreciation and amortization of assets.
- Writer
- The seller of an option, usually an individual, bank, or company that issues the option and consequently has the obligation to sell the asset (if a call) or to buy the asset (if a put) on which the option is written if the option buyer exercises the option.
- Writing cash-secured puts
- An option strategy to avoid using a margin account. Instead of depositing margin with a broker, a put writer can deposit a net_cash_balance equal to the option exercise price, and can avoid additional margin_call.
- Writing naked
- See Also: Naked option strategies
- Writing puts to acquire stock
- Selling a put option at an exercise price that would represent a good investment by an option writer who believes a stock's value will fall, so that the writer cannot lose. If the stock price unexpectedly goes up, the option will not be exercised and the writer is at least ahead the amount of the premium received. If the stock loses value, as expected, the option will be exercised, and the writer has the stock at what he had earlier decided was originally a good buy, and he has the premium income in addition.
- Written-down value
- The book value of an asset after allowing for depreciation and amortization.
- Wrong-way risk
- This type of risk occurs when exposure to a counterparty is adversely correlated with the credit quality of that counterparty. There are two types of wrong-way risk. Specific wrong way risk arises through poorly structured transactions, for example, those collateralized by own or related party shares. General or conjectural wrong way risk arises where the credit quality of the counterparty may for non-specific reasons be held to be correlated with a macroeconomic factor which also affects the value of derivatives transactions. An example of conjectural wrong way risk is that fluctuations in the interest rate causes changes in the value of the derivative transactions but could also impact the credit worthiness of the counterparty. Another example might occur with an emerging-market counterparty, where there is country and possibly currency risk associated with the counterparty (however creditworthy it might otherwise be).
- WS
- The ISO 3166 country code for SAMOA.
- WST
- Western Samoa Tala currency
- WTO
- See Also: World Trade Organization
- W-type bottom
- A double bottom pattern in a price history that looks like the letter W. See Also: Technical analysis
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