Clean price

The quoted price of a gilt, which excludes accrued interest

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Bond

Learn what a bond is
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Oligopoly

A situation in which a market or industry is controlled by a small group of companies.
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Stock Exchange

A physical/digital place where stockbrokers and traders can buy and sell securities.
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Custodian bank

Learn what a custodian bank is.
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Direct listing

Going public without the traditional IPO. Existing shares, straight onto the exchange, no new money raised.
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Stock Market

A place where shares of publicly listed companies are traded.
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Beta

Learn what Beta stands for in finance.
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Retail Prices Index (RPI)

An index published each month by the Office for National Statistics, which measures the level of retail prices in the UK. Cash flows on all index-linked gilts are linked to the RPI.
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Unicorn

A startup valued at over £1 billion. They are rare, hence the name.
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