Dictionary
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Dirty price

Dirty price

The total price payable on the purchase of a gilt. It’s calculated as the clean price plus accrued interest.

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Know Your Customer (KYC)

A legal requirement for financial firms to understand exactly who their customers are. Used to prevent money laundering and terrorist financing.
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After-hours trading

Trading outside of a stock exchange's opening hours.
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LSE

London Stock Exchange, which was founded in 1571 and now has a market cap of almost $5 trillion.
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Unicorn

A startup valued at over £1 billion. They are rare, hence the name.
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W-8BEN Form

Non-US individuals and businesses may have to file this form for the Internal Revenue Service (IRS), the US tax authority.
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Arithmetic Mean

The sum of a set of numbers added together and then divided by the total amount of numbers in that set.
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Key Information Document (KID)

A document issued by an investment fund to help investors determine if it's the right fund for them.
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Money weighted rate of return

Learn what Money Weighted Rate of Return or MWRR stands for in finance.
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Conventional gilts

Gilts where the dividends and principal repayments are fixed in nominal terms. This is as opposed to an index-linked gilt where the dividends and principal repayments are related to movements in the Retail Prices Index (RPI).
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