Dictionary
/
DMO

DMO

The United Kingdom Debt Management Office. It’s an executive agency responsible for managing the government’s debt and cash needs, primarily through issuing gilts and Treasury bills.

More terms

Zero-Sum Game

A situation in which one person's gain is another's loss.
Read more

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.
Read more

Dirty price

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

Value Investing

The art of buying shares which trade below their value, according to the analysis of the value investor.
Read more

Net asset value

Mutual funds and investment trusts are priced on their net asset value (NAV).
Read more

After-hours trading

Trading outside of a stock exchange's opening hours.
Read more

UK Treasury bill

A debt instrument issued by the UK government with a maturity of less than one year.
Read more

Equity

The amount of money a company would be left with by subtracting its liabilities from the value of its assets.
Read more

Nominal amount

The face value of a gilt. It represents the amount that will be repaid to the holder at maturity and is also used to calculate the dividend or coupon payment.
Read more

You’re just minutes away from commission-free investing

open an isa
When you invest, your capital is at risk

Freetrade is your gateway to commission-free investing. Join over 1.6 million users using the Best online trading platform, as voted at the British Bank Awards for six years running.

Accounts
Customer Support
Resources
Company
Important information

Freetrade does not provide investment advice and individual investors should make their own decisions or seek professional advice. The value of investments can go down as well as up and you may receive back less than your original investment. Freetrade is a trading name of Freetrade Limited, which is a member firm of the London Stock Exchange and is authorised and regulated by the Financial Conduct Authority. Registered in England and Wales (no. 09797821).

© 2026 Freetrade, All rights reserved. The Apple logo is a trademark of Apple Inc. App Store is a service mark of Apple Inc. Google Play and the Google Play logo are trademarks of Google LLC.

Follow us on