Spot Rate

The currency exchange rate a bank quotes, valid with immediate effect.

The currency exchange rate a bank quotes, valid with immediate effect.

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Value stocks

Stocks in companies that aren’t necessarily growing fast, but instead are dependable and stable.
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Equity

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

Also called a dividend, this is the fixed annual interest paid to gilt holders. It’s usually paid in two equal, semi-annual instalments and expressed as a percentage of the nominal value of the gilt.
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Ponzi Scheme

A form of fraud designed to lure new investors, and pays the earlier backers by using the new investors' money.
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After-hours trading

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

A trading venue operated by the Frankfurt Stock Exchange.
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Yield to maturity (YTM)

What is yield to maturity and why is it useful?
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Securities

Bonds and stocks.
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