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19 Cards in this Set
- Front
- Back
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Buy-side |
Institutions and entites that buy large quantites of securities for their portfolios |
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Call markets |
smaller markets that follow a pattern of price setting, a period of negotiation and negotiated price setting and a set period of trading |
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Churning |
Excessive trading of a clients account for the purpose of generating commissions |
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CSSF |
The competent authority for the public auditor oversight and responsible for the financial regulation in Luxemborg |
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Continuous markets |
Allow continuous trading as long as the market is open |
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Forth markets |
ECNs that allow traders to quickly buy and sell exchange listed stocks. Does not formally list stocks |
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Mgt co operating agreement |
An agreement between members of an LLC and the conduct of its business related to the law |
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Market making |
practice of a market participate that deals securities by selling at the ask and buying at the bid, thereby receiveing the bid-ask spread as compenstaion for providing the market with liquity |
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MiFID |
An EU law that establishes uniform regulation for investment managers in EU area |
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Primary market |
The process of selling new securities to investors directly from the issuer |
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Second market |
Facilitates trading among investors of previously issued securites |
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Section 3c1 |
Exemption that allows HFs and otehr alt investment pools to typically avoid registration if the number of LPs is limited to 100 |
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Section 3c7 |
Waives reg for alts if tere are no more than 500 super qualified investors $5M individuals $25M institutions |
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Systemic risk |
Potential for economy wide or even worldwide losses as a result of potential failures of financial markets, institutions or even participants (banks) |
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Third markets |
Regional exchanges where stocks listed in primary and secondary markets are traded, segment of the OTC market |
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Universal banking |
Banks that can engage in both commericail and investment banking |
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Buy side participants (list) |
Plan sponsors, foundations, endowments, family offices, sovereigns, hedge funds, FOFs, PE funds, CTAs, SMAs |
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UCITS |
Undertaking for Collective Investment in Transferable Securities- a hedge fund like investment pool that conforms to European regulatons such that the product can be sold throughout the various memebers of the EU |
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European regulatory institutions |
FSA for UK AMF for France FINMA for Switerland |
