some security finance term
来源:互联网 发布:淘宝网购物女装棉袄 编辑:程序博客网 时间:2024/05/09 12:23
In finance, securities lending or stock lending refers to the lending of securities by one party to another. The terms of the loan will be governed by a "Securities Lending Agreement", which requires that the borrower provides the lender with collateral, in the form of cash, government securities, or a Letter of Credit of value equal to or greater than the loaned securities. The agreement is a contract enforceable under relevant state law, which is often specified in the agreement.
As payment for the loan, the parties negotiate a fee, quoted as an annualized percentage of the value of the loaned securities. If the agreed form of collateral is cash, then the fee may be quoted as a "rebate", meaning that the lender will earn all of the interest which accrues on the cash collateral, and will "rebate" an agreed rate of interest to the borrower.
An example
In an example transaction, a large institutional money manager with a position in a particular stock would allow those securities to be borrowed by a securities lender. The securities lender (investment bank) would then allow a short seller to borrow the stock and sell it. The short seller would like to buy the stock back at a lower price (which would create a profit). Once the shares are borrowed and sold, it generates cash from selling the stock. That cash would become collateral for the borrow. The cash value of the collateral would be marked-to-market on a daily basis so that it exceeds the value of the loan by at least 2%. The institutional manager would have access to the cash for overnight investment and maintains a long position in the stock.
- some security finance term
- SOME GOOD SECURITY BOOKS
- Term
- Some web site about Network security
- some info on security of P2P SIP
- Finance Indicator
- Finance Note
- corp finance
- some
- some
- some
- some
- some
- Some
- some
- for your security, some settings are controlled by your system administrator (windows 10)
- term _0524
- term vectors
- 设置svn强制写日志和日志可修改方法
- 关于读取文件字符的两种写法在Lucene中的问题
- What’s a pre-borrow?
- VBA的UserForm 中的Scrolllbar
- Linux shell脚本全面学习
- some security finance term
- KlayGE游戏引擎
- Android游戏开发之传感器
- scott 创建视图权限不足 ora-01031
- 用C++对注册表进行操作
- 用C#实现"网络爬虫"
- Apache HTTP Server 与 Tomcat 的三种连接方式介绍
- Android核心分析 分析方法论探讨之设计意图
- js变量前有 var 与没有的区别