School Articles

Par value is a value for the bond or for the stock beyond which a bond or a security in general can be deemed mature. For corporate-issued securities this is a price of $1000 and higher. For government bonds the amount has to be bigger. Securities can be traded both above and beyond par value.

Cambist is a person who has broad set of knowledge in currency exchange rates. It can also refer to a manual with exchange rates. Such manuals deem to be outdated sue to a variety of computer programs and lists.

Kill is a request to close the trade between the placement of order and its execution.

Cross currency couple is a couple that does not include USD and is traded in equity market. In this case currencies are traded against each other without the need to convert them into dollars.

Toxic asset is an asset that become illiquid as soon as it exists the secondary market as demand for them disappears. They are not traded commonly or at all as they are perceived as a sure way to lose money.

Secondary market is a market where traders sell assets they already own. A lot of people think of it as a stock market, but it is incorrect as stocks are also traded in the primary market. New York Stock Exchange and NASDAQ are the secondary markets.