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A managed account is a trading account that is not managed by a trader themselves, but by a hired financial professional or money manager. For the account holder it means that his portfolio is cut out just for their needs without so many possibilities for a mistake.

Joint bond occurs when 2 or more partners give guarantees for interest and principal. In case of default those, holding the bonds have the right to claim any of the assets of the issuing institution. Joint bond reduces risks and borrowing cost.

Tapering is a series of actions which are taken by the central bank in order to try and fix the economy of just improve the overall performance of such. When the officials lose faith in excess stimulus, they usually agree to tampering.

Hard dollar is a cash payment made by an investor or a customer to a brokerage firm for their services. Regularly the total amount of payment is set and known to both of the sides before the deal even occurs.

Illegal financial activity that is set to manipulate the markets and sums up to under-the-table payments that is masked as a purchase of securities from one company to another is referred to as pairing off. Short and long positions are bought and sold fictitiously and the transaction are settled in cash. Securities are never delivered so the trade never really occurs.