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Term Definition: # |
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Naked writing: Issuing contracts without any asset to back the contract or any hedging or covering of positions.
Narrow Money: Limited definition of money to include cash or near cash, i.e. M1 or M0
Nearby contracts: The closest active futures contracts, i.e. those that expire the soonest.
Nearby month: The nearest actively traded delivery month, a.k.a. current delivery month, lead month
Negative Sloping Yield Curve: A yield curve where interest rates in the shorter dates are above those in the longer dates.
Net Liquidity Balance: US Department of Commerce term for the overall balance of payments
Netting: The method of settling under which only the differences in the traded currencies is settled at the close.
Net Position: The number of futures contracts bought or sold which have not yet been offset by opposite transactions.
NIBOR: Norway Inter-bank Offered Rate. Nickel: US term for five basis points.
Nominal quotation: Futures. An estimated price for a future month or date for which there is no bid, ask or trade price.
Nominal day: The dates on which coupons are scheduled to be paid. This day is used to calculate the accrued interest due to the holder. If the nominal payment date falls on a non-market day, the actual coupon payment is usually on the next market day.
Nominee name: Name in which a security is registered and held in trust on behalf of the beneficial owner.
Non competitive auction: Bidders receive bonds at the average price.
Nostro Account: A foreign currency current account maintained with another bank. The account is used to receive and pay currency assets and liabilities denominated in the currency of the country in which the bank is resident.
Note: A financial instrument consisting of a promise to pay rather than an order to pay or a certificate of indebtedness.
Notice day: Any day on which notices of intent to deliver on futures contracts may be issued.
Net Position The amount of currency bought or sold which has not yet been offset by opposite transactions.
Notice of Withdrawal A request by the customer to withdraw funds from the customerís account.

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