- Announcement date
- • Date on which particular news concerning a given company is announced to the public. Used in event studies, which researchers use to evaluate the economic impact of events of interest.
- Broken date
- • See cock date.
- Call date
- • A date before maturity, specified at issuance, when the issuer of a bond may retire part of the bond for a specified call price.
- Cock date
- • In the Euromarket, an off-the-run period, for example, 28 days. Also referred to as a broken date. A cock date contrasts with a fixed date, which is 30, 60, 90, and so on, days hence.
- Consolidated financial statements
- • A presentation of the financial position of a parent company and its subsidiaries as one entity in a financial statement. See also: Annual Report.
- Date of invoice
- • Indicates that the beginning of the credit period is the date on the invoice for the purchase.
- Date of payment
- • Date dividend checks are mailed.
- Date of record
- • Date on which holders of record in a firm's stock ledger are designated as the recipients of either dividends or stock rights.
- Date of record dividends
- • The date, set by the firm's directors, on which every person whose name is recorded as a shareholder will, at a specified future time, receive a declared dividend.
- Date of record rights
- • The last date on which the recipient of a right must be the legal owner indicated in the company's stock ledger.
- Dated date
- • Is the date from which interest accrues on a newly issued municipal security.
- Dates convention
- • Treating cash flows as being received on exact dates -date 0, date 1, and so forth -as opposed to the end-of-year convention.
- Declaration date
- • The date on which a company's Board of Directors meet to announce the date and amount of the next dividend payment. Once the payment has been authorized, it is known as a Declared Dividend, and becomes a legal liability that must be paid.
- • The date on which a firm's directors meet and announce the date and amount of the next dividend.
- Dividend date
- • Is sometimes used to refer to the Date of Record for entitlement to the dividend or the actual Payment Date.
- Effective date
- • In an interest rate swap, the date the swap begins accruing interest.
- • Is the day that a new issue begins trading in the secondary market. This marks the transition from the initial issuance or Primary Market to the Aftermarket or Secondary Market.
- Ex date
- • See Ex-Dividend Date.
- Ex dividend date
- • Also known as the Ex-Date. The first date on which a security is traded without entitling the buyer to receive distributions previously declared. This is the date after which the seller, and not the buyer, of a stock will be entitled to a recently announced dividend. It is usually several business days before the record date, and is indicated in newspaper listings with an x.
- • The first day of trading when the seller, rather than the buyer, of a stock will be entitled to the most recently announced dividend payment. This date set by the NYSE (and generally followed on other US exchanges) is currently two business days before the record date. A stock that has gone ex-dividend is marked with an x in newspaper listings on that date.
- Ex rights date
- • The date on which a share of common stock begins trading ex-rights.
- Expiration date
- • The last day (in the case of American-style) or the only day (in the case of European-style) on which an option may be exercised. For stock options, this date is the Saturday immediately following the 3rd Friday of the expiration month; however, brokerage firms may set an earlier deadline for notification of an option holder's intention to exercise. If Friday is a holiday, the last trading day will be the preceding Thursday.
- Extension date
- • The day on which the first option either expires or is extended.
- Fixed dates
- • In the Euromarket the standard periods for which Euros are traded (1 month out to a year out) are referred to as the fixed dates.
- • In the Euromarket the standard periods for which Euros are traded (one month out to a year) are referred to as the fixed dates.
- Holder of record date
- • The date on which holders of record in a firm's stock ledger are designated as the recipients of either dividends or stock rights. Also called date of record.
- Invoice date
- • Usually the date when goods are shipped. Payment dates are set relative to the invoice date.
- Ipo date
- • Is the date that a security began to trade publicly.
- Maturity date
- • The date on which a bond, mortgage, loan, or other debt security is due to be repaid.
- • The date on which a bond's Principal is repaid to the investor and interest payments cease. See also: Par.
- Notification date
- • The day the option is either exercised or expires.
- Payable date
- • Announced on the Declaration Date. The date on which the Dividend will be paid to its entitled stockholders.
The date a dividend will be paid to entitled shareholders. This date is set by the company on the declaration date.
- Payment date
- • The date on which each shareholder of record will be sent a check for the declared dividend.
- • The actual date on which the firm will mail the dividend payment to the holders of record.
- • The date on which a declared stock dividend is scheduled to be paid.
- Projected maturity date
- • With CMOs, final payment at the end of the estimated cash flow window.
- Record date
- • The date established by a corporation's board of directors that determines which of its stockholders are entitled to receive dividends or rights distributions.
- • (1) Date by which a shareholder must officially own shares in order to be entitled to a dividend. For example, a firm might declare a dividend on Nov 1, payable Dec 1 to holders of record Nov 15. Once a trade is executed an investor becomes the owner of record on settlement, which currently takes 5 business days for securities, and one business day for mutual funds. Stocks trade ex-dividend the fourth day before the record date, since the seller will still be the owner of record and is thus entitled to the dividend. (2) The date that determines who is entitled to payment of principal and interest due to be paid on a security. The record date for most MBSs is the last day of the month; however the last day on which they may be presented for the transfer is the last business day of the month. The record date for CMOs and asset-backed securities vary with each issue.
- Reset date
- • Is the designated time for the reset event to occur. This timing feature can be monthly, quarterly, yearly or whatever is designed for the structure.
- Settlement date
- • The date on which trade is cleared by delivery of securities against funds. The settlement data may be the trade date or a later date.
- • For stocks, payment must be made by the third business day after the purchase. This is the Settlement Date.
- • Is the date of the financial satisfaction of a transaction. This satisfaction can include payment and delivery of securities. In recent years, there has been progress towards closing the gap between trade date and settlement date. Many back office systems are primarily focused on settlements whereas front office systems are primarily focused on trades or transactions. Here, too the gaps are narrowing with the implementation of middle office software.
- • The date on which payment is made to settle a trade. For stocks traded on US exchanges, settlement is currently 3 business days after the trade. For mutual funds, settlement usually occurs in the U.S.the day following the trade. In some regional markets, foreign shares may require months to settle.
- Short dated bonds
- • Long-term government bonds that are approaching maturity.
- Trade date
- • The date on which a transaction is initiated. The settlement date (the day cash and the asset officially changes ownership) may be the trade date or a later date.
- • The date on which a security trade occurs.
- • In an interest rate swap, the date that the counterparties commit to the swap. Also, the date on which a trade occurs. Trades generally settle (are paid for) 1-5 business days after a trade date. With stocks, settlement is generally 3 business days after the trade.
- • Is the date of the transaction.
- Value date
- • In the market for Eurodollar deposits and foreign exchange, value date refers to the delivery date of funds traded. Normally it is on spot transactions two days after a transaction is agreed upon and the future date in the case of a forward foreign-exchange trade.
- • In the market for Eurodollar deposits and foreign exchange, value date refers to the delivery date of funds traded. Normally it is on spot transactions two days after a transaction is agreed upon and the future date in the case of a forward foreign exchange trade.
- Yield to call, option or event date
- • Is akin to Yield to Maturity but adjusts for a short life expectancy. It is the rate of return which is measured by the current expected income stream relative to the prevailing market price assuming that the asset is held until the exercise of the first option or termination event. If the instrument is trading at a discount, then the yield to call, option or event date, will be greater than the coupon rate. If the instrument is trading at a premium, then the yield to call, option or event date, will be less than the coupon rate.
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