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Glossary of financial terms - Letter N

  • NAFTA

    Tags:  economy group of countries

    Countries:   Canada, Mexico, United States of America

    See  


  • naked

    Tags:  concept options

    Term used to describe the fact that an option writer sells a call option without owning the underlying asset.

     


  • National Futures Association (NFA)

    Tags:  organisations or institutions supervision and regulation

    The National Futures Association is the self-regulatory organisation for the derivatives industry in the United States.

     


  • National Market System (NMS)

    Tags:  financial markets quoting and negotiation systems

    The National Market System is the national system in the United States for trading equities.

     


  • national numbering agency (NNA)

    Tags:  organisations or institutions status

    A national numbering agency is an organisation which is responsible for issuing International Securities Identification Numbers (ISIN) in a country.

     


  • National Securities Clearing Corporation (NSCC)

    Tags:  organisations or institutions transaction settlement

    Country:   United States of America

    The National Securities Clearing Corporation provides centralised clearing, risk management, information and settlement services to the financial industry in the United States.

     


  • National Securities Identifying Number (NSIN)

    Tags:  financial instruments instrument codes

    A National Securities Identifying Number is a nine-digit alphanumeric code issued by a national numbering agency which identifies a fungible security.

     


  • NAV

    Tags:  asset management valuation and pricing

    See  


  • NCC

    Tags:  foreign exchange instruments typology

    See  


  • NCM

    Tags:  financial markets status

    See  


  • NDA

    Tags:  documents and publications finance (general)

    See  


  • NDF

    Tag:  foreign exchange instruments

    See  


  • NDO

    Tags:  foreign exchange derivatives foreign exchange instruments

    See  


  • NDS

    Tags:  financial instruments foreign exchange derivatives

    See  


  • negative interest rate policy (NIRP)

    Tags:  economy monetary policy

    A negative interest rate policy is a monetary policy in which nominal target interest rates are set with a negative value in order to stimulate economic growth in the absence of inflationary pressure.

     


  • net asset value (NAV)

    Tags:  asset management metric valuation and pricing

    A fund's net asset value is the value of its assets minus the value of its liabilities, divided by the number of shares outstanding.

     


  • net present value (NPV)

    Tags:  concept investments time value of money valuation and pricing

    The net present value of an investment is the difference between the present values of incoming cashflows and the present values of outgoing cashflows.

     


  • new share

    Tags:  financial instruments stock markets

    The term new share describes a share as it is created through the process of a capital increase.

     


  • New York Mercantile Exchange (NYMEX)

    Tags:  financial markets regulated markets

    The New York Mercantile Exchange is a commodity futures exchange owned and operated by Chicago Mercantile Exchange Group.

     


  • NFA

    Tags:  organisations or institutions supervision and regulation

    Country:   United States of America

    See  


  • night-time-processing (NTP)

    Tags:  market transactions transaction settlement

    Night-time processing is one of two main settlement processing periods in a settlement day.

     


  • NIRP

    Tags:  concept monetary policy

    See  


  • NMS

    Tags:  financial markets quoting and negotiation systems

    Country:   United States of America

    See  


  • NNA

    Tags:  organisations for standardisation organisations or institutions

    See  


  • no call

    Tags:  bonds characteristics

    Refers to the period of call protection in a callable bond. 'No Call 3' for example would mean that the bond cannot be called for three years (written 'NC 3').

     


  • nominal coupon rate

    Tags:  characteristics interest rate instruments

    Rate of interest which is due to the holder of a bond on each coupon date. The coupon rate is expressed as a percentage of the bond's nominal.

     


  • nominal interest rate

    Tags:  interest rate markets valuation and pricing

    The nominal interest rate is the rate of interest as it is stated for a financial contract or instrument. It does not take into consideration adjustments for inflation, fees, taxes or the effect of compounding.

     


  • nominal risk-free rate (NRFR)

    Tags:  investments time value of money valuation and pricing

    The nominal risk-free rate is the rate of return as it is quoted. It is not adjusted for the expected inflation.

     


  • non-clearing member (NCM)

    Tags:  financial markets organisations or institutions status

    A non-clearing member is an exchange participant that does not possess a licence to settle or clear transactions.

     


  • non-convertible currency (NCC)

    Tags:  foreign exchange instruments typology

    A non-convertible currency is a currency that cannot be freely converted into another currency on the foreign exchange market, that is it can either not be converted at all or only in very limited amounts.

     


  • non-deliverable forward (NDF)

    Tags:  financial instruments foreign exchange derivatives

    A non-deliverable forward is a contract where two counterparties agree on rate of exchange that will apply on a notional FX forward transaction.

     


  • non-deliverable option (NDO)

    Tags:  foreign exchange derivatives foreign exchange instruments

    A non-deliverable option is an option for which the underlying asset cannot be delivered. Settlement at maturity is made in cash instead.

     


  • non-deliverable swap (NDS)

    Tags:  financial instruments foreign exchange derivatives

    A non-deliverable swap is a currency swap which involves at least one currency that is restricted or not convertible.

     


  • non-disclosure agreement (NDA)

    Tag:  documents and publications

    A non-disclosure agreement (NDA) is a legal contract through which the parties pledge not to disclose information covered by the agreement and which they need to share, like trade secrets or proprietary information.

     


  • noncurrent assets

    Tags:  accounting concept

    Assets that will be held for more than a year.

     


  • North American Free Trade Agreement (NAFTA)

    Tags:  economy group of countries

    The North American Free Trade Agreement is an agreement that created a trilateral trade bloc composed of Canada, Mexico, and the United States.

     


  • notional principal

    Tags:  characteristics financial instruments

    The amount which a financial contract is based on, but which is not actually exchanged between the counterparts e.g. in a vanilla swap or a

    .

     


  • NPV

    Tags:  finance (general) valuation and pricing

    See  


  • NRFR

    Tags:  investments valuation and pricing

    See  


  • NSCC

    Tags:  organisations or institutions transaction settlement

    Country:   United States of America

    See  


  • NSIN

    Tags:  financial instruments instrument codes

    See  


  • NTP

    Tags:  concept transaction settlement

    See  


  • NYMEX

    Tags:  financial markets regulated markets

    Country:   United States of America

    See  


  • NYSE Euronext

    Tags:  financial markets regulated markets

    NYSE Euronext is a Euro-American multinational financial services corporation that operates multiple securities exchanges, most notably New York Stock Exchange, Euronext and NYSE Arca (formerly known as ArcaEx).It has its headquarters New York.

     


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